Banking, NBFCs and Insurance stocks to Indus Tower - here are top Buzzing Stocks today

Stock market LIVE update: Indian equity markets were trading under pressure on Friday’s noon trade. At 12:51 pm, the S&P BSE Sensex was trading with a fall of 18.26 points or 0.04% 48,062.41. On the NSE, the Nifty 50 was trading at a loss of 13.25 points or 0.09% at 14,392.90. Meanwhile, certain stocks were in action in either direction based on reports linked to them. Here is a list of few such stocks:

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Banks rebound in trade: Nifty Bank index was trading with a gain of 0.55%. RBI directs banks to pay dividend up to 50% dividend in FY21. 

NBFCs are gaining: NBFC Stocks like Bajaj Finance – 0.37% up, Shriram Transport Finance Company – up 3.65%, Mahindra & Mahindra Financial Services – up 2.78% among others, were trading higher. 

Insurance is gaining: Insurance stocks, like ICICI Prudential Life Insurance – up 5.54%, SBI Life Insurance Company Ltd – up 1.68% and HDFC Life Insurance – up 0.84%, were trading higher. 

Metals doing well: Nifty Metal index was trading 0.59% higher. Metal shares, like Tata Steel, was 0.79% up, JSW Steel – 0.46% up, Hindustan Zinc – 0.05% among others were trading higher. 

Power stocks doing well: Power shares, like NTPC – 2.78% up, Tata Power – 1.64% up, Adani Transmission – 2% up and NHPC – 3.17% up among others, were trading higher. 

Earnings reaction 

Indus Towers: Down 1.27%. India's largest mobile tower installation company has declared Q4FY21 financial numbers and reported a 0.3% QoQ rise in consolidated profit at Rs 1,364 crore for the quarter ended March 31, 2021. 

Tata Elxsi: Bullish and trading 7.83% higher. The design and technology service provider across industries has declared its Q4FY21 financial numbers and reported a 13.1% QoQ rise in consolidated profit at Rs 46.5 crore for the quarter ended March 31, 2021 (Q4FY21). 

Visaka Industries: Up 1.66%. The cement roofing sheet manufacturer declared its Q4FY21 financial numbers and reported a 342.9% YoY rise in consolidated profit at Rs 31 crore for the quarter ended March 31, 2021.

PowerGrid: Up 4.23%. Files offer document for InvIT IPO. 

Jubilant Industries: Trading around 20% upper circuit. Anil Singhvi said that the Jubilant Group has been in focus lately. He said that the new management is focusing on growth. The Market Guru added that this stock should be valued at Rs 350 and currently, it is available at a steep discount. The company can do EPS of 20-22 this year.