Asahi Songwon, Amrutanjan and Federal-Mogul Goetze - here are the top Buzzing Stocks today

The domestic stock benchmarks were trading with deep cuts in the early noon deals of Thursday, February 24, 2022, as escalating tensions between Russia and Ukraine dampened investors' sentiment. The Nifty was trading below the 16,550 mark. Banks stocks witnessed steep selling. At 12:49 pm, the S&P BSE Sensex was trading at a loss of 1,940.23 points or 3.39% at 55,291.83. Nifty 50 index was 589.80 points or 3.46% down and was trading at 16,473.45. Meanwhile, certain stocks were in action in either direction based on reports linked to them. Here is a list of some of such stocks:

Buzzing Stocks

• Asahi Songwon: Up 11.02%.
• Amrutanjan: Up 1.62%.

Declining Stocks

Banking & Financial Stocks

1. PSU Banks: Under pressure. Stocks like PNB - down 7.10%; J&K Bank - down 6.12%; Canara Bank - down 5.96%; IOB - down 5.90%; Union Bank - down 5.76%; Central Bank - down 5.21%; Bank of India - down 4.87%; SBI - down 3.35% among others were trading in the negative territory with huge falls.
2. Private Banks: Under pressure. Stocks like RBL Bank - down 7.82%; IDFC First Bank - down 6.70%; IndusInd Bank - down 6.05%; Bandhan Bank - down 5.83% and Federal Bank - down 5.08% among others were trading in the negative territory with huge falls.
3. Financial Services Stocks: Under pressure. Stocks like HDFC AMC - down 5.08%; M&M Finance - down 5.07%; REC Ltd - down 4.20%; Shriram Transport Finance - down 4.19%; PFC - down 4.14%; Cholamandalam Investment and Finance - down 3.94%; ICICI Prudential - down 3.72 and HDFC Life - down 3.66% among others were trading in the negative territory with huge falls.

Realty Stocks: Under pressure. Stocks like Indiabulls Real Estate - down 7.84%; Macrotech Developers - down 7.73%; Godrej Properties - down 5.37%; DLF - down 4.55%; Phoenix Mills - down 3.72%; Oberoi Realty - down 3.49%; Prestige Estate - down 3.06% and Sobha - down 2.62% among others were trading in the negative territory with huge falls.

Oil & Gas Stocks: Under pressure. Stocks like IGL - down 5.62%; MGL - down 5.13%; MRPL - down 5.03%; Gujarat Gas - down 4.33%; Petronet - down 4.31%; GAIL - down 4.01%; Reliance - down 2.99% among others were trading in the negative territory with huge falls.

Auto Stocks: Under pressure. Stocks like Tata Motors - down 6.44%; Hero MotoCorp - down 5.22%; M&M - down 4.02%; Ashok Leyland - down 3.83%; TVS Motor - down 3.06% and Maruti Suzuki - down 2.82% were trading in the negative territory with huge falls.

FMCG Stocks: Under pressure. Stocks like Tata Consumer - down 4.07%; Procter & Gamble Hygiene - down 3.93%; Varun Beverages - down 3.56%; Radico Khaitan - down 2.92%; UBL - down 2.51%; Marico - down 2.30% and Godrej Consumer Products - down 2.27% among others were trading in the negative territory with huge falls.

IT Stocks: Under pressure. Stocks like Coforge - down 5.18%; Mindtree - down 4.81%; Tech Mahindra - down 4.41%; Mphasis - down 4.13%; HCL Technologies - down 3.94%; LTI - down 3.85% and LTTS - down 3.68% among others were trading in the negative territory with huge falls.

Metal Stocks: Under pressure. Stocks like SAIL - down 6.59%; Adani Enterprises - down 4.56%; Jindal Steel - down 4.49%; Welspun Corp - down 4.01%; Hindustan Copper - down 3.58%; JSW Steel - down 3.22% and JSW Steel - down 3.19% among others were trading in the negative territory with huge falls.

Healthcare Stocks: Under pressure. Stocks like Strides Pharma - down 6.90%; Laurus Labs - down 5.08%; Cadila Healthcare - down 4.98%; Lal Pathlabs - down 4.93%; Lupin - down 4.60% and Glenmark - down 4.20% among others were trading in the negative territory with huge falls.

Consumer Durable Stocks: Under pressure. Stocks like  Rajesh Exports - down 5.25%; VGuard - down 4.70%; Relaxo - down 4.36%; Dixon Technologies - down 3.84%; Bata India - down 3.57% and Titan - down 2.91% among others were trading in the negative territory with huge falls.

Wood and Wood Product Stocks: Under pressure. Stocks like Greenlam Industries - down 4.34%; Archidply Industries - down 4.95%; Stylam Industries - down 2.68%; Greenply - down 3.93% and Century Ply - down 2.88% were trading in the negative territory with huge falls.

