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  5. Inox Green Energy, Greaves Cotton, Ola Electric, Cochin Shipyard, Adani Green: Check top buzzing stocks of the day

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Inox Green Energy, Greaves Cotton, Ola Electric, Cochin Shipyard, Adani Green: Check top buzzing stocks of the day

Upstox
By Upstox News Desk

4 min read | Updated on December 02, 2024, 13:50 IST

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SUMMARY

At 01:28 pm, the S&P BSE SENSEX was trading at 79,801.52 levels, down 1.27 points, while the broader NIFTY50 index was trading at 24,141.50, up 10 points, or 0.04%. 

Stock list

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Shares of Maruti Suzuki India were trading over 1% higher at ₹11,203.65 apiece on the BSE after November sales data.

Shares of Maruti Suzuki India were trading over 1% higher at ₹11,203.65 apiece on the BSE after November sales data.

Buzzing Stocks: The domestic stock market was trading flat in the afternoon deals on Monday, December 2. 

At 01:28 pm, the S&P BSE SENSEX was trading at 79,801.52 levels, down 1.27 points, while the broader NIFTY50 index was trading at 24,141.50, up 10 points, or 0.04%. 

Here is a list of stocks that are buzzing in today's trade. 
Inox Green Energy, Inox Wind: Shares of Inox Green Energy Services were trading 15% higher at ₹170.55 apiece on the BSE, while Inox Wind was up nearly 6.7% at ₹203.85 on the BSE. 

Shares of Inox Green Energy Services rallied as the company has completed the divestment/sale of entire equity shares of ₹10 each held by the company (along with shares held by its nominee) in its wholly-owned subsidiary, namely Nani Virani Wind Energy (NVWEPL), to IGREL Renewables.

Morepen Laboratories: The stock was up over 5% at ₹83.05 on the BSE. In October, the company said it was planning to hive off its medical devices business into a separate unlisted subsidiary in the next 12-24 months to unlock value.
Greaves Cotton: The stock was trading 1.71% higher at ₹190.05 on the BSE. The stock is in focus as the diversified engineering company announced that its subsidiary Greaves Electric Mobility (GEML) is considering an initial public offering (IPO).
Ola Electric Mobility: Shares of Ola Electric Mobility were trading 5% higher at ₹91.90 per share on the BSE. 

After a blockbuster sales figure in October due to the festive season, Ola Electric vehicle registrations dropped by 33% in November.

According to Vahan portal data, the number of registrations of Ola Electric vehicles in November fell by 33% on a month-on-month (MoM) basis to 27,746 units. In October last year, this figure was more than 40,000 units.

Adani Green Energy: Shares of Adani Green Energy climbed 9% during Monday's morning trading session after Adani Group's chairman, Gautam Adani, said that his conglomerate was committed to compliance amid recent allegations and his indictment in the US.

He also said that "every attack makes us (Adani Group) stronger."

The stock of Adani Green Energy Ltd surged 9% to ₹1,445 on the BSE.

Waaree Energies: The stock was trading 2.62% higher at ₹2,736.40 on the BSE. The company, which listed its shares recently, reported a 17% rise in consolidated net profit at ₹375.6 crore in the July-September quarter, helped by higher income.

It had posted a ₹320.1 crore profit for the July-September period of the preceding 2023-24 fiscal year.

Maruti Suzuki: Shares of Maruti Suzuki India were trading over 1% higher at ₹11,203.65 apiece on the BSE after November sales data. 

The company's domestic car sales grew 8.1% to 1.53 lakh units compared with 1.41 lakh units a year ago. Total sales, including exports, stood at 1.81 lakh units, up 10.4% compared to 1.64 lakh units in November 2023.

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Cochin Shipyard: The stock was locked in the 5% upper circuit band of ₹1,655.75 on the BSE. The stock rallied as the company signed a contract with the Ministry of Defence (MoD), Government of India, for Short Refit and Dry Docking of a Large Indian Naval Vessel.

The estimated contract value is above ₹1,000 crore, and the estimated duration for the project is around 5 months. 

RBL Bank, Bajaj Finance: RBL Bank shares were trading lower as RBL Bank and Bajaj Finance on Friday announced an end to their co-branded credit card, and the bank stopped issuing any such fresh cards.

Over 34 lakh users of the co-branded credit cards will continue to be served by the private sector lender and enjoy all the benefits as listed earlier, as per an official statement.

RBL Bank said it has reduced the dependence on the origination of co-brand cards with BFL (Bajaj Finance Ltd) over the last one year from 126,000 in September 2023 to 37,000 cards in September 2024.

Bajaj Finance shares were trading over 0.5% higher at ₹6,614 on the BSE. 

Dixon Technologies: Shares of Dixon Technologies rallied as much as 6.4% to hit an all-time high of ₹16,819.45 apiece on the BSE on Monday, December 2. 

The stock price jumped as the company said in its filing to exchanges that Padget Electronics, a wholly owned subsidiary of Dixon Technologies (India) Limited (“Dixon”), together with Compal, will launch the mass production of Google Pixel (smartphones) for Compal’s designated customer, ‘Google Information Services India Private Limited.’

Cement stocks: Shree Cement, UltraTech Cement, Sagar Cements, Ambuja Cements, and other stocks were trading with healthy gains (up to a 7% rally) in the trade.

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