Stocks Radar: Aarti Industries, Dalmia Bharat, SRS
Here are the stocks moving market this morning.
Indian equity benchmarks rose led by gains in Bharti Airtel Ltd. and Oil and Natural Gas Corporation Ltd.
The S&P BSE Sensex rose as much as 0.41 percent to 33,896, while the NSE Nifty 50 Index rose 0.5 percent to Rs 10,474.
The market breadth was tilted towards the buyers. All of the 19 sector gauges compiled by the BSE Ltd. rose, led by the S&P BSE Telecom Index's 1.19 percent jump. Meanwhile, S&P BSE Metal Index was the least performer.
Here Are The Stocks Moving This Morning:
Navin Fluorine: Rises On Expansion
Shares of the flurochemicals manufacturer rose to lifetime high of Rs 806.15 after rising as much as 3.81 percent.
The company will spend Rs 115 crore for the expansion of its current good manufacturing practice capacity at its Dewas facility.
The stock is currently on a six day rally. Around 77 percent of the analysts covering the stock have a ‘buy’ recommendation.
Dalmia Bharat: Rises On Resolution Plan
Shares of the cement maker rose as much as 1.87 percent to Rs 3,314.8, extending a five day gaining streak, after creditors approve its debt resolution plan for Murli Industries.
The stock is on a five-day gaining streak. It is trading at 84.3 times the trailing 12-month earnings per share and 45 times the estimates for the coming year.
SRS: Sale Of Business To Spencer’s
Shares of the Faridabad-based retailer rose as much as 4.24 percent to Rs 1.72.
SRS Ltd. will sell its SRS Value Bazaar for Rs 32 crore to Spencer’s Retail.
The company’s stock has gained after five trading sessions although it has given negative returns of 64.52 percent as compared to Sensex’s returns of 27.84 percent.
Aarti Industries: Rises On Share Buyback
Shares of the chemicals manufacturer rose to a lifetime high of Rs 1,140 after rising 9.31 percent, the most ever.
Aarti Industries Ltd. will buy back 8.2 lakh shares (1 percent of equity) at Rs 1,200 each. The stock is on a 11-day gaining streak, which is also a record high.
Bharti Airtel: Rises After Tanzania Government Approved Acquisition
Shares of Bharti Airtel Ltd. rose as much as 2.42 percent to Rs 536.8, snapping a two day declining streak.
Airtel said that Tanzania has approved the acqusition of local unit. According to an earlier report on Bloomberg, Tanzania government said that Airtel’s local unit belongs to state-owned Tanzania Telecommunications, which set up an ownership dispute.
More than 73 percent of the analysts with this stock on thier portfolio, recommend to buy this one.