Biggest gainers & losers of the day: New India Assurance rallies; construction stocks bleed

New Delhi: Domestic equity markets managed to close higher on Monday, thanks to strong buying in defensive stocks like pharma and IT. Positive commentary from US Federal Reserve officials and positive global cues supported the sentiments.

The 30-share pack Sensex rose 226.47 points or 0.41 per cent to close at 55,555.79. The index traded in a range of about 540 points. Its broader peer NSE Nifty climbed 45.95 points or 0.28 per cent to 16,496.45. Selling in the broader market continued for another day.

Among stock-specific action, cement maker Nuvoco Vistas staged a strong comeback after a poor listing. Smaller construction and engineering stocks were the most hammered ones.

Here is a look at some of the biggest movers and shakers of Monday’s session:


New India Assurance Company: The general insurer gained 19 per cent to Rs 161 amidst buzz of privatisation. The volume of the counter jumped about 17 times compared to the average traded volume.

BLS International Services: The visa service provider soared 18 per cent to Rs 169.35 as international travel opened up and travel restrictions were lifted by some of the major tourist nations.

Nuvoco Vistas: The latest debutant of Dalal Street listed at a steep discount of 17 per cent to Rs 471 on Monday. However, it staged a strong comeback of 13 per cent to Rs 531.30. The scrip ended 7 per cent lower over its issue price of Rs 570.

Arvind Fashions: The apparels manufacturer raised Rs 439 crore from the investors after which the counter was much in demand. It settled at Rs 261.80, down 9 per cent.


Capacite Infraprojects: The construction and engineering stock hit lower circuit after India Ratings & Research downgraded the long-term rating of the company. It tanked 20 per cent to Rs 158.50.

Ujjivan Financial Services: The reverse merger bound NBFC shed 14 per cent to Rs 151.95.

Sadbhav Engineering: The smallcap counter has been in a correction mode ever since the recent sale of the Maharashtra Border Check Post project at 1.2 times price to book value, which depicts the company’s desperation. It settled 13 per cent lower at Rs 48.25.

Dalmia Bharat Sugar and Industries: The sugar producer fell 10 per cent to Rs 382.15 after it informed the bourses that the company is required to deduct tax at source (TDS) from the dividend paid to the shareholders at the applicable rates. The dividend paid on or after 1 April 2020 is taxable in the hands of shareholders.

Angel Broking: The newly-listed broker hit a lower circuit of 10 per cent to Rs 1,063.15 as the investors booked profits in the company amidst meltdown in smallcaps following a sharp rally in the counter after listing.

Source link

Share Market Today