Top stock movers —ITC, Future Retail, Vedanta, Wipro, Premier Explosives, Shilpa Medicare and more

Top stock movers —ITC, Future Retail, Vedanta, Wipro, Premier Explosives, Shilpa Medicare and more
Indian stock market indices Sensex rallied nearly 400 points in opening trade on Monday, led by gains in index-heavyweights HDFC, Infosys and Reliance Industries amid largely positive cues from Asian markets.

The 30-share BSE index was trading over 396 points, and the broader NSE Nifty rose 0.91% at 9:45 am.

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

Top Nifty GainersTop Nifty Losers
Power Grid Tata Motors
Kotak BankHero MotoCorp
*as of October 12, 9:55 am

These are the top stocks in news today.

Vedanta locked in 10% lower circuit

The shares of Vedanta were locked in a 10% lower circuit after its buyback offer is deemed to have failed as per the terms of the delisting regulations. This comes after its promoter Vedanta Resources did not receive the required number of shares to delist the firm.

Wipro trades in green

The shares of Wipro were trading barely a percent higher ahead of its earnings today and the buyback announcement due tomorrow.

Glenmark Pharma cracked 2%

The shares of Glenmark Pharma lost 2% after the company said that its Umifenovir did not show superior clinical outcomes when added to Favipiravir treatment for moderate coronavirus.

Premier Explosives locked in 5% upper circuit

The shares of Premier Explosives were locked in 5% upper circuit for the second time in a row after the company said it had bagged ₹82.83 crore order from a state-run Singareni Collieries Company in Telangana for the supply of SMS/SME explosives and accessories.

Shilpa Medicare down 7%

The shares of Shilpa Medicare were down 7% after its Telangana-based Jadcherla facility received a warning letter from the US drug regulator on October 9. The company said that it will be engaging with the agency and is fully committed to resolving this issue at the earliest.

Future Retail shares lost 7%

The shares of Kishore Biyani led Future Retail was down 7% after reports surfaced that arbitration proceedings between e-commerce giant Amazon and Future Group are expected to start in November. The reports also claimed that Amazon might succeed in the arbitration proceedings against Future Group.

ITC shares gain 5%

The shares of hospitality and cigarette giant ITC were up 5% after CLSA upgraded ITC rating from outperform to ‘Buy’ with a target price of ₹220 per share. CLSA says FMCG is the new value driver and long-term positives are unfolding as revenue diversifies.

SEE ALSO: Top stocks to watch — Vedanta, Wipro, RITES, Mazagon Dock, UTI AMC, Glenmark Pharma, and others

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