The BSE Sensex and NSE Nifty on Tuesday closed in negative terrain following profit-booking. Investors also remained cautious ahead of UK’s June 23 referendum, as hopes grew that Britons will vote to remain in the European Union. Sensex dropped 54.14 points to end at 26,812.78, while Nifty slumped 18.60 points to 8,219.90.
Below are the 5 stocks that hogged limelight today
Mandhana Industries: Shares of the company locked in lower circuit of 20 per cent at Rs 178.05 on Tuesday after the company while insuring investors said it is in the process of demerging its current retail business.
Siti Cable Network: Shares of the company closed 2.984 per cent up at Rs 38.05 on reports that Bioscope Cinemas has proposed to acquire up to 2,91,57,417 shares of the company on June 27 or any day thereafter within a period of 90 days by way of on-market inter-se transfer of shares amongst the promoter group. The government’s move to allow 100 per cent FDI under automatic route in several wings of the broadcasting carriage services which include teleports, direct-to-home, cable networks, mobile TV and headend-in-the sky broadcasting service also helped the market sentiments.
Supreme Infrastructure: Stocks of the company ended 1.19 per cent up at Rs 118.95. as it has won two land development projects for Navi Mumbai International Airport for Rs 398 crore.
Textile stocks: Stocks of textile companies remained in limelight after TV reports said that the Cabinet will clear textile policy on Wednesday. Cheering the news, shares of Arvind Ltd and Stovec Industries closed 4.89 per cent and 3.09 per cent, respectively. Other textile majors such as Century Textiles, Gokaldas Exports and Aarvee Denim & Exports ended up 4.72 per cent, 5.75 per cent and 16.13 per cent, respectively. According to the reports, Cabinet focus is on incentivising garment manufacturing and to encourage value add. The objective of the policy is to create jobs.
Monsoon-related stocks: Rural-focussed stocks related to agro chemicals, tractors, two- wheelers once again hogged limelight after the India Meteorological Department (IMD) said that monsoon rains have covered nearly half of the country.
Cheering the news, two-wheeler majors Bajaj Auto, Hero MotoCorp and TVS Motor Co gained as much as 1.4 per cent, 1 per cent and 1.5 per cent intraday, respectively. Tractor companies such as Mahindra & Mahindra Ltd and VST Tillers and Tractors gained 1.5 per cent and 0.80 per cent intraday, respectively.