A market chart is displayed on a computer screen on the floor of a stock exchange. (Photographer: Daniel Acker/Bloomberg)

Stocks Radar: Avanti Feeds, Fortis Healthcare, Bharat Electronics

India’s equity benchmarks rebounded from Monday’s slide after prices of crude oil, the nation’s biggest import, tumbled to a three-week low.

The S&P BSE Sensex gained 0.1 percent as of 10:37 a.m. while the NSE Nifty rose 0.2 percent to 10,955.

The market breadth was slightly tilted in favour of buyers. Ten of the 11 sectoral gauges compiled by the National Stock Exchange gained, led by the NSE Nifty PSU Bank Index’s little over 1 percent advance. The NSE Nifty FMCG Index was the lone loser, down 0.37 percent.

Here Are The Stocks Moving The Market This Morning

Fortis Slides For A Second Day

Shares of the healthcare provider slid as much as 1.2 percent at Rs 143.50 apiece.

IHH Healthcare on Monday issued a mandatory open offer to shareholders of Fortis, the healthcare services provider said in a filing to the Securities and Exchange Board of India. IHH Healthcare announced that over 19.7 crore shares were up for acquisition.

Japanese brokerage Nomura upgraded the stock to ‘Buy’ from ‘Neutral’, with a target price of Rs 171. The stock trades at 15.8 times trailing the 12-month earnings per share and is 20 percent below the Bloomberg consensus one-year target price.

UPL Gains Snaps 4-Day Losing Streak

Shares of the chemical producer ended their four-day losing streak and gained as much as 0.3 percent at Rs 561.65 apiece.

Indian chemical producer is seeking a loan of about $3 billion to help fund its bid for a Platform Specialty Products Corp. agricultural pesticides unit backed by shareholder activist Bill Ackman, according to a Bloomberg report quoting people with knowledge of the matter.

The trading volume is 18 percent of the 20-day average. The stock is 39 percent below the below the Bloomberg consensus one-year target price.

Bharat Electronics Surges After SAAB Pact

Shares of the electronic equipment maker gained as much as 2.3 percent to Rs 103.35 after the company announced its deal with Sweden’s SAAB for a 3D air surveillance radar.

The volume was 1.7 times the 20-day average. The stock trades at 17.6 times trailing the 12-month earnings per share, according to Bloomberg data.

BEML Jumps After L&T Deal

Shares of the state-run company gained as much as 3.55 percent at Rs 792.45 apiece after the company announced a deal with Larsen & Toubro to explore exports of defence products, projects, systems and services.

The stock trades at 25.4 times trailing the 12-month earnings per share. The volume was nearly four times the 20-day average, Bloomberg data show.

Avanti Feeds Plunge After U.S. Fixes Anti-Dumping Rate

Shares of the shrimp feed maker fell as much as 7 percent, its lowest level in at least a year, at Rs 415.95 apiece after the U.S. Department of Commerce finalised the anti-dumping duty rate on certain frozen warm water shrimp from India.

The American anti-dumping rate, at 1.35 percent, also derailed the stocks of fishery firm Waterbase, which fell as much as 4.88 percent. Aquaculture produce exporter Apex Frozen Foods, too, felt the heat after its stock declined nearly 5 percent.

Shares of Avanti Feeds trades at 12.7 times trailing the 12-month earnings per share, according to Bloomberg data.

Adani Ports Gains After Rail Logistics Joint Venture

Shares of Adani Ports And Special Economic Zone Ltd. gained as much as 1.6 percent at Rs 364.70 apiece after it announced a joint venture with NYK Auto Logistics.

The stock trades at 20 times trailing the 12-month earnings per share, Bloomberg data show.