Markets

These stocks surged up to 25% despite lackluster market

NEW DELHI: Shares of FCS Software (up 25 per cent), Mahamaya Steel (up 16.45 per cent), Hilton Metal (up 15.99 per cent) and Nakoda (up 14.29 per cent) surged up to 25 per cent in Friday’s trade defying subdued market sentiments.

Autoline Industries (up 13.68 per cent), MEP Infrastructure Developers (up 12.03 per cent), MVL (up 11.11 per cent), Metkore Alloys (up 10 per cent), Prakash Steel (up 9.09 per cent), Titan Company (up 9.04 per cent), Unitech (up 8.67 per cent) and Kamat Hotels (up 8.43 per cent) also registered significant gains.

Sustained selling in frontline bluechip counters such as Bharti Airtel, Reliance Industries, Tata Power and Mahindra & Mahindra kept the bourses in the negative zone, barring momentary gains.

Pharma stocks saw big fall, with shares of Dr. Reddy’s Laboratories (down 3.54 per cent), Cadila Healthcare (down 2.99 per cent), Aurobindo Pharma (down 2.40 per cent) and Sun Pharmaceutical (down 1.80 per cent) sinking up to 3 per cent.

Analysts suggest company-specific action and appreciation in rupee as the major reasons behind the plunge in pharma stocks.

The Nifty Pharma index was trading 110 points lower at 9,227 around 2.55 pm (IST).

Besides pharma, FMCG and banking indices showed volatile temperament as they swung between gains and losses.

Benchmark Nifty50 index was 27 points up at 10,041, while the 30-share Sensex was 12 points up at 32,250 around the same time.

In the Nifty50 pack, 35 stocks were trading in green, while 16 stocks were in red.

On BSE, 1,123 stocks were advancing whereas 1,414 stocks were lagging.


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