ITC, Adani Group stocks to PNB Group Stocks – here are top Buzzing Stocks today

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The domestic benchmarks were trading at around a half per cent loss in Wednesday’s noon deals. At 12:35 pm, S&P BSE Sensex was trading 350.19 points or 0.67% lower at 51,584.69. The Nifty 50 index was trading 75.45 points or 0.48% higher at a fresh lifetime high at 15,499.40. Meanwhile, certain stocks were in action in either direction based on reports linked to them. Here is a list of few such stocks:

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Earnings: ITC + Gujarat Gas

ITC: Down 2.35%. It has reported a 1.3% YoY decline in the consolidated profit at Rs 3,748.4 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 3,797.1 crore in the corresponding quarter of the previous financial year. The board has recommended a dividend of Rs 5.75 per share and fixed June 11, 2021, as the record date for the purpose. 

Gujarat Gas: Bullish and trading 5.53% higher, The City Gas Distribution company has reported a 10.5% QoQ decline in the consolidated profit at Rs 350.9 crore for the quarter ended March 31, 2021. It had posted a profit of Rs 392.3 crore in the previous quarter ended December 31, 2020. Besides, the board has also approved the acquisition/transfer of the City Gas Distribution business for Amritsar and Bhatinda Geographical Area (‘CGD Business’) on a Slump Sale basis from Gujarat State Petronet Limited (‘GSPL’) for an aggregate cash consideration of Rs. 163.31 crore, without values being assigned to individual assets. GSPL is the promoter of Gujarat Gas. 

Adani Group Stocks: Rally Again. 

Pharma Stocks: On the move. Stocks like Lupin – up 3.37% and Glenmark Pharma – up 3.01% among others were trading in green.

Midcap Banks: In action. Stocks like BoB – up 2.46%, IDFC First – up 3.56%, Canara Bank – 1.79% and RBL – up 1.80%

PNB Group Stocks: Rally. PNB up 4%, PNB Gilts up 17%, gained 50% in 3 sessions, PNB Housing on the circuit for 3rd day – up 60% in 3 days. 

Agrochemical Stocks: Rally after IMD Says monsoon to be 101% of long-term average. Stocks like Sumitomo – Hits 10% upper circuit and trading 13.32% higher, UPL – up 2.45% and PI Industries – up 1.82%. 

Insurance Stocks: Buzzing. Stocks like SBI Life – up 2.25%, ICICI Prudential – up 2.18% and HDFC Life – up 1.44%. 

PSU Bank Stocks: In action. Nifty PSU Bank index was trading with a gain of 2.06%. Stocks like Punjab & Sind Bank – up 4.30%, PNB – up 4.20%, IOB – up 3.60%, Indian Bank – up 3.09%, and SBI 0.83% among others were trading higher. 

Stocks in News

Hero MotoCorp: Down 0.26%. India’s largest two-wheeler company reported an MoM decline in total sales in May 2021. It sold 1,83,044 units in May 2021 compared to 3,72,285 units sold in April 2021. The company halted operations at all of its manufacturing facilities across the country on April 22, 2021. 3 plants started single-shift operations on May 17, 2021, followed by the other 3 plants on May 24, 2021.  

Eicher Motors: Up 0.46%. The company has reported an MoM decline in sales of Royal Enfield in May 2021. It sold 27,294 units in May 2021 compared to 53,298 units sold in April 2021. 

NMDC: Up 0.58%. The iron ore company on Monday reported the details of the production and sale of iron ore for and up to the month of May 2021. It produced 2.79 MT of iron ore in May 2021 compared to 2.29 MT produced in May 2020. Sales grew to 3.30 MT in May 2021 compared to 2.55 MT sold in May 2020. 

JSW Steel: Up 0.55%. The company has increased the price of HRC by Rs 3,150 per ton and CRC by Rs 4,900 per ton, sources. Supply tightness due to higher export orders has resulted in a steep hike in prices, 

Infosys: Down 1.14%. Market regulator SEBI on Tuesday barred two employees of Infosys along with six others from trading in the stock market on insider trading allegations. In a statement on Tuesday, Infosys said it will initiate an internal investigation into the insider trading matter.

Buzzing Stocks

Narayana Hrudayalaya: Up 4.35%. 

Hosiery Stocks: Trading higher. Stocks like Lux Industries – up 4.68%, Dollar Industries – up 3.97%, Lovable – up 3.08%, VIP clothing – 0.89% and Rupa & Company – up 0.28%, were trading higher. 

Bank of Baroda: Gaining from lows and trading 1.51% higher 

Metal Stocks: Gaining and Nifty Metal index was trading 1.28% higher. Stocks like Adani Enterprises – up 7.60%, Welspun India: Up 2.01%, Vedanta – up 1.44%, MOIL – up 1.26% and Tata Steel – up 0.97% among others were trading in green. 

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