Stocks In News Today: Asian Paints, Bharti Airtel, NMDC, Future Supply, Vodafone Idea
Hee’s a look at the stocks in news moving the markets today.
Indian equity benchmarks extended gains for the second consecutive trading session to open at fresh all-time highs.
The S&P BSE Sensex rose as much as 0.3 percent to hit a new high at 41,480.91 and the NSE Nifty 50 rose as much as 0.28 percent to hit a fresh lifetime high at 12,199.05.
The Broader markets represented by the NSE Nifty 500 Index rose as much as 0.25 percent. Besides, the NSE Nifty Bank Index, too, hit a fresh record high at 32,293.55 after gaining as much as 0.48 percent.
The market breadth was tilted in favour of buyers. About 845 stocks advanced and 616 shares declined on National Stock Exchange. Six out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty IT Index’s 0.86 percent advance. On the flipside, the NSE Nifty PSU Bank Index was the top sectoral loser, down 0.83 percent.
Hee’s a look at the stocks in news moving the markets today:
New India Assurance Extends Gain, Shares Surge Over 8%
Shares of The New India Assurance Ltd. extended gains for the second consecutive trading session. The stock rose as much as 8.4 percent to Rs 144.85.
Trading volume was more than 17 times its 20-day average. Bloomberg data showed. The stock declined 32 percent in the past 12 months compared to a 14 percent advance in the Sensex.
Airtel, Vodafone Idea Swing After TRAI Defers Zero-IUC Regime
Shares of Bharti Airtel Ltd. swung to fall as much as 1.3 percent to Rs 434.15 from as much as 1.6 percent, while shares of Vodafone Idea Ltd. swung to fall as much as 5.8 percent to Rs 6.50 from a gain of as much as 6.5 percent.
India’s telecom operators will continue to pay cross-network call charges for another year—a move that will benefit the two incumbent operators.
For domestic calls, the interconnection usage charge of Rs 0.06 per minute will now stay till Dec. 31, 2020, the Telecom Regulatory Authority of India said in a media note on Tuesday. “From Jan. 1, 2021, onwards, the termination charge for wireless to wireless domestic calls shall be zero.”
Besides, about 15 lakh shares of Bharti Airtel changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
Asian Paints Falls After Large Trade
Shares of Asian Paints fell as much as 0.7 percent to Rs 1,733.65.
About 11.4 lakh shares of the company changed hands in a large trade during pre-market, Bloomberg data showed. Buyers and sellers were not known immediately.
NMDC Gains As Chhattisgarh Extends Leases For Iron Ore Mining
Shares of NMDC Ltd. rose as much as 1.5 percent to Rs 119.
The company received an extension in respect of mining leases for four deposits for 20 years by Chhattisgarh Government. The mining leases were earlier valid up to March 2020.
NMDC has also received an allocation of Rohne Coal Block, which would ensure the coking coal requirement of NMDC's upcoming steel plant at Nagarnar, Chattisgarh to some extent. The mineral company said in a media statement that the allocation would reduce the import of coking coal.
Future Supply To Allot Shares To Nippon Express, Stock Swings
Shares of Future Supply Chain Solutions Ltd. fluctuated between gains and losses to trade 0.1 percent higher at Rs 489.25.
The company’s board approved an allotment of 37.89 lakh shares to Nippon Express on a preferential basis at a price of Rs 664 per share, which is at a 36 percent premium to the closing prices as on Dec. 17.