Biocon, Metal and Pharma Stocks to Morepen Laboratories - here are the top Buzzing Stocks today

Following the US Fed decision to keep policy loose and firm global cues, the domestic benchmarks extended their gains in Thursday’s noon deals. At 12:55 pm, S&P BSE Sensex was trading with a gain of 220.19 points or 0.44% at 49,954.03. The Nifty 50 index was trading 72.15 points or 0.49% higher at 14,936.70. Meanwhile, certain stocks were in action in either direction based on reports linked to them. Here is a list of few such stocks:

PowerGrid InvIT IPO Update: The pubic issue that opened today has not received any bids till 12:30 pm. PowerGrid InvIT is looking to raise Rs 7,735 crore through the issue of which Rs 4994 crore will be the fresh issue and Rs 2,741 crore will be an offer for sale (OFS) of existing units. Units of PowerGrid InvIT will be sold in a price band of Rs 99-100 per unit, in a bid lot of 1,100 units per lot. This would translate to a minimum investment of Rs 1.1 lakh per investor. 

Result Impact

Biocon: Up 2.24 per cent. Reported an 86.3 per cent YoY rise in consolidated profit at Rs 296.7 crore for the quarter ended March 31, 2021, as compared to a profit of Rs 167.5 crore posted in the same quarter last year. 
Carborundum Universal: Bullish and trading 5.72 per cent up. It has reported a 2.5 per cent YoY rise in consolidated profit at Rs 96.2 crore for the quarter ended March 31, 2021. It had posted a net profit of Rs 93.9 crore in the same quarter last financial year. 
KSB Ltd: Up 3.59 per cent. It has reported 3 times YoY rise in the consolidated profit at Rs 43.9 crore for the quarter ended March 31, 2021. It had posted a net profit of Rs 10.9 crore in the same quarter last year. 
Tata Communications: Down 2.90 per cent. It has reported a 3.3 per cent quarter-on-quarter decline in the consolidated profit at Rs 299.2 crore for the quarter ended March 31, 2021. It had posted a net profit of Rs 309.4 crore in the quarter ended December 31, 2021. 
KPIT Technologies: Up 1.49 per cent. It has reported a 9.5 per cent QoQ rise in the consolidated profit at Rs 47.1 crore for the quarter ended March 31, 2021. It had posted a net profit of Rs 43 crore in the previous quarter. 

Stocks in News

Axis Bank: Up 0.86 per cent. Axis Bank board approves re-appointment of Amitabh Chaudhry as the Managing Director and CEO of the bank, for a period of 3 years, with effect from January 1, 2022, up to December 31, 2024. 
Future Retail: Down 2.69 per cent. Global rating agency Standard & Poor's has downgraded Future Retail Ltd's long term rating issuer credit rating from "CCC-" to "SD", amounting to default. The rating action follows a restructuring of onshore debt.
GRM Overseas: Buzzing and trading 5 per cent up. The Board of Directors of the Company is scheduled to meet on May 12, 2021, to consider and approve the financial statements for the Quarter and year ended on March 31, 2021. It will also consider and approve the issue of bonus shares. 
Bharti Airtel: Down 0.42 per cent. The subsidiary, Airtel Africa plc with a presence in 14 countries across Africa, announced Olusegun “Segun” Ogunsanya, Managing Director and CEO Nigeria is to succeed Raghunath “Raghu” Mandava, as Managing Director and Chief Executive Officer. Segun Ogunsanya will join the Board of Airtel Africa plc with effect from October 1, 2021. 
Morepen Laboratories: Bullish and up 5.42 per cent. The company’s board approved raising Rs 433 crore via issuance of shares on a preferential basis.
IndiaMart Intermesh: Up 0.58 per cent. It has acquired a stake in two companies, Shipway Technology and Truckhall, for about Rs 20 crore to strengthen its technology offering in logistics management. 
Affle India: Up 0.79 per cent. The board has approved the opening of QIP of the equity shares from April 28, 2021. The floor price for the issue is Rs 5,422.94 per equity share.

Movement in Indices 

Metals running again: Nifty Metal Index was trading 3.35 per cent up. SAIL 10 years high and was trading 5.17 per cent higher.  Individually, metals stocks, like Tata Steel (up 4.80 per cent), JSW Steel (up 6.98 per cent) and Hindalco (2.01 per cent) among others, were trading bullishly.
Pharma bouncing back: Nifty pharma stocks were trading 0.73 per cent higher. Pharma stocks, like Dr Reddy – up 1.26 per cent, DIVI’s Lab – up 1.08 per cent, Sun Pharma – up 0.75 per cent, Cipla – up 0.34 per cent, Lupin – up 0.54 per cent – among others were trading higher. 
Banks up and down ahead of expiry: Banking shares were trading with a fall today, as Nifty Bank index was trading at a loss of 0.17 per cent, while Nifty PSU bank index was trading 1.14% low and Nifty Private Bank index was trading 0.02 low. Individually, banking stocks, like SBI – down 1.40 per cent, RBL Bank – down 1.52 per cent, PNB – down 1.40 per cent, ICICI Bank – down 0.88 per cent, IDFC First Bank – down 0.27 per cent and Kotak Mahindra Bank –down 0.19 per cent among others, were trading at a loss. 
Auto Stocks: Auto Sector was down with the Nifty Auto index trading with a fall of 0.45 per cent. Individually, auto stocks, like Tata Motors - down 0.33 per cent, Ashok Leyland – down 1.11 per cent, M&M – down 1.16 per cent, Eicher Motors – down 1.33 per cent, TVS Motors – down -1.82 per cent and Hero MotoCorp – down 1.51 per cent among others, were trading a fall of around 1 per cent.