HNIs buy GMDC, IDFC First Bank QIP likely soon: Dealing Room Check
From a potential corporate development on GMDC to an anticipated QIP on IDFC First Bank, here are the stocks that made it to the dealing room chatter on Friday.
Shares of Gujarat Mineral Development Corporation (GMDC) gained the most in the month and ended the week with gains of nearly 20 percent.
Sources within the dealing rooms told CNBC-TV18 that HNIs are buying the stock recently and that the street is expecting a corporate development on the stock soon.
The stock has now gained in seven out of the last eight weeks and has nearly doubled during this period.
Second Straight Weekly Loss
The Nifty 50 ended the week with on a steady not, but not before cooling off from the day's high. Despite Friday's gains, the Nifty 50 posted its second straight weekly loss.
The Pharma and Healthcare index was the biggest gainer in today's session, registering its biggest intraday gain in 16 months. The street is touting it to be a better defensive play than IT. Additionally, the HDFC Mutual Fund's Pharma NFO saw a strong response.
Dealers also said that financial and metal stocks saw some short covering today. Broader markets also witnessed a relief rally.
Besides GMDC, here are the stocks that made it to the dealing room chatter:
IDFC First Bank: Shares of the private lender have now gained in five out of the last six trading sessions. Amidst the consolidation in the stock, dealing room sources said that a fund raising via a QIP is likely to be announced soon.
L&T Finance Holdings: The stock gained over 5 percent on Friday and ended higher for the third day in a row. Dealers said that FIIs have been buyers in the stock where a leading long only fund is an active buyer.
Devyani International & SAMHI Hotels: Both the stocks ended the day with gains of 1-3 percent as dealing rooms said that FIIs were buyers in both these stocks and they are likely to see a higher delivery volume in today's trading session.
(Edited by : Hormaz Fatakia)
Note To Readers
Disclaimer: The stocks discussed in this article are based on unconfirmed reports from dealing rooms. It is advised to carry out your own due diligence before making any investment decision.
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