The markets have stabilised after an initial knee-jerk reaction on the back of the H-1B shocker. The Nifty is trading around the 25,300 mark. However, there are several big movers and shakers in the market, despite the benchmark indices staying calm.
Here is a look at the top movers in trade today-
Adani Power
Adani Power share price has seen a firm rally after the 1:5 stock split became effective today. This is the first ever stock split by the company. Earlier this month, the Adani Power shareholders approved the stock split plan through a postal ballot.
Adani Total Gas, Adani Green
Other Adani Group stocks are also buzzing in trade today. Adani Total share price has jumped 18% intra-day. The stock has seen significant gains over the last two trading sessions and is now trading above its 50-day, 100-day and 200-day moving averages.
The Adani Green share price is also up nearly 10%. The shares are in focus after Jefferies upgraded the stock and predicted 33% upside over the next 12 months.
TCS, Coforge
The entire IT pack is in focus today after the $100K H-1B visa shocker. The Nifty IT Index is down nearly 3% intra-day, though off the morning lows. The key losers in the IT space include MphasiS, LTI Mindtree, Persistent. TCS, Infosys are among the key large cap losers. However, most brokerages see limited impact on margins over the near-term. In the long term, they believe the move could actually boost local hiring, and the GCC segment might see a boost too as a result.
Cochin Shipyard
The share price of Cochin Shipyard and many other defence sector stocks are buzzing in trade today. This is on the back of an ANI report that the Indian Navy may place Rs 80,000 crore order for four Landing Platform Docks, boosting amphibious warfare capability. Other defence stocks like Mazagon Dock and L&T are also in focus as a result of this order buzz.