Moneycontrol Bureau
After consolidation, the market ended with smart gains on Thursday. The Nifty closed June F&O series tad below 8400-level. The 50-share index was up 37.15 points or 0.4 percent at 8398 while the Sensex jumped 166.30 points or 0.6 percent at 27895.97.
As the market heads into new series from tomorrow, Manoj Murlidharan of Religare Securities says he expects Nifty to touch 8,600-8,650 as FIIs opt for reverse arbitrage. However, there is a chance of market making new bottom closer 7,900-7,850 level, he said.
So, here are the stocks that kept traders busy on Dalal Street.
It slumped over 14 percent intraday on buzz that promoters are selling stake in the company. After initial fall in early trade, the stock recovered from day’s low as the management denied any such development. However in the last few hours before market closing, the stock started downward spiral again. (Read more)
It fell over 3 percent intraday. Goldman Sachs has terminated coverage on the stock and rates it sell. It has also reduced target price to Rs 1625 from Rs 1665 per share. The brokerage has lowered earnings per share estimates by 2.2 percent to 3.8 percent over FY16-17 factoring in trends from Q4FY15 results. (Read more)
Shipping stocks
Shipping Corporation of India and Varun Shipping jumped 5-6 percent intraday as Baltic Dry index (BDI) hit year-high levels on Wednesday. The index has climbed consistently in June, after being under pressure in beginning of the year. (Read more)
Shares surged 10 percent intraday as it is looking to refinance its long-standing debt. According to media reports, GMR Infrastructure has asked for refinance under the Reserve Bank of India's (RBI) 5/25 scheme for loans. (Read more)
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