NTPC shares closed 2.41 per cent up at Rs 121.35 after state-owned Life Insurance Corporation (LIC) increased its stake in India's largest power producer NTPC by 3.90 per cent after buying 32.15 crore shares in the open market.
The BSE Sensex and NSE Nifty snapped three-day losing streak on Friday after the Economic Survey projected the Indian economy to grow at 7-7.75 per cent in 2016-17, which could accelerate to 8 per cent in a couple of years. Sensex surged 178.30 points to end at 23,154.30, while Nifty50 gained 59.15 points to close at 7,029.75.
Below are the top 7 stocks that trended in today’s trade
NTPC: State-owned Life Insurance Corporation (LIC) has increased its stake in India’s largest power producer NTPC by 3.90 per cent after buying 32.15 crore shares in the open market. Shares of the company ended 2.41 per cent up at Rs 121.35.
United Spirits: Stocks of the company closed 2.45 per cent up at Rs 2729.85 after Vijay Mallya agreed to give up his chairmanship and board position at the company now owned by Britain’s Diageo Plc.
Tata Motors: Stocks of the automaker closed 1.41 per cent up at Rs 302.20 after Deutsche Bank raised automobile company’s price target by 8 per cent to Rs 325 and maintained “hold” rating on the stocks.
Fertiliser companies: Fertiliser companies’ stocks remained on buyers’ radar on hopes that the government may announce some important measures for reviving agriculture economy in the Union Budget 2016-17. Shares of Deepak Fertilisers and Fertilisers & Chemicals closed 1.12 per cent and 3.60 per cent up at Rs 140 and Rs 21.60, respectively.
Gujarat Gas: Stocks of the company closed 1.43 per cent down at Rs 492.90 after it informed that PPG Sarma, CEO of the company, has tendered his resignation from the service of the company. He will be relinquishing his charge on March 01, 2016 after office hours. Nitin Patil, executive director-technical & HSE will assume the charge of the office of the chief executive office with effect from March 02, 2016, as in-charge CEO of the company.
Chembond Chemicals: Shares of the company closed 3.74 per cent up at Rs 360.50 on inking JV agreement with I-Chem Solution. Chembond Chemicals has signed a Joint Venture (JV) agreement with I-Chem Solution Sdn Bhd, Malaysia, operating in the water treatment solutions business, to serve water treatment market. The company would own 51 per cent of the equity in the Joint Venture with the balance being held by I-Chem Solution Sdn Bhd.
Castrol: In spite of a massive fall in input cost, lubes major Castrol India on Thursday reported a tepid 6.7 per cent growth in net income at Rs 140.8 crore for the fourth quarter ended December. Stocks of the company closed 1.35 per cent down at Rs 372.25.