Shares of United Breweries were on a high on Tuesday after a media reports said Heineken may launch an open offer to raise its stake in the company above 51 per cent.
Shares of IFCI and YES Bank climbed due to separate reasons. Dishman Carbogen Amcis plunged 20 per cent after income-tax department raided the company.
BSE benchmark Sensex rose 181 points to 41,461 while NSE barometer Nifty shed 50 points to 12,212.
“IMF’s statement that India is in the middle of a significant economic slowdown pushed the market into the negative terrain on Tuesday. Persisting weakness in the rupee and a gradual surge in crude prices also turned the market sentiment gloomy,” said Shrikant Chouhan, Senior Vice-President, Equity Technical Research, Kotak Securities.
Here is a lowdown of the movers and shakers of Tuesday’s session on Dalal Street:
UB jumps on likely open offer
Shares of United Breweries climbed 4.79 per cent to Rs 1,299.40 after a media report that promoter of the company Heineken is considering an open offer to increase the stake in the company. Heineken is likely to launch a voluntary open offer for 10-15 percent stake in the company.
YES Bank out of F&O ban
Shares of YES Bank rose 3.12 per cent to Rs 51.20 after the stock came out of Futures & Options ban. The stock was banned from trading in the futures segment recently after the combined open interest in its derivatives contract crossed 95 per cent of the market-wide position limit.
IFCI surges 8%
Shares of IFCI soared 7.64 per cent to Rs 6.76 after the company said has realized an amount of approximately 805.60 crore from the stake sale in NSE.
Dishman Carbogen Amcis plunges
Dishman Carbogen Amcis plummeted 19.98 per cent to Rs 72.10 after income tax department raided its offices. The officials of income-tax department have visited the company’s head offices and manufacturing sites in connection with search under Section 142 of the Income-Tax Act on December 19, 2019 and search enquiry is continuing, the company said.
Volatility slumps further
India VIX, the measure of volatility in the market, slipped 4.66 per cent to 11.40.
Key Sensex movers
Reliance Industries and HDFC twins were among the biggest negative contributors for Sensex. RIL bled 75 points while HDFC and HDFC Bank shed 71 points together. IndusInd Bank was the biggest positive contributor during the day.
Most active stocks
Indiabulls Housing Finance was the most active stock on NSE in terms of turnover. It was followed by Reliance Industries, YES Bank, SBI and IndusInd Bank. In terms of volume YES Bank topped the charts followed by Vodafone Idea, Dish TV, Indiabulls Housing Finance and SBI.
121 stocks hit 52-week lows
As many as 121 stocks hit their 52-week on BSE. In the BSE 500, Dishman Carbogen Amcis, GHCL, Gujarat Narmada Valley Fertilizers & Chemicals and V-Mart Retail were among the stocks that hit 12-month low.
46 scrips flash ‘sell’ signals
As many as 46 stocks turned bearish slipping below the MACD signal line. They include Canara Bank, TV18 Broadcast, Petronet LNG, Dabur India, Aditya Birla Fashion, Eicher Motors, Kansai Nerolac Paint and Rico Auto, among others.
Source: Economic Times
