Stocks Radar: Alembic Pharma, Fortis Healthcare, L&T, Strides Shasun
Indian equity benchmarks extended their gains for the second consecutive session today. The S&P BSE Sensex rose as much as 0.2 percent to 35,567.82 and the NSE Nifty 50 Index gained as much as 0.3 percent to 10,816.
The market breadth was tilted in favour of the buyers. Nine of the 11 sector gauges compiled by the National Stock Exchange advanced, led by the Nifty Pharma Index’s 1 percent gain. The Nifty Realty Index was the top sectoral loser, down 0.2 percent.
Here Are The Stock Moving The Markets This Morning
L&T Gains After Order Win
Shares of the construction company rose as much as 0.6 percent today to Rs 1,351 apiece.
The company received a Rs 1,387-crore project from Amaravati Development Corporation Ltd. to construct a bridge across the Krishna River at Amaravati, Andhra Pradesh, according to its exchange filing.
The stock trades at 22.1 times estimated forward earnings per share compared with 23 times for two-year historical average, Bloomberg data showed.
Fortis Healthcare Falls After Board Defers Financial Results
Shares of the hospital chain operator fell as much as 1.4 percent in today’s session to Rs 141.75 apiece after the company’s board deferred its financial results for the quarter ended March 2018 and the full year to June 25.
The stock declined 10 percent so far this year and fell 25 percent in the past 12 months.
Strides Shasun Gains After FDA Boost
Shares of the drugmaker rose as much as 5.5 percent to Rs 369 apiece in early trade on Tuesday as the company received an U.S. FDA approval for its generic Tamiflu capsules.
Strides Shasun trades at 9.3 times trailing 12-month earnings per share and 18 times its estimates for the coming year, according to Bloomberg data. The stock is 31 percent below the Bloomberg consensus one-year price target.
Welspun Corp Rises After Order Win
Shares of the pipe maker extended gains for the second day and rose as much as 3.1 percent to Rs 140.55.
The company received an order for 33 KMT of pipes for an oil and gas project in America, according to its exchange notification.
The stock rose 39.9 percent over the past year compared with a 15.7 percent advance in the Sensex.
Alembic Pharma Gains After Jump In Volumes
Shares of the pharmaceutical company rose as much as 3.9 percent today to Rs 540.
Trading volume of the drugmaker was 156.1 times its 20-day average, according to Bloomberg data. Alembic Pharma trades at 23.8 times trailing 12-month earnings per share and 22 times its estimates for the coming year.