Indian indices ended with gains for the third consecutive day on Wednesday due to Zee Entertainment and broader markets.

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NSE

At close, the Sensex ended 96 points higher to 38,615 while the Nifty50 index ended at 11,408, up 23 points. Broader markets outperformed the benchmarks, with Nifty Midcap100 and Nifty Smallcap100 index closing 0.62 percent and 1.24 percent higher respectively.

Here are the stocks that moved the most today:

Zee Entertainment

The stock climbed over 14 percent to Rs 199.30 per share on the NSE after the brokerages remained bullish despite weak set of numbers for the June quarter. Macquarie also an 'outperform' call on the stock with a target at Rs 250 per share. It raised FY21-23 EPS estimated by 3-5 percent. Global brokerage house CLSA retained a BUY rating and a target price of Rs 255 per share.

Also, the Bombay High Court dismissed YES Bank's interim application against the company. The bank had sought an order preventing Zee Entertainment from disposing or transferring its assets. The court found no merit in the argument and dismissed the bank's plea.

Future Group stocks

The Future Group stocks soared today by hitting their respective upper circuits. Future Retail's shares gained as much as 20 percent to 119.70 per share on the NSE. Meanwhile, shares of Future Consumer and Future Enterprises were caught up in an upper circuit of 5 percent each.

CSB Bank

The stock gained as much as 12 percent to Rs 223.40 per share after it reported a stellar June quarter earnings. The bank reported a 40 percent jump in its net interest income to Rs 185.3 crore. The net profit tripled to Rs 53.5 crore while net NPA improved to 1.74 percent from 1.91 percent last quarter.

Reliance Industries

Shares of Reliance Industries (RIL) jumped 1.5 percent on Wednesday after the company announced the acquisition of a majority equity stake in online pharmacy delivery startup Netmeds. RIL subsidiary, Reliance Retail Ventures has acquired a majority equity stake in Vitalic Health and its subsidiaries Netmeds for a cash consideration of approximately Rs 620 crore.

The acquisition comes on the back of rival Amazon launching online drug sales in Bengaluru - Amazon Pharmacy, which will offer both over-the-counter and prescription-based drugs.

Dilip Buildcon

The share price of Dilip Buildcon gained over 4 percent in the early trade on Wednesday after the company received a letter of acceptance (LOA) from Rail Vikas Nigam. The stock rose as much as 4.11 percent to Rs 395.85 apiece on the BSE. The shares have risen over 41 percent so far in August.

The company received the LOA through its joint venture HCC-DBL (JV) on August 18, 2020, for a new project in Uttarakhand. The bid project cost is of Rs 1,334.95 crore and the completion period is 50 months.

The project includes the construction of tunnels, bridges, yard, and formation works under package-9 in connection with the new BG Line between Rishikesh and Karanprayag (125 km) in Uttarakhand. The company has secured record orders worth Rs 10,703.2 crore in FY21.

YES Bank

YES Bank's share price gained 5 percent on Wednesday after the lender repaid the Reserve Bank of India's Rs 35,000 crore out of the Rs 50,000 crore of Special Liquidity Facility (SLF) that was extended to it to make up for any shortfall in deposits during the crisis this March. There has been a strong interest in the YES Bank stock that it has rallied 44 percent in the last 17 trading sessions.

First Published:Aug 19, 2020 5:22 PM IST