Dalal Street extended its winning momentum for the fifth consecutive session in trade on Wednesday, August 20, as investors continued to remain optimistic around the Centre's plan to rationalise Goods and Services Tax (GST). Information and technology stocks supported the buying interest as well.
PG Electroplast | CMP: Rs 537 | The stock surged 6 percent but settled with mild losses on August 20 after the company signed a definitive agreement with PAX India, a subsidiary of PAX Global Technology, to manufacture Point-of-Sale (POS) devices in India.
Servotech Renewable | CMP: Rs 129 | The stock jumped 7 percent on August 20 after the company secured a 7.3 MW on-grid rooftop solar order from the North Western Railway, Jaipur Division.
ASM Tech | CMP: Rs 3,539 | The stock rose 7 percent on August 20 In the past three trading days, the stock price of the smallcap company has surged 33 percent. In the past five months, the stock has zoomed 197 percent.
Ola Electric | CMP: Rs 53 | Ola Electric shares have been moving higher on the bourses over the past two days, aided by heavy volumes. The stock of the electric two-wheeler manufacturer zoomed 18 percent on August 20 as 0.3% equity change hands in 10 blocks, showed data. HUL | CMP: Rs 2,668 | The stock surged 2 percent on August 20, extending its rally to a third straight session. The stock of the fast moving consumer goods (FMCG) company has surged 7 percent during the period on hopes of a consumption boost.
Aurobindo Pharma | CMP: Rs 1,046 | The stock fell over 4 percent after reports suggested that the company has emerged as the front-runner to acquire Prague-based generic drugmaker Zentiva for $5-5.5 billion (Rs 43,500-47,900 crore) from Advent International. If this deal goes through, it will be the largest-ever acquisition by an Indian pharmaceutical company, both domestically and internationally. HAL | CMP: Rs 4,469 | State-run defence equipment manufacturer Hindustan Aeronautics Ltd. (HAL) rose 3 percent after CNBC TV-18 reported that the company is likely to receive a big purchase order. The Cabinet Committee on Security (CCS) has cleared the purchase of 97 Light Combat Aircraft (LCA) Mark1A fighter jets worth Rs 62,000 crore from HAL. An official confirmation would mean one of the largest purchase orders for the state-run enterprise, where the fighter jets would be indigenously developed. Phoenix Mills | CMP: Rs 1,562 | The stock jumped 4 percent after the company said the Competition Commission of India cleared its plan to buy out Canada Pension Plan Investment Board’s 49 percent stake in Island Star Mall Development for Rs 5,449.16 crore, giving PML full ownership and sole control of the subsidiary. Shares of online gaming companies, including Delta Corp, Nazara Technologies and OnMobile Global, tumbled up to 6 percent after the Union Cabinet approved a Bill to regulate the sector. The proposed law prohibits online money gaming and related advertisements, prescribing fines and imprisonment for violators.
Garden Reach | CMP: Rs 2,580 | The stock fell by a percent on August 20 after the company, in its earnings call said, topline and bottomline growth over the next two financial years to be similar to the last fiscal. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
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