Dealing Room Buzz: REC, Jindal Stainless, Shree Cement, BEL, Updater Services, Jio Finance

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 REC, Jindal Stainless, Shree Cement, BEL, Updater Services, and Jio Finance.

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:

REC

There is buy flow on the institutional desk as dealers indicate that selling is most likely over the counter, valuations are cheap, and earnings growth is expected to be stable, aided by recoveries.

Jindal Stainless and Shree Cement

Dealers indicate that large high-net-worth individuals are taking a pair trade—they are buying Jindal Stainless and selling Shree Cement ahead of earnings.

BEL

Defence stocks are largely seeing profit booking today, but dealers indicate that there are buy flows at lower levels seen in BEL on expectations of strong commentary.

Updater Services

Dealers indicate there are buy flows on the domestic institutional investor desk in trade today.

Jio Finance

The company has a board meeting on July 30 to consider fundraising. Dealers indicate that the promoter family is likely to infuse funds as they look to increase their stake by 4-5%. The fundraisingcould be for around Rs 10000 crore at a price range of Rs 320-325 per share. Post-fundraise, the promoters stake will be nearly 51%.

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.