These were the stock making the buzz in today’s trading session:
1. NYKAA-
2. INOX GREEN-
The stock made its debut on D-street today, but it was a rather dull one, as the stock listed at a discount of 8% to its listing price. The shares listed at Rs 60 per share as compared to its listing price of Rs 65 per share. The company’s IPO was subscribed 1.55 times, with qualified institutional buyers, non-institutional investors, and retail individual investors subscribing 1.05x, 0.47x, and 4.7x, respectively.
3. KAYNES TECHNOLOGY-
This stock was up 2.3% today, after making its debut on the bourses yesterday. The stock had a bunch of investors who bought 221 crore shares in bunch deals, which pushed the stock up in trade today.
4. TIME TECHNOPLAST-
The stock saw a steady gain in trade today, up about 2.5% on the back of a management statement. The company’s management said that the progress on consolidation cum restructuring of overseas business is progressing well. The company is at the final stages of discussions with a prospective buyer, and the deal is expected to close this year itself. The proceeds will be used for debt repayment and as capex for composite cylinders.
5. NBCC-
The stock saw a massive rally in trade today, up about 11% at the day’s highest point. There were multiple block deals on NSE traded for this stock. While the details of the buyers and the sellers are awaited, the stock enjoyed a solid gain in trade today.
6. ADANI ENTERPRISES-
This stock was down about 3% in today’s trading session. The board is believed to meet on November 25 to discuss fund raising. The FPO is expected to be to the tune of $1.8-$2.4 billion, which is Rs 14,000-Rs 19,000 crore. the fund raise could happen as soon as next year.
7. CEMENTS-
Cement names such as ACC, Ultratech, and especially Dalmia Bharat Cement saw an uptick in the green in trade today. This came in after CLSA said in a note that it prefers these names in the cements pack. The note further stated that management commentary on demand was mostly upbeat, and the full impact of lower cost and high cement prices should reflect in Q4. More importantly, the note mentioned that the medium-term demand outlook is positive; and one can expect 6-8% CAGR.
8. CUMMINS-
The stock was up about 2% in trade today. This came in after brokerage house Kotak Securities hiked its target for the stock to Rs 1,560 vs the current market price of Rs 1,351 per share. This aided the stock in trade today, pushing it in the green.
9. DCW-
The stock was up about 2.5% today, hitting its 1-month high on capacity expansion plans. The chemical company said it plans to double its CPVC capacity. It also plans to increase capacity utilization of its synthetic iron oxide pigment (SIOP) plant to 100%, and is investing around 1.25 billion rupees for the same.
10. KIRLOSKAR PNEUMATICS-
Antique stock broking maintained a buy rating on the stock with a target price of Rs 685 per share. Although there has been a slowdown in installation of new CNG gas stations, the management is optimistic of meeting its guidance because of an increase in traction in export orders. The stock was up six-tenths of a percent today, losing its morning gains.
Read More: Stocks buzzing in trade today