Raymond, Stove Kraft to Power Stocks - here are top Buzzing Stocks today
At 12:45 pm, the S&P BSE Sensex was trading 594.07 points or 0.99 per cent down at 59,483.81. The Nifty 50 index were trading 153.20 points or 0.86 per cent down at 17,701.90.
Equity benchmarks extended the losses and hit fresh intraday low in Tuesday’s noon deals. At 12:45 pm, the S&P BSE Sensex was trading 594.07 points or 0.99 per cent down at 59,483.81. The Nifty 50 index were trading 153.20 points or 0.86 per cent down at 17,701.90. 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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Stock in News
Raymond Ltd.: Up 2.79%. Textile to engineering conglomerate Raymond has announced an organisational restructuring plan to improve synergies and explore monetization options for deleveraging the company. The board has approved the demerger of the apparel business and transfer it into Raymond Limited to consolidate the B2C business. The board has also approved the transfer of Tools & Hardware and Auto Components businesses into Engineering business (JK Files). Zee Business in the past has exclusively reported about restructuring plans at Raymond. Gautam Singhania says, “We are consolidating the business to explore all options available to us for monetisation, which will enable deleveraging leading to value creation.”
BPCL: Up 1.97%. Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) has plans to invest Rs 1 lakh crore over the next five years. It will invest Rs 30,000 crore in the petrochemical business, Rs 20,000 crore on gas proliferation, Rs 5,000 crore on renewable energy, Rs 7,000 crore on biofuels. Chairman on Divestment, “Government intends to complete disinvestment by the end of March 2022”. Besides, the company is waiting for SEBI’s response on the stake in Indraprastha Gas, Petronet.
Whirlpool: Up 1.95%. Whirlpool of India Ltd. on Monday announced that it has entered into a share purchase agreement with Elica S.p.A (MTA: ELC) to acquire an additional stake in Elica PB India. Whirlpool India currently owns a 49% stake in the Elica PB India Private Limited and under the agreement, it will acquire an additional 38% stake in ELica S.p.A. for US$5.7 crore (Rs 420.9 crore). With this, Whirlpool’s total equity ownership in the company will increase to 87%. With this, Elica PB India will become a majority-owned subsidiary of Whirlpool India and its financial statements will be consolidated within Whirlpool India. The transaction is expected to close by the end of September 2021. Both organizations will continue to run their operations similar to their current state.
Shyam Metalics: Up 0.57%. Shyam Metalics on Monday said it is planning to invest Rs 850 crore in 2021-22 as part of its ongoing capacity expansion. Under the framework, the Asset management companies (AMCs) should have approved internal policy for measurement of organization-wide risk like operational risk, technology risk, legal risk, talent risk, outsourcing risk, etc.
Man Infraconstruction: Up 0.24%. The board meeting is scheduled to be held on October 4, 2021, to consider interim dividend for the FY22 and the issue of bonus shares and matters related thereto.
Amara Raja Batteries Ltd: Down 0.77%. Andhra Pradesh High Court has extended the interim suspension of Andhra Pradesh Pollution Control Board (APPCB) orders for the Company’s Plants situated at Karakambadi, Tirupati and Nunegundlapalli Village, Chittoor District, Andhra Pradesh. APPCB has ordered the closure of the plant. The next hearing is scheduled for October 28, 2021. The plant will remain open till the hearing.
RBL Bank: Down 2.02%. Reserve Bank of India (RBI) on Monday imposed a monetary penalty of Rs 2 crore on RBL Bank for contravention of former's directions on Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 and non-compliance with provisions of clause (b) of sub-section (2) of section 10A of the Banking Regulation Act, 1949.
L&T Infotech: Down 3.71%. Larsen & Toubro Infotech has entered into a strategic partnership with eClinicalHealth Limited to accelerate digital innovation in the R&D Clinical Trials Management process for patient-centric drug development. The partnership will help clients decentralize clinical trials setting new benchmarks of excellence in the clinical research space.
Sun Pharma: Down 0.14%. Sun Pharmaceutical Industries Ltd. today announced the launch of a novel formulation in cough management - Chericof® 12 (Dextromethorphan Hydrobromide 30 mg and Chlorpheniramine Maleate 4 mg) in India.
Tata Consultancy: Down 1.51%. Tata Consultancy Services (TCS) has been selected by NORD/LB, a leading German commercial bank, as its strategic partner for its IT transformation.
PSP Projects: Down 3.32%. Abakkus Emerging Fund Bought 4.45 Lakh shares at Rs 425.68/share. Bellwether Capital Sold 3.34 Lakh shares Rs 490.53/share. Patel Shilpaben Sold 15.50 Lakh Shares at Rs 423.07/share.
Royal Orchid: Down 2.08%. Promoter Keshav Baljee Sold 2.71 Lakh shares at Rs 103/share.
Greenlam Industries: Down 0.80%. Promoter Saurabh Mittal sold 1% (2.4 lakh shares) on September 27, 2021.
CAMS: Up 4.71%.
Welspun India: UP 3.14%.
Godrej Consumers: Up 1.06%.
Trident Ltd: Up 2.24%.
Titan: Up 1.47%.
Stove Kraft: Up 10.04%.
Suprajeet Engineering: Up 2.63%.
IDBI Bank: Up 2.18%.
Coal India: Up 4.79%.
Cera Sanitaryware: Up 5.65%.
Indus Tower: Up 2.31%.
Triveni Turbine: Up 10.13%.
Education Stocks: Moving up. Stocks like Navneet Education – up 6.71% and S Chand – up 2.05% were trading with gains.
Liquor Stocks: Moving up. Stocks like McDowell Holdings – up 4.37%; Globus Spirits – up 3.99%; were trading with gains.
Brokerage Houses: Moving up. Stocks like Angel Broking – up 1.70%; ICICI Securities – up 1.40% and Geojit – up 0.26% were trading with gains.
OMCs: Moving up. Stocks like HPCL – up 3.24%; IOC – up 2.82% and BPCL – up 1.97% were trading with gains.
Power Stocks: Moving up. Stocks like Power Grid – up 5.14%; NTPC – up 4.49%; NHPC – up 1.08%; REC – up 5.47%; PTC – up 0.97%; PFC – up 4.68%; CG Power – up 1.07% and JSW Energy – up 2.91% were trading with gains.
Fertilizer Stocks: Moving up. Stocks like GNFC – up 0.85%; GSFC – up 2.38% and Zuari Agro – up 4.99% were trading with gain
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