Buzzing Stocks: Amtek Auto, Abbott India gain, while Sadbhav Engineering tanks

India Infoline News Service | Mumbai | November 28, 2016 14:39 IST

Check out the most important and latest stock news from NSE and BSE.

High angle view of two business executives working at the stock exchange
Suzlon Energy has secured a fourth consecutive order for 50.40MW wind power project from a business house. The project consists of 24 units of S95 90m tubular tower with rated capacity of 2.1 MW. Located in the district of Anantapur, Andhra Pradesh, the project is scheduled for completion in March 2017. The stock is currently trading at Rs 14.87, up by Rs 0.29 or 1.99% from its previous closing of Rs 14.58 on the BSE.

Sadbhav Engineering Ltd is currently trading at Rs 267.5, down by Rs 7.8 or 2.83% from its previous closing of Rs 275.3 on the BSE. The company has posted a net profit after tax of Rs 18.5 crore for the quarter ended September 30, 2016 as compared to Rs 27.8 crore for the quarter ended September 30, 2015. 

Abbott India Ltd is currently trading at Rs 4810, up by Rs 114.25 or 2.43% from its previous closing of Rs 4695.75 on the BSE. The company reported 23% increase in standalone net profit at Rs 75 crore for the quarter ended September 30. The company's net profit in the corresponding quarter of the previous fiscal year was Rs 61 crore.

Sagar Cements Ltd is currently trading at Rs 726.55, up by Rs 106.65 or 17.2% from its previous closing of Rs 619.9 on the BSE. The Board at its meeting held on November 28, 2016 inter-alia, fixed an issue price of Rs 800 per equity share (which includes a premium of Rs 790 per share) for the 6,11,986 equity shares of Rs 10 each of the company being issued for cash on a preferential basis, subject to receipt of further necessary approvals as may be required.

ICICI Bank Ltd is currently trading at Rs 255.1, down by Rs 4.75 or 1.83% from its previous closing of Rs 259.85 on the BSE. Around 21.3 lakh shares were traded in a single block.

Thirumalai Chemicals
reported a net profit of Rs 37 crore for the first half of financial year 2017 as against a profit of Rs 4 crore a year ago. The stock is currently trading at Rs 719.05, up by Rs 34.2 or 4.99% from its previous closing of Rs 684.85 on the BSE.

Amtek Auto Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on November 30, to consider the proposal of infusion of fresh equity by the new investors and restructuring of the Company as proposed by investors. The stock is currently trading at Rs 41.2, up by Rs 2.6 or 6.74% from its previous closing of Rs 38.6 on the BSE.

Cipla rose 1.6%. Cipla Ltd is in discussions to sell Cipla Vet, its animal health division, as per media reports. According to the report, the company hired global investment bank Rothschild to find potential buyers.

Shares of airline stocks rose on Monday as uncertainty over the deal to cut output by the Organization of the Petroleum Exporting Countries at a meeting on Wednesday pushed oil prices down. SpiceJet reported a rise of 103% in its net profit for the second quarter of 2016-17. The company's Q2 net profit stood at Rs 58.9 crore from Rs 29 crore reported in the corresponding quarter of 2015-16.

Ashok Leyland inched up 1.2%. Ashok Leyland has completed the acquisition of Nissan Motor Co. Ltd.’s stake in each of the three joint ventures formed between the two companies.

Aurobindo Pharma
is trading lower at Rs 736. Arrow Generiques SAS, the French subsidiary of Aurobindo Pharma, has signed an agreement to acquire select commercial products in France from Teva.

BEML zoomed 2.5%. The company reported standalone net loss narrowed to Rs 16.6 crore for the second quarter ended September 30, 2016, against that of Rs 24.6 crore in the corresponding quarter of previous fiscal.

Strides Shasun gained 1%. Strides Shasun’s wholly owned subsidiary Strides Arcolab International, UK has entered into an agreement with Moberg Pharma, Sweden to acquire the 'PediaCare' brand for a total consideration of $5 million plus inventory value at closing.

Hathway Cable & Datacom
slipped 2.6%. The company has reported a net loss of Rs 40 crore for the quarter under review as compared to a net loss of Rs 32 crore for the same quarter in the previous year.

The BSE Oil and Gas index is trading up 1.6% or 190 points at 11,943 as against the previous close of 11,753.

The BSE Oil and Gas index opened at and hit a high of 11,953.45 and a low of 11,705. The oil stocks are trading higher as international oil prices declined after a planned meeting today between OPEC and non-OPEC producers was canceled.

Oil rebounds from 2% losses as OPEC embarks on a last-ditch diplomatic push to reach a production cut and will meet in Vienna on Wednesday; a meeting with non-OPEC producers today was canceled after Saudi Arabia decided not to attend and suggested the oil-club doesn’t necessarily need to curb output.

Hindustan Petroleum Corporation Ltd is currently trading at Rs 479.4, up by Rs 17.2 or 3.72% from its previous closing of Rs 462.2 on the BSE. The scrip opened at Rs 464 and has touched a high and low of Rs 481.25 and Rs 462.35 respectively. So far 2129614 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 46954.05 crore.

Bharat Petroleum Corporation Ltd
 is currently trading at Rs 659.9, up by Rs 20.25 or 3.17% from its previous closing of Rs 639.65 on the BSE. The scrip opened at Rs 639.65 and has touched a high and low of Rs 663.85 and Rs 639.65 respectively. So far 1597983 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 92504.17 crore.

Indian Oil Corporation Ltd is currently trading at Rs 304, up by Rs 7.5 or 2.53% from its previous closing of Rs 296.5 on the BSE. The scrip opened at Rs 297 and has touched a high and low of Rs 306.3 and Rs 295.5 respectively. So far 1239474 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 143977.58 crore.

Oil India Ltd 
is currently trading at Rs 442.05, up by Rs 5.15 or 1.18% from its previous closing of Rs 436.9 on the BSE. The company will announce its Q2 numbers today.

Rajshree Sugars & Chemicals climbed 5.3%. The company has entered into a share purchase agreement with the prospective buyer, for the sale of the wholly-owned subsidiary Company Trident Sugars, having the sugar factory at Telangana. As per the said agreement, the prospective buyer is expected to close the sale transaction by March 31, 2017.

GPT Infraprojects advanced 1%. The company announced to bourses that it has bagged an order value of Rs 73 crore from Rail Vikas Nigam Ltd.

Uflex zoomed 5.6%. The company reported 17% rise in consolidated net profit to Rs 90 crore for the quarter ended on September 30, 2016. It had posted a net profit of Rs 77 crore for July-September quarter in the year-ago period.

State Bank of India slipped 2% on the BSE. The bank said it will raise Rs 56.81 billion by issuance of preferential shares to the central government, its majority shareholder.


***Note: This is a NSE Chart

 

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