The Indian equity markets fell sharply today and were trading more than one per cent down in early afternoon hours on Wednesday, January 27, 2021, as trading resumed after a day's break. At 12:25 pm, the S&P BSE Sensex fell 540.93 points, or 1.12 per cent, to 47,806.66 levels. The Nifty 50 index also slipped 143.60 points, or 1.01%, to trade down at 14,095.30. Axis bank (down 3.11 per cent) was the top Nifty loser today and was followed by Tata Motors (down 2.94 per cent), Asian Paints (down 2.58 per cent), HDFC (down 2.47 per cent) and Sun Pharma (down 2.39 per cent). On the other hand, Wipro (up 3.26 per cent), Tech Mahindra(up 2.76 per cent) and ITC (up 2 per cent) were the major gainers on Nifty. 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:

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Earnings: India Cements + Jyothy Labs + PSP Projects

India Cements (down 0.27%): Shares of India Cements were trading in red after it posted its December quarter numbers today and reported a Rs 62 crore profit year-on-year against a loss of Rs 5.3 crore posted last year.

Jyothy Labs (down 2.52%): Shares of Jyothy Labs were trading down after it reported a net profit of Rs 53 crore for the quarter ended December 31, 2020, against Rs 45 crore posted last year in the same quarter.

PSP Projects (down 1.67%): Shares of PSP Projects were trading in red after it reported a net profit of Rs 29 crores for the period ended December 31, 2020, as against a net profit of Rs 367 crores for the period ended December 31, 2019.

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Order Wins: Tata Elxsi + Gayatri Projects + RITES

Tata Elxsi (up 5.52%): Shares of Tata Elxsi were trading higher after it announced a collaboration with Syntiant Corp. to help manufacturers design and develop low-power always-on voice applications across multiple product categories, such as smart home devices and consumer electronics, as well as industrial and automotive use cases.

Gayatri Projects (up 2.56%): The shares of Gayatri Projects were trading higher today after it reported that it has received four Letter of Awards (LOAs) for Pipe Drinking Water Schemes from Namami Gange and Rural Water Supply Department in the State of Uttar Pradesh, in a joint venture where the Company's share is 97.5%, for a total value of INR 1,748.00 Crores. All the above LOAs pertain to water division.

RITES (down 0.35%): Shares of RITES Ltd were trading down. The company has announced that it has secured a road sector Project Management Consultancy work order from Kerala Infrastructure Investment Fund Board) (KIIFB), Govt. of Kerala with a fee income of Rs 61.25 Crores.

Block Deals: ITC + Tata Motors + Federal Bank + SAIL

ITC (up 2%): Block deal of 10 lakh shares happened at Rs 209.45 per shares.

Tata Motors (down 2.94%): Block deal of 41.3 lakh shares happened at Rs 266.05-270.05 per share.

Federal Bank ( down 0.63%): The lender did a block deal of 10 lakh shares at Rs 70.75 per share.

SAIL (up 1.80%): Block deal of 19 lakh shares happened at Rs 58.15-59.70 per share.

Railway Exclusive: L&T (down 0.59%) /IRCON International (down 0.65%) /HCC (up 1.27%) /J Kumar Infra (up 0.73%) /ITD Cementation (up 1.64%). These companies among others are in the race of Mega Bullet Train project, sources aware of the development informed Zee Business. Project is connected to an underground station in BKC. NHSRCL has released the tender. Seven companies participated in the pre-bid meeting and February 19, 2021, is the last date for bidding.

IPO Update 

Stove Kraft Ltd: The Rs 413 crore IPO of Stove Kraft Ltd, a manufacturer of kitchen appliances, was subscribed 1.71 times till 1:00 pm today. The public issue will close on January 28, 2021. The company has fixed a price band of Rs 384 to Rs 385 per equity share.