Heard On The Street: Dealers Spot Action In IndusInd Bank, Cummins, Nykaa, United Spirits and VIP Industries

The Indian equity benchmark erased opening gains and traded lower, with the Sensex falling 0.2% and the Nifty declining 0.3% at the time of publishing. 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 IndusInd Bank, Cummins, Nykaa, United Spirits, and VIP Industries.

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:

IndusInd Bank and Cummins

Dealers indicate that few large, high-net-worth individuals have been accumulating these counters at lower levels. The street is anticipating a fundraise announcement soon from IndusInd Bank, while when it comes to Cummins, smart investors do not expect much of a negative impact from the parent company's commentary.

Nykaa

There have been buy flows on the domestic institutional investor desk today. Dealers indicate mutual funds have been buying into FSN E-commerce – parent company of Nykaa.

United Spirits

Dealers indicate buying action on the foreign institutional desk in United Spirits.

M&M and TCS

A large foreign institutional investor has been a seller on both these counters at higher levels.

VIP Industries

Multiple dealer checks indicate inventory issues and failure in the luggage manufacturer's pricing strategy owing to increased competitive intensity.

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.