Stock Radar: Bajaj Electricals, Fertiliser Shares, Havells India
Here are the stocks moving the market this morning.
Indian equity benchmarks were trading flat having swung between gains and losses in opening trade. The S&P BSE Sensex rose as much as 0.1 percent to 33,863.81, while the NSE Nifty 50 Index rose as much as 0.1 percent to Rs 10,420 in early trade.
The market breadth was tilted in flavour of buyers. Ten out of 19 sector gauges compiled by the BSE were trading higher led by the S&P BSE Healthcare index's 0.3 percent gain. On the other hand, the S&P BSE Oil & Gas index was the top sectoral loser, down 0.7 percent.
Here Are The Stocks Moving The Market This Morning
Fertiliser Shares Rally After Government Extends Urea Subsidy
Shares of the fertiliser makers were trading higher after the government approved a proposal to extend urea subsidy till 2020 and implement direct benefit transfers (DBT) for disbursement of the fertiliser subsidy.
Fertilser & Chemicals Travancore, National Fertilisers, Gujarat Narmada Valley Fertilisers & Chemicals rose 3-8 percent.
Havells India: Inks Pact
Shares of the electrical equipment maker extended gains for the seventh day, its longest winning streak in over 14 months. The stock rose as much as 1.5 percent to Rs 525.
The company yesterday signed an agreement with Hyundai Electric & Energy Systems and the latter is said to grant a license to manufacture, and market magnetic contactors under Havells brand, according to its stock exchange notification.
The stock has returned 21.5 percent over the past year, compared to 16.3 percent rise in Sensex.
Wipro: Gains After Unit Operations Sale
Shares of the information technology firm rose as much as 2.8 percent to Rs 302.
The Azim Premji-led company plans to sell hosted data centre services operations to U.S. based Ensono for $405 million, according to its stock exchange notification.
Trading volume was 3.7 times its 20-day average. Wipro trades at 17.2 times trailing 12-month earnings per share and 17 times its estimates for the coming year, Bloomberg data showed.
Welspun Enterprises: Gains After Winning NHDP Project
Shares of the construction company snapped a two-day decline and rose as much as 2.2 percent to Rs 156.60.
The company emerged as the lowest bidder at Rs 140 crore in NHDP project in Tamil Nadu, according to its stock exchange notification.
The stock returned a negative 12 percent so far this year, but has gained 132 percent over the past 12 months.
Stocks Moving On Heavy Volumes
Indian Hotels
- Stock rose as much as 5 percent to Rs 137,
- Trading volume was 814.5 times its 20-day average.
Bajaj Electricals
- Stock fell as much as 1.6 percent to Rs 611.50.
- Trading volume was 24.7 times its 20-day average.