Stock Updates: Domestic equity benchmarks Sensex and Nifty were trading higher on Friday morning. Tech Mahindra was the top Nifty50 gainer in early deals. HCL Tech, Tata Motors, Power Grid and HDFC were among other blue-chip top performers.
Stock Updates: Fertiliser Stocks Rally Up
On the other hand, SBI Life was the top laggard, down 1.31 per cent. Bajaj Finserv, Bharti Airtel, Grasim and ONGC were among other losers. Tech Mahindra on Thursday reported 42.91 per cent growth in June quarter consolidated net profit at Rs 1,365.7 crore on higher revenue and an expansion in profit margins.
Shares of domestic fertilizer producers were on a roll on Friday as China asked some key fertiliser firms to suspend exports to the world. Rashtriya Chemicals & Fertilisers gained 10 per cent to Rs 87.95. FACT and Madras Fertilizers advanced 9 per cent to Rs 146.70 and Rs 33.75, respectively.
Stock Updates: Chambal Fertilizers, Coromandel International, Southern Petrochemicals, Zuari Agro Chemicals, Khaitan Chemicals and Fertilizers, National Fertilizers, GNFC and Gujarat Narmada Fertilisers & Chemicals added between 4 to 7 per cent each.
Privi Speciality Chemicals announced that it will set up a joint venture with Switzerland-based fragrance firm Givaudan for setting up a greenfield production facility in Mahad for manufacturing highly specialized aroma chemicals.