Six Stocks In News At Noon: L&T, Waaree Energies, Laxmi Dental Among Others

The Sensex was below the 78,000 mark and Nifty was down over 0.25% at noon on Wednesday. The major drag in the Nifty 50 was accounted for by Tech Mahindra and Cipla, which were 2.10% and 1.94% down respectively.

The top gainer in trade so far was IndusInd Bank Ltd., recording gains of about 3.5%, also followed by Trent Ltd. trading 2.67% higher.

Here are the six stocks that are buzzing on account of analyst takes, order wins, coverage initiations, corporate actions and more.

L&T won its largest order worth over Rs 15,000 crore from QatarEnergy LNG. The infrastructure and construction major will undertake engineering, procurement, fabrication, installation, and commissioning of two offshore compression complexes.

The company's board also gave its nod for a Rs 12,000-crore fundraise plan on Monday. Managerial appointments made last week have received hopeful commentary from analysts.

HSBC noted that the strength of opportunities from the Middle East market and L&T’s scale-up of this business continues to surprise. The scrip rose over 0.78%.

Waaree Renewable Technologies Ltd. rose nearly 6% in trade after it received a Letter of Award for a project worth Rs 232.30 crore.

The project includes execution of Engineering, Procurement and Construction work for ground mount solar power projects including operation and maintenance of 170 MW AC/ 255 MW DC capacity turnkey basis.

Laxmi Dental shares rose over 5% after Nuvama initiated coverage with a 'buy' rating, citing strong growth potential.

The company is poised to capture a meaningful share of the pie, given its wide portfolio and scale, aided by tailwinds such as preference for aesthetics, digitalisation and rising income, Nuvama said.

Siemens shares rose nearly 8% after Jefferies gave the counter a 'buy' rating, projecting a significant 56% upside with a price target of Rs 7,215.

Siemens will see margin expansion driven by operating leverage as revenues rise due to increased spending in transmission and distribution, decarbonisation, automation, and digitalisation, the brokerage said.

NCC Ltd.'s share price rose nearly 7% after it secured two advance work orders worth Rs 10,805 crore from Bharat Sanchar Nigam Ltd.

The orders are for design, supply, construction, installation, upgradation, operation and maintenance for the middle-mile network of BharatNet in Uttarakhand and Madhya Pradesh.

AU Small Finance Bank rose as much as 4% in trade so far and the scrip is trading at 575 apiece. Trading over 3% higher on the NSE, the gain is against a 0.20% decline in the Nifty 50.