Stocks In News: Bandhan Bank, DHFL, IRCTC, GAIL India, Thomas Cook India
Here’s a look at the stocks in news moving the markets today.
Indian equities fluctuated between gains and losses in early trade.
The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 41,313 and 12,125, respectively. The broader markets represented by the NSE Nifty 500 Index rose 0.14 percent.
Nine out of 11 sectoral gauges compiled by the National Stock Exchange traded lower, led by the NSE Nifty Metal Index’s 0.6 percent fall. On the flip side, the NSE Nifty Pharma Index was the top sectoral gainer, up 0.8 percent.
Here’s a look at the stocks in news moving the markets today:
IRCTC Gains For Third Straight Trading Session, Stock Hits Record High
Shares of IRCTC Ltd. extended gains for the third consecutive trading session. The stock rose as much as 5.6 percent to hit an all-time high at Rs 1,935.15.
The Relative Strength Index was at 83, indicating that the stock may be overbought, Bloomberg data showed. The scrip advanced 16 percent in the past five days and 84 percent in the past 30 days.
GAIL India Halts Two-Day Gaining Streak
Shares of GAIL India Ltd. halted their two-day gaining streak. The stock fell as much as 1.1 percent to Rs 118.50.
The company clarified that it had received provisional assessment orders towards adjusted gross revenue dues worth Rs 1.83 lakh crore. The company said that the telecom dues matter under examination and the amount assessed in the telecom dues order is legally not tenable. The state-run gas utility had filed an application with Supreme Court on Jan. 23 seeking clarification of judgment passed.
The scrip declined 25 percent in the past 12 months compared to a 17 percent gain in the Sensex.
Thomas Cook India Surges Nearly 16% On Buyback Consideration
Shares of Thomas Cook India Ltd. rose as much as 15.5 percent, the most since Dec. 5, 2019, to Rs 47.65.
The company plans to consider repurchasing of shares on Feb. 26.
Trading volume was more than 40 times its 20-day average, Bloomberg data showed. Of the shares traded, 25 percent were at the ask price and 72 percent were at the bid.
DHFL Hits 5% Upper Circuit After Q3 Results
Shares of Dewan Housing Finance Corporation Ltd. hit their upper circuit of 5 percent at Rs 11.25 after announcing third quarter results.
Key Earnings Highlights (Q3)
- Deferred tax gain Rs 1,100 crore.
- Loss of Rs 6,090 crore during nine months to Dec. 31 has substantially eroded net worth of the company.
Source: Bloomberg
Bandhan Bank Pares Gain After Large Trade
Shares of Bandhan Bank Ltd. swung from a gain of as much as 1.5 percent to fall as much as 1.2 percent to Rs 410.10.
About 16.7 lakh shares of the company changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
The scrip traded at 19 times its estimated earnings per share for the coming year, according to Bloomberg data.