Infibeam, Indus Towers, Suzlon Energy, NHPC, JP Power shares see surge in volumes ahead of Budget 2024

Shares of Infibeam Avenues Ltd jumped over 11 per cent in Thursday's trade and topped the NSE volume chart. Indus Towers Ltd, Jaiprakash Power Ventures Ltd, Suzlon Energy Ltd, NHPC Ltd and Vakrangee Ltd were some other stocks that saw huge volumes in Thursday's trading session.

IREDA Ltd, IRFC, Maruti Suzuki India Ltd, HUDCO, HDFC Bank Ltd and NBCC Ltd led the turnover chart, data on most-active stocks suggest.

Infibeam Avenues saw 13,53,44,389 shares worth Rs 527 crore changing hands. The stock climbed 11.54 per cent to Rs 38.80. Indus Towers shares were trading 0.52 per cent lower at Rs 220.80, as Rs 2,817 crore worth 13,03,90,240 shares changed hands on the counter.

As per a media report, Indus Tower was set to witness a 7 per cent equity sale by long-term holders, KKR and CPP. “If no strategic investor steps in the block”, there's a high probability of an increase in free float, Nuvama said.

"The stock faced exclusion from MSCI in the May '23 review. Preliminary calculations by Nuvama Alternative Research suggest a potential re-entry around 210/215 levels in the May 2024 review. Note that the cutoff levels are dynamic and change daily; the official cutoff will be in the latter half of April. The anticipated inflow could surpass USD 140mn. We will keep you posted on all the developments," Nuvama said.

JP Power fell 1.08 per cent to Rs 18.35. A total of 10,61,86,815 JP Power shares worth Rs 199 crore changed hands. Suzlon Energy gained 4.9 per cent to Rs 48.20, as 10,31,89,747 company shares worth Rs 494 crore changed hands.

NHPC Ltd shares added 2.91 per cent to Rs 93.60. A total 6,72,52,566 NHPC shares worth Rs 621 crore changed hands so far. Vakrangee shares fell 1.33 per cent to Rs 29.75, as 6,50,62,698 shares worth Rs 198 crore changed hands. Vodafone Idea Ltd, IRFC, NBCC, YES Bank, IREDA and HCC were some other stocks seeing high volumes today.

In turnover terms, Indus Towers topped the chart. It was followed by Maruti Suzuki India, which saw a turnover of Rs 1,093 crore.

"Maruti Suzuki (MSIL)'s 3QFY24 performance was in line. MSIL's Ebitda margin expanded 200 bps YoY to 11.7 per cent, despite higher discounts during the quarter. While the PV growth outlook appears to moderate in FY25E, the market share gains through SUV launches and growth in CNG penetration should augur well for the company," Motilal Oswal said.

IREDA witnessed Rs 1,024 crore in turnover. HUDCO, IRFC, HDFC Bank, Reliance Industries, NBCC and NHPC also saw high turnovers.

Also read: IRFC & RailTel: What Akshay Bhagwat of JM Financial says on these 2 railway stocks ahead of Budget 2024