Six Stocks In News At Noon: Kotak Mahindra Bank, DLF, Mazagon Dock And More
Shares of TVS Holdings, Power Mech and GAIL were also buzzing in trade.
Several stocks including Kotak Mahindra Bank and DLF were making headlines on Monday afternoon, driven by various corporate developments and market reactions, as both Sensex and Nifty 50 were trading in the green.
The NSE Nifty 50 rose as much as 1.14%, while BSE Sensex was up 1.17% as of 12:00 p.m.
These stocks were contributing to changes in the benchmark indices:
Kotak Mahindra Bank
Share price of Kotak Mahindra Bank Ltd. rose 4.8%, reaching over a three-year high on Monday as trading volumes surged. The scrip rose to Rs 2,178.5 apiece.
The scrip's last recorded peak was on Oct 27, 2021 when the stock had surged to Rs 2,190.
TVS Holdings
TVS Holdings' share price rose by 3.6% after the company's board declared an interim dividend of Rs 93 per share.
The company has set a record date of March 28. The dividend payment will be made within a period of 30 days from the declaration of interim dividend.
The stock went above its 50-day daily moving average of Rs 8,940.22.
DLF
DLF Ltd.'s share advanced 2% intraday to Rs 710 apiece after multiple brokerages came out with their observations that are largely positive.
The company's valuable land bank with more than 20 years of sales potential, strong balance sheet and good pipeline of growth in rental income and overall cash generation have analysts upbeat on the realtor.
GAIL India
GAIL India share price jumped 6.5% to nearly a three-month high of Rs 186.4 apiece after a government body proposed regulatory changes on transmission pipeline tariffs and zonal rules.
Analysts said regulatory changes could lower operating costs for city gas distribution companies and allow higher tariffs for producers.
Power Mech Projects
The shares of Power Mech Projects Ltd. rose to over two-month high on Monday after the company secured a contract worth Rs 579 crore from Bharat Heavy Electricals Ltd. The order is for civil structural and architectural works for the 2x800 MW DVC Koderma (KTPS) Phase-II in Jharkhand.
The scrip jumped 17% to Rs 2,547, the highest since mid-January.
Mazagon Dock
Shares of Mazagon Dock Shipbuilders Ltd. surged 4.64% on Monday as the scrip traded at Rs 2,711.65, amid a broader rally in defence stocks.
The scrip has risen as much 186.75% in past 12 months.
