Heard On The Street: Dealers Spot Action In IIFL Finance, Zydus Life, Lupin And Select IT Stocks
The markets have witnessed muted trade on Tuesday with the Sensex and Nifty erasing day's losses to trade close to their intraday highs 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 IIFL Finance, Zydus Life, Lupin and select IT names.
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 sectors.
NDTV Profit picked up the following cues from the dealing room chatter during trade:
IT Stocks
Though today the Nifty IT index is the only sectoral index in red, it was gaining for the last four trading sessions. Despite the weakness today, dealers indicate that delivery-based buying continues in select names like Coforge, Tech Mahindra and Persistent Systems.
IIFL Finance
Share prices jumped as much as 6% in trade today. Dealers indicate that there were strong buy flows on the domestic institutional investor desk. A leading mutual fund has been a buyer in this counter today.
Zydus Life and Lupin
Dealers indicate that positional buy calls were given for both these pharma names in multiple dealing rooms. The worst seems to be priced in for the companies post the recent decline in share prices which were triggered by the adverse ruling in the US court.
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.
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