Electronic ticker boards indicate the latest stock figures inside the atrium at the National Stock Exchange (NSE) in Mumbai, India (Photographer: Dhiraj Singh/Bloomberg)

Stocks Radar: Axis Bank, Dilip Buildcon, Mahindra Holidays

Indian equity benchmarks rose after swinging between gains and losses in opening trade as shares of automakers rose while metals continued to tumble.

The S&P BSE Sensex Index rose as much as 0.4 percent to 33,490 and likewise for the NSE Nifty 50 Index traded at 10,284 after rising as much as 0.4 percent.

Nine out of 11 sectoral indices compiled by the National Stock Exchange advanced, led by NSE Nifty Media Index’s 1.4 percent gain. On the flipside, NSE Nifty PSU Bank Index was the top loser, down 0.8 percent.

Here Are The Stocks Moving The Market This Morning

Axis Bank: Falls After Stake Acquitision

Shares of the private lender fell as much as 0.8 percent to Rs 522.

The Mumbai-based lender acquired 18.4 lakh shares in Fortis Healthcare by invoking pledged shares, according to its stock exchange notification. Axis Bank held 3.55 percent in Fortis as of Feb. 23.

The stock trades at 14.8 times its estimated forward earnings per share, only slightly higher than the trailing two-year average. It has declined 7.4 percent so far this year, compared to a 1.7 percent decline in the country’s benchmark Sensex.

Mahindra Holidays: Gains After New ‘Buy’ Rating

Shares of the Mahindra group company extended gains for the second day and rose as much as 1.7 percent to Rs 299.

Brokerage Kotak Securities initiated coverage on the stock with a ‘Buy’ rating and a 12-month price target of Rs 388, implying a potential upside of over 30 percent. The stock is down 13 percent so far this year.

Mahindra Holidays trades at 24 times its estimated forward earnings per share for the coming year, according to Bloomberg data. The scrip is currently 24 percent below the Bloomberg consensus one-year price target.

Dilip Buildcon: Wins Order

Shares of the construction company extended gains for the fifth trading session, the longest winning streak in a year. The stock rose as much as 0.9 percent to Rs 1,013.

The company won the contract for a new project worth Rs 770 crore in Uttar Pradesh from the National Highways Authority of India, according to its exchange notification. It has returned 213.6 percent in the last 12 months, compared to nearly 17 percent increase in the country’s benchmark Sensex.

Info Edge India: Nomura Hikes Price Target

Shares of the recruiting service provider snapped a four-day decline and rose nearly 2 percent to Rs 1,227.85.

Research firm Nomura hiked its price target on the stock to Rs 1,400 from Rs 1,280, implying a potential upside of 14 percent from the current price.

The consensus price target of analysts tracked by Bloomberg stood at Rs 1,412. The stock trades at 7,540.4 times trailing 12-month earnings per share and 77 times its estimates for the coming year.

HG Infra Engineering: Debuts On Dalal Street

Shares of the Jaipur-based road construction company began trading on the BSE at the issue price of Rs 270 apiece. Thereafter stock fluctuated between Rs 252.60 and Rs 274.70.

HG Infra Engineering's Rs 462 crore IPO saw huge demand for its shares as the issue was subscribed 5 times on the last day of bidding.

Stocks Reacting To Bulk Deals

Ashapura Intimates Fashion

  • Stock rose as much as 2 percent to Rs 482.85
  • Promoter Harshad Hirji Thakkar bought 1.31 lakh shares or 0.5 percent equity at Rs 455 each.

Mayur Uniquoters

  • Stock rose as much as 3.4 percent to Rs 534.40.
  • Small Cap World Fund Inc bought 8.75 lakh shares or 1.9 percent equity at Rs 509 each
  • DBS Chola MF sold 4.37 lakh shares or 1 percent equity at Rs 509 each

Navin Fluorine

  • Stock rose as much as 2.4 percent to Rs 830.
  • Small Cap World Fund Inc bought 24.36 lakh shares or 4.9 percent equity at Rs 814.98 each.
  • Atyant Capital India Fund I sold 4.03 lakh shares or 0.8 percent equity at Rs 815 each.
  • GHI LTP Ltd sold 6.75 lakh shares or 1.4 percent equity at Rs 815 each.
  • Vanderbilt University sold 2.7 lakh shares or 0.5 percent equity at Rs 815 each.