JMC Projects, IndiGo to Metal Stocks - here are top Buzzing Stocks today

Domestic stocks markets were in a red zone on Tuesday’s noon deals and were trading with half a per cent cut. At 01:07 pm, the S&P BSE Sensex was trading 344.67 points or 0.70% lower at 49,157.74. The Nifty 50 index was trading with a fall of 90.20 points or 0.60% at 14,852.15. Meanwhile, certain stocks were in action in either direction based on reports linked to them. Here is a list of few such stocks:

Good Results Impact:

JMC Projects: Down 1.99%. The construction engineering company has reported a consolidated profit YoY of Rs 41.4 crore for the quarter ended March 31, 2021, as against a consolidated loss of Rs 54.8 crore posted in the same quarter of the previous financial year. 

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Chambal Fertilizer: Buzzing and trading 8.70% higher. The fertilizer producer has reported a 169.4% YoY rise in the consolidated profit at Rs 541.8 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 201.1 crore in the same quarter of the last financial year. 

Intellect Design: Bearish and trading 5.71% lower. The software company has reported a 0.3% QoQ rise in consolidated profit at Rs 80.6 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 80.4 crore in the previous quarter ended December 31, 2020. 

HFCL: Bullish and hits 10% upper circuit and trading 10.29% higher. The company has reported 14.6 times YoY jump in the consolidated profit at Rs 84.7 crore for the quarter ended March 31, 2021. It had reported a profit of Rs 5.8 crore in the same quarter of the last financial year. 

Stock in News

D-Link India: Buzzing and trading 5.26% higher. The government has said it has made import registration compulsory for a host of electronic integrated circuits under the chip imports monitoring system (CHIMS), a move that could discourage inbound shipments of such goods and promote their local manufacturing.

Interglobe Aviation: Up 0.13%. The board of directors of InterGlobe Aviation Limited (IndiGo) on Monday, May 10, 2021, approved the raising of funds for an aggregate amount not exceeding Rs 3,000 crore through a Qualified Institutions Placement (QIP) process.

UPL: Up 0.56%. The global provider of sustainable agriculture solutions, today announced that its subsidiary has entered into a license agreement with a Japanese company, Meiji Seika Pharma Co., Ltd. for exclusive access to Flupyrimin for rice in Southeast Asia. Under the license agreement, UPL will obtain exclusive rights to develop, register and commercialize formulations of Flupyrimin for foliar applications in rice in Southeast Asia, expanding the ongoing collaboration between the two companies with this compound. Flupyrimin: Chemotype nicotinic insecticide

Yes Bank: Up 0.76%. Bay Tree India has reduced stakes by 2.06% between January 6, 2021, and May 6, 2021. 

Punjab National Bank: Down 1.97%. The public sector lender has launched a qualified institutional placement (QIP) offer to raise equity capital to enhance the capital base. For the Qualified Institutional Placement (QIP) purposes, the bank has fixed the floor price at Rs 35.51 per equity share 

Embassy Office Parks REIT: Down 0.31%. Blackstone Real Estate has acquired Embassy Industrial Parks in transactions worth Rs 5,250 crore. With this acquisition, Blackstone turns into India’s largest warehouse. Embassy Industrial Parks comprises 10.6 million square feet of modern Grade A logistics and warehousing assets near urban centres.

Indiabulls Housing: Down 1.37%. IB Housing sells its mutual fund business to Groww Group for Rs 175 crore. 

Metal Stocks: Nifty Metal index was trading 0.09% lower. Metal stocks, like SAIL – down 2.19%, NMDC- down 1.33%, JSW Steel – down 1.04% VEDL – down 0.36%, NALCO – down -.18%, among others, were trading at a loss. China has taken steps to bring into control the prices of Iron Ore Futures and Steel Futures. Dalian Commodity Exchange has raised trading limits and margins requirement for some iron ore contracts and reinstated fees on steel futures. 

Banking Stocks: Declines and Nifty Bank index was trading 0.55% down, while Nifty Private Banks index were trading 0.61% down. Private banks like ICICI Bank – down 0.56%, HDFC Bank – down 0.65%, RBL Bank - down 0.83%, Bandhan Bank – down 0.83%, Axis Bank – down 1.01% and Kotak Mahindra Bank – down 2.17% among others, were trading lower. 

BLOCK DEAL

PNB: Down 2.25%. Several block deals for 51 lakh shares made in the range of Rs 69.80-70.55 per share. 

BHEL: Bullish and trading 6.09% higher. Several block deals for 36 lakh shares made in the range of Rs 65-69.15 per share. 

TRIDENT: Bullish and trading 9.85% higher. Block deals for 21 lakh shares made at Rs 18.30-18.35 per share.