IOB, YES Bank, JP Power, SJVN, UCO Bank shares see high volumes; HDFC Bank leads turnover chart

Shares of Indian Overseas Bank Ltd, Jaiprakash Power Ventures (JP Power), YES Bank, Vodafone Idea, Suzlon Energy was high volumes in Wednesday's trade amid weakness in the market. HDFC Bank, ICICI Bank, Reliance Industries (RIL) and State Bank of India (SBI) led the turnover chart on NSE, data showed.

State-run lender IOB topped the volume chart on NSE. The stock climbed 3.31 per cent to Rs 45.30, as 20,37,39,453 shares worth Rs 950 crore changed hands on the counter by 1 pm. JP Power shares fell 2.46 per cent to Rs 9.90. A total of 13,38,39,714 JP Power shares worth Rs 136 crore changed hands so far.

YES Bank declined 1.39 per cent to Rs 17.75, as 12,64,62,489 shares worth Rs 227 crore changed hands on the counter. Vodafone Idea shares slipped 3.64 per cent to Rs 10.60, as 12,25,02,985 shares worth Rs 134 crore changed hands. Sulzon Energy was down 0.8 per cent at Rs 25.65. A total of 11,21,09,157 shares worth Rs 290 crore changes hands on the counter.

South Indian Bank, RattanIndia Power, UCO Bank, Hathway Cable, Central Bank of India, Bank of Maharashtra, and IFCI saw heavy volumes in Thursday's trade so far. Among these stocks, except for Hathway Cable (up 10 per cent), rest all stocks were trading in the red.

In terms of turnover terms, HDFC Bank saw a turnover of Rs 3,808 crore. Analysts have turned cautious over HDFC Bank's near-term growth trajectory following its analyst meet where it shared details on the merged entity. That said, analysts largely stood positive on the stock from a long-term perspective.

"We retain BUY with a target of Rs 2,100. Further, given Kotak Mahindra Bank's undergoing management transition (typically leading to business/valuation softness as seen in HDFC Bank), HDFC Bank with a stable management, better return profile and valuation offers a good bet from a medium-long term view. The long-awaited listing of HDB Fin should be another stock catalyst going ahead," it said.

ICICI Bank saw Rs 1,067 crore in turnover. Reliance Industries witnessed a turnover of Rs 971 crore while SBI logged a turnover of Rs 879 crore. SJVN, REC, Axis Bank, Jio Financial Services and Adani Power were other stocks seeing high turnovers for the day.

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