The markets are muted in afternoon trade. The Nifty 50 is hovering around 25,200 while the Sensex is flat, trading above 82,100. The auto stocks are the big stars in trade today. There are some other buzzers too.
Here is a look at big movers and shakers at this hour –
Maruti Suzuki
The share price of Maruti Suzuki surged 3.2% to an intra-day high of Rs 16,325 on the National Stock Exchange. The uptick in the share price of auto stocks came on the back of a cut in GST rates, coupled with festive demand. These two factors are expected to boost sales significantly.. The Nifty Auto Index is up over 1% in today’s trade. Maruti Suzuki has given a return of 12% in the past month and 35% in the past six months. The stock has risen 27% in the last one year.
KEC International
KEC International share price increased 8.3% to an intra-day high of Rs 937.80 on the NSE. The rise in stock prices came after the company announced new international orders worth Rs 3,243 crore. KEC International said that the new orders pertain to its Transmission and Distribution (T&D) business and include large-scale international projects. These comprise the construction of 400 kV transmission lines in the United Arab Emirates (UAE) and the supply of towers, hardware, and poles in the Americas.
Vodafone Idea
The share price of Vodafone Idea rose 7% to the day’s high of Rs 8.97 on the National Stock Exchange. However, there was no immediate trigger behind this significant jump. This is the third consecutive session in which the stock price of Vodafone Idea has risen. The company stock saw a steep surge the previous week after the Supreme Court agreed to admit the company’s plea with regard to some of its AGR dues. The next hearing is on September 26.
Adani Power
Adani Power share price fell 5.8% to the day’s low of Rs 160.25 on the NSE. The stock witnessed profit booking after a stellar run. The fall came a day after the record date for its 1:5 stock split. The stock has climbed more than 32% in the last three sessions, including hitting the 20% upper circuit in the previous trading session. Also, adding to the positive sentiments which were driven by the Securities and Exchange Board of India (SEBI) as it dismissed Hindenburg Research’s allegations against the conglomerate and its billionaire founder, Gautam Adani.