Stocks in news: Essar Oil, Tilaknagar Industries and more

The domestic markets opened on a nervous note on Monday on the back of concerns about 'Grexit' after the country rejected the bailout package offered by creditors in a landmark referendum on Sunday. However, the BSE Sensex and Nifty recovered in the last hour of trade, managing to close over 0.40 per cent higher at 28,208.76 and 8,522.15, respectively.

Among the Nifty stocks, Cipla, Dr Reddy's Labs, BPCL, Grasim and Asian Paints stood the top performers with gains of 3.67 per cent, 3.65 per cent, 3.34 per cent, 1.86 per cent and 1.72 per cent, respectively.
"The fall in global markets is a display of its concern over Greece's 'no' to the bailout package conditions. There is still hope that the next set of talks will move in the right direction towards finalizing an agreement. At present, funds are moving towards less risky assets. In the same direction Indian bonds have shown a mild impact. But Indian equity market continues to outperform despite increased global risks in the last couple of weeks. The likely increase in government spending, possible rate cut and fair numbers for Q1FY16 are providing hope for Indian markets," Vinod Nair, head-fundamental research, Geojit BNP Paribas Financial Services, said.

Here are some stocks that made buzz through the day:

 

• Essar Oil: The refiner's plans to delist its shares was approved by the National Stock Exchange late last week, sending Essar shares up as much as 19.8 per cent on Monday. The stock closed 18.44 per cent higher at Rs 175 on NSE.
• VA Tech Wabag: The company's shares gained over 1 per cent after it's JV with Belhasa Projects won an order valued at over Rs 580 crore in the water and waste-water treatment space in Bahrain. The scrip closed at Rs 800.30.
• Tilaknagar Industries: Shares of the company hit upper circuit on reports that Kishore Chhabria-controlled Allied Blenders & Distillers has entered the final round of negotiations to acquire a controlling stake in the company. Shares closed 19.77 per cent higher at Rs 21.20.
• Kotak Mahindra Bank: Shares of the lender jumped 1.20 per cent to Rs 1,446 after the Foreign Investment Promotion Board last week cleared a proposal to raise foreign investment limit in the bank to 55 per cent.
• Deepak Spinners: The Chandigarh-based textile firm has voluntarily delisted from the Calcutta Stock Exchange, effective July 3. Shares of the company closed 5.83 per cent higher at Rs 58.05.

(With inputs from agencies)