The stock is making buzz today | Tech Reddy

Market Crack is designed for viewers to see which stocks are buzzing in trade today. We pick a handful of stocks that are showing sharp moves and discuss why they’re newsworthy for today.

Stock specific action saw Tata Steel, Hindalco, Ultratech Cement, TCS, Tech Mahindra, Grasim emerge as the top Nifty gainers, while ICICI Bank, Eicher Motors, UPL, Cipla, Bajaj Auto and Power Grid were the top Nifty losers today.

These stocks were buzzing in trade today on the back of news flow or brokerage notes-

1. Hatsun Agro-

The stock is trading sky high today, up nearly 10% today. The board will meet on December 3 to finalize the terms of the Rs 400 crore rights issue, which was approved in September. The company announced a 700cr QIP in August and the company’s debt stood at Rs 1,553 crore in Q2FY23.

2. Easy Trip Planner-

Online travel agency Easy Trip Planner rose 9.7% to Rs 68.9, its sharpest intraday gain since November 22. The company said it has entered into a definitive agreement to acquire a 75% stake in Nutana Aviation Capital IFSC. Easy Trip is looking to make acquisition moves to bolster its non-air travel business, its co-founder said on Tuesday, adding that a pickup in demand would set it up for a strong third quarter.

3. IT Stocks-

Stocks related to the IT space like Infosys, Emphasis, L&T Tech, Coforge, HCL Tech, etc. traded higher anywhere between 3-8% in trade. This comes back to Fed Chairman Jerome Powell’s comments about slowing interest rate hikes. He said that rate hikes will continue in December, but at a slower pace. The news bodes well for Indian IT companies, and stocks were rallying in today’s trading session.

4. Shilpa Medicare-

The stock saw its biggest single-day gain since May 24, 2022. The stock rose 7.5% today on the back of news that the company’s Telangana manufacturing facility had received Health Canada GMP approval for inspections conducted since September. 12, 2022 to September 16, 2022 This facility is involved in the manufacturing, packaging, labeling and testing of finished dosage forms (sterile injectables and oral solids) for cancer treatment and adjuvant therapy.

5. Timken India-

Up nearly 8% in trade today, Timken India saw a huge rally. Timken India is poised to benefit from macro tailwinds in the bearing industry such as relocation of manufacturing facilities to India, entry into new segments and new vertical developments, JM Financial said. Key highlights include an investment of Rs 600 crore over the next 24 months to expand its addressable market size, including CRBs and SRBs (primarily used in mining, paper pulp and wind), with an estimated industry size of Rs 3,700 crore.

6. TCI Express-

7. NELCO-

Nelco rose as much as 6.1%, the most since Nov. 21, after The Economic Times reported that the company plans to offer satellite broadband services. Based on that, the stock is up nearly 6% in trading today.

8. Tamil Nadu Mercantile-

Tamil Nadu Mercantile Bank rose nearly 4% in today’s trade. The bank has received approval from RBI to conduct government business on its behalf. This news flow has boosted the stock in today’s trading session.

9. Cosmo Movie-

Cosmo First has approved a share buyback of Rs 1.08 billion at Rs 1,070 per share. Based on this news flow, the stock rose 3% in trading today.

10. Tata Motors-

The stock traded slightly lower today, based on a brokerage note. Goldman Sachs has maintained a neutral rating on the stock with a target of Rs 450 per share compared to the current market price of Rs 437.