Bajaj Electricals, Gujarat Gas, VRL Logistics, Tata Motors to BHEL, - here are top Buzzing Stocks today

Domestic equity indices were trading firm up over 1.10%, in Monday's noon trade after opening higher for the sixth straight day, on the back of favourable global cues. At 12:15 pm, the S&P BSE Sensex was trading 569.22 points or 1.12% high at 51,300.85 and Nifty 50 was trading 169.30 points or 1.13% up at 15,093.55. M&M surged 6.72% was the top Nifty 50 gainer and was followed by Hindalco (up 4.01 per cent) and Bharti Airtel, Bajaj Finserv, Larsen & Turbo all up more than 3%.

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Meanwhile, there are certain stocks which were in action in either direction based on reports linked to them. Here is a list of few such stocks:

Bajaj Electricals (up 14.02%): The shares were trading higher today after it reported a robust consolidated net profit of Rs 98 crore in the December quarter (Q3FY21). 

Mahindra & Mahindra (up 6.44%): Mahindra and Mahindra (M&M) share price jumped in the morning session on February 8. The auto major reported a massive 39.6% year-on-year growth in profit at Rs 530 crore for the quarter ended December 2020.

Gujarat Gas (up 12.49%): Shares of Gujarat Gas surged in intra-day trade on Monday, amid heavy volumes, after the company’s consolidated net profit nearly doubled to Rs 392 crore in the December quarter (Q3FY21) on the back of healthy revenue growth. The company had posted a profit of Rs 197 crore in the year-ago quarter.

VRL Logistics (up 10.53%): Shares of VRL Logistics surged more than 10% after the company's board approved a proposal to buy back shares worth up to Rs 60 crore. The company proposes to buy back shares at a maximum price of Rs 300 each. The company has also reported a 53.9% year-on-year rise in consolidated profit at Rs 39.7 crore for the quarter ended December 31, 2020.  

Tata Motors (up 2.04%): The shares of the automotive company were trading higher as the promoters have increased their stakes in the company from 42.39% to 46.41%. They have increased the stakes due to warrant conversion. Warrants were issued on January 29, 2021.

BHEL (down 7.92%): Shares of BHEL plunged around 8 per cent in Monday's trade after the state-run engineering firm reported a consolidated net loss of Rs 217.86 crore for the October-December quarter due to lower revenues. State-run engineering firm reported a standalone net loss of Rs 231 crore for the October-December quarter due to lower revenues.

IOC (up 0.88%), GAIL (up 3.20%), HPCL (up 1.84%): The stocks of OMCs were trading higher today as the core group of secretaries is scheduled to meet today at 3:30 pm to discuss asset monetization of the three firms. 

EXCLUSIVE-PI Industries (down 0.67%), Rallis India (up 0.17%): The stock of these two companies were trading higher today. Sources have informed Zee Business that the government has a focus on promoting the domestic agrochemical sector and the purpose the government has planned a large PLI scheme for the sector. It has a planned production linked incentive of Rs 6,000 crore as it wants to reduce the increase in the import of agrochemicals in India. Currently, 100 thousand metric tons are imported every year to the country.

NTPC (up 0.45%): The shares of the state-run power giant NTPC were trading in higher after the company in a statement said an avalanche near Tapovan in Uttarakhand has damaged a part of our under-construction hydropower project Tapovan Vishnugad (520 MW) in the region. While rescue operations are on, the situation is being monitored continuously with the help of district administration and likely loss or damage caused is being assessed. Appropriate insurance cover is available for the loss/damage caused.