Stocks Radar: Parag Milk Foods, Bank Of Maharashtra, Eros Media
Indian equities edged lower ahead of the RBI's Dec. meeting as investors awaited clues from the central bank on future monetary policy.
The S&P BSE Sensex Index fell as much as 0.57 percent to 32,682, while the NSE Nifty 50 Index dropped as much as 0.58 percent to 10,069.
The market breadth was tilted in favour of the sellers. Thirteen of the 19 sector gauges compiled by the BSE Ltd. fell, led by the S&P BSE Power Index’s 1.25 percent decline. On the flip side, the S&P BSE Realty Index rose 0.47 percent, making it the best performer.
Here Are The Stocks Moving The Market This Morning:
Laurus Labs: Enters U.S. Markets
Hyderabad-based drug maker rose as much as 3.41 percent to Rs 535 after Bloomberg reported that it was planing to enter the U.S. markets with low-cost copy cat medicines. (More details here)
The stock has risen little over 9 percent so far this year compared to a 5.9 percent decline in the S&P BSE Healthcare Index. Analyst consensus price target of Rs 612.50 is 17.1 percent above its current price.
Eros Media: Fund Raising Boost
Shares of the Mumbai-based films distributor, extended a two-day gaining streak and rose as much as 2.8 percent to Rs 213. Parent company Eros International Plc. announced a $100 million equity-linked funding.
Parag Milk Foods: New Buy Rating
Shares of the dairy products distributor rose as much as 4.79 percent to Rs 253.7. The stock is up for a fifth straight session.
Brokerage firm Edelweiss Securities initiated coverage on Parag Milk Foods Ltd. with a ‘Buy’ rating and a target price of Rs 340. The stock has declined 4.1 percent so far this year as compared to the Sensex's 23.11 percent advance.
Bank Of Maharashtra: Rises On QIP Issue
Shares of the Pune-based bank rose as much as 5.18 percent to Rs 27.4.
The bank had announced yesterday that it had opened its QIP issue at a floor price of Rs 26.89 per share.
Bank of Maharashtra's shares snapped a four-day losing streak and has given negative returns of 6.9 percent this year as compared to Sensex's returns of 23.11 percent.
Balaji Amines : Surges To Record High
Shares of the Secunderabad-based chemical maker rose as much as 7 percent to record high of Rs 674.50 after the Government of Maharashtra conferred 'Mega Project' status to the expansion being undertaken by the company at MIDC Chincholi in Solapur, Maharashtra.
Stocks Reacting To Block Deals
- HCL Technologies Ltd. has 11 lakh shares change hands in a block deal
- Shares of the company rose as much as 0.58 percent to Rs 852.9
- 12 lakh shares changed hands in a block deal
- Shares of the company fell as much as 0.6 percent to Rs 1,129.15
Aditya Birla Fashion
- Aditya Birla Fashion and Retail Ltd. has 15 lakh shares change hands in a block deal at Rs 165.25 per share on the BSE.
- Shares of the company rose as much as 1.74 percent to Rs 169.1
- Century Textiles and Industries Ltd. has 17.8 lakh shares change hands at Rs 1,284.9 per share in a block on the BSE.
- Shares of the company rose as much as 1.28 percent to Rs 1,305.35