PNB, IB Housing, Chemical to Fertilizer Stocks - here are top Buzzing Stocks today
Domestic stocks markets were trading with minor losses in Thursday’s noon deals. The session is volatile today. At 1:46 pm, the barometer index, S&P BSE Sensex was trading 50.63 points or 0.10% lower at 49,852.01.
Domestic stocks markets were trading with minor losses in Thursday’s noon deals. The session is volatile today. At 1:46 pm, the barometer index, S&P BSE Sensex was trading 50.63 points or 0.10% lower at 49,852.01. The Nifty 50 index was trading with a fall of 34.25 points or 0.23% at 14,995.90. 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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PNB + BHEL: PNB was trading 4.01% higher and BHEL was 1.56% up. The stocks rally after coming out of F&O Ban.
IB Housing rallies post-earnings: IB Housing was trading 8.02% higher after it reported a 101.5% YoY rise in the consolidated profit at Rs 276 crore for the quarter ended March 31, 2021. It had reported a profit of Rs 137 crore in the same quarter of the previous financial year. Other Indiabulls stocks, like Indiabulls Real Estate – up 6.57% were rallying.
Aarti Industries – up 1.54%+ P I Industries Ltd – up 0,27%: Chemical Stocks Bounce back today.
Fertilizer Stocks Rally On Government Action
Fertilizer Stocks: Rallies on government action. The government on Wednesday announced an increase in subsidy for di-ammonium phosphate (DAP) fertilisers by 140% from Rs 500 to Rs 1,200 per bag. Fertilizer stocks like Deepak Fertilizer – up 2.97%, GSFC – up 3.94%, RCF – up 5.01%.
The IEX Under pressure after block deal + Axis Bank OFS Update
IEX; Down 4.26%. Multiple deals for 30 lakh share happened in the range of Rs 364.30 to Rs 365.50 per share. Deal for 5% equity has been made.
Axis Bank OFS: Shares down 0.89%. The government’s Rs 4,000-crore offer for sale (OFS) in Axis Bank was subscribed 4.16 times on Wednesday by the non-retail investors. The offer is open for retail subscribers today.
Paper Stocks: Anti-dumping duty may continue on import of uncoated paper copiers from Indonesia and Singapore, sources aware of the development informed Zee Business. According to the sources, DGTR has started an investigation on the import of uncoated paper and copiers that is used for photocopying. Imports between January-December 2020 will be investigated on the complaint made by JK Paper – up 6.59% and West Coast Paper – up 5.59%. Anti-dumping duty was imposed in 2018. DGTR seeks response from stakeholders in 30 days
Thirumalai Chemicals + IG Petrochemicals: Thirumalai Chemicals – up 3.45% and IG Petrochemicals – up 3.85%. They have asked the government to impose a duty on the import of Phthalic anhydride from China, Indonesia, Korea and Thailand has been suggested, sources informed Zee Business. They asked the concerned authority to investigate the imports that were made between April 2019 and March 2020. The investigation was started on May 21, 2020. Phthalic anhydride is used in plastic and insecticide industries. They have asked to levy duty ranging between $40.08 / MT to $140.17 / MT.
PSU Divestment: Cabinet Secretary will conduct a meeting to discuss the divestment of BPCL- up 1.33%, BEML – up 1.92%, CONCOR- down 0.57%, SCI – up 4.38% and Air India today, sources informed Zee Business. According to the sources, people from Ministries from the finance, petroleum and shipping industry will participate in the meeting.
Metal Stocks: Under Pressure. The nifty Metal index was trading 2.15% lower. Stocks like NMDC – down 2.17%, Hindalco – down 3.20%, SAIL –down 3.42% and Tata Steel – down 4.14%, Hindustan Zinc – down 1-.1%, National Aluminum – down 1.29%, Welspun Corp – down 0.21%, JSW Steel – down 0.97%, among others were trading lower.
Sun Pharma: Weak on Taro numbers. Down 1.70%, Subsidy, Taro Pharmaceutical Industries Ltd, has reported a loss of $30 million for the quarter ended March 31, 2021, against a profit after tax of $54.2 million.
INEOS Styrolution: Rallies and trading 7.64% higher on strong earnings. The global styrenics supplier has reported 36.3 times YoY rise in the consolidated profit at Rs 161.4 crore for the quarter ended March 31, 2021. It had reported a profit of Rs 4.5 crore in the corresponding quarter of the previous financial year.
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