Stock market today: The headline indices were trading in negative territory in noon deals on Wednesday, September 25. The S&P BSE SENSEX was trading at 84,784.62, down 129 points, or 0.15%. The NSE's NIFTY50 was ruling at 25,888.75, down 52 points, or 0.2%.
Here is a list of stocks that are buzzing in trade today.
EaseMyTrip: Shares of
Easy Trip Planners (EaseMyTrip) were in a free fall on Wednesday's session after a large block deal. The stock hit its 52-week low level of ₹33.64 apiece on the BSE after reports said that shares worth ₹176.5 crore of the company changed hands in the block deal window.
Piramal Pharma:
Piramal Pharma shares were trading over 5% higher at ₹228.60 apiece on the BSE as the company outlined its ambitious roadmap at its recent analyst meeting, targeting $2 billion in revenue by CY30. The pharma company is eyeing a 25% EBITDA margin, which implies an annual growth of 12.2% in revenue and 20.3% in EBITDA.
"These goals are attainable, driven by the growing share of high-margin contract development and manufacturing organisation contracts, which are expected to benefit from operating leverage and boost return on capital employed," Jefferies said in its latest note on the company.
PB Fintech: Shares of
PB Fintech, the parent company Policybazaar, were trading around 7% lower at ₹1,715 apiece on the BSE after the company informed exchanges on Tuesday that Gopalan Srinivasan has tendered his resignation as the Independent Director of the Company, with effect from September 24, 2024.
Delta Corp: Shares were trading 5% higher as the company's board has approved demerger of its hospitality and real estate business into a newly incorporated company named Delta Penland (DPPL). The company's Hospitality and Real Estate Business engaged in providing hospitality services and development and dealing in real estate properties, including associated assets and liabilities. Its turnover was ₹4.57 crore in FY24.
Vakrangee: Shares of Vakrangee were trading over 12% higher at ₹27.37 apiece on the BSE after the company's board approved the preferential allotment of convertible warrants to the non-promoter category. The company will issue and allot up to 20,00,00,000 convertible warrants (“warrants”) on a preferential basis.
IEX: IEX shares were down nearly 5% amid reports that the government will implement market coupling by FY25.
Dabur: Shares of the FMCG company were down almost 5% after Swiss brokerage UBS listed key concerns regarding Dabur India's lofty valuations, along with a possible risk to beverage sales growth. The rising growth of cola drinks, along with increasing competition in the coconut oil space, poses a downside risk to its sales, as per reports.
IT stocks: IT stocks such as TCS, Infosys, and HCL Tech continued to trade lower in the trade.
Metal stocks: Metal stocks rallied for the second consecutive day after China's central bank on Tuesday unveiled its biggest stimulus since the pandemic to pull the economy out of its deflationary funk and back towards the government's growth target, but analysts warned more fiscal help was vital to hit these goals.
The broader-than-expected package offering more funding and interest rate cuts marks the latest attempt by policymakers to restore confidence in the world's second-largest economy after a slew of disappointing data raised concerns of a prolonged structural slowdown, Reuters reported.
Gillette India: Shares were trading 3% lower as the company has received a letter from its distributor, Procter & Gamble Bangladesh, notifying termination of the distribution agreement with the company, which will be effective December 31, 2024.
As a consequence of this termination, the company will have an impact of a proportionate drop in net sales under this agreement, it said.
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