Stocks Radar: Tata Motors, NHPC, Jindal Steel & Power And More
Infosys emerged as the best performing stock on the Nifty and Sensex, on Friday morning.
Indian shares climbed to a near one-month high tracking a global equity market rally after the European Central Bank extended its stimulus programme amid speculation that Trump will boost spending, shoring up growth in the world’s largest economy.
The S&P BSE Sensex gained 0.3 percent to 26,779 while the NSE Nifty advanced 0.2 percent to 8,263. The market breadth was skewed in favour of the buyers at 866 advances, 534 declines and 458 stocks remaining unchanged.
Here are the stocks moving the markets today:
NHPC
Shares of the power company rose 1.8 percent to Rs 27 after it signed a power purchase agreement with the Assam Power Distribution Company for two upcoming projects, Tawang I and Tawang II.
The company also extended its bulk power purchase agreement with Assam Power Distribution for the Loktak Power Station project.
Both the agreements have been signed for a period of 35 years, the company said in a statement to the exchanges.
IL&FS Construction and Engineering
The construction company rose 3.4 percent to Rs 45 after it emerged as the lowest bidder for a Rs 225 crore project for rural electrification in Sahibganj and Pakur districts in Jharkhand.
The project falls under the Deen Dayal Upadhyay Gram Jyoti Yojana, the company said in a filing to the exchanges.
The project is expected to be completed within the next 24 months. The company has previously been involved in rural electrification work in states like West Bengal, Orissa, Rajasthan and Uttar Pradesh.
Sensex, Nifty: Movers & Shakers
Infosys, Asian Paints and Tata Motors were among the best performing stocks on the Sensex as the market opened on Friday morning. The best performers on the Nifty included additional stocks such as Hindalco Industries and Tech Mahindra.
Earnings Reaction
- Steel Authority of India (-2 percent to Rs 53)
- Jindal Steel & Power (-2.8 percent to Rs 71)
- Claris Lifesciences (+5.3 percent to Rs 321)
Earnings Watch
- DLF (+1.2 percent to Rs 114)