homemarket NewsFIIs buy Zomato, Techno Electric may win order Stocks that kept dealers busy on Monday
FIIs buy Zomato, Techno Electric may win order - Stocks that kept dealers busy on Monday
Dealers suggest that flows in today's session were mixed, but with a positive bias. They also observed small market at close basket buying in midcap names in today's session. Defence stocks also observed heavy volumes.
Shares of Zomato ended 2.7 percent higher on Monday and closed above its IPO price of Rs 76.
Sources within the dealing rooms told CNBC-TV18 that the stock saw buying interest from FIIs today and that it is likely to see heavy volumes from the session.
The stock has now gained in three out of the last four trading session and has surged nearly 50 percent over the last three months.
Another Positive Day, But...
Benchmark indices Sensex and Nifty 50 ended higher on Monday but significantly off the day's high. The Nifty 50 failed to close above the 19,500 mark.
Dealers suggest that flows in today's session were mixed, but with a positive bias. They also observed small market at close basket buying in midcap names in today's session. Defence stocks also observed heavy volumes.
Broader markets outperformed in today's session but the focus is on largecaps, which are expected to lead the rally. All eyes are now on the technology earnings, which start tomorrow with TCS and HCLTech.
Chemical stocks were under pressure in today's session on fear of weak earnings and profit warnings by global peers.
Besides Zomato, these stocks made it to the dealing room chatter:
InterGlobe Aviation: The stock ended 1.2 percent higher on Tuesday, ending higher for the second day in a row. The stock has now gained in four out of the last five trading sessions. While the overhang of Rakesh Gangwal's stake sale continues on the stock, a leading long-only fund was an active buyer in the stock, according to dealers.
Krishna Medical: The stock ended with gains of over 3 percent and has also risen in three out of the last four trading sessions. Dealers indicate that selling pressure in the stock from a large FII is largely over.
Techno Electric: Shares ended with gains of 2.6 percent on Tuesday and have now gained in six out of the last seven trading sessions. The stock has gained 11 percent during this period. The street is anticipating a large order win soon for the company, dealers said.
(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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