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  5. Paytm, ITI Ltd, CEAT, Welspun Corp, Chalet Hotels, Indo Count Industries, GCPL, HUL, Star Health: Check top buzzing stocks of the day

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Paytm, ITI Ltd, CEAT, Welspun Corp, Chalet Hotels, Indo Count Industries, GCPL, HUL, Star Health: Check top buzzing stocks of the day

Upstox
By Upstox News Desk

5 min read | Updated on December 09, 2024, 13:22 IST

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SUMMARY

At 1:08 PM, the S&P BSE SENSEX was trading at 81,616.52 levels, down 93 points, or 0.11%, while the broader NIFTY50 index was trading at 24,640.80, down 37 points, or 0.15%.

Stock list

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Shares of Godrej Consumer Products (GCPL) tumbled as much as 10.81% to ₹1,102 apiece on the BSE on Monday, December 9, after the company issued a weak commentary on its business. 

Shares of Godrej Consumer Products (GCPL) tumbled as much as 10.81% to ₹1,102 apiece on the BSE on Monday, December 9, after the company issued a weak commentary on its business. 

Buzzing Stocks: The equity market was trading flat with a negative bias in the afternoon deals on Monday, December 9. 

At 1:08 PM, the S&P BSE SENSEX was trading at 81,616.52 levels, down 93 points, or 0.11%, while the broader NIFTY50 index was trading at 24,640.80, down 37 points, or 0.15%.

Here is a list of stocks that are buzzing in today's trade. 
CEAT Ltd: Shares of CEAT Ltd, one of the leading tyre manufacturers in India, jumped as much as 12.10% to hit their all-time high level of ₹3,466.40 apiece on the BSE. 

The stock price rallied as on Friday CEAT said it has entered into a definitive agreement with Michelin to acquire its Camso brand's off-highway tyres (OHT) and tracks business for about ₹225 million (about ₹1,905 crore).

The transaction, subject to regulatory approvals from relevant authorities, will include the business with revenues of around ₹213 million for CY 2023 and global ownership of the Camso brand, along with two manufacturing facilities, it said.

GCPL, HUL, and other FMCG stocks: Shares of Godrej Consumer Products (GCPL) tumbled as much as 10.81% to ₹1,102 apiece on the BSE on Monday, December 9, after the company issued a weak commentary on its business. 

The company said that the demand conditions in India have been subdued for the past few months, which is evident in FMCG market growth.

Further, GCPL added that the weather conditions have not been supportive (delayed winters in the North and cyclones in South India) to the Home Insecticides (HI) segment, contributing ~1/3rd to its standalone business.

This has impacted HI category growths in the current quarter.

Last seen, Hindustan Unilever (HUL) shares were trading 3.73% lower at ₹2,391.45 apiece on the BSE. Dabur stock was down 3.57% lower at ₹504.85, while Tata Consumer Products was trading nearly 4% lower at ₹936 on the BSE.

The BSE FMCG index was trading 1.89% lower at 20,770.71 levels.

Welspun Corp: Shares of Welspun Corp rallied as much as 4.43% to hit an all-time high of ₹824.50 apiece on the BSE on Monday, December 9. 

The stock drew heavy demand from buyers as the company, during the weekend, announced the receipt of two additional large orders in the USA, one each for HSAW and HFIW pipes, for the supply of coated pipes for natural gas pipeline projects. 

HSAW stands for Helical Submerged Arc Welding, and HFIW is an acronym for High Frequency Induction Welding.

With the addition of these two new orders, the value of the cumulative orders received by our USA plant to date in this Q3FY25 exceeds ₹7,000 crore, the company said. 

Paytm: Shares of One 97 Communications, the parent firm of Paytm, hit a 52-week high of ₹1,007 after the company said its wholly owned subsidiary company, One97 Communications Singapore Private Limited (“Paytm Singapore”), has informed the company that its board of directors at its meeting held on December 6, 2024, has approved the sale of all its stock acquisition rights in PayPay Corporation, Japan, to the SoftBank Vision Fund 2 entity for net proceeds of JPY 41.9 billion (equivalent to ₹2,364 crore). 

This transaction is expected to be completed in December 2024.

ITI Ltd: Shares of ITI Ltd climbed as much as around 14.5% to ₹367.65 apiece on the BSE. The stock has rallied around 26% in the past one week. 
Trident Ltd: The stock was trading nearly 10.51% higher at ₹38.05 on the BSE. 
Indo Count Industries: Shares of the company were trading nearly 8% higher at ₹368.25 apiece on the BSE. In September, the company said its wholly owned subsidiary Indo Count Global Inc had acquired an 81% stake in Fluvitex USA, Inc, a manufacturer of utility bedding products like pillows and quilts.
Chalet Hotels: Shares of the company were trading 8% higher at ₹967.45 apiece on the BSE. The company posted a consolidated net loss in the second quarter of the current financial year on account of higher tax expenses.
India Cements: The stock was down over 4% at ₹345.75 on the BSE. UltraTech Cement on Friday said it has received a communication from the Competition Commission of India regarding the proposed acquisition of The India Cements.
Neuland, Divi's Labs: Shares of pharmaceutical companies engaged in contract development and manufacturing fell on Monday, December 9, after the United States softened its stance on the Biosecure Act.

Divi's Laboratories, Suven Pharma, Syngene International, Neuland Labs, and Laurus Labs are among the companies affected by the recent development.

Syngene International stock declined 4.25% to ₹880.65 apiece on the NSE, with the market capitalisation at ₹35,449.42 crore. Intraday, it fell as much as 7.36%.

Shares of Neuland Laboratories, a leading API CDMO, slumped 6.46% to ₹16,458.55 per share. Suven Pharma stock was also down 0.6% to ₹1,293.1. READ MORE
Star Health and Allied Insurance Company: Shares were trading nearly 5% lower at ₹465.85 apiece on the BSE after the company announced that the Insurance Regulatory and Development Authority of India (Irdai) has issued a show cause notice on December 4, 2024, for violation of norms based on the general inspection conducted by the regulator for the period from January 31, 2022, to February 11, 2022.

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