The BSE Sensex and NSE Nifty swung between gains and losses on Wednesday and ended the trade on a flat note. Sensex closed 17.04 points up at 24,900.63, while Nifty 50 index settled 11.15 points up at 7,614.35.
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Below are the stocks that remained in focus today
Ashoka Buildcon: Shares of the company hit lower circuit and slumped 20 per cent to Rs 136. According to PTI, Enforcement Directorate and Income Tax department on Tuesday conducted joint searches at the office of Ashoka Buildcon and the residence of its head in connection with allegations that it financed certain construction by family of ex-deputy chief minister Chhagan Bhujbal, arrested last month in a money laundering case.
Talwalkars Better Value Fitness Ltd: Shares of Talwalkars Better Value Fitness ended 7.38 per cent up at Rs 213.90 on Wednesday after it informed BSE regarding the launch of 33 Zorba – renaissance studios in 25 cities in the span of 60 days.
INOX Leisure: Stocks of the company settled the day 2.01 per cent up at Rs 200.55 over market reports with respect to its agreement with IMAX to buy the latter’s five theatre systems. The systems are expected to be installed in Inox’s Bengaluru, Delhi, Kolkata and Mumbai theatres.
Fertilizers stocks: Stocks of fertliser companies remained on buyers’ radar, as the government has notified the subsidy rates for phosphatic and potassic (P&K) fertilisers for the current fiscal, which are lower than the last year. The subsidy on nitrogen (N) is fixed at Rs 15.85 per kg, Rs 13.24 per kg for phosphorous (P), Rs 15.47 per kg potash (K) and Rs 2.04 per kg for sulphur (S).
Cement companies: Shares of cement manufacturers remained in focus on expectation of strong show in the current quarter and volume recovery led by higher government spends on infra and revival in housing demand.
Future Retail: Stocks of the company ended 0.98 per cent up at Rs 128.70 after it agreed to acquire the entire equity shares of FabFurnish.com owned and operated by Bluerock eServices (BEPL) as per the terms and conditions agreed under the share purchase agreement. Consequent to acquisition of the entire share capital, BEPL will become subsidiary of the company.
RPG Life Sciences: Shares of the company closed 13.92 per cent up at Rs 266 after the company announced that it has received good manufacturing practice (GMP) certificate from German authority for its formulation facility in Gujarat.
Kiri Industries: Shares of the company hit upper circuit of Rs 167.30 after the company informed bourses that it has executed agreements for settlement of all its debt by the end of financial year 2016. The share price of the company surged over 101 per cent in the past six trading sessions.
Tata Motors: Stocks of the company closed 1.81 per cent up at Rs 377.20 after the company launched much-awaited hatchback Tata Tiago. Prices for the vehicle start at Rs 3.20 lakh and goes till Rs 5.54 lakh (ex-showroom, Delhi).
Aviation stocks: Stocks of aviation companies such as InterGlobe Aviation (IndiGo), SpiceJet and Jet Airways remained in focus on Wednesday on reports that the civil aviation ministry is likely to abolish the 5/20 rule. IndiGo, SpiceJet and Jet Airways shares advanced 2.02 per cent, 5.65 per cent and 2.98 per cent to Rs 992.20, Rs 628.15 and Rs 70.75 respectively.