It’s a cheerful Friday for the markets. The benchmark equities maintained steady momentum. The NSE Nifty 50 is up 0.43% above 25,100, while the 30-pack Sensex is trading 360 points higher at 81,900. The banking, midcap, and smallcap stocks are seeing brisk buying.
Here is a look at the top movers and shakers in trade today –
Bharat Electronics, Mazagon Dock
The share price of Bharat Electronics surged 3.3% to an intra-day high of Rs 398 on the National Stock Exchange. The defence stock was the top gainer in the Nifty 50. The overall list of defence stocks has been buzzing in Friday’s trade on the back of heavy volume. Even the share price of Mazagon Dock jumped 4%. The defence stocks have again started picking up after a lull in recent months.
Paras Defence
This is another defence stock that has seen significant gains today. The share price of Paras Defence is also buzzing in trade today. This is after the company bagged Rs 26.6 crore incremental order from Opto Electronics Factory (OLF). This is part of India Optel, an enterprise under the Defence Ministry.
JBM Auto
The JBM Auto share price rallied over 11% to the day’s high of Rs 696.70 on the National Stock Exchange. The uptick was on account of the company wining $100 million of long-term capital from the International Financial Corporation (IFC) to finance the deployment of e-buses across Maharashtra, Assam and Gujarat. “It marks IFC’s first capital investment in the e-bus sector in Asia and its largest globally, strengthening urban transport resilience across Indian cities,” said JBM Auto in an exchange filing.
RailTel
The share price of RailTel Corporation of India jumped over 4% in intra-day trade after the company announced fresh orders from Maharashtra civic bodies. Together, the orders from Panvel Municipal Corporation and Nashik Municipal Smart City Development Corporation are valued at around Rs 103.46 crore.
As part of the Panvel Safe City Project, RailTel has secured a contract worth Rs 32.51 crore, which includes supply, installation, and connectivity services using SD-WAN-based internet lease lines or MPLS lines across multiple locations. The work is slated for completion by March 19, 2031.
Lupin
The Lupin share price jumped 2% in trade today. The brokerage, Investec, has upgraded the stock to Buy and raised the target price. The new target indicates nearly 14% upside for the Lupin share price. Nomura too has a Buy on the stock after the US FDA approval for Risperdal Consta. This is a complex product, and Lupin is the first Indian generic, and second globally, to gain USFDA approval. This approval, as per Nomura, strengthens Lupin’s credibility in the complex generics segment. The company earlier had successfully gained approval for complex inhalers and now for complex injectables. Going ahead, the company aims for biosimilar approvals in the US.