Six Stocks In News At Noon: Cigniti Tech, Go Digit, L&T, Paras Defence And More

The NSE Nifty 50 and BSE Sensex erased morning losses. The Indices were trading 0.47% and 0.42% higher, respectively, as of 12:34 p.m.

Below are the shares which were in news around afternoon.

Cigniti Technologies Ltd. saw its share price soar 14% in early trade on Thursday after its consolidated net profit during the third quarter rose 20% sequentially. The company reported a bottom-line of Rs 63.6 crore in the October-December period, compared to Rs 52.9 crore in the preceding quarter.

Cigniti Tech share price advanced 14.35% in trade so far to Rs 1,703 apiece.

Shares of Go Digit General Insurance Ltd. rose more than 8% on Thursday, after the company's net profit nearly tripled to Rs 118 crore for the quarter ended December.

The insurer's total revenue in the third quarter rose over 7% to Rs 2,372 crore, in comparison to Rs 2,214 crore. Go Digit's gross written premium rose 10.2% to Rs 2,677 crore from the earlier Rs 2,428 crore.

Larsen & Toubro Ltd.'s share price declined in Thursday's session after news reports said that the Ministry of Defence rejected its bid for a tender to acquire six submarines due to non-compliance. Larsen & Toubro's share price declined 1.64% to Rs 3,460.60 apiece.

Shares of Paras Defence & Space Technologies Ltd. surged over 9% on Thursday, after the company signed a Memorandum of Understanding with the Maharashtra government.

Paras Defence stock rose as much as 9.35% before paring gains to trade 5.93% higher at Rs 1,093.75 apiece as of 12:25 p.m.

Persistent Systems Ltd.'s share price recorded its biggest jump since October, after its third quarter result, announced on Wednesday, led various brokerages to either upgrade the target price or rating for the stock. The scrip rose as much as 8.55% to Rs 6,170 apiece.

Zensar Technologies Ltd.'s share price hit a lifetime high after Nuvama maintained a 'buy' rating on the stock, with a target price of Rs 2,000, indicating an upside of 16%. Notably the share price breached the target price set by Nuvama, as it was trading at Rs 2,033 in early market hours.