Stocks Radar: Petronet LNG, Phoenix Mills, IFCI And More
Jagran Prakashan jumped more than 6% on news of a possible share buyback.
Indian shares climbed, with the benchmarks advancing to their highest level in two-weeks.
The S&P BSE Sensex gained 0.5 percent to 26,500 while the NSE Nifty rose 0.5 percent as well to 8,144. The market breadth too was encouraging with 1,026 stocks advancing, 357 declining and 445 remaining unchanged on the NSE.
Here are the stocks moving the markets for the day:
Jagran Prakashan: Biggest Mover
Shares of the media company jumped 6.6 percent to Rs 184 after it announced a meeting to consider a share buy-back, on January 5, 2017, on the exchanges.
The company is a print, radio and digital media company and owns the Radio City FM station. The stock was a top performer on the NSE 500 Index.
Petronet LNG: Inks MoU With Bangladesh Oil Company
Shares of the oil and gas company rose 2 percent to Rs 373 after it inked a memorandum of understanding with Bangladesh Oil, Gas and Mineral Corporation to set up a LNG infrastructure development project.
The $950 million project includes setting up a LNG re-gasification terminal along with gas pipelines. The capacity of the terminal, constructed over the next four years, is expected to be 7.5 MMTPA, the Indian high commission in Dhaka said in a statement on its website.
IFCI: To Offload Stake in NSE
Shares of the development bank rose 1.6 percent to Rs 28.5 after it decided to offload 25 percent of its 3.05 percent stake in the National Stocks Exchange through the exchange's initial public offer.
The company will do away with 3.4 lakh pre-split shares through the IPO, it said in an exchange filing.
Phoenix Mills: Acquires Shares In ODPL
Shares of the real estate company rose 2.7 percent to Rs 374 after it acquired 3.04 percent stake in Offbeat Developers (ODPL) from Vistara ITCL India and IIRF Holdings, through a share purchase agreement.
Offbeat developers is a real estate development company based in Mumbai. Phoenix's stake in the company has now risen to 77.52 percent, the company said in a statement to the exchanges.
Sensex, Nifty: Movers & Shakers
