Stocks Radar: Vardhman Textiles, Dilip Buildcon, HDFC And More
Vardhman Textiles, HDFC, Dilip Buildcon on the radar today
Indian equities got off to a weak start, reflecting weak Asian cues after a rebound in oil prices. Banking stocks led the declines on a report that the bad loan mess may be far from over.
Vardhman Textiles: Gains on Buyback News
Shares of the integrated textile producer gained as much as 5.6 percent to Rs 1,102 after its board approved a buyback of 61.27 lakh equity shares for Rs 1,175 each. The stock is close to its 52-week high of Rs 1,120.
Also Read: Vardhman Textiles To Buyback Shares at 13% Premium
Dilip Buildcon: Order Win Boost
Shares of the Madhya Pradesh-based EPC company rose almost 4 percent to Rs 248, after the company bagged two road construction orders worth Rs 613.08 crore and Rs 350 crore from the NHAI and the Ministry of Road Transport and Highways, respectively.
The company declined four out of the five trading sessions last week.
HDFC: Postal Ballot Result Tomorrow
Shares of the banking and financial services company fell as much as 1.5 percent to Rs 1,403. Investors are awaiting the outcome of the postal ballot, due tomorrow, seeking shareholder nod for payment of Rs 850 crore non-compete fee to Max’s Analjit Singh.
Suprajit Engineering: Gains on Merger Announcement
Shares of the control cables designing and manufacturing company gained as much as 2.5 percent to Rs 218.80, after creditors approved merger of the the company with Phoenix Lamps in a court convened meeting.
Shares of Phoenix Lamps declined 1 percent this morning.
Indiabulls Real Estate: Gains Ahead of AGM Today
Shares of the real estate company gained of as much as 1.5 percent to Rs 89 ahead of the company’s annual general meeting. The company is expected to issue NCDs and other hybrid instruments worth Rs 7,500 crore.
The stock has risen almost 48 percent on a year-on-year basis.
GNA Axles: Gains on Index Debut
The Punjab-based axle manufacturing company made its debut on the bourses today. Shares began trading at Rs 248 apiece, a premium of 22 percent to its listing price of Rs 207.
The company’s initial public offering was subscribed 54.88 times.