Stocks In News: DMart To HDFC Bank Ltd. — Top Gainers And Losers
Avenue Supermarts Ltd. was in investors' focus on Friday following analysts' views on the stock. Meanwhile, it is the last day to buy ITC Ltd. before it trades ex-demerger, so that shareholders can be eligible for ITC Hotels Ltd. shares.
Indian markets maintained their downward momentum by midday, dropping after a muted start.
Here are the trending stocks as of noon today:
DMart
Avenue Supermarts Ltd., the operator of DMart, saw its stock price soar by up to 15% on Friday locking in upper circuit following the announcement of an 18% year-on-year increase in its standalone revenue from operations, reaching Rs 15,565.2 crore for the quarter ending December. The surge was fueled by a UBS note, which highlighted DMart's strong performance in Q3, attributing it to effective operational execution amid growing competition from quick commerce.
ITC
ITC Ltd. saw a decline of up to 1.12% on Friday as the stock gained traction ahead of the last trading day for investors to qualify for receiving shares of ITC Hotels Ltd. This comes as the stock goes ex-demerger. The record date will determine which shareholders are eligible to receive shares in ITC Hotels, the newly independent entity.
Jai Corp
Jai Corp Ltd. shares tumbled more than 16% on Friday, marking the second consecutive day of losses, after a 5,286-acre industrial land parcel was sold to Reliance Industries Ltd. for Rs 2,200 crore. Over the past two days, the stock has plummeted by more than 35%.
Zee
Zee Entertainment Enterprises Ltd. surged more than 7% on Friday following news that the capital market regulator had widened its investigation into CEO Punit Goenka and Chairman Emeritus Subhash Chandra.
HDFC Bank
HDFC Bank Ltd. shares dropped 2.24% on Friday after CLSA removed the stock from its India-focused portfolio, citing concerns over an uncertain global macro environment, high valuations, and a potential slowdown in India's economic growth.
REC
Rec Ltd.'s shares rose as much as 3.61% on heels of bullish sentiment from Emkay Global as it initiated coverage on the public sector power financier recommending a 'buy' on the stocks. The brokerage's positive stance is built on the robust growth potential of India's power sector, improved asset quality, and attractive valuations.
KPI Green
KPI Green Energy Ltd.'s shares gained nearly 3% on Friday Jan. 3 on the record date for its proposed bonus issue in a 1:2 ratio. Investors were to hold shares of the renewable energy firm by Jan. 2, Tuesday, to ensure their stock is credited to their demat accounts on a T+1 basis before the record date. On Jan. 2 the shares rose as much as 4.31%
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