Six Stocks In News At Noon: NTPC Green, Tata Investment, Zomato, Bharti Airtel And More
Tata Investment share price surged over 10% during early trade on Tuesday after the Tata Capital Ltd. board approved plans to float an initial public offering of shares.
The market on Tuesday snapped its five-day losing streak to trade in the green. With the market trading relatively flat around noon, NTPC Green Energy Ltd., Tata Investment Corp. and Zomato Ltd. were among few of the buzzing stocks on Tuesday.
NTPC Green Energy
The renewable energy company's share price rebounded nearly 5% on Tuesday after it fell below the listing price in the previous session. NTPC Green Energy with its parent company NTPC Ltd. has signed multiple MoUs with the Government of Madhya Pradesh during the Global Investors Summit, being held at Bhopal. The companies are set to invest over Rs 2 lakh crore in MP.
Tata Investment
Tata Investment share price surged over 10% during early trade on Tuesday after the Tata Capital Ltd. board approved plans to float an initial public offering of shares. The company has an equity interest in the highly anticipated IPO. Tata Investment's share price surged 10.23% to Rs 6,344 soon after market opened. It was trading nearly 8.17% higher by 12:00 p.m.
Zomato
Zomato stock rose as much as 3.23% during the day to Rs 229.89 apiece on NSE. It was trading 3.13% higher at Rs 222.69 apiece, compared to a 0.08% advance in the benchmark Nifty 50 as of 12:11 p.m. This comes after the company remained Bernstein's top internet pick. Zomato is playing the long game, as its focus is shifting toward growth and profitability, according to the brokerage.
Bharti Airtel
The shares of Bharti Airtel rose over 2% on Tuesday after Goldman Sachs hiked its target price to Rs 1,780 from the earlier Rs 1,700. The brokerage has however, maintained its 'buy' rating. It also said that the Ebitda estimates for Bharti's India segment are higher by up to 8%-11%.
Mahindra & Mahindra
Mahindra & Mahindra Ltd. has been one of the top contributors to the Nifty index for the second consecutive day on Tuesday. Extending the gains, Mahindra shares rose over 3.50% to Rs 2,803.95 per share. The shares were trading 3.35% higher at 12:17 p.m.
Adani Power
The shares of Adani Power rose as much as 5.38% to Rs 495.40 apiece. They pared gains to trade 4.32% higher at Rs 470.10 apiece, as of 12:19 p.m. This comes after the company received a Letter of Intent from the Resolution Professional for the acquisition of Vidarbha Industries Power Ltd. on Monday.
