The markets are steady in Monday trade ahead of the upcoming expiry tomorrow. The Nifty and the Sensex are in the green while the small and midcaps show significant outperformance. Interestingly, independent sectors and stocks are showcasing big moves in trade today.
Here is a look at the big movers and shakers in afternoon trade today –
Adani Power
The share price of Adani Power jumps 4% intra-day on the back of the news that the Adani Group plans to invest $60 billion in the power sector by FY32. This involves investment across renewables, power generation, and transmission and distribution (T&D). Moreover, the company inked a Rs 6,000 crore pact with Bhutan’s Druk Green for the 570 MW Wangchhu hydroelectric project
GMDC
The GMDC share price is up over 6% in trade today. This follows the sharp rally seen in this mining major promoted by Gujarat Government on Friday. In fact the shares are up a whopping 25% over the past 5 days. The Government as approved Rs 1,500 crore incentive scheme to boost recycling capacity for critical minerals under the National Critical Mineral Mission (NCMM). This mission, launched for 7 years from FY25 to FY31, is targeting a proposed expenditure of Rs.16,300 crore and an expected investment of Rs.18,000 crore by Public Sector Undertakings (PSUs) and other stakeholders.
It is seen as a strategic blueprint to secure energy security, drive industrial growth, and cement technological independence. From the lithium that powers electric vehicles to the rare earths vital for defencee systems, the National Critical Minerals Mission covers it all.
Tata Steel
Tata Steel along with the list of steel sector stocks, continues to be among the top gainers in trade today. The Tata Steel share price jumped over 2% intra-day on the back of hopes of China rationalising steel production. This is a key factor driving rally in other steel sector stocks like JSW Steel, SAIL, JSPL as well.
TBO Tek
Another big buzzer in trade today- The recently listed TBO Tek share price surged nearly 7% intra-day, Jefferies is bullish on the stock after its $125 million acquisition of Classic Vacations. The international brokerage house has also raised the target price on the back of this move as they expect this buy to strengthen the company’s presence in the outbound travel section. They have a Buy recommendation with a target of Rs 1,800 per share.
Brainbees
The parent company of FirstCry, Brainbees, is maintaining its upswing. The share price of Brainbees Solutions is up nearly 3% intra-day today after the sharp 11% rally on Friday. The shares are reacting positively to the lower GST on apparels costing less than Rs 2,500. The company retails products for babies, mothers and small kids through an e-commerce platform.