These are some stocks that moved significantly either throughout the trading session or from close-to-close. Along with the stock, our partners at Benzinga have provided an assessment for what likely drove these intraday price movements.
How can traders use this? These could be potentially trading opportunities if you believe that the market overreacted or underreacted.
| Symbol | Why Did It Move? |
|---|---|
| FIRSTSOURCE SOLUTIONS LTD. | Firstsource Solutions shares are trading higher, not seeing company-specific news from the session. |
| BATA INDIA LTD. | Bata India shares are trading lower after a large trade on NSE comprising 49,448 shares at ₹1410/share worth ₹6.97 crore. |
| Coforge Ltd | Coforge shares are trading lower, not seeing company-specific news from the session. |
| BHARAT ELECTRONICS LTD. | Bharat Electronics shares are trading higher after Air Force signed a contract for an Indigenous Electronic Warfare system with the company. |
| VOLTAS LTD. | Voltas shares are trading higher, possibly on expectations of robust sales as mercury soars. The company launched new inverter ACs. |
| MAHINDRA & MAHINDRA LTD. | Mahindra & Mahindra shares are trading higher after the company announced launching a new tractor brand OJA. The stock is trading higher along with other auto stocks as RBI’s status quo on the repo rate, and upward revision of FY24 GDP growth forecast boost markets. The stock also witnessed two block deals on NSE comprising 1.57 lakh shares in the ₹1160-₹1166 range worth ₹18.32 crore. |
| ICICI BANK LTD. | ICICI Bank shares are trading lower after the lender revised its fixed deposit rates upwards on Domestic, NRO, and NRE deposits under ₹5 crore. |
| AXIS BANK LTD. | Axis Bank shares are trading lower after the lender revised its fixed deposit rates upward for deposits under ₹2 crore. It offers interest rates up to 8.01% for tenor of 2 years to 30 months to senior citizens. |
| AU Small Finance Bank Ltd | AU Small Finance Bank shares are trading higher, tracking gains in other small finance bank stocks after robust quarterly business update. The upward movement is also in tandem with other banking stocks as they surge on RBI’s repo rate hike pause. |
| MANAPPURAM FINANCE LTD. | Manappuram Finance shares are trading higher as Gold prices rally ₹1,025 to touch a lifetime high of ₹61,080 per 10 grams. |
| AMBUJA CEMENTS LTD. | Ambuja Cements shares are trading higher after KRChoksey Securities issued a technical Buy call with a target price of ₹415 and a stop loss at ₹370. |
| IPCA LABORATORIES LTD. | IPCA Laboratories shares are trading higher after Macquarie upgraded its rating to Neutral from Underperform, with a target price of ₹810, due to green shoots in the US Generics market. The research firm noted concerns of further downward earnings revisions are factored in at current levels. |
| AUROBINDO PHARMA LTD. | Aurobindo Pharma shares are trading higher after Macquarie upgraded its rating to Outperform from Underperform, with a target price of ₹600, due to green shoots in the US Generics market. The company appointed Sanjay Chaturvedi as the CEO of its wholly-owned subsidiary, Apitoria Pharma Private Limited. |
| SUN PHARMACEUTICAL INDUSTRIES LTD. | Sun Pharmaceutical Industries shares are trading higher after Macquarie maintained an Outperform rating with a target price of ₹1275. The research firm turned positive on some pharma stocks including the company following a rebound in the US generic market. |
| BHARAT HEAVY ELECTRICALS LTD. | Bharat Heavy Electricals shares are trading higher after a block deal on NSE comprising 51.16 lakh shares at ₹68.15/share worth ₹34.87 crore. |
| BHARAT PETROLEUM CORPORATION LTD. | Bharat Petroleum Corporation shares are trading higher after SMIFS issued a technical Buy call with a target price of ₹500. The Government cut the windfall tax on diesel to ₹0.50/litre from ₹1/litre earlier on Tuesday. |
| BALRAMPUR CHINI MILLS LTD. | Balrampur Chini Mills shares are trading higher after stock expert Arman Nahar issued a technical Buy call on its futures with a target price of ₹423. Source: ZEE Business; The upward movement is in tandem with other sugar stocks as raw sugar prices hit an 11-year high in global markets. |
| SBI Life Insurance Company Ltd | SBI Life Insurance Company shares are trading higher after Morgan Stanley maintained an Overweight rating with a target price of ₹1650. |
| HDFC Life Insurance Company Ltd | HDFC Life Insurance Company shares are trading higher after a block deal on NSE comprising 3.15 lakh shares at ₹509.75/share worth ₹16.06 crore. |
| Bajaj Finance Limited | Bajaj Finance shares are trading higher along with other NBFC stocks after RBI maintained a status quo on Repo rate at 6.50%. The Central Bank also revised its FY24 GDP growth forecasts by 10 bps to 6.5%. |
| CAN FIN HOMES LTD. | Can Fin Homes shares are trading higher, tracking gains in Aptus Value Housing Finance stock following the latter’s strong Q4 business update. The upward movement is in sync with other Housing Finance NBFCs after RBI announced its accommodative stance by maintaining the repo rate at 6.5%. |
| TATA MOTORS LTD. | Tata Motors shares are trading higher after IIFL Securities issued a technical Buy call with a target price of ₹445 and a stop loss at ₹410. The upward movement is in tandem with other auto stocks as they march forward following RBI’s accommodative stance. In addition, the company retained its first position in March EV sales, according to FADA. |
| Gujarat Gas Limited | Gujarat Gas shares are trading higher along with other City Gas Distribution stocks on reports that Cabinet may give green signal to the Kirit Parikh committee’s recommendations on natural gas. Analysts expect the new gas pricing to favor CGDs. |
| Indraprastha Gas Limited | Indraprastha Gas shares are trading higher along with other City Gas Distribution stocks on reports that Cabinet may give green light to the Kirit Parikh committee’s recommendations on natural gas. Analysts expect the new gas pricing to favor CGDs. |
| MUTHOOT FINANCE LTD. | Muthoot Finance shares are trading higher after the company’s board approved the payment of an interim dividend of ₹22/share. |
| BAJAJ FINSERV LTD. | Bajaj Finserv shares are trading higher after the company’s unlisted insurance subsidiary Bajaj Allianz General Insurance Company, registered 20% MoM growth in Gross Direct Premium underwritten in March 2023. The upward movement is in tandem with other NBFC stocks on RBI’s accommodative policy stance. |
| ADANI ENTERPRISES LTD. | Adani Enterprises shares are trading higher on reports that the stock may enter BSE’s benchmark index, Sensex. Analysts expect an inflow of ₹1000 crore following buying by passive funds. Source: ET |
| Zydus Lifesciences Ltd | Zydus Lifesciences shares are trading higher after the US FDA issued final approval for Acetazolamide Tablets USP, 125 mg and 250 mg. The company also received final approval from the agency for Carbidopa and Levodopa Tablets USP, 10 mg/100 mg, 25 mg/100 mg, and 25 mg/250 mg. |
| MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. | Mahindra & Mahindra Financial Services shares are trading higher along with other NBFC stocks after RBI maintained a status quo on the repo rate at 6.5% and raised FY24 GDP growth rate forecasts from 6.4% to 6.5%. The stock is also trading higher, tracking Cholamandalam Investment and Finance Company stock’s gains following strong Q4 business update. |