Market Buzz Today: Benchmarks are Green; KEI Industries gains 3.59%, PNB Housing down 10.54%

The stock market community is very optimistic about Budget 2020-21 and its impact can be seen on the benchmark indices that managed to hold on to the gains on Friday, January 24, 2020. The gains were supported by the movement of the stocks, either way. BSE Sensex was up 61.38 points, or 0.63%, to 41,647.78 at 2:16pm. The Nifty 50 was up 82.35.75 points or 0.68% to 12,262.70. Similarly, Bank Nifty was up by 342.40 points, or 1.10%, to 31,346.45. List of the Stocks:

KEI Industries: Up 3.59%. The company passed resolutions for raising of funds by way of issue of equity shares, through a QIP.

SBI Life: Up 1.30%. Brokerage houses remained bullish on the stock, citing continued robust growth trajectory in Q3FY20.

Godrej Properties: Up 2.25%. Launching a luxurious residential development at RK Studios, Chembur.

PVR: Up 3.40. Research house Morgan Stanley reiterated buy on the stocks and raised the target to Rs 2,350 per share.

Indiabulls Housing: Up 3.76%. Credit Suisse bought 22,93,306 shares through a bulk deal on NSE at an average price of Rs311.68

PNB Housing: Down 10.54%. The company has posted 22% de-growth in its Q3FY20 net profit at Rs 237 crore versus Rs303 crore, YoY.

YES Bank: Up 6.72%. Records sharpest intra-day gain in six weeks, up 17% in two days. SBI Chairman Rajnish Kumar said he’s certain “some solutions will emerge” to steady YES Bank. 

Century Textiles: Up 6.34%. Hits fresh 52-week high on fundraising plan via NCDs. The company announced a fundraising plan of up to Rs400 crore through non-convertible debentures (NCDs).

KEI Industries: Up 3.60%. Launches QIP issue to raise Rs500 crore.

Zensar Technologies: Down 11.14%. The company reported weak numbers for the December quarter (Q3FY20) with dollar revenues declining 5.9%, QoQ.

Westlife Development: Up 4.57%. Owner of the master franchisee of McDonald's reports 3-fold rise in Q3 profit.

ITI: Down 2.04%. Rs 1,400 crore IPO kicks off, to sell 18 crore shares, in the price bracket of Rs72-77 per share.

Alembic Pharma: Up 0.82%. Gets final USFDA nod for hypertension drug.

Coffee Day Enterprises: Hits 5% upper circuit limit as co sells Way2Wealth Securities. Entered into the definitive agreement with the Chennai-based Shriram Group. The move is a part of efforts to cut debt and shore up resources for working capital by disposing of non-core assets.