Shares of Himadri Specialty Chemicals ended nearly 13 percent higher on Tuesday, marking their biggest single-day gain in over a year. The stock rose for the fifth straight session and has gained in six out of the last seven trading sessions.
Sources within the dealing rooms told CNBC-TV18 that HNIs were buyers in the stock. Additionally, the street is also anticipating a corporate development to take place in the company soon.
In anticipation of such an announcement, shares of the company have risen 61 percent in the last one month itself. The stock has doubled so far in 2023, rising 126 percent.
Another Day Of Consolidation
Benchmark indices traded in a narrow range on Tuesday but managed to end higher in a session marked by low volumes.
Dealers observed some small market at close buying from foreign investors in select stocks.
Sector rotation continued in today's session with chemical stocks surging in today's trading session.
The trend of promoter and private equity stake sales continued with today's block deal in APL Apollo Tubes.
Besides Himadri Specialty Chemicals, these stocks made it to the dealing room chatter:
APL Apollo Tubes: The stock ended three percent lower on Tuesday after nearly 1.5 percent of the company's equity exchanged hands in a block deal. CNBC-TV18 had reported earlier that promoters planned on paring some stake in the company. Dealers said that a leading long only fund is a buyer in today's trading session.
Bharat Forge: Shares continued to rise on Tuesday as well, ending 2 percent higher and has now gained in seven out of the last eight trading sessions. The stock is now headed towards the mark of Rs 1,100, after crossing the Rs 1,000 mark on August 22. Dealers said that FIIs were buyers in the stock in today's session.
Ami Organics: The stock also witnessed some selling pressure after a block deal in which 1.7 percent equity exchanged hands. Dealers believe that the promoter entity is likely to be the seller in this transaction.
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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