The markets on Friday, October 3, showed little direction, with benchmark indices moving in a tight range. The Nifty is flat at 24,829.60, down just 8.43 points, while the Sensex is flat at Rs 80,974.88.
Here is a look at the top movers and shakers at this hour–
Sammaan Capital
Sammaan Capital share price dropped nearly 5%, breaking a six-day winning streak. International Holding Company (IHC) a global investment company announced that it has entered into definitive agreements to acquire a controlling stake of 41.2% stake in Sammaan Capital for Rs 8,850 crore. The transaction marks IHC’s foray into the financial services sector in India and represents the largest ever primary capital infusion by an investor in a non-bank financial company in India.
Tata Steel
Tata Steel share price rose strongly, gaining as much as 4.31% to hit an intraday high of Rs 174.74 apiece. The uptick came after Bloomberg, citing a draft proposal, reported that the European Union is mulling over increasing tariffs on steel imports and significantly lowering the quota volumes before duties are imposed. This move may provide some benefit for Tata Steel Europe.
Waaree Energies
Waaree Energies share price gained more than 3%, quoted at Rs 3,434.20 in morning trading after the company approved a significant capex plan.
The scrip hit a high of Rs 3,469 and a low of Rs 3,359 during the day. Over the past year, Waaree has surged nearly 47%, with a wide 52-week range of Rs 1,863 to Rs 3,865.
Vedanta
Vedanta share price traded higher, up 2.41% despite renewed delay over the delayed demerger of its businesses into six listed entities. This surge can be attributed to soaring silver prices in India, which have surged to fresh records.
Tata Investment
Tata Investment share price jumped sharply, rising more than 9% to Rs 11,606 in Friday trade. During the session, it touched an intraday peak of Rs 11,847, up nearly 11.9%.
MCX
MCX share price climbed 2.5% to Rs 8,198, marking a six-week high. The rally followed a note from UBS, which forecast strong September-quarter earnings for the commodity exchange.
With global commodity markets buzzing, MCX is seen as a direct beneficiary, and investors are re-rating the stock.
Axis Bank
Axis Bank share price rose 2.4% to Rs 1,187.70 intraday on BSE. The trigger was Morgan Stanley reiterating its ‘Overweight’ stance and raising its target price to Rs 1,450, implying a potential 25% upside.
John Cockerill
John Cockerill share price surged 7.63% to a lifetime high of Rs 6,497.95 after the company secured a contract from Godawari Power and Ispat for the design, engineering, manufacture, and supply of a 6-Hi Reversible Cold Rolling Mill (CRM).
Adani Power
Adani Power share price was one of the busiest counters, clocking 10.24 crore shares in volume with turnover of over Rs 1,493.80 crore.
The stock opened at Rs 152.90, touched a high of Rs 153.00, but then slipped sharply to Rs 143.15. That marked a 6.14% fall from the previous close of Rs 152.51. The volatility underlines the fragile sentiment in the power sector despite high investor interest.