Newsmakers: Escorts, Sapphire Foods, Paytm and Vedanta among top 10 stocks that moved the most on November 18
The Indian markets closed in the red weighed down by auto and metal stocks, which continued to pull down the benchmark indices amid profit booking and weaker global cues on Thursday. In the holiday-shortened week, the Nifty and the Sensex both extended their losses as the former closed 0.86% or 153.30 points lower to 17,745.35 and the latter was down over 350 points to settle at 59,636.01 on the last trading day of the week. Here is a list of 10 buzzing stocks to watch out for:
Escorts: Up 10.24%
The shares of the company closed in the green at Rs 1797 with a gain of 10.24 per cent as per the BSE. As per the NSE, the shares of the company closed in the green at Rs 1796 with a gain of 10.12 per cent. Escorts touched a 52-week high of Rs 1,793.90, on November 18 after the company board approved further stake acquisition by Kubota Corporation. Escorts board approved to increase in shareholding in the company by Kubota Corporation. The company board in its meeting held on November 18 approved the raising of equity capital aggregating to Rs 1872 crore through preferential issue of 93,63,726 equity shares of face value Rs 10 at Rs 2,000 per share (including a premium of Rs 1,990 for each equity share), to Kubota Corporation, Japan. This news related to the board meeting was exclusively reported by Zee Business in the recent past. Source: escortsgroup.com
Shipping Corporation Of India (SCI): Up 8.94%
The shares of the company closed in the green at Rs 140.75 with a gain of 8.94 per cent as per the BSE. As per the NSE, the shares of the company closed in green at Rs 140.75 with a gain of 8.65 per cent. Shipping Corporation of India announced that the board of directors of Shipping Corporation of India Land and Assets in its meeting held on November 16, 2021, has considered and approved the Scheme of Arrangement for Demerger of 'Non-Core Assets' between Shipping Corporation of India (Demerged Company) and Shipping Corporation of India Land and Assets (Resulting Company). Source: shipindia.com
Golden Tobacco: Up 5%
The shares of the company closed in the green at Rs 130.25 with a gain of 5 per cent as per the BSE. As per the NSE, the shares of the company closed in green at Rs 130.25 with a gain of 5 per cent. Recently, the company reported net Sales at Rs 1.98 crore in September 2021 which is down by 81.94 per cent from Rs. 10.98 crore in September 2020. Source: goldentobacco.in
PNB: Up 2.58%
The shares of the bank closed in the green at Rs 41.70 with a gain of 2.58 per cent as per the BSE. As per the NSE, the shares of the company closed in green at Rs 41.60 with a gain of 2.34 per cent. Punjab National Bank (PNB) which was a part of the stock ban in the previous sessions, has been removed from the list for Thursday by the stock exchange, as per NSE. Source: PNB Twitter
Birlasoft: Down 1.47%
The shares of the company closed in the red at Rs 468.70 with a drop of 1.47 per cent as per the BSE. As per the NSE, the shares of the company closed in red at Rs 468 with a drop of 1.48 per cent. Birlasoft rallied by over 90 per cent so far in 2021 compared to 28 per cent upside seen in the Nifty50 while on a 1-year basis the stock rose more than 159 per cent. The stock was consolidating in a narrow range of 40-60 points since September. But the recent breakout from the consolidation range in November with high volumes make it an attractive buy even at current levels. Source: birlasoft.com
BHEL: Down 2.66%
The shares of the company closed in the red at Rs 62.30 with a drop of 2.66 per cent as per the BSE. As per the NSE, the shares of the company closed in red at Rs 62.10 with a drop of 3.04 per cent. Bharat Heavy Electricals Limited (BHEL) has signed a Cooperation Agreement with Zorya Mashproekt, Ukraine at New Delhi on November 16, 2021. The Cooperation Agreement aims to cooperate for establishing the local manufacture of the Marine GTs and RGs for the requirement of the Indian Navy. In addition to the above, the cooperation agreement also aims to cooperate for supporting the Indian Navy in the Maintenance & Repair of Marine GTs and RGs of Zorya Mashproekt make in their fleet. Source: BHEL Twitter
Tata Motors: Down 3.81%
The shares of the company closed in the red at Rs 509.95 with a drop of 3.81 per cent as per the NSE. As per the BSE, the shares of the company closed in red at Rs 509.90 with a drop of 3.85 per cent. Tata Motors is looking to establish vehicle scrappage centres under a franchise set up with the first one expected to become operational in the first quarter of the next fiscal. Source: Tata Motors Twitter
Sapphire Foods: Down 7.24%
The shares of the company closed in the red at Rs 1216.05 with a drop of 7.24 per cent as per the BSE. As per the NSE, the shares of the company closed in red at Rs 1227.70 with a drop of 9.06 per cent. The shares of Sapphire Foods India, a franchise operator of KFC and Pizza Hut restaurants, made a strong debut on the bourses, NSE & BSE, today. It opened at Rs 1,350 per share at the NSE at a premium of 14.4% to issue a price of Rs 1,180 per share. At the BSE, it opened at Rs 1,311 per share at a premium of 11.10% against the listing price. The initial public offering (IPO) of Sapphire Foods India Limited was subscribed 6.62 times on Thursday, the third and the last day for bidding. The Qualified Institutional Buyers (QIBs) portion was subscribed 7.50 times, while the Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) were subscribed 3.46 times and 8.70 times, respectively. Sapphire Foods had fixed the price band of the issue at Rs 1,120-1,180 per share as it had plans to raise up to Rs 2,073.25 crore through the issue.
Vedanta: Down 8.49%
The shares of the company closed in the red at Rs 309.50 with a drop of 8.49 per cent as per the NSE. As per the BSE, the shares of the company closed in red at Rs 309.60 with a drop of 8.51 per cent. Billionaire Anil Agarwal-led Vedanta Limited on Wednesday unveiled a plan for a complete overhaul of the business. The company is planning to demerge and list its aluminium, iron and steel, and oil and gas businesses as standalone entities. The company's board had also constituted a committee of directors to evaluate and recommend options to restructure the group. All options and alternatives like demerger, a spin-off(s), the strategic partnership will be considered for value unlocking and easing of corporate structure. Source: vedantalimited.com
Paytm: Down 19.99%
The shares of the company closed in the red at Rs 1564.15 with a drop of 19.99 per cent as per the BSE. As per the NSE, the shares of the company closed in red at Rs 1560 with a drop of 20 per cent. The shares of One 97 Communications Limited, the parent company of India's leading digital financial services company, Paytm, made a weak debut on the bourses, NSE & BSE, today. It opened at Rs 1,950 per share at NSE at a discount of 9.3% over the issue price of Rs 2,150 per share. At the BSE it opened at Rs 1955 per share, a discount of 9.06% against the listing price. The initial public offering (IPO) of Paytm was subscribed 1.89 times on Wednesday, the third and the final day of bidding. The Qualified Institutional Buyers (QIBs) portion of the public issue was subscribed 2.79 times, while the Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) portions were subscribed 0.24 times and 1.66 times, respectively. The company has fixed the price band at Rs 2,080-2,150 per share for the offer as it had plans to raise around Rs 18,300 crore from the issue. Source: Paytm Twitter