Stocks In News At Noon: Siemens, Vedanta, Bharat Global Shares

The Nifty 50 and Sensex reversed a five-day decline at open. Around noon, the Nifty 50 recorded best intraday gain since Dec 5. The Sensex gained the most since Dec 13.

As of 12:33 p.m., the Nifty 50 was trading 150.25 points or 0.64% higher at 23,737.75, and the Sensex was 405.23 points or 0.52% higher at 78,446.83.

Siemens Ltd. share price declined 3.30% to the day's low Rs 6,642.50, which is the lowest price since Nov 21. The stock fell after Nuvama downgraded the stock rating and cut target price after flagging challenges to its growth in near term. The brokerage downgraded the rating to 'Hold' and cut target price to Rs 7,000, which implied an 8.18% downside from Friday's closing price.

As of 12:34 p.m., Siemens share price was 1.29% down at Rs 6,780.55.

The Securities Exchange Board of India suspended Bharat Global Developers Ltd. from trading as it founded fake disclosures and misrepresentation of financials from the company.

The regulator also passed orders with respect to 46 other notices mentioned in the temporary order. All the parties in the order have also been directed to disclose a list of their assets to the regulator within 15 days of the issuance of the order. Read the full article here.

Vedanta Ltd. share price recovered from a six-day fall in Monday's session. It rose 1.52% to Rs 484.50 apiece. The share price rose as the company announced plans to retain its base metals unit with the parent on Friday, instead of listing it as a separate entity.

As of 12:35 p.m., Vedanta Ltd. share price was 0.25 points or 0.1% higher at 477.50.

India Cements Ltd. share price rose 10.92% to Rs 376.20, the highest level since Sept 16. The share price rose after the Competition Commission of India gave an unconditional approval to UltraTech Cement Ltd. to acquire stakes in the company.

Cartrade Tech Ltd. share price declined 7.26% to the day's low of Rs 1,498.60 apiece, the lowest level since Dec 19. The stock has no direct trigger behind its sharp fall in Monday.

As of 12:35 p.m., Cartrade Tech share price pared losses to trade 5.05% or 81.65 points down at Rs 1,534.35.