Tyre Stocks: Under pressure. Stocks like Birla Tyres - down 10.04%; Apollo Tyres - down 7.73%; JK Tyre - down 5.81%; Balkrishna Industries - down 4.86%; TVS Srichakra - down 3.36%; CEAT - down 3.62%; MRF - down 3.32% and Goodyear Tyre - down 2.87% were trading in the negative territory with huge falls.

Tour & Travel Stocks: Under pressure. Stocks like Tourism Finance Corporation - down 8.26%; Easy Trip Planners - down 6.15%; IRCTC- down 6.37%; BLS International - down 4.99%; Mahindra Holidays - down 4.97%; ITDC - down 4.54%; Thomas Cook - down 3.01% and ITC - down 2.43% were trading in the negative territory with huge falls.

Telecom & Related Stocks: Under pressure. Stocks like Indus Towers - down 15.99%; Vodafone Idea - down 7.48%; Bharti Airtel - down 3.80%; MTNL - down 8.42%; ITI Ltd. - down 6.88%; Sterlite Technologies - down 7.41%; Railtel India - down 4.43%; Tejas Network - down 4.92% and Tata Communication - down 4.27% were trading in the negative territory with huge falls.

Aviation Stocks: Under pressure. Stocks like IndiGo - down 8.06%; Global Vectra - down 4.98%; Taneja Aerospace - down 4.97%; Jet Airways - down 4.95% and SpiceJet - down 5.85% were trading in the negative territory with huge falls.

Aluminium Stocks: Under pressure. Stocks like Maan Aluminium - down 6.03%; Manaksia Aluminium - down 3.27%; PG Foils - down 4.33% and Vedanta - down 2.23% were trading in the negative territory with huge falls.

Sugar Stocks: Under Pressure. Stocks like Renuka Sugar - down 8.99%; KCP Sugar - down 8.20%; Mawana Sugar - down 8.39%; Rana Sugar - down 7.68%; Dwarikesh Sugar - down 6.11% and Dhampur Sugar - down 5.90% among others were trading in the negative territory with huge falls. Sugar stocks will remain in focus as Prime Minister's Office (PMO) is scheduled to meet today at 4 pm to have a discussion on Ethanol Blending. The meet will be attended by Food Secretary, Petroleum Secretary and NITI Aayog officials.

Q3FY22 Earnings Reaction

• Sanofi India: Down 0.71%. The pharmaceutical company has reported a 26.5% YoY decline in the net profit at Rs 90.4 crore for the quarter ended December 31, 2021, as compared to Rs 123 crore posted in the corresponding quarter last year. Revenue from operation dropped 4.5% YoY to Rs 687.9 crore against Rs 720.3 crore posted last year. EBITDA stood at Rs 127.2 crore, down 23.8% YoY from Rs 167 crore posted last year. Margins dropped to 18.5% in Q3FY22 from 23.2% posted in Q3FY21. In the base quarter, there was an exceptional gain of Rs 7.8 crore. Besides, the company has declared a dividend of Rs 490 per equity share ( this includes a Final Dividend of Rs 181 per equity share of Rs. 10 each for the year ended 31st December 2021 and a special dividend of Rs 309 per equity share of Rs. 10 each for the year ended 31st December 2021). 

Stocks in News

• Federal-Mogul Goetze: Up 6.20%. Pegasus Holdings III, LLC, has made an open offer to buy 25.02% of the fully diluted voting share capital of Federal-Mogul Goetze (India) Limited. Pegasus Holdings III, LLC will acquire up to 1,39,16,676 fully paid-up equity shares at Rs 275 per offer share aggregating to a total consideration of up to Rs 382.8 crore. The open offer for the company came due to the merger between Pegasus Merger Co and Tenneco Inc. Tenneco holds a 100% stake in Federal-Mogul Mauritius and Federal-Mogul Germany under subsidiaries. Federal-Mogul Mauritius and Federal-Mogul Germany are the promoter companies of Federal-Mogul India. Promoter holds a 74.98% stake in Federal-Mogul India. Pegasus will hold a 74.98% stake in Federal-Mogul India after the merger of Pegasus Merger Co and Tenneco Inc.
• Vodafone Idea: Down 7.48%. Vodafone Group, reported by Bloomberg, will offload 2.4% stakes (6.36 crore shares) of tower firm Indus Towers. The raised funds will be invested in Vodafone Idea (through new equity shares issued by Vodafone). The company will further sell an additional 4.7% stake. After the two stake sales, Vodafone Idea will have 21% stakes in Indus Tower business and currently, the telecom holds 28.1% stakes in the company. PTI says: Vodafone may sell 5% of Indus Tower to Airtel.
• Vedanta: Down 2.23%. Mining major Vedanta Ltd on Wednesday said its Board of Directors will consider and approve the third interim dividend on equity shares, if any, for the fiscal year 2021-22 on March 2, 2022. The record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, has been fixed on Thursday, March 10, 2022.