Maharashtra Bank, Indian Overseas Bank, Andhra Petro to Adani Ports - here are top Buzzing Stocks today
Domestic equity markets were trading in green in Tuesday’s noon deals. At 1:08 pm, the S&P BSE Sensex was trading 103.58 points or 0.22% up at 47,986.96, while the Nifty 50 index was trading 26.25 points or 0.18% higher at 14,337.05.
Domestic equity markets were trading in green in Tuesday’s noon deals. At 1:08 pm, the S&P BSE Sensex was trading 103.58 points or 0.22% up at 47,986.96, while the Nifty 50 index was trading 26.25 points or 0.18% higher at 14,337.05. 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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Bank of Maharashtra: Hit upper circuit of 10% and trading 10.50% up. As more than one million shares change hands due to multiple block deals.
Andhra Petro: Bullish and up 4.91%. Finance Ministry imposes anti-dumping duty for five years on the import of normal Butanol from the EU, Malaysia, Singapore, South Africa and the US. Similar anti-dumping duty for five years was imposed in 2016. The duty imposed after an investigation that was conducted between April 2019 and March 2020. DGTR suggests duty ranging between $13.24-149.31 MT.
Indian Overseas Bank: Bullish and up 6.52%. The Board of the bank has approved the issue of equity shares by the bank on a preferential basis to the Government of India for the capital infusion of Rs 4,100 crore received during Financial Year 2020-21. It also approved the issuance of 246.54 crore shares at Rs 16.63 apiece.
IT Stocks: Profit booking in the IT sector after TCS results.
Pharma stocks: see profit booking. Cipla down 0.70%, Dr Reddy’s down 3.52%.
Adani group stocks continue to fall
Adani Green: Down 2.49%. The capacity of 925 MW added despite pandemic in FY21. Total operational capacity now stands at 3,470 MW. Sale of Energy up by 19% YoY at 4,886 million units. Besides, Adani Green Energy Limited (“AGEL”), commissions a 50 MW Solar Power Plant in Chitrakoot, Uttar Pradesh.
Adani Ports: Down 3.37%. Adani Ports and Special Economic Zone has been removed from the S&P sustainability index due to the firm’s business ties with Myanmar’s military which is accused of human rights abuses after a coup this year.
L&T Finance and other NBFCs doing well.
L&T: Up 1.09%. The renewables arm of Larsen & Toubro's Power Transmission & Distribution Business has secured the go-ahead to begin constructing the 300MW Jeddah Solar PV Power Plant. The turnkey EPC order has been received from the consortium of Masdar, EDF Renewables and Nesma Company.
Auto stocks: Rebound in trade. M&M – up 5.85%, Maruti Suzuki – up 3.94%, Tata Motors – up 1.08%, Ashok Leyland – up 0.49%, Hero MotoCorp – up 1.15% and Bajaj Auto – up 0.27%
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