ADVERTISEMENT

Stocks Radar: DHFL, Emami, SBI Life, TV Today, V2 Retail, IFCI

Here are the stocks moving the market in today’s trade.

Pedestrians walk past an electronic ticker board displaying stock figures at the Bombay Stock Exchange in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)  
Pedestrians walk past an electronic ticker board displaying stock figures at the Bombay Stock Exchange in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)  

The Indian equity benchmarks pared opening losses and were little changed at 11:00 am today. the NSE Nifty 50 was trading 0.08 percent up at 11,805.30 points and the BSE Sensex was 0.07 percent higher at 39,462.19.

The market breadth was tilted in favour of buyers. About 743 stocks advanced and 712 shares declined on the National Stock Exchange.

Eight of the 11 sectoral gauges compiled by the NSE advanced, led by a 0.68 percent gain in the Nifty Pharma index.

Here are the stocks in news today morning:

DHFL Stumbles On Delayed Repayment Of Commercial Papers

Shares of Dewan Housing Finance Corporation Ltd. fell 3.3 percent to Rs 72.95 apiece, after it partly delayed the repayment of commercial paper coming up for redemption.

DHFL said it repaid 40 percent, or Rs 150 crore, of the Rs 375 crore in commercial papers due on June 25, while the remaining Rs 225 crore will be repaid in the next couple of days once the “surplus cash flow position improves".

The stock traded at about three times its 20-day average.

Emami Extends Gains After Promoters Sold Stake

Shares of Emami Ltd. rose as much as 4.8 percent to Rs 304.3 apiece, extending gains for the second day after its promoters sold a 10 percent stake for Rs 1,230 crore on June 24.

The proceeds will be primarily used for paring debt at the promoter level, Emami had said in an exchange filing. The total promoter stake in Emami now stands at 52.74 percent.

Emami’s trading volume was 8 percent above the 20-day average, according to data compiled by Bloomberg.

Opinion
Emami Stake Sale Said To Be Aimed At Gaining Investor Confidence

Confidence Petroleum Rises On Allotment Of Convertible Warrants To Promoter

Shares of Confidence Petroleum India Ltd. rose as much as 2.14 percent to Rs 35.75.

The LPG cylinder maker allotted 10.96 lakh convertible warrants to its promoter M/S Gaspoint Petroleum, carrying an option to subscribe a share at a premium of Rs 51 per share for every warrant held within 18 months from the date of allotment.

The stock made its market debut on June 13 and has fallen over 9 percent till date.

SBI Life Insurance At Over 52-Week High

SBI Life Insurance Co. Ltd. gained as much as 6.03 percent to Rs 715 a share, the highest since June 13, 2018. Its offer for sale opened to retail investors today.

Trading volume was more than 30 times the 20-day average for this time of the day. The SBI Life stock trades 10 percent below Bloomberg consensus one-year target price.

V2 Retail Rises Most In Nearly A Month On Heavy Volumes

Shares of V2 Retail Ltd. rose as much as 17.5 percent, the most in nearly a month, to Rs 181.50 apiece.

Trading volume was more than 16 times its 20-day average, according to Bloomberg data. The relative strength index of the stock was below 30, indicating that it may be oversold, according to Bloomberg data.

ONn Tuesday, the stock ended 16 percent lower, their steepest decline in nearly four years. The scrip fell in 13 trading sessions so far this month.

IFCI Surges On Divestment Plans

Shares of infra lender IFCI Ltd. rose 7.3 percent to Rs 10.07 apiece after it decided to exit National Stock Exchange Ltd. by selling its over 2 percent stake in the bourse.

The company's board in a meeting on Monday approved to divest the stake as part of its initiative to exit the non-core business.

The stock's trading volume was over nine times the 20-day average.

TV Today Network Surges After HDFC AMC Raises Stake

Shares of TV Today Network Ltd. rose 10.7 percent, the most in nearly a year, to Rs 285.90 apiece after HDFC Mutual Fund increased its stake in the media company to 7.14 percent by acquiring 2.14 percent from the open market on June 24, BSE data showed.

Trading volume was 12 times the 20-day average for this time of the day, Bloomberg data showed, The stock traded 30 percent below the Bloomberg one-year target price.