Ion Exchange, BLS International to Power Stocks - here are top Buzzing Stocks today

Domestic stocks markets were trading marginally higher in the early afternoon trade on Wednesday. At 1:07 pm, the S&P BSE Sensex was trading 74.57 points or 0.14% higher at 52,350.114 levels, while the Nifty 50 index was trading with a gain of 18.25 points or 0.12% at 15,758.35. 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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Earnings Reaction 

Ion Exchange: Hits 20% upper circuit. (NAKK stock). The water supply company has reported a 141% YoY rise in the consolidated profit at Rs 70 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 29 crore in the corresponding quarter of the last financial year. The board has announced a final dividend of Rs 10 per equity share for FY21. 

Galaxy Surfactants: Up 1.52%. (NAKK stock). The chemical manufacturing company has reported a 25% YoY rise in the consolidated profit at Rs 79 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 63 crore in the corresponding quarter of the last financial year. The board has recommended a final dividend of Rs 4 per equity share. 

Engineers India Limited: Down 3.41%. (NAKK stock). The company has reported a 79% YoY decline in the consolidated profit at Rs 25 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 120 crore in the corresponding quarter ended March 31, 2020. The board has announced a final dividend of Re 0.60 per equity share.

Petronet LNG: Down 2.50%. The state-owned company has reported a 29% QoQ decline in the standalone profit at Rs 623.4 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 878.5 crore in the previous quarter ended December 31, 2021. Board recommended a dividend of Rs 3.5 per share for FY21. 

Max Financial Services: Up 0.30%. The life insurance company has reported 10.4 times YoY jump in the consolidated profit at Rs 70 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 6.7 crore in the corresponding quarter of the previous financial year. 

Stocks in News

Religare Enterprises: Up 5.32%. Board of Directors of the Company has approved raising of funds through preferential issue of shares by issuing up to 5.41 crore equity shares of the Company at an issue price of Rs 105.25 per share aggregating up to Rs 570 crore on a preferential basis. The company would use the raised funds in reducing the debt and invest in four key subsidiaries. 

BLS International: Up 4.60%. The company has resumed operations for India, Spain, Brazil, Lebanon, Cyprus, Portugal and Belarus Missions in 32 countries.

Sterlite Technologies: Up 2.29%. Vocus Australia selects STL's Opticonn solutions to expand the fibre network. 

Varroc Engineering: Down 0.31%. 'Varroc Engineering Limited signs an MoU with Candera GmbH to integrate HMI (Human Machine Interface) technology in their TFT Instrument Clusters for Automotive applications.'

Buzzing Stocks 

Power Stocks: On a move. Adani Power – up 9.98%, Torrent Power – up 4.13%, Tata Power – up 0.35%, NTPC – up 3.49% and PowerGrid – up 3.67% among others were trading higher. Tata Power is at a 12 year high. 

Logistics Stocks: On a move. Stocks like GATI – up 15.53%, Allcargo Logistics – up 6.01%, Snowman Logistics – up 4.48%, Aegis Logistics – up 4.40%, Mahindra Logistics – up 3.11%, among others were trading higher. 

Coastal Corporation: Up 6.50%. 

Firstsource Solutions: Up 6.87%. 

Polyplex Corp: Up 9.94% and trading near 10% upper circuits.  

CESC: Up 3.94%. 

Cochin Shipyard: Up 1.33% 

Recent IPO gainers

Easy Trip: Buzzing and trading 8.95% higher. 

Kalyan Jewellers: Buzzing and trading 7.11% higher 

Nazara Technologies: Up 3.16%