Shares of IndiGo operator InterGlobe Aviation surged almost 2% during the morning trade as global broking firm Citi showed a positive outlook for the company.
The equity benchmark indices on Monday, February 24, tumbled over 1% amid weak global cues.
At 1 PM, the S&P BSE SENSEX crashed as much as 757.04 points, or 1.01%, to 74,554.02, while NSE's NIFTY50 index fell as much as 219.60 points, or 0.96%, to 22,576.30 levels.
Here is a list of stocks that are buzzing in today's trade.
Swiggy: The food and grocery delivery major Swiggy on Friday said it would invest up to ₹1,000 crore in one or more tranches to expand its wholly owned subsidiary 'Scootsy Logistics,' which is engaged in the supply chain and distribution business.
Shares of the company slipped as much as 3.38% to ₹348.35 apiece on the NSE in the early trade on Monday, February 24. However, the stock trimmed losses and, last seen, was trading at ₹358.50, down 0.57%.
In a regulatory filing, Swiggy informed bourses about the "investment by the company in the equity shares of Scootsy Logistics Private Limited, the wholly owned subsidiary of the company ("Scootsy"), up to an amount not exceeding ₹1,000 crore in one or more tranches, by way of subscription to rights issue up to ₹1,000 crore." Read more
IndiGo: Shares of IndiGo operator InterGlobe Aviation surged almost 2% during the morning trade as global broking firm Citi showed a positive outlook for the company.
Despite the currency headwinds, Citi remains optimistic about IndiGo’s growth prospects, citing its dominant market position and robust demand outlook, it said in a report.
At 10:30 AM, shares of InterGlobe Aviation were trading at ₹4,560 apiece on the National Stock Exchange (NSE), rising 1.09%, while the company was up 1.12% on the BSE at ₹4,559.90 per share. Read more
NTPC Green Energy: Shares of renewable energy company NTPC Green Energy declined over 7% on Monday, February 24, as the shareholder lock-in period ends.
The stock descended 7.31% to ₹97.83 apiece on the National Stock Exchange (NSE) at 9:27 am. The company's market capitalisation stands at ₹82,434.78 crore.
The three-month shareholder lock-in period ended on Monday, making up to 18.33 crore equity shares eligible for trading. Read more
Healthcare Global: Shares of the firm remained in focus on Monday after global private markets manager CVC on Sunday said it has inked a pact to sell a 54% stake in the firm to KKR for up to $400 million.
The company said it has inked definitive agreements for the sale of CVC Asia V's majority stake in Bengaluru-based Healthcare Global Enterprises (HCG) to KKR, a leading global investment firm. CVC Asia V will sell up to a 54% stake in HCG to KKR at a purchase price of ₹445 per share, it said in a statement.
During the opening bell, shares of HCG jumped 3.45% on the National Stock Exchange to trade at ₹517 per share. On BSE, the company was trading at ₹511.45, rising 2.29%.
Manappuram Finance: Shares of Manappuram Finance jumped nearly 4% on Monday, February 24, amid reports of talks between the company and American private equity major Bain Capital reaching the final stage.
According to an Economic Times report, Bain is expected to acquire a significant portion of the promoter stake in India’s second-largest gold loan provider. The agreement being worked on includes Bain Capital infusing fresh capital via a preferential allotment, as well as a secondary sale of shares by the promoters.
At 9:40 AM, Manappuram shares were trading at ₹207.32 per share, gaining 2.98% on the National Stock Exchange. On BSE, shares surged 3.21% to ₹207.3 per share.
M&M: Auto major Mahindra & Mahindra (M&M) has witnessed a significant rise in its share price on Monday, February 24. The surge is largely attributed to affirmative evaluations from prominent broking firm Jefferies, which have underscored the company's robust market performance and promising growth trajectory.
Shares of Mahindra & Mahindra rebounded in morning trade, rising nearly 2% to ₹2,712 apiece, recovering from a sharp 6% drop in the previous session. The scrip witnessed its biggest single-day fall in nearly 7 months during the last session.
As of 10.37 PM, shares of M&M are currently trading 1.01% higher at ₹2,696.20 apiece on the NSE. Read more
Wipro & HCL Tech: Shares of the two major IT firms tumbled during the day amid concerns surrounding USA's stuttering economy caused a sharp sell-off.
According to a Reuters report, US business activity tumbled to a 17-month low, indicating that businesses and consumers were becoming increasingly rattled by the Trump administration's policies. As a result, export-orientated IT stocks tanked sharply.
During the intraday trade, both the companies were the biggest laggards on the equity indices. Wipro was trading at ₹295.9 per share on the National Stock Exchange, declining 3.41%, while HCL Tech shares tanked 3.18% on the 50-share index to ₹1,646.7 apiece.
Pfizer: Shares of drugmaker Pfizer jumped 8.6% in Monday's trade on BSE, logging an intraday high at ₹4,448.35 per share. The stock gained after the company's board approved entering into a marketing and supply agreement with Mylan Pharmaceuticals.
Under the agreement, the company with Mylan Pharma will market and sell two brands, Ativan and Pacitane. The contract is for five years within the territory of India.
Bharti Airtel: Shares of telecom major Bharti Airtel slipped over 2.22% on Monday to ₹1,602.85 apiece on the NSE. The fall in shares comes despite the company’s announcement of entering into a partnership with iPhone maker Apple.
Bharti Airtel said it has entered into a strategic partnership with Apple to bring the Apple TV+ streaming services and Apple Music to Airtel customers.
About The Author
Ahana Chatterjee is a business journalist with 7 years of experience across several leading news platforms. At Upstox, she covers stock markets and corporate news.
