Tag: Buzzing Stocks

Apollo Tyres shares fell over 2 percent on September 21 after the company announced a temporary halt of its bias off-the-road (OTR) tyre production at its Limda plant in Gujarat due to concerns from shop floor employees. The company said it is in discussions with labour union representatives to address their concerns and find a resolution. The situation is not expected to have a material impact on Apollo Tyres' operations.

Kaynes Technology India and Syrma SGS stocks gained on September 21 after Morgan Stanley initiated “overweight” ratings for these two companies. The brokerage firm sees India's increasing potential in the electronic manufacturing landscape and forecasts a 21 percent compound annual growth rate (CAGR) in revenue from FY22 to FY32.

Shares of Themis Medicare, a smallcap pharma company, surged to a lifetime high on Thursday after the company fixed a record date for a stock split. The stock has surged 33% so far this year, as against a 10% gain in the S&P BSE Sensex. Themis Medicare specializes in the manufacture of a wide range of products for pain management, critical care, and anti-infectives. The company has a portfolio of over 30 products and is present in 17 states.

Glenmark Life Sciences shares were up over 1% in the afternoon trade on September 21 after reports that parent Glenmark Pharmaceuticals was looking to reduce its stake in the company. Glenmark Pharmaceuticals is required to reduce its stake to 75% by August 2024 to comply with SEBI regulations. Nirma and ChrysCapital have both submitted binding bids for Glenmark Pharmaceuticals' stake in Glenmark Life Sciences. In the April-to-June quarter, Glenmark Life Sciences reported an 18% YoY growth in revenue and a 24% YoY increase in net profit.

Shares of Delphi World Money hit a 10 percent upper circuit on September 21 on the back of heavy volumes. The company's financial performance has been strong in recent quarters, with revenue and profit growing significantly. The stock has outperformed the benchmark Sensex on a year-to-date basis.

Electronics Mart India shares climbed over 4% in opening trade on September 21 after 96.2 lakh shares of the firm changed hands in a block deal worth Rs 137.6 crore. The buyers and sellers could not be immediately ascertained. Electronics Mart India is a retailer of electronics home appliances and consumer durables. It is headquartered in Hyderabad, Telangana. The company's revenue jumped 19.95% year-on-year to Rs 1,691.56 crore in Q1 FY24. Its net profit climbed 48.2% to Rs 60.26 crore. Shares of the company are up 70% this year to date. The stock price is around 11% down from its 52-week high of Rs 166.50.

West Coast Paper Mills shares were trading 3% higher in the morning trade on September 21 after the paper-maker announced having received approval for its resolution plan to acquire Uniply Decor from the National Company Law Tribunal (NCLT). The company's stock has been on an upward trend since July 27th.

SJVN shares tanked 9% in early trade on September 21 after the government launched an OFS for up to 4.92% equity stake at a deeply discounted floor price of Rs 69 per share, a 15% discount to the previous closing price. The OFS opens for non-retail investors on September 21 and for retail investors on September 22.

Sheela Foam shares jumped nearly 2% on September 21 as the company launched its proposed QIP to fund its acquisition of Kurlon. The floor price for the QIP issue is Rs 1,133.99 per share. Promoters hold the majority 72.95% stake in the company. Sheela Foam stock has delivered a return of 7.14% over the last six months.

Zydus Lifesciences shares rose nearly 1% on September 21 after the company received final approval from the USFDA for Clindamycin Phosphate Gel USP, a skincare gel used to treat acne. The drug will be manufactured at the group’s topical manufacturing facility at Changodar, Ahmedabad. This is the latest in a series of approvals for Zydus Lifesciences from the USFDA. The company is expected to continue to do well in its current business operations, with new drivers for growth based on vaccines, biosimilars, and complex generics.