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Bharti Airtel, Tata Steel, and Indian Oil gained the most on both the indices, while Hindustan Unilever, Dr Reddy’s Laboratories and Indiabulls Housing were the top losers.Shares of Indian Oil Corporation (IOC) gained 3 percent intraday on Wednesday as investors cheered the company’s stellar financial results for the December quarter.
The oil marketing company’s third quarter earnings beat analyst expectations on Monday as standalone profit during the quarter more than doubled to Rs 7,883 crore, from Rs 3,696.3 crore in previous quarter.
The bottomline was far ahead of CNBC-TV18 poll of Rs 5,222 crore for the quarter.Based on a few parameters, the index undergoes changes, wherein some stocks get replaced by others.
Brokerage house IDBI Capital believes that there is a high probability of names such as Ambuja Cements, Aurobindo Pharmaceuticals as well as Bosch being included in the frontline index. Meanwhile, stocks such as Grasim, Bajaj Finserv and Titan are likely to be excluded from the list.
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