Six Stocks In News At Noon: Venus Pipes, Aurobindo Pharma, Zen Tech And More

As the trading session progresses, several stocks are making notable moves based on recent developments and brokerage updates. Here’s a look at six stocks that are catching investors’ attention at noon.

Venus Pipes and Tubes Ltd.'s share price surged by 5.29% after Investec initiated coverage with a ‘buy’ rating. The brokerage set a target price of Rs 1,665, citing the company’s impressive financials and rapid growth. Significant revenue growth and strong execution on capacity expansion are key factors driving this positive outlook.

Patel Engineering Ltd.'s share price rose over 4% in early trade after the company and its joint venture partner were declared the lowest bidders for a major irrigation project in Maharashtra. The Rs 1,090.45-crore contract involves constructing a pipeline distribution network for the Nira Deoghar Right Bank Main Canal and its distributaries, to be completed in 36 months.

Shares of Aurobindo Pharma Ltd. fell by over 9% following the completion of a US FDA pre-approval inspection at its subsidiary, Eugia Steriles Pvt. The inspection concluded with five observations, which the company has committed to addressing promptly. The procedural nature of these observations has been noted, and the company will keep the stock exchanges informed of any further developments.

Zen Technologies Ltd. saw its shares surge by over 10%, hitting the upper circuit limit as it rebounded from a steep 30% decline over the past two days. The stock had been on a downward trajectory due to a disappointing third-quarter earnings report, but it is now showing signs of recovery.

Shares of Rail Vikas Nigam Ltd. (RVNL) surged by over 4% following the announcement of a contract win for the Bengaluru Suburban Rail Project (BSRP). The Rs 554 crore contract, awarded by the Rail Infrastructure Development Company (Karnataka) Limited (K-RIDE), involves constructing nine stations, marking a significant milestone for RVNL.

Jubilant FoodWorks’ share price rose by 1.61% after Goldman Sachs and Citi expressed a bullish outlook on the Quick Service Restaurant (QSR) industry. Both brokerages highlighted that QSR players are gaining market share in the food delivery market despite weak demand. Strategic interventions and value initiatives have been crucial in this recovery, with Jubilant FoodWorks emerging as a top performer in the sector.