Six Stocks In News At Noon: SBI, Varun Beverages, Titan, Inox Green
Indian markets opened lower to extend declines on Tuesday. With Nifty falling below 22,000 and Sensex down to 73,000, State Bank of India, Varun Beverages Ltd. and Titan Co. were among few of the buzzing stocks around midday.
SBI
Shares of SBI rose over 3% on Tuesday after Citi gave it a double upgrade, changing the rating from 'sell' to 'buy'. The upgrade is also coupled with a hike in target price from Rs 720 to Rs 830, broadly based on the sharper net interest margin focus.
Varun Beverages
Varun Beverages saw its share price rise over 3% on Tuesday, as CLSA upgraded the stock's rating to 'high conviction outperform' from 'outperform', noticing its attractive risk-reward ratio. CLSA also hiked the target price to Rs 802 from Rs 770, implying a 70% upside potential. It was trading nearly 2.35% higher at 12:16 p.m.
Titan
Titan shares fell over 2% on Tuesday. The stock was trading 1.76% lower at Rs 3,027.65 apiece, compared to a 0.21% decline in the benchmark Nifty 50 as of 12:21 p.m.
Inox Green
Shares of Inox Green rose after Crisil Ratings Ltd. revised its outlook on the company's long-term bank facilities from stable to positive. The stock rose 7.57% intraday and were trading 4.92% up at Rs 121.24 per share as of 12:23 p.m.
Swiggy
Swiggy Ltd. rose nearly 7% on Tuesday and was trading 4.43% higher at Rs 340.75 per share as of 12:24 p.m.
ASK Automotive
The shares of ASK Automotive Ltd. rose as much as 4.99% to Rs 357.35 apiece to be locked in upper circuit. This comes after the company entered into technical assistance and license agreement for cast wheel production with Kyushu Yanagawa Seiki Co.
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