Top stock movers — IndiGo, Siemens, Laurus Labs, Future Consumer, Kesoram Industries, and others

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Top stock movers — IndiGo, Siemens, Laurus Labs, Future Consumer, Kesoram Industries, and others
BCCL
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Indian equity benchmark indexes pared early gains to trade lower on Thursday, led by selling in IT, banks, metals and auto stocks.

The 30-share BSE index was trading 44 points lower, and NSE Nifty was trading 0.19% lower at 12,834 points

Here’s a list of the top losers and gainers in the Nifty pack.

Top Nifty GainersTop Nifty Losers
GrasimIndusInd Bank
Bajaj Auto Eicher Motors
TitanAsian Paint
HDFCMaruti Suzuki
L&TBajaj Finance
*as of November 26, 9:50 am

These are the top stocks in news today.

IndiGo shares down nearly 3%

The shares of IndiGo lost nearly 3% after Citi downgraded its rating to Sell from Neutral. The brokerage said that IndiGo’s market share might have peaked and it could trend lower as its peers ramp up.
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Siemens trades 7% higher

The shares of tech major Siemens gained over 7% despite the company reporting a 4.7% fall in net profit at ₹333 crore for the September quarter mainly on higher expenses due to lockdown. However, the company said that during the quarter, the new orders from continuing operations grew 8.7% at ₹3,220 crore as compared to the year-ago period.

Laurus Labs gains over 3%

The shares of Drug major Laurus Labs soared over 3% after it had signed definitive agreements with the Eight Roads Ventures, VenturEast Proactive Fund, and VenturEast Life Fund III to acquire 72.55% stake in biotech firm Richcore Lifesciences for a cash consideration of ₹246.67 crore.

Future Consumer locked in 5% lower circuit

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The shares of Future Consumer were locked in a 5% lower circuit after its recently appointed CEO, Rajnikant Sabnavis, resigned from his position.

Union Bank gain over 2%

The shares of Union Bank gained over 2% after its board has approved raising up to ₹6,800 crore during this fiscal to fund business growth.

Fine Organics gains over 2%

The shares of Fine Organic Industries gained over 2% after it informed the exchanges that it had commenced operations at its newly opened company facility in Maharashtra.

Kesoram Industries trades 7% higher

The shares of BK Birla Group flagship Kesoram Industries gained over 7% after the company said its consortium of lenders had given their in-principle approval to a resolution plan to raise funds and restructure debts. The total debt of the company currently stands at over ₹2,000 crore.
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SEE ALSO: US stocks dip from record levels on disappointing economic data and soaring COVID-19 cases

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