YES Bank, ZEE, Zomato, Dish TV, Shree Renuka, Snowman, NHPC shares see high volumes on NSE

YES Bank Ltd, ZEE Entertainment Enterprises Ltd, Zomato Ltd, Dish TV Ltd, Shree Renuka Sugars Ltd and Snowman Logistics were some of the stocks on NSE seeing high volumes in Tuesday's session. HDFC Bank Ltd, NHPC Ltd, Coal India Ltd, Power Grid, Deepak Fertilisers and Whirlpool of India Ltd saw high turnover, data on active NSE stocks suggested.

YES Bank shares fell 0.74 per cent to Rs 26.90 on BSE. The YES Bank counter saw 14,24,06,036 shares worth Rs 344 crore changing hands. The private lender will have an institutional investor conference on February 21. It was followed by Vodafone Idea, which saw 14,08,49,239 shares worth Rs 228 crore changing hands. This stock advanced 1.88 per cent to Rs 16.30. Dish TV shares climbed 6.74 per cent to Rs 25.35 as 12,97,10,663 shares worth Rs 326 crore changed hands. NHPC share rose 0.83 per cent to Rs 97.60, as 6,17,39,437 NHPC shares worth Rs 603 crore changed hands. HFCL shares were up 3.26 per cent at Rs 110.80. A total of 5,52,66,621 HFCL shares worth Rs 610 crore changed hands.

Zomato Ltd recoded volume of 5,51,24,969 shares. The Zomato stock added 1.49 per cent to Rs 159.85. CLSA recently maintained its 'BUY' rating on Zomato but lifted its target price to Rs 227 from Rs 181. This is even as it lowered its FY24 PAT estimate to Rs 430 crore and less than 1 per cent cut in FY25-26 estimates to reflect changes in other income, tax and Ebitda assumptions.

"We believe benchmarking its valuation with Indian QSRs and our consumer coverage is better given similar growth drivers and profit pool. Comparing with global peers is more complex given different drivers and large valuation ranges within a limited set," it said.

Jio Financial Services Ltd (Jio Financial), ZEE, Shree Renuka Sugar, Power Grid, Federal Bank and NBCC other stocks on NSE that saw prise in both share price and volumes.

"Factoring in improved order intake/margins and traction in real estate monetisation, we revise upwards P/E multiple to 40x (25x earlier). However, ~115% run-up in the stock in the last three months leaves little room for upside. Hence, we downgrade the stock from ‘BUY’ to ‘HOLD’ with TP of INR143 (earlier INR76) as we rollover to Q3FY26E," Nuvama said on NBCC.

In the case of ZEE, the stock was in news amid a media report suggesting the media group was re-engaging with Sony Group in a last-ditch attempt to save the $10-billion mega merger that was officially terminated on January 22. Federal Bank shares fell about 8 per cent in Tuesday's trade as Kotak Mahindra Bank made director KVS Manian joint MD. Manian was reportedly among the three names that were shortlisted by Federal Bank for the CEO job.

In turnover terms, HDFC Bank Ltd led the chart as Rs 1,518 crore worth bank shares changed hands. Zomato, Jio Financial, Coal India and Power Grid were some other stocks leading the turnover chart on NSE.

"Domestic power generation is expected to grow by 7.7 per cent to 1,750bu in FY24, which will drive coal demand. In line with the recent trend in e-auction premiums, we have trimmed our e-auction premium for FY26E while increasing e-auction volumes. As a result, we have increased FY26E revenue/EBITDA/APAT by 1 per cent/9 per cent/7 per cent. We reiterate our BUY rating with a target of Rs 520 (5.5x EV/EBITDA). We believe COAL is well placed to capitalize on the growth opportunity ahead," Motilal Oswal said.

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