Other than Airtel and Idea, look which other stocks that buzzed on trade today
September 1, 2016
Snapping three session long gaining spree, the S&P BSE Sensex on Thursday settled 28 points lower, while the broader Nifty50 closed below its key 8,800-mark.
The headline indices ended flat as auto makers extended recent gains on expectations of rising sales, while telecom firms such as Bharti Airtel slumped after Reliance Industries unveiled plans to offer free local voice calls on its new mobile network.
Below are seven stocks that are buzzing in trade today:
- Telecom stocks: Stocks of Bharti Airtel and Idea Cellular tumbled up to 11.01 per cent in trade on Thursday after Mukesh Ambani, Chairman of Reliance Industries, detailed market disrupting Reliance Jio services that are expected to catch major customer base from the incumbent players.
- Cement companies: Shares of cement companies such as ACC, Ambuja Cements and Jaiprakash Associates shed up to 5 per cent in trade on Thursday after Competition Commission of India on Wednesday imposed more than Rs 6,700 crore penalty on 11 cement companies for cartelisation.
- Hathway Cables: Shares of Hathway Cables slipped over 6.7 per cent after the company reported Rs 53.2 crore loss in the June quarter compared with Rs 37.30 crore reported in the year-ago period.
- Power Mech: Shares of Power Mech surged over 5 per cent and settled the day rs 477.70 up after the company reported marginal rise in the net profit to Rs 16.60 crore in the June quarter compared with Rs 15.90 crore reported in the year-ago period.
- SpiceJet: Shares of SpiceJet settled the day flat after adding 3 per cent to the stock. This came after the aviation ministry said the airline has suitable aircraft in its fleet to be the launch airlines for ministry's project to provide air connectivity to towns and small cities.
- Indiabulls Housing Finance: Indiabulls said it plans to raise up to Rs 100 crore through issuance of non-convertible debentures (NCDs). Reacting to this, the stock gained as much as 3.04 per cent.