Wipro, Auto Stocks, Insurance Stocks to Quess Corp - here are top Buzzing Stocks today

Indian benchmarks were trading in the green zone with marginal gains in the early afternoon deals on Friday. At 12:51 pm, the S&P BSE Sensex climbed 169.09 points or 0.35% to trade at 48,972.77, while at NSE, the Nifty 50 index was trading 90.70 points or 0.62% higher at 14,672.15. 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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WIPRO: Bullish and up 9%. IT services company Wipro has reported its financial results of the fourth quarter of FY21 and reported a 0.1 per cent QoQ rise in its consolidated profit and 3.7% rise in revenue from operations. Providing its outlook for the quarter ended June 30, 2021, i.e. Q1FY21, the company said, we expect revenue from our IT Services business to be in the range of 2-4%. This does not include revenue from our recently announced acquisitions of Capco and Ampion. 

Auto Stocks: Auto stocks were doing well with the Nifty Auto index trading with a gain of 1.61%. Auto stocks, like Tata Motors – up 2.27%, M&M – up 2.97%, Ashok Leyland – up 1.38%, Bajaj Auto – up 0.85% and Force Motors – up 0.53% among others were trading high. 

Dr Reddy’s: Up 1.09. Cogencis reported that the stock of Remdesivir has finished and the company will increase its production. 

New India Assurance/ICICI Lombard: New India Assurance – up 3.34% & ICICI Lombard – up 1.31%. Zee Business exclusively reported that insurance companies will increase premium and for this purpose, they have sought approval from IRDAI. They have written a letter to the regulator this week seeking permission to increase the premium by 10% in the name of COVID-19 cess. 

Quess Corp: Up 1.65%. It has announced the acquisition of a 30% stake in Conneqt Business Solutions Ltd. (Conneqt) from Tata Sons Pvt. Ltd. (Tata) for Rs 208 crore. It already holds 70% stakes in Conneqt and with this deal, Conneqt will become a wholly owned subsidiary of Quess.

Hinduja Global Solutions Ltd: Up 2.11%. Zee Business exclusively reported that PE companies are interested in investing in the healthcare business of the company. PE firms like Baring, Apax and Blackstone have plans to invest up to Rs 1,500 crore in the healthcare business.  

NFL: Up 1.55%. DIPAM has issued a request for proposal (RFP) for a legal advisor, merchant banker and selling brokers. Government has plans to sell 20% stakes in the company.

Phillip Carbon Black: Up 2.10%. Seasoned investor Ashish Kacholia has bought 1.45% stakes in Philips Carbon Black in the March quarter.

Tata Power: Up 2.34%. The government’s e-Governance arm, Common Service Centre (CSC), has announced a collaboration with Tata Power to set up solar-powered microgrids and water pumps in rural areas across the country.

IOC: Up 0.67%. IOC has reduced ATF prices in Delhi by Rs 568.88 per kiloliter. 

L&T: Up 0.52%. L&T Construction has been awarded contracts worth Rs 1,000 to 2,500 crore for its various businesses.