Six Stocks In News At Noon: Cipla To Shriram Finance — Top Gainers And Losers

In Tuesday’s trading session, the market saw a mix of movements, with Cipla Ltd., ITC Ltd., and Adani Ports and Special Economic Zone Ltd. standing out as the top gainers by midday. Shriram Finance Ltd., Bharti Airtel Ltd., and Grasim Industries Ltd. led the laggards. Here’s a look at the stocks making headlines:

Cipla, one of India’s leading pharmaceutical companies, saw its stock rise by 0.91% today, following an upgrade by Kotak Securities. The brokerage firm raised its rating from “Add” to “Buy” based on the company’s strong fundamentals and positive outlook in the healthcare space.

Cipla has been in the spotlight for its diversified product portfolio and significant presence in both the domestic and international markets. The stock has risen 20.58% in past one year.

ITC, the diversified conglomerate with major interests in FMCG, hotels, paperboards, and packaging, gained 0.63% today after announcing the much-anticipated demerger date. The company revealed that it will be demerging its hotel business into a separate entity, which has generated positive sentiment in the market.

Investors are hopeful that this move will unlock value by allowing the hotel business to focus more on growth while the other verticals operate independently.

Adani Ports and Special Economic Zone saw a gain of 0.58% on Tuesday after announcing a major milestone at its flagship Mundra Port. The port handled 396 vessels, marking a significant achievement for the company.

Adani Ports, India’s largest private port operator, continues to expand its capacity and improve operational efficiencies.

Shriram Finance Ltd., a prominent player in India’s financial services sector, saw its stock drop by 3.92% today. Despite the drop, the stock remains up by a robust 47.43% over the past year.

Shriram Finance, which provides a wide range of financial products including loans, insurance, and investment options, has been benefiting from strong demand for its services and a recovery in the broader economy.

Telecom giant Bharti Airtel saw its stock continue its downward trajectory, dropping 3.1% today. This decline comes after the Department of Telecommunications imposed a Rs 79,000 crore penalty on Bharti Airtel over certain regulatory non-compliance issues over the weekend. The stock however has gained 63.24% over the past year.

Grasim Industries, part of the Aditya Birla Group and one of India’s largest conglomerates with interests in cement, textiles, and chemicals, saw a drop of 2.39% on Tuesday.

The stock has been under pressure in recent trading sessions amid a broader market correction. The stock has risen over 25% over the past year.