Stocks Radar: Adani Ports, Kalpataru Power Transmission, Tata Motors, Titan
Here are the stock moving the market this morning.
Indian equity benchmarks opened higher today after declining for the past two sessions. The Asian stocks had a muted start to the final day of what’s been the worst quarter in nearly three years, mainly characterised by trade tensions between the U.S. and China.
The S&P BSE Sensex gained as much as percent to 0.6 percent to 35,212.3 and the NSE Nifty 50 Index rose as much as percent to 0.6 percent to 10,644.20 as of 9:55 am.
The market breadth was tilted in favour of buyers. All the sectoral gauges compiled by the National Stock Exchange gained, led by a 1.8 percent gain in the NSE Nifty PSU Index.
Here Are The Stocks Moving The Market This Morning
Adani Ports Swings After New Buy
Shares of the private port operator gained 3.8 percent intra-day before trading flat at Rs 361.80 apiece. The company has acquired Kattupalli port from L&T, according to a regulatory filing.
The scrip declined 4.6 percent in the past month compared to a 0.6 percent advance in the Sensex.
Kalpataru Power Transmission Gains After Bagging New Orders
Shares of the global power transmission and infrastructure company today snapped its six-day decline and rose as much as 4.1 percent to Rs 407.80 apiece. The company received new orders worth Rs 1,253 crore, according to its exchange notification.
The trading volume was 39.5 times the 20-day average, according to Bloomberg data.
Titan Swings After Ace Investor Trims Stake
Shares of the jewellery retailer hovered between gains and losses today to trade at Rs 844.45 apiece after billionaire investor Rakesh Jhunjhunwala reduced stake in the company.
The stock traded 19 percent below the Bloomberg consensus target price of the stock reaching in 12 months.
InterGlobe Aviation Falls After Rating Downgrade
Shares of the parent of low-cost aircraft fell as much as 2.4 percent today to Rs 1,070.75 apiece as of 9:54 a.m following a rating downgrade by Credit Suisse.
The rating agency, which lowered its rating to ‘Neutral’ from ‘Outperform’, reduced its forecast of price reaching in the next 12 months to Rs 1,200 from Rs 1,575.
The stock declined 8 percent so far this year and fell 2.4 percent in the last 12 months, Bloomberg data showed.
Tata Motors Gains After Response On Reports About EV’s Performance
Shares of the automaker today gained for the first time in the week after the company responded to reports about its Tigor electric vehicles’ poor performance.
The scrip gained as much as 2 percent to Rs 268.5 apiece. The shares traded at 11.8 times trailing 12-months earning per share and 8.4 times its estimates for the coming year.
NDTV Hits Upper Circuit Again
Shares of the Delhi-based news broadcast company hit an upper circuit for the third straight session today. NDTV rose by its maximum daily limit of 10 percent to Rs 51.45 apiece.
The stock has been gaining after market regulator SEBI on Wednesday ordered Vishvapradhan Commercial to make an open offer for NDTV.
Mahindra CIE Surges After Block Deal
The stock of the company rose as much as 9.2 percent today to Rs 267.95 apiece. About 1.87 crore shares, or 4.9 percent equity, traded in a block deal on the NSE, according to Bloomberg data.
The trading volume was 105.8 times its 20-day average, the data showed.