2021-09-27 19:52:12
Market closes higher, Societe Generale buys 32 lakh shares of Axis Bank
Nifty 50 closed at 17,855.10 (1.9, 0.0%) , BSE Sensex closed at 60,077.88 (29.4, 0.1%) while the broader Nifty 500 closed at 15,189.05 (-2.9, -0.0%)
Market breadth is in the red. Of the 1818 stocks traded today, 752 were in the positive territory and 995 were negative.
Torrent Pharmaceuticals, Tata Communications, Zensar Technologies, and Route Mobile are trading with higher delivery volumes compared to Friday.
Axis Securities maintains a 'Buy' rating on Can Fin Homes with a target price at a 23% upside due to the housing finance company's strong asset quality (gross NPAs are less than 1% of total assets).
TCNS Clothing Co. is trading in the green with seven times its weekly average trading volume, BSE, MMTC, and SKF India are trading with more than four times their weekly average trading volume.
EIH, Chalet Hotels, Indian Hotels Company, and Taj GVK Hotels & Resorts are rising due to a pick up in travel as the economy opens up.
PSP Projects' industrial engineering segment wins orders worth Rs 421 crore in Gujarat. This is the second order win in September, taking the company's total order inflows to Rs 553 crore.
HDFC Bank plans to double its rural reach by expanding its services to 2 lakh villages in the next two years.
Axis Bank is rising as Societe Generale buys 32 lakh shares in the private bank for Rs 255 crore in a bulk deal on Friday.
Reliance Infrastructure is rising as the power company will raise $100 million (Rs 750 crore) through convertible debt securities. In July, the company raised Rs Rs 550 crore through a preferential allotment of 8.8 crore equity shares.
Motilal Oswal maintains a 'Buy' rating on United Spirits with an 18% target price upside stating that the company recovered swiftly after the second Covid-19 wave as 70% of liquor outlets were operational as of August.
Balkrishna Industries will raise Rs 1,000 crore through debt. Earlier this month, the tyre maker said it would spend Rs 1,000 crore to expand capacity at its Maharashtra manufacturing plant.
NBCC is rising as it wins an engineering, procurement, and construction (EPC) order worth Rs 968 crore for a social housing project in the Maldives.
PVR and Inox Leisure are rising as the Maharashtra government announces that theatres in the state will reopen on October 22.
Zee Entertainment Enterprises' largest shareholder Invesco Fund urges the company to conduct an extraordinary general meeting (EGM) before completing its merger with Sony Pictures Networks India.
Upbeat trading today, as Nifty 50 was trading at 17,907.90 (54.7, 0.3%) , BSE Sensex was trading at 60,351.59 (303.1, 0.5%) while the broader Nifty 500 was trading at 15,223.90 (32.0, 0.2%)
Market breadth is in the green. Of the 1741 stocks traded today, 1095 were gainers and 555 were losers.
Riding High:
Largecap and midcap gainers today include Tata Motors Limited (DVR) (172.25, 6.79%), Maruti Suzuki India Ltd. (7403.45, 6.49%) and IDBI Bank Ltd. (41.25, 6.31%).
Downers:
Largecap and midcap losers today include MindTree Ltd. (4347.25, -5.52%), HCL Technologies Ltd. (1295.20, -4.64%) and Larsen & Toubro Infotech Ltd. (5980.20, -4.03%).
Crowd Puller Stocks
26 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included EIH Ltd. (140.95, 12.04%), Chalet Hotels Ltd. (239.35, 10.53%) and Sterling and Wilson Solar Ltd. (387.35, 9.04%).
Top high volume losers on BSE were Metropolis Healthcare Ltd. (2945.65, -3.59%), APL Apollo Tubes Ltd. (868.85, -2.83%) and JK Paper Ltd. (232.50, -1.32%).
Equitas Small Finance Bank Ltd. (61.70, 4.14%) was trading at 25.8 times of weekly average. Gateway Distriparks Ltd. (229.75, -0.56%) and TCNS Clothing Co. Ltd. (646.20, 3.43%) were trading with volumes 11.8 and 8.9 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
33 stocks made 52 week highs,
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