Several key stocks are making headlines today due to various market-moving events. Here's a look at the latest developments for Adani Power, ITC, Vedanta, UPL, Jupiter Wagons, and Aarti Industries.
Adani Power
Adani Power Ltd. received a coverage initiation from Jefferies, which sees a 30% potential upside for the stock, citing increasing capacity and recovery in power demand. Adani Power's share price rose 0.28% to Rs 515.7 apiece today. However, it pared gains to trade nearly 3% lower, in line with the declining market on Monday, as the benchmark Nifty 50 was trading 0.80% lower
ITC
ITC Ltd. received bullish calls from brokerages, which expect the company to benefit from a stable taxation outlook for cigarettes in the medium term. Analysts also highlighted ITC's strong business fundamentals, which are likely to support its growth in the coming quarters. However, the stock was down nearly 2%, in line with the overall market decline on Monday.
Vedanta
Vedanta shares fell 6.8% to a five-month low as the Nifty Metal index declined. The drop in metal stocks followed the imposition of tariffs on China, Canada, and Mexico by US President Donald Trump, raising concerns about a potential trade war that could impact global economic growth.
UPL
UPL Ltd.'s shares continued to rise after the Union Budget, which provided a boost to the agriculture sector. The momentum was also supported by the company's third-quarter earnings, which beat estimates. UPL's share price rose as much as 5.43% during the day to Rs 636.80 apiece on the NSE.
Jupiter Wagons
Jupiter Wagons, along with other railway stocks, declined for the second day in a row on Monday. The Union Budget 2025 kept spending levels unchanged, dampening growth prospects for sectoral players. Jupiter Wagons was down nearly 8%.
Aarti Industries
Aarti Industries witnessed a significant decline in its share price following the release of its third-quarter earnings report. The company's share price dropped by 6.78% in early trade on Monday, reflecting investor concerns over the disappointing financial performance. For the third quarter of the fiscal year, Aarti Industries reported a revenue of Rs 1,840 crore, marking a 6.2% increase compared to Rs 1,732 crore in the same period last year.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.