The markets are muted today with the Benchmark Indices in the red. The Nifty is struggling around 25,100 levels while the Sensex is completely flat. The broader markets, however, are seeing significant traction. Both the BSE Midcap and the BSE Small Cap Index recorded brisk buying.
Some individual counters have seen sharp movement in their stock prices. Here is a look at the movers and shakers in trade today.
KRBL
The KRBL share price has plunged nearly 10% in trade today after one of its independent directors resigned, highlighting lapses from the board. On Saturday, the company informed the exchanges that one of its independent directors, Anil Kumar Chaudhary, had resigned. The resignation letter, attached with the exchange filing, stated Chaudhry’s key reason for resigning as “I have concluded that I am no longer able to meaningfully contribute to the Board’s functioning in the manner envisioned under the regulatory framework for independent directors. I believe that effective governance and truly independent oversight are essential ingredients for safeguarding stakeholder interests, and I find the prevailing dynamics of the Board to be inconsistent with these principles.”
Vodafone Idea
The share price of Vodafone Idea is up 6% in trade today. According to latest reports on CNBC-TV18, the Supreme Court may hear its plea on Rs 9,450 crore AGR demand on September 19. The stock has been struggling on concerns about how to pay off the AGR dues. All eyes are now on the September 19 Supreme Court decision. The share price has plunged nearly 40% in the last 1 year.
RVNL, RailTel
The RVNL share price is up nearly 4% intra-day today. Not just this counter but most other Railway PSU sector stocks are buzzing in trade today. The likes of IRCON, RailTel, IRFC are up anywhere between 2-5% in intra-day trade. The recent spree of order wins has lifted sentiment across the railways sector. The Policy-driven push is also seen as a key catalyst driving up the stock prices.
Tata Communication
The Tata Communication share price is up over 3% intra-day. ICICI Securities has upgraded the rating for the shares. They have changed the rating to Buy from Add and raised the target price to Rs 2,000 per share. This implies nearly 24% upside from current levels for Tata Communication.