Stocks Radar: Sagar Cements, Lasa Supergenerics, Punjab & Sind Bank
Here are the stocks moving the markets this morning.
India’s benchmark equity indices joined peers in Asia to rise on Wednesday amid optimism that company profits for the quarter through December will show further improvement.
The S&P BSE Sensex rose as much as 0.55 percent to 33,998, while the NSE Nifty 50 Index rose as much as 0.59 percent to 10,503.
The market breadth was tilted in the favour of buyers. All of the 19 sector gauges compiled by BSE Ltd. rose, led by the S&P BSE Metal Index’s 1.66 percent gain. On the flipside, the S&P BSE Auto Index rose the least, 0.17 percent.
Here Are The Stocks Moving This Morning:
Punjab & Sind Bank: Rises On Fund Raising Plan
Shares of the lender rose as much as 3.11 percent to Rs 49.8 snapping a two-day decline period after it reiterated its earlier decision of raising Rs 1,000 crore of equity capital. Trading volume was 9.3 times the 20-day average.
Lasa Supergenics: Rises On CEP Application
Shares of the veterinary products maker rose to a lifetime high of Rs 209.35 after rising as much as 4.99 percent.
Lasa Supergenerics Ltd. informed via an exchange filing that it has filed a new certificate of suitability or CEP application with the European Directorate for the Quality of Medicines.
The stock has gained for the fourth straight session.
Apar Industries: Rises On Joint Venture
Shares of the aluminium conductor manufacturer rose as much as 3.73 percent to Rs 825.25, after snapping a two-day decline period.
Apar industries Ltd. has entered into a joint venture agreement with PPS Motors Private Ltd. for marketing a brand of lubricants onwed by PPS Motors. Share of Apar Industries in the joint venture is 40 percent while the rest will be with PPS Motors.
Ten analysts covering this stock have a ‘Buy’ recommendation whereas one analyst recommends ‘hold’.
Sagar Cements: Surges On Target Revision
Shares of the Hyderabad-based cement maker rose to a lifetime high of Rs 1,048 after rising 15.23 percent, which is the highest jump in a year.
Ventura Securities revised the company's price target to Rs 1,175 from Rs 941 on the back of a strong revenue trajectory and low cost initiatives.
All analysts covering Sagar Cements Ltd. have a ‘Buy’ rating on the company’s stock.
Orient Green Power: Rises On Subsidiary Sale
Shares of the renewable energy project developer rose as much as 18.18 percent to Rs 13.
The company informed the bourses yesterday that it sold eight of its biomass subsidiaries to Janati Bio Power Private Ltd.
Till now, none of the analysts have Orient Green Power Company Ltd.'s stock in their portfolio.
Stocks Reacting To Block deals
Coal India
- 30 lakh shares chabged hands in a single block
- Shares of Coal India Ltd. rose as much as 0.72 percent to Rs 272.
MEP Infra
- 23 lakh shares changed hands in a single block
- Shares of MEP Infrastructure Developers Ltd. rose as much as 14.15 percent to Rs 105.65
Berger Paints
- 22.4 lakh shares changed hands in a single block
- Shares of Berger Paints India Ltd. rose as much as 1.8 percent to Rs 269
