The BSE Sensex and NSE Nifty rallied over a percentage point on Monday on account of sustained buying by funds and retail investors in the frontline blue chips counters. Steep cut in interest rates on small savings schemes spur rate cut hopes that too supported the market sentiment. Sensex regained 25,000 mark, rising 332.63 points to close at 25,285.37, while NSE Nifty gained 99.90 points to close at 7,704.25.
Below are the 15 stocks that are trending in Monday’s trade
Banking stocks: Stocks of the banking companies remained in focus on Monday after the government on Friday announced a cut in interest rates on small savings schemes such as Public Provident Fund (PPF), National Savings Certificate (NSC) and Kisan Vikas Patras – which will fetch up to 90 basis points lower returns during the April-June quarter. All 10 shares in BSE Bankex settled the day in green. Public sector lenders, State Bank of India, Punjab National Bank and Bank of Baroda gained 2.93 per cent, 2.55 per cent and 2.19 per cent, respectively. On the other hand, private sector lenders, ICICI Bank, YES Bank, Axis Bank and HDFC Bank were also closed up by 1.93 per cent, 2.13 per cent, 1.74 per cent and 1.52 per cent, respectively. The BSE Bankex settled 1.70 per cent up at 18,155.36.
Jewellery stocks: Shares of jewellery companies advanced on Monday after jewellers on March 19 called off their 18-day old strike demanding rollback of proposed excise duty on non-silver jewellery after government assured them that there will be no harassment by excise officials. Shares of Titan Company, Tribhovandas Bhimji Zaveri, PC Jeweller and Gitanjali Gems ended up by 1.24 per cent per cent, 10.53 per cent, 3.22 per cent and 7.10 per cent, respectively.
VA Tech Wabag: Stocks of the company settled 4.85 per cent up at Rs 533.20 after the company informed stock exchanges that it has bagged record orders worth Rs 5,000 crore in FY 2016. This is the highest ever order intake clocked by the group in a single financial year.
Asian Paints: Stocks of the company ended 1.75 per cent down at Rs 859.55 after Kotak Institutional Equities said its channel checks suggest Asian Paints has cut prices across its decoratives portfolio by around a weighted average of 3 per cent. The brokerage said reiterated ‘Reduce’ rating and said price cuts could lead to a 3-5 per cent cut in 2017-18 EPS estimates.
Persistent Systems: Stocks of the company closed 10.52 per cent up at Rs 740.20 ahead of the company’s investor and analyst call which is scheduled at 5 pm today. Traders believe Persistent Systems could provide optimistic business guidance for the next fiscal year ended March 2017. Company expects to garner additional 15-20 per cent revenue in FY2017.
Prestige Estate Projects: Shares of the company ended 9.90 per cent up at Rs 153.20 after it informed BSE that the board at its meeting held on March 19, 2016, has approved the payment of interim dividend at the rate of 12 per cent i.e. (Rs 1.2 per share) for the financial year 2015-16. Further, the said dividend will be paid on or before April 17, 2016.
IDBI bank: Shares of the bank remained in action after market reports that the government is looking to cut its stake in the bank and is trying to get atleast 2 large institutional investors to buy its stake in IDBI bank. IDBI Bank shares closd 4.54 per cent up at Rs 70.25. Hiren Dhakan, associate fund manager, Bonanza Portfolio, said, “Markets expect the move would transform the operations of the bank and would be similar to the case of its rival Axis Bank which was earlier UTI Bank.”
Godrej Properties: Stocks of the company closed the day 2 per cent up at Rs 287.65 after the realty company announced setting up of a real estate fund, which has raised $275 million, with Dutch pension fund APG as the lead investor.
Aurobindo Pharma: Shares of the pharma company ended 3.06 per cent at Rs 742.95 as it has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Naproxen Sodium Tablets USP, 220 mg (OTC). This product is expected to be launched in Q1 FY16-17.
Torrent Pharma: Stocks of the pharma company settled the day 2.63 per cent up at Rs 1347.25 as it has said it plans to raise funds through various instruments including qualified institutional placements(QIP).
BHEL: Stocks of BHEL ended 1.24 per cent down at Rs 111.95 as Jindal Steel Power Ltd (JSPL) slapped a Rs 123-crore notice on BHEL, citing delays in execution of projects at two units of JSPL’s 2,400 MW coal-based plant at Tamnar in Chhattisgarh.
Uflex: Stocks of the company ended 1.68 per cent up at Rs 157.10 as Uflex is eyeing 30 per cent revenue from export markets in the next three years. At present, exports account for 18-20 per cent of the total revenue of its packaging business. Packaging business accounts for 44 per cent of the total revenue of Uflex, which is also into production of chemicals, cylinders and holograms and engineering.
Maruti Suzuki: While most carmakers are struggling to push sales, market leader Maruti Suzuki India is racing ahead in the domestic segment, capturing a 14-year-high share in it. Riding high on double-digit growth in sales, the company is set to close the year (2015-16) with a share of 47 per cent – compared to 45 per cent last year (2014-15). Shares of the company closed 1.12 per cent up at Rs 3670.10
Finolex Industries: Stocks of the company ended 1.68 per cent down at Rs 373.55 as it is aiming to double its turnover to Rs 5,000 crore in the next 3-4 years on the back of strong demand expected from both agri and non-agri segments.
ITC: Shares of the FMCG major ended 1.66 per cent up at Rs 330.40 after the company said its instant noodles brand Yippee are recovering and its market share has risen to anywhere between 30 and 40 per cent.
