Tata Chemicals, Siemens Energy, Tata Investment Corporation shares surge amid spike in volumes

The Indian equity benchmarks extended losses in noon deals on Friday, August 7, as sentiment turned negative tracking a spike in crude oil and weak closing of US markets overnight. The SENSEX fell as much as 503 points and NIFTY50 index touched an intraday low of 24,529 dragged down by losses in index heavyweights like ICICI Bank, Bajaj Finance, HDFC Bank, Bajaj Finserv, Bharti Airtel and Kotak Mahindra Bank.

As of 12:03 pm, the SENSEX was down 433 points at 78,512 and NIFTY50 index dropped 83 points to 24,553.

Tata Investment Corporation

Shares of the Tata Group-backed investment company rose as much as 7% to hit an intraday high of ₹713 amid spike in trading activity.

Trading volumes on the National Stock Exchange (NSE) jumped by 12.3 times to 21.79 lakh shares compared with an average volume of 1.76 lakh shares.

As many as 1.3 lakh shares changed hands on the BSE compared with an average of 21,000 shares traded daily in the past two weeks.

Tata Chemicals

Shares of the chemical maker advanced as much as 5.8% to hit an intraday high of ₹701.75 amid spike in trading activity.

Trading volume on the NSE jumped by 6.5 times to 24 lakh shares compared with an average of 3.7 lakh shares.

As many as 1.52 lakh shares changed hands on the BSE compared with an average of 27,000 shares traded daily in the past two weeks.

Siemens Energy

Shares of the heavy electrical equipment maker, jumped as much as 14%, its biggest single day move on record, to hit an intraday high of ₹3,718 on the NSE.

Its revenue from operations advanced 39% to ₹2,486 crore from ₹1,785 crore in the year-ago period.

Trading volume in the stock jumped by 6.3 times to 26.42 lakh shares compared with an average of 4.2 lakh shares.

As many as 4.24 lakh shares changed hands on the BSE compared with an average of 24,000 shares traded daily in the past two weeks.

PTC Industries

Shares of the castings and forgings company rose as much as 6.33% to touch an intraday high of ₹19,395 after the company said that its subsidiary Aerolloy Technologies signed an agreement with Airbus for the development, production and supply of Titanium castings for Airbus aircraft programmes.

The agreement relates to Titanium casting requirements for the A320neo, A330neo and A350 programmes, representing some of the world’s most important commercial aircraft platforms, PTC Industries said.

Trading volume in the stock jumped by 3.1 times to 35,066 shares compared with an average of 11,183 shares.

Travel Food Services

Shares of the quick service restaurants operator jumped as much as 10% to hit a fresh 52-week high of ₹1,465 amid spike in trading activity.

Trading volume jumped 2.9 times to 1.18 lakh shares compared with an average volume of 40,702 shares.

A total of 24,000 shares changed hands on the BSE compared with an average of 1,933 shares traded daily in the past two weeks.