Market Buzz Today: Sensex gains over 300 points, Nifty up or 0.75%; Tata Group Shares jump
Indian equity markets were trading in green with decent gains in mid-afternoon trade on January 29, 2020. The indices were in positive territory due to movement in the stocks, reacting to local and global cues.
Indian equity markets were trading in green with decent gains in mid-afternoon trade on January 29, 2020. The indices were in positive territory due to movement in the stocks, reacting to local and global cues. The gains were also supported by the positive cues from other Asian shares. At 1:14pm, S&P BSE Sensex surged 300.742 points, or 0.73%, to 41,267.58, while Nifty 50 was trading at 12,146.65 level with a gain of 90.85 points, or 0.75%. Similarly, Nifty Bank was up 231.90 points, 0.75%, to 30,993.30. Here is the list of some stocks that have caught the eye today:
Ircon International: Up 6.28%. Touched 52-week high, to consider a split of its equity shares in its meeting scheduled on February 11.
Va Tech Wabag: Up 2.96%. The company secured multiple orders worth Rs 760 crore in India, Switzerland and Singapore.
Dr Reddy's Lab: Down 0.32%. USFDA issued a Form 483 with 5 observations to the API manufacturing plant at Srikakulam, Andhra Pradesh.
IndiGo: Up 0.77%. EGM ends; results of the voting to be declared within 48 hours.
Rallis India: Up 1.90%. Hits 21-month high. It has zoomed 47% in January on strong Q3 results.
United Spirits: Down 2.55%. Declines in profit booking. The stock had surged 15% yesterday post Q3 results.
Cummins India: Up 4.53%. Maintains FY20 domestic revenue growth guidance at 3-5%.
Marico: Up 2.95%. Begins production at Sanand for personal care products.
Mastek: Up 3.61%. The management expects a pick-up in order backlog from January. Brokerages showed faith despite tepid quarterly results.
ITI: Up 3.85%. Stock recovers smartly after a weak opening. The company extends FPO after tepid response.
Tata Group shares: Tata Motors - up 5.71%, Tata Coffee - up 4.88%, Rallis India - up 1.84%, Tata Global Beverages - up 1.52%, Tata Steel - up 2.10% and Tata Chemicals up 1.88%.
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