Shares of IT firm Geometric settled the day 19.39 per cent up at Rs 234 after HCL Technologies announced that it has signed an agreement to acquire all the business of the company in an equity swap deal.
The BSE Sensex and NSE Nifty ended in green on Monday ahead of the Reserve Bank of India (RBI) monetary policy review scheduled on April 5 amid firm global cues. Sensex closed 130.01 points up at 25,399.65, while Nifty settled 45.75 points up at 7,758.80. Click here to find out how markets performed today
Below are the 18 stocks that are trended in Monday’s trade
DLF, Indiabulls group firms and Apollo Tyres: Shares of DLF, Indiabulls group firms and Apollo Tyres were trading under pressure in the afternoon trade on Monday after Indian Express reports revealed the names of Indians in global list of secret companies in tax havens. In late trade (at 2.58 pm), DLF shares were 1.74 per cent down at Rs 118.75. Apollo Tyres were trading 1.49 per cent down at Rs 171.80. Indiabulls group firm shares such as Indiabulls Real Estate and Indiabulls Housing Finance were down by 1.12 per cent and 2.01 per cent respectively. Indiabulls Ventures and Indiabulls Wholesale Services also settled lower by 3.40 per cent and 2.60 per cent respectively.
Telecom stocks: Stocks of telecom companies remained on buyers’ radar on report, which claimed that the government has cut spectrum usage charges from 5 per cent to 3 per cent. Telecom companies have to pay two types of charges – a one-time price for bagging the spectrum rights and a recurrent spectrum usage charge, which was fixed at 5 per cent of adjusted gross revenues of telecom companies. Idea Cellular, Bharti Airtel and Reliance Communication surged by 6 per cent, 3.76 per cent and 1.89 per cent respectively.
Steel Strips Wheels (SSWL): The company has reported 10 per cent growth in its total wheel rim sales to 12.25 lakh as compared to 11.16 lakh in March 2015. In terms of value, the company has achieved gross turnover of Rs 127.48 crore in March 2016 as compared to Rs 117.70 crore in March 2015, recording a growth of 8 per cent and achieved a net turnover of Rs 115.08 crore in March 2016 as against Rs 105.8 crore in March 2015, recorded a growth of 9 per cent. The company’s export surged 46 per cent YoY in March 2016. Shares of SSWL ended 2.80 per cent up at Rs 360.
Infibeam Incorporation: Shares of Infibeam Incorporation debuted on the stock exchanges today and listed at Rs 458 on BSE, a premium of 6 per cent over its issue price of Rs 432. Later, the share price closed at Rs 445.70. The e-commerce firm, which has raised Rs 450 crore through the initial public offer (IPO) is the first e-commerce player in the country to make a stock market debut.
MBL Infrastructures: Shares of the company closed 2.47 per cent up at Rs 157.70 after it bagged road development projects worth Rs 2,126 crore from NHAI in Uttarakhand and Uttar Pradesh. Sensex was trading 39.14 points down at 25,230.50, while NSE Nifty was trading 6.90 points down at 7,706.15.
Adani Enterprises: Shares of the company closed 5.86 per cent up at Rs 80.45 after the company’s $21.7 billion coal mine project in Australia won three mining leases.
Mphasis: Private equity firm Blackstone has said it will buy out HP Enterprise’s stake in Mphasis for up to Rs 7,071 crore ($1.1 billion), marking the largest IT deal for the US-based firm in India. Stocks of Mphasis ended 2.77 per cent down at Rs 454.45.
HCL Technologies and Geometric Ltd: IT company HCL Technologies it has signed an agreement to acquire all the business of Geometric Limited in an equity swap deal. The acquisition, however, excludes the 58 per cent stake that Geometric owns in a joint venture — 3DPLM Software Solutions Ltd — with Dassault Systemes. Later, Geometric settled the day 19.39 per cent up at Rs 234, while HCL Tech ended 2.33 per cent up at Rs 839.80
Godrej Consumer Products Ltd (GCPL): Stocks of the company closed 2.31 per cent up at Rs 1,420.55 as the FMCG major expects overseas markets to account for more than half of its total sales after acquiring US-based Strength of Nature LLC.
MOIL: Stocks of the company settled the day 14.06 per cent up at Rs 248.30 as it has hiked prices of various grades of manganese ore by up to 50 per cent for April-June quarter.