HUDCO, KPI Green Energy, PTC Industries, Canara Bank shares rose up to 9% today. Here's why

A couple of stocks including Canara Bank, Housing & Urban Development Corporation Ltd (HUDCO), PTC Industries Ltd and KPI Green Energy Ltd were trading up to 9 per cent higher in Thursday's trade amid company-specific news developments. 

Shares of HUDCO gained 3.05 to Rs 117.56 on BSE after the company in an exchange filing said it has executed a Memorandum of Understanding (MoU) with the the Gujarat government for an investment up to Rs 14,500 Crore for financing the housing and urban infrastructure projects in the state. 

KPI Green Energy shares soared 9.43 per cent to Rs 1,402.05. The stock gained as the company said its board will meet on December 30 to consider and approve the proposal for issue of bonus equity shares. The stock also gained as KPI Green Energy informed the stock exchange about commissioning of solar power projects totaling 17.35 MW by the company and wholly-owned subsidiary, KPIG Energia. 

Shares of Canara Bank gained 1.93 per cent to Rs 440.95 on BSE after the PSU bank okayed listing of its mutual fund arm Canara Robeco Asset Management Company Ltd via initial public offer (IPO). The modalities of listing, the PSU lender said, would be decided in due course. Canara Bank said the listing would be subject to due diligence, laid down procedures, opportune time and regulatory approvals.

The PTC Industries stock rose 2.77 per cent to Rs 6,147.15. This stock rose as the company signed a MoU with Nasmyth (UK) for a collaboration to leverage their capabilities for offering solutions to defence and aerospace customers in India and globally. 

"This cooperation will help PTC expand its capabilities to better support Indian customer requirements and successfully execute those projects. The partnership will focus on developing casting, machining, assembly, and thermal precision engineering capabilities in India," PTC Industries said.