Six Stocks In News At Noon: Bharti Airtel, IndusInd, SEPC, Kaynes Tech And More
A wrap of the most buzzing stocks of Wednesday--from IndusInd Bank and Bharti Airtel to SEPC.
India's benchmark indices gave up early gains to trade lower by midday on Wednesday. The NSE Nifty 50 and BSE Sensex were trading 0.6% lower, below 22,400 and 73,400, respectively.
Some of the stocks buzzing during the session are Bharti Airtel Ltd., IndusInd Bank Ltd., SEPC Ltd., Kaynes Technology Ltd., among others.
Here's a wrap on them:
Bharti Airtel
Bharti Airtel stock soared as high as 3.23% in early trade after the telecom operator announced a partnership with Elon Musk's satellite internet provider Starlink.
However, the mood soon flipped and by noon, the share price was trading 1.1% lower.
Infosys
Shares of Infosys Ltd. fell about 5.5% intraday, amid a broader downturn in IT stocks over recession fears in the US economy due to President Donald Trump's tariff implementation.
The Nifty IT fell into bear market territory, with the index falling 21.67% from the record high it made in December.
The stock was the top dragger of the Nifty 50 at midday.
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SEPC
Among the top gainers in stock market today, SEPC surged 15% after the company secured a mega deal in Saudi Arabia.
SEPC has bid for infrastructure works in three zones of Jeddah North, Phase 1A for about SAR 893 million or nearly Rs 2,200 crore. Based on the signing of the framework agreement, orders can be expected for a minimum of one zone, out of the three.
Kaynes Tech
A SEBI show cause notice to Managing Director Ramesh Kunhikannan alleging violations of insider trading rules spooked investors, with Kaynes Tech shares falling by over 9%.
The stock managed to pare losses.
IndusInd Bank
Battered for five consecutive days, IndusInd Bank stock managed to claw back as investors bought shares after a 33% drop over the past week.
Trading volume surged to 19 times its 30-day average.
JSW Steel
JSW Steel Ltd. share price took a hit after, among all metal stocks, after US President Donald Trump's 25% tariffs on aluminum and steel took effect, without any exemption. The move will impact prices in the international market.
Trump pressed on metal tariffs despite US stakeholders suggesting otherwise.
