Benchmark indices Nifty, Sensex were trading in red in afternoon deals. HCL Technologies, HDFC Life, PowerGrid, Bajaj Auto and Tech Mahindra were the top Nifty gainers, while Bajaj Finance, Bajaj Finserv, M&M, Ultratech Cement and IndusInd Bank were the losers. Check the buzzing stocks of the day
Shares of IIFL Securities nosedived over 19% in early trade to an intraday low of Rs 57.50 after SEBI banned its stockbroking unit from signing new clients for two years. The brokerage was found violating the market regulator's norms by mixing clients' funds with proprietary funds, using credit-balance client accounts to settle obligations of debit-balance client accounts, and using credit-balance client accounts to settle proprietary-trade obligations
Timken India shares tanked 12% to hit an intraday low of Rs 3,134 on NSE in early trade after around 84.5 lakh shares, representing 11% equity changed hands on the exchanges. Timken Singapore Pte Ltd was expected to offload 63 lakh equity shares, or an 8.4% stake in the company through block deals today
Concor shares tanked 5% after Kotak downgraded stock to 'sell' from ‘reduce’. Even as the brokerage firm has kept the target price unchanged at Rs 610, it implies a further downside from today’s low of Rs 631.05. “Our assessment of Concor’s pricing suggests weakness in margin and a change in pricing strategy after a period of four years,” it said
Rail Vikas Nigam Limited shares tanked almost 3% in early trade to an intraday low of Rs 118 on NSE after its joint venture deal with Russia's CJSC Transmashholding (TMH) to manufacture and maintain 120 Vande Bharat trains reportedly broke down
Shares of Bharat Agri Fert & Realty Ltd jumped 9% to Rs 135 on NSE after the company informed that it got the sanction of development from Thane Municipal Corporation for the construction project Shiv Sai Paradise, Phase 11, Majiwada for G tower - Basement + Ground + 1st to 6th Parking Floor + 7th to 31st Floor of 2/3 BHK homes
Shares of HDFC Asset Management Company (HDFC AMC) surged 9% today to an intraday high of Rs 1,986 as Abrdn Investment Management. BofA Securities was the broker of the deal
Shares of Subros were locked in the 20% upper circuit at Rs 424.10 after Union Road Transport Minister Nitin Gadkari said AC cabins for trucks will soon be made mandatory. Subros manufactures compressors, condensers, heat exchangers and all connecting elements required to complete AC loops and caters to all segments, including buses, trucks, refrigeration transport, off-roaders, and railways
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