Heard On The Street: Dealers Spot Action In PNB Housing, Axis Bank, Dr. Reddy’s, Kotak Mahindra Bank And More

NDTV Profit India has been tracking the action in the top dealing rooms of India’s financial capital, and this edition of ‘Heard On The Street’ provides you with buzzing action on stocks like PNB Housing, Axis Bank, Dr Reddy’s, Divis Lab, Kotak Mahindra Bank and JSPL.

Heard On The Street provides readers with what well-informed investors, especially HNIs, FIIs, DIIs, and mutual funds, are buying and selling in the stock market. It also tracks the latest unconfirmed/unverified chatter around stocks and/or sectors.

NDTV Profit picked up the following cues from the dealing room chatter during trade:

PNB Housing

Dealers indicate that Carlyle Group has appointed bankers to sell its stake in PNB Housing. Carlyle holds a 10.4% stake under the name of Quality Investment in the NBFC. It can be a clean-out trade as well.

Axis Bank

Recently the bank, in its board meeting, approved a fundraise of Rs 20,000 crore via equity. Dealers indicate that the bank will be launching its qualified institutional placement anytime soon.

Dr Reddy and Divis Lab

Dealers indicate that large HNIs have been taking the following positional trade – sell Dr Reddy’s and buy Divis Lab.

Kotak Mahindra Bank

The share prices of Kotak Mahindra Bank stood out in the Nifty Bank index, given that it was trading higher despite the weakness in the Nifty Bank index. However, dealers indicate there are sell flows on the domestic institutional desk at higher levels in Kotak Mahindra Bank.

JSPL

Large high-net-worth individuals have been accumulating ahead of the Q4 earnings in anticipation of a positive announcement related to mine opening.

Disclaimer: The mentioned stocks capture NDTV Profit's dealing room channel checks during trading hours. The information provided is for informational purposes. However, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, or suitability of the information. This content does not constitute financial, investment, or trading advice and should not be construed as a recommendation to buy, sell, or hold any securities.