Suzlon Energy, Brightcom Group, South Indian Bank, RTN Power, L&T Finance shares top volume chart on NSE

Shares of Suzlon Energy Ltd, Brightcom Group Ltd (BCG), South Indian Bank, RattanIndia Power (RTN Power) and L&T Finance surged up to 9 per cent in Monday's trade amid strong volumes on NSE, data showed. The HDFC twins, Mazagon Dock Shipbuilders Ltd and Infosys Ltd, on the other hand, led amid high turnover on NSE, data showed.

Suzlon Energy jumped 9.15 per cent to Rs 16.70, as 33,46,48,466 shares worth Rs 551 crore changed hands on the counter. The stock rose after ICICI Securities initiated coverage, saying Suzlon Energy is best equipped to benefit from industry tailwinds. The brokerage expects a sharp uptick in Suzlon Energy earnings from FY24Eonwards. The brokerage has recommended a share price target of Rs 22 on the stock, valuing it at 24 times FY25 EPS.

Shares of Vodafone Idea rose 0.67 per cent to Rs 7.50. Vodafone Idea saw the second-highest volumes on NSE at 4,86,45,507 shares. A total of Rs 36.77 crore worth Vodafone Idea shares changed hands on the exchange so far.

South Indian Bank (4,69,86,275 shares changing hands) and Reliance Power (4,64,10,379 shares changing hands) were trading up to 7 per cent higher. YES Bank rose 1.23 per cent to Rs 16.45 amid high volumes. BCG climbed 4.97 per cent to Rs 32.75, with 1,74,97,818 BCG shares changed hands so far.

HCC, Jaiprakash Power, L&T Finance and UCO Bank were among other stocks seeing high volumes.

On the other hand, HDFC Bank, HDFC, Mazagaon Dock Shipbuilders, Infosys and ICICI Bank saw huge turnover on NSE. Data showed HDFC Bank topped the turnover chart with a turnover of Rs 1,475.92 crore on NSE. HDFC saw a turnover of Rs 760 crore. The HDFC-HDFC Bank merger got effective from July 1 and the record date for the same is July 13. Morgan Stanley said the HDFC-HDFC Bank merger is synergistic, with HDFC Bank getting access to secured and long tenor retail mortgage product as well as a large customer base. HDFC Bank's product suite, its direct access to insurance, and geographical reach are superior to those of most private banks, the foreign brokerage said.

The foreign brokerage said HDFC Bank is a compounder available at attractive valuations. The brokerage has resumed its overweight stance on the stock with a target of Rs 2,110, which suggests a potential 24 per cent upside ahead.

Mazagon Dock Shipbuilders soared 5.59 per cent while Infosys edged 0.08 per cent lower. Mazagon Dock Shipbuilders clocked a turnover of Rs 405 crore and Infosys Rs 359.17 crore.

ICICI Bank (Rs 285 crore), Mahindra & Mahindra (Rs 271 crore), Tata Motors (Rs 233 crore) and State Bank of India (Rs 210 crore) also logged high turnover.

Also read: Will HDFC Bank shares continue to command premium over ICICI Bank post merger? 

Also read: Morgan Stanley says HDFC Bank a compounder at attractive valuations, resumes overweight stance

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