Banking and SFBs stocks to Hikal - here are top Buzzing Stocks today

Domestic stocks markets were trading with a gain of around one per cent in Wednesday’s noon deals. The sentiments were lifted by pharma stocks and financials after RBI Governor Shaktikanta Das unveiled liquidity support measures amid rising Covid-19 cases in India. At 1:21 pm, the S&P BSE Sensex was trading 438.63 points or 0.91% higher at 48,692.14. The Nifty 50 index was trading 126.70 points or 0.87% higher at 14,623.20. Meanwhile, certain stocks were in action in either direction based on reports linked to them. Here is a list of few such stocks:

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Stocks in News

Banking Stocks: On a move. Nifty Bank index was trading 1% higher while Nifty PSU Bank and Nifty Private Bank index was trading 1.55% and 0.94% higher. 

Small Finance Banks: Buzzing. Shares of small finance banks (SFBs), like Equitas Small Finance Bank Ltd – up 4.38%, Ujjivan Small Finance Bank Ltd – up 3.30% and AU Small Finance Bank Ltd – 1.62% among others, were trading with a gain after the Reserve Bank of India (RBI) announced a special long-term repo operation window for SFBs, whereby the banks can borrow funds up to Rs 10,000 crore at repo rate for deploying for fresh loans SFBs, to be deployed for fresh lending of up to Rs 10 lakh per borrower. 

Telecom Stocks in Focus: Bharti Airtel – up 2.10%, Vodafone Idea – up 1.82%, Reliance Industries – up 0.28%. The government has given permissions to Telecom Service Providers for conducting trials for use and applications of 5G technology. The applicant includes Bharti Airtel Limited, Reliance JioInfocomm Limited, Vodafone Idea Limited and MTNL.

Pharma Stocks: Buzzing with Nifty Pharma index trading 2.97% higher. Pharma stocks, like Lupin – up 9.51%, Cadila – up 4.88%, Sun Pharma – up 4.52, Alkem – up 4.13% among others, were trading with a gain of more than 4%. 

Oil and Gas stocks: On a move. GAIL – up 0.14%, ONGC – up 1.64%, Oil India – up 0.66%. 

Sugar Stocks: Buzzing. Sugar stocks, like Dwariksesh Sugar – 7.26% up, Dhampur Sugar – 5.77% up; Balrampur Chini – 6.21% up, were trading with high gains. 

Hikal: Buzzing and trading higher 10% upper circuit at 9.98% higher. It has signed a 10-year multi-product deal with a leading global pharmaceutical innovator company. 

Affle India: Up 0.25%. The company has announced the closure of its qualified institutional placement offer on Tuesday. The fundraising committee of the company has determined and approved the issue price of Rs 5200 per equity share (including a premium of Rs 5190 per share) to be allotted to the eligible qualified institutional buyers. 

InterGlobe Aviation: Up 1.78%. The Board of Interglobe Aviation will meet on May 7, 2021, to discuss and consider plans to raise funds by issue of equity shares through qualified institutions placement. It has plans to raise up to Rs 3,500-4,000 crore. 

Ambuja Cement: Up 0.78%. LIC has increased its stakes in Ambuja Cement from 4.99% to 5.01%. The purchase was made through the open market. 

Aarti Industries: Up 2.98%. The company has reported its March quarter number on Tuesday and also announced a bonus issue plan.  

Angel Broking: Down 2.94%. In its business update said, client base up 131.9% YoY to 4.42 million v/s 11.91 million and up 7.3% MoM. 

Alembic Pharma: Down 4.40%. The company has received US Food & Drug Administration (USFDA) Final Approval for Dorzolamide Hydrochloride and Timolol Maleate Ophthalmic Solution USP, 2% and 0.5%.

Results Impact

L&T Infotech: Up 2.31%. The technology consulting and digital solutions company has reported a 5% Quarter-on-Quarter rise in consolidated profit at Rs 545 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 519 crore in the previous quarter ended December 31, 2021

RBL Bank: Up 0.74%. The private lender reported a 34% YoY decline in profits at Rs 75 crore for the quarter ended March 31, 2021, against Rs 114 crore posted last year in the same quarter. 

Adani Ports: Down 3.02%. APSEZ has reported 3.89 times year-on-year jump in its consolidated profit at Rs 1,288 crore for the quarter ended March 31, 2021. It had reported a net profit of Rs 334.4 crore in the same quarter of the last fiscal year.

Adani Total Gas: Down 0.59%. The city gas joint venture of Adani Group and French energy giant Total has reported a 19% YoY rise in the consolidated profit at Rs 144 crore for the quarter ended March 31. 2021. It had reported a profit of Rs 121 crore in the same quarter of the last fiscal year. 

DCM Shriram: Down 3.22%. The chemical manufacturing company has reported an 11.6% YoY rise in the consolidated profit at Rs 231 crore for the quarter ended March 21, 2021. It posted a profit of Rs 207 crore in the same quarter of the last fiscal year. 

Greaves Cotton: Down 1.23%. The engineering company has reported a 2,372.7 times YoY growth in consolidated profit at Rs 13.6 crore for the quarter ended March 31, 2021, as against Rs 0.55 crore posted in the same quarter of the previous fiscal year.