Market Movers: RITES falls as OFS sails, Axis Bank gains; buy signals in 25 stocks

Shares of state-run consultant RITES slumped 6 per cent on Thursday even as the company’s offer for sale opened and the non-retail quota got fully subscribed within hours.

Axis Bank gained after the lender appointed a new chief financial officer. It was among the biggest gainers on the 30-share pack Sensex. The BSE flagship, however, shed 143 points to 39,745 while NSE barometer Nifty dipped 45 points to 11,633.

“Domestic equities would continue to track developments on coronavirus and exhibit volatility in the near term. The announcement of GDP data on Friday will be a key domestic cue, and will be watched actively by market participants. In these uncertain times, following a stock-specific approach would be more prudent,” said Ajit Mishra, VP - Research, Religare Broking.

Here is a lowdown on the movers and shakers of Thursday’s session on Dalal Street:

TVS takes Motomundo on pillion ride
TVS Motor Company said it has partnered with Motomundo SA, a business group in Honduras, for sales and service of its products in the Central American nation. Shares of the company closed 0.13 per cent higher at Rs 436.

New CFO gives Axis Bank a lift
Axis Bank said its board has approved the appointment of Puneet Sharma as Chief Financial Officer (CFO). Shares of the private lender gained 1.17 per cent to Rs 738.30.

Glenmark falls after Hikma pact
Glenmark Pharmaceuticals said it has entered an exclusive licensing agreement with Hikma Pharmaceuticals for commercialising its novel nasal spray Ryaltris in the US. Shares of the drugmaker closed 0.74 per cent lower at Rs 293.80.

RITES slumps as OFS opens
Shares of RITES crashed 5.91 per cent to Rs 299.25 after the company’s offer for sale opened for subscription. The non-retail quota of the issue got fully subscribed on Day 1. The retail portion will open on Friday.

Biocon gets observations
Biocon shares recovered losses to close 0.17 per cent up at Rs 299.20 the US Food and Drug Administration (USFDA) issued a Form 483 with two observations to Biocon’ Bengaluru API facility.

Lasa Supergenerics hits upper circuit
Shares of Lasa Supergenerics hit the upper circuit limit to touch a 52-week high after the company announced it has acquired Harishree Aromatics Chemical. The stock ended the day at Rs 47.50, up 4.97 per cent.

Most active stocks
Reliance Industries was the most active stock in terms of value of transactions, followed by SBI, ICICI Bank, HDFC Bank and Indiabulls Housing Finance. In terms of volume of transactions, Vodafone Idea topped the table, followed by YES Bank, Tata Motors, SBI and Ashok Leyland.

Who moved my Sensex?
ICICI Bank was the biggest negative contributor towards Sensex’s fall, shedding 53 points. SBI, Infosys and TCS were other major culprits as they together shaved off 62 points.

294 stocks at 52-week lows
Nearly 300 stocks kissed their year-lows during the trade. The include marquee names like ACC, Bandhan Bank, BOB, BHEL, Hero Moto, IndusInd Bank, Indian Oil, L&T, Indian Bank and Hindalco.

25 stocks give ‘buy’ signals
As many as 25 stocks crossed above the signal line on MACD indicator, flashing ‘buy’ signals. They include Power Grid Corporation, NLC India, Max India, BASF India, Sanghi Industries, Heidelberg Cement, TTK Healthcare and Everest Organics.