PSU Stocks, RIL, Eicher Motor to Metropolis Health - here are top Buzzing Stocks today

The domestic benchmarks were trading with gains of more than a half per cent in Friday’s noon deals. At 13:05 pm, S&P BSE Sensex was trading 286.06 points or 0.56% higher at 51,401.28. The Nifty 50 index was trading 95.20 points or 0.62% higher near the fresh lifetime high at 15,433.05. Meanwhile, certain stocks were in action in either direction based on reports linked to them. Here is a list of few such stocks:

See Zee Business Live TV Streaming Below:

PSU stocks: PSU stocks like MTNL – up 7.09%/Scooters India – up 4.94% /HMT – up 4.85% are trading higher. DIPAM has taken a big decision regarding the PSU Landbank under which government will unlock the value of the sick PSUs, sources aware of the development informed Zee Business. According to the sources, the Land Bank Policy is likely to get approval from the Union Cabinet soon. Actually, DIPAM has prepared a complete structure of the land bank and the government will create an SPV under which the land of PSUs will be transferred. Under the policy, the Government will make an upfront payment equal to 33% of the land value to the PSUs, which will help them in reducing their debt. SPV will also get an exemption from stamp duty on land transfer. 

RIL: On the move. The shares were trading at days high and trading 5.89% higher above 2,000 at 2.092.50. 

Metal Stocks: Moving. The nifty Metal index was trading 1.30% higher. Metal stocks like MOIL – up 3.41%, Tata Steel – up 1.92%, Hindalco – up 1.36%, Vedanta – up 1.33%, NMDC – up 1.32 among others were trading with gains. 

Earning Reactions

Eicher Motors: Up 2.11%. The Indian manufacturer of motorcycles and commercial vehicles on Thursday, May 27, 2021, reported a consolidated 73% YoY rise in profit at Rs 526 crore for the quarter ended March 31, 2021. The company has posted a profit of Rs 304 crore in the corresponding quarter of the last financial year.

Sun Pharma: Falls 3.77% The pharmaceutical company has reported 2.2 times YoY rise in the profit at Rs 894 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 400 crore in the corresponding quarter of the last financial year.

Metropolis Health: Hits 10% upper circuit and trading 12.85% higher. The operator of a chain of diagnostic companies has reported a 296.8% YoY rise in the consolidated profit of Rs 61.5 crore for the quarter ended March 31, 2021. It had reported a profit of Rs 15.5 crore in the corresponding quarter last year.

HEG: Down 6.13%. The carbon and graphite product manufacturing company has reported a consolidated loss YoY of Rs 16 crore for the quarter ended March 31, 2021, as compared to a loss of Rs 377 crore posted in the corresponding quarter last year.

Goodyear: Up 3.51%.The tire manufacturing company has reported a 230.8% YoY rise in profit at Rs 43 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 13 crore in the corresponding quarter last year.

Dixon Technologies: Up 1.12%. The company has reported a 57% YoY rise in the consolidated profit at Rs 44 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 28 crore in the corresponding quarter last year.

NOCIL: Down 2.13%. The chemical manufacturing company has reported a 70.3% YoY rise in the consolidated profit at Rs 37.3 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 21.9 crore in the corresponding quarter last year.

Jindal Saw: Up 1.59%. The manufacturer of SAW Pipes and spiral pipes has reported a 457.6% YoY rise in the consolidated profit at Rs 184 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 33 crore in the same quarter last year.

GSFC: Down 2.60%. The chemical industry company has reported a 141.9% rise in the consolidated profit at Rs 150 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 62 crore in the corresponding quarter last year.

Waterbase: Down 236%. The manufacturer of high-quality shrimp feed in India has reported a YoY loss of Rs 2.6 crore for the quarter ended March 31, 2021. It had posted a loss of Rs 2.5 crore in the corresponding quarter last year. 

Stocks in News 

Hester Biosciences: Buzzing and trading 6.77% higher. Hester Biosciences has said a memorandum of understanding (MoU) has been signed between vaccine maker Bharat Biotech and Gujarat Covid Vaccine Consortium (GCVC) for contract manufacturing the drug substance for COVAXIN. Hester shall provide the complete infrastructure at its Gujarat plant for the manufacturing of the Drug Substance. Bharat Biotech shall provide the technology for the production of the Drug Substance for COVAXIN. Hester has estimated an outlay of Rs 40 crore for this project.

JSW Steel: Up 1.77%. Karnataka government has put a hold on the decision to sell 3,667 acres of land to JSW Steel in the Ballari district. The decision was taken at the case is pending in the court. The decision to sell the land parcel to JSW Steel was taken at the Cabinet meeting held on April 26.

Bajaj Healthcare: Buzzing and trading 7.22% higher. Announced launch of Posaconazole API, the commodity used for treating black fungus infections in COVID-19 patients. 

ICICI Lombard: Sharp Spike and trading 3.15% up. 

Oil and Gas Stocks: Moving Strong ONGC – 0.58%; Chennai Petro – up 0.19% ;BPCL – up 0.89%. 

Hindustan Copper: Up 1.98%. 

Tata Metaliks: Up 0.82%.