Business Today

Pipavav Defence, Infosys and ICICI Bank among top stocks that were in focus today

Reliance Infra will sell 49% equity stake in its integrated power business in Mumbai and adjoining areas for up to Rs 4,000 crore to Canada's PSP Investments.

BT Online | November 17, 2015 | Updated 16:27 IST
Pipavav Def, Infosys and ICICI Bank among top stocks that were in focus today
ICICI Bank said it proposes to sell 6 per cent stake in its life insurance arm ICICI Prudential Life to two investors. Photo: Reuters

Extending gains for the second consecutive day, the domestic markets ended higher in a volatile trading session on Tuesday, as investors continued to buy into beaten-down stocks such as ITC even though sentiment remained broadly cautious.

The S&P BSE Sensex closed 104.37 points up at 25,864.47, while broader CNX Nifty held its key support level of 7,800 and settled at 7,837.55, up 30.95 points.

Market breadth remained positive with 20 of the 30 Sensex components ending the day in green.

Here are top stocks which will remain in focus today:

  1. Infosys: Shares of Infosys slipped nearly 3 per cent in trade on Tuesday after the IT giant warned of weaker margins in the December quarter and the second half of the current financial year.The stock ended 1.77 per cent down.
  2. Dishman Pharma: Shares of Dishman Pharmaceuticals and Chemicals fell over 16 per cent in heavy volume in trade on Tuesday as the USFDA on Monday asked for more data on US firm Clovis Oncology Inc's lung cancer drug, Rociletinib, potentially delaying its approval. The stock ended 14 per cent down.
  3. ICICI Bank: ICICI Bank shares ended flat after rising as much as 2 per cent after the company proposed to sell 6 per cent stake in its life insurance arm ICICI Prudential Life to two investors, including Premji Invest, for about Rs 1,950 crore.
  4. Ajanta Pharma: Ajanta Pharma shares ended 1.24 per cent up after the company said it has launched generic version of Singulair granules, used in the treatment of asthma, in the US market. The company in a filing to BSE said Ajanta Pharma US Inc has launched montelucast sodium granules, a generic version of Merck & Co, Inc's Singulair granules, in the US market.
  5. Nestle India: Shares of nestle India ended 1.51 per cent up after the Food regulator FSSAI moved the Supreme Court against the Bombay High Court order in the Maggi noodles case seeking expunging of certain adverse remarks made against it.
  6. Pipavav Defence and Offshore Engineering: Shares of Pipavav Defence and Offshore Engineering surged nearly 6 per cent in trade on Tuesday after Reliance Infrastructure said it would begin the Rs 1,263 crore open offer to acquire additional 26 per cent stake in Pipavav on December 2. The stock ende the day 5.09 per cent up after hitting an intraday high of Rs 63.40, up 5.84 per cent on BSE.
  7. Hathway Cable: Shares of Hathway Cable & Datacom dropped nearly 4 per cent in trade on Tuesday after global investment bank Macquarie cut its holding in the company by 6.36 percentage points to 3.06 per cent. The scrip ended 2 per cent down on BSE.
  8. Sugar stocks: Shares of sugar companies hogged limelight in trade on Tuesday as 11 sugar stocks hit their fresh 52-week highs and rose up to 20 per cent on expectation of lower sugar output this year owing to deficient monsoon.


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