Dr Reddy's Labs shares ended 1.79 per cent up at Rs 3082.80 after its board approved the buyback of 44.84 lakh equity shares with face value of Rs 5 each for aggregate amount not exceeding Rs 1,569 crore.
The benchmark BSE Sensex and NSE Nifty ended in positive terrain on Tuesday on hopes of better-than-expected monsoon this year ahead of IIP and inflation data scheduled to be released later in the day amid firm Asian cues. Sensex jumped 123.43 points to close at 25,145.59, while Nifty recaptured 7,700-mark by rising 37.55 points to settle at 7,708.95.
Below are som stocks that hogged limelight in Tuesday’s trade
Tata Steel: Stocks of Tata Steel ended 2.11 per cent down at Rs 324.15 after the company kickstarted the sale of its cash-guzzling UK arm with divestment of Long Products Europe business to investment firm Greybull Capital for a nominal amount of 1 pound.
Dr Reddy’s Laboratories: Shares of the companies ended 1.79 per cent up at Rs 3082.80 after its board approved the buyback of 44.84 lakh equity shares with face value of Rs 5 each for aggregate amount not exceeding Rs 1,569 crore. The maximum buyback price for the offer is Rs 3,500 per equity share. The buyback will commence from April 18.
TTK Prestige: Shares of TTK Prestige settled 3.86 per cent up at Rs 4527.15 after the company said it will acquire a UK-based kitchenware firm for an undisclosed sum. The company’s UK-based wholly-owned subsidiary TTK British Holding has entered into an agreement for acquisition of the target company.
Nestle India: Stocks of the company closed 4.48 per cent up at Rs 6135.80 after the FMCG major its popular Maggi noodles has cleared tests conducted by Central Food Technological Research Institute (CFTRI) under the directive of Supreme Court, reiterating that its instant noodles brand is safe for consumption.
Jewellery companies stocks: Shares of jewellery makers gained on Tuesday after they reopened shops on Monday following nearly six weeks of protest. Jewellers went on an indefinite strike at the start of March to protest against the proposed excise tax. The strike was later called off on assurances from the excise department that it would not “harass” jewellers. Cheering the news, shares of Tribhovandas Bhimji Zaveri, Titan Company and PC Jeweller ended as much as 4.60 per cent, 1.77 per cent and 3.57 per cent respectively. Gitanjali Gems shares settled 5.03 per cent up.
Tata Motors: Stocks of the auto major closed 2.40 per cent up at Rs 395.10 after it reported a 11 per cent rise in global sales at 1,18,750 units in March, including that of Jaguar Land Rover (JLR) vehicles.
Agriculture-related stocks: Shares of fertiliser, irrigation systems and agri machinery manufacturers were in limelight after the government said monsoon this year is expected to be normal. Jain Irrigation Systems soared 6.13 per cent. Shares of Chambal Fertilisers and Chemicals ended up 4.07 per cent, Kaveri Seed Company gained 3.39 per cent, Rashtriya Chemicals and Fertilizers (2.95 pc), Deepak Fertilisers and Petrochemicals (1.12 pc) and National Fertilizers (3.05 pc).
Sugar companies stocks: Stocks of companies such as the Oudh Sugar Mills and Balrampur Chini Mills mostly ended in red on Tuesday on account of fall in global sugar prices. Shares of the Oudh Sugar Mills settled 5.47 per cent lower at Rs 76.05. Balrampur Chini Mills closed 3.75 per cent down at Rs 103.90.
Bajaj Corp: Stocks of the FMCG firm ended 8.42 per cent up at Rs 413.80 after it reported a marginal decline in standalone net profit at Rs 54.02 crore for the fourth quarter ended March 31. It had reported a net profit of Rs 54.42 crore in the January-March quarter of 2014-15 fiscal.