Among sectors, PSU Bank index rallied nearly 6 percent, while some buying also seen in the energy, infra and auto names. However, selling seen in the FMCG, IT, pharma stocks.
Benchmark indices ended on a negative note for the second consecutive session on February 17 ignoring rally seen in the PSU banking stocks. At close, the Sensex was down 400.34 points or 0.77% at 51,703.83, and the Nifty was down 104.60 points or 0.68% at 15,208.90. Here are 10 stocks that moved the most today:
Power Grid | CMP: Rs 230.35 | The share price was up 2 percent after the company was declared as the successful bidder under TBCB to establish two projects on build, own operate and maintain (BOOM) basis. These 2 projects to be carried out in Rajasthan, Uttar Pradesh & Haryana.
GMM Pfaudler | CMP: Rs 3,833 | The stock added over 2 percent after the company successfully completed the transaction to acquire a majority stake of its parent, the Pfaudler Group from the private equity firm Deutsche Beteiligungs AG Fund VI, after receiving all necessary regulatory approvals.
Nestle India | CMP: Rs 16,700 | The stock was down 3 percent on February 17. The company reported a 2.3 percent YoY growth in profit for the quarter ended December 2020, missing analysts’ expectations. Revenue from operations in Q4 CY20 grew by 9 percent YoY to Rs 3,432.6 crore, driven by domestic sales that increased 10.1 percent to Rs 3,260.7 crore, but exports declined 7.7 percent to Rs 156.82 crore in Q4. Credit Suisse has downgraded the stock to neutral.
Adani Ports | CMP: Rs 654 | The scrip added 2 percent after company completed the acquisition of Dighi Port Limited (DPL) for Rs 705 crore. DPL, the 12th port to join APSEZ’s string of economic gateways across the eastern and western coast of India would establish the company’s footprint in Maharashtra, the largest contributor to India’s GDP, company said in a release.
Inox Wind | CMP: Rs 69 | The stock ended in the green on February 17. The company bagged orders for 62 MW generators in Gujarat and Karnataka. It announced new orders for the supply and installation of wind turbine generators of 62 MW from IPPs and retail customers spread across various industries for third party sales and captive consumption.
Rajesh Exports | CMP: Rs 484.40 | The stock added a percent after the company bagged a first major order post COVID worth Rs 1,352 crore of designer range of gold jewellery from Germany.
Varun Beverages | CMP: Rs 945 | The share price jumped 5 percent after the company reduced losses significantly to Rs 7.24 crore during October to December. The company, which follows January -December year, had posted a net loss of Rs 53.95 crore in Q4 2019.
SP Apparels | CMP: Rs 202 | The scrip jumped over 14 percent after the company bagged a new order worth Rs 25 crore. The company’s order book now stands at Rs 240 crore. On a consolidated basis, the company’s net profit surged to Rs 19.65 crore in Q3 FY21 from Rs 1.93 crore in Q3 FY20. Net sales during the quarter increased by 18.5 percent YoY to Rs 209.54 crore.
Bajaj Electricals | CMP: Rs 1,018.90 | The stock shed 3 percent on February 17. ICRA upgraded the credit ratings of Bajaj Electricals. It has upgraded the long-term rating from ICRA A- to ICRA A on Line of Credit (LOC) of the company and Rs 200 crore NCDs programme. The credit rating agency has also revised short-term LOC from ICRA A2+ to ICRA A1.
L&T Finance Holdings | CMP: Rs 97.80 | The scrip ended in the red on February 17. The company has raised Rs 2,999 crore through the rights issue which was closed on Tuesday. The issue was oversubscribed by 15 percent. The allotment of equity shares offered pursuant to the rights issue will happen on February 23, 2021 and will be listed on the BSE and on NSE on February 26, 2021, the company said in a release.
Sandip Das
