Shares of NCC ended over 8 percent higher on Friday, registering their biggest single-day gain in over six months. The stock has been oscillating between gains and losses over the last four trading sessions.
Sources within the dealing rooms told CNBC-TV18 that the stock has been rising on good volumes and that the street is anticipating the company to win a large order soon.
Shares of NCC have risen over 77 percent so far on a year-to-date basis, which is their best returns in a single year since 2014.
An Negative End To The Week
Benchmark indices recovered from the day's low but snapped a four-week gaining streak. The market is currently consolidating with a negative bias.
The Nifty 50 range is now seen between 19,400 - 19,800 according to the dealers.
Broader markets were relative outperformers on Friday with real estate stocks being the top performers.
Earnings are likely to dominate the near-term trends according to the dealers. Weak earnings from Indian Oil kept OMCs under pressure on Friday.
Besides NCC, these stocks made it to the dealing room chatter on Friday:
Spandana Sphoorty: The stock ended 2.7 percent higher on Friday, extending its winning run to the third straight day. Shares have risen 10 percent in the last three trading sessions. Dealers are expecting a large block deal to take place in the stock soon wherein the ex-promoter of the company is likely to sell stake.
Sterling & Wilson: Dealing rooms indicate that HNIs have been buyers of the stock. This resulted in shares ending higher by nearly 5 percent. Dealers further said that a clutch of influential investors have been active buyers recently in the stock.
Escorts Kubota: The agri-equipment manufacturer ended 3.5 percent higher on Friday, extending its gains for the fifth straight session. Dealers said that the stock is rising due to buying interest from HNIs ahead of earnings. They further added that the street is also anticipating a corporate development to take place in the stock soon.
(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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