Shares of NHPC ended 5.2 percent higher on strong volumes. Dealers suggest that buying flows from the foreign institutional investors (FII) desk has supported the stock.
Last week, Life Insurance Corporation of India (LIC) had diluted its shareholding in the company from 7.2 percent to 5.2 percent.
Remain In A Narrow Range
The market consolidated in a narrow range. Dealers suggest divergent trends within financials and that PSU banks are buzzing on fresh buying interest. Midcap index relatively outperformed on Tuesday, despite selling flows from the FII desk.
Flows on an institutional level have been muted on Tuesday with an eye on the monthly expiry and earnings from India Inc. Nifty could trade in a range of 17,200-17,800.
Besides NHPC, here are some other stocks that have been part of the dealing room chatter today:
Maruti Suzuki: Shares of the carmaker were one of the top gainers on the Nifty 50 index, ending over two percent higher. Dealers suggest that the stock is supported by buy flows from the FII desk. The company is scheduled to announce its financial results for the third quarter on October 28.
South Indian Bank: This stock is buzzing on the back of strong buying interest on the institutional desk on Tuesday. The shares ended 10.8 percent higher at Rs 13.1 apiece.
KPIT Tech: The stock ended 2.8 percent higher on Tuesday. Dealers suggest the stock has been buzzing on buying momentum at the FII desk. The stock has surged as much as 11 percent this month.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha elections 2024: Pallavi Dempo, Jyotiraditya Scindia among richest candidates in third phase
May 2, 2024 2:50 PM
Bengali star Dev files nomination, promises to plant trees equal to number of votes he gets
May 2, 2024 2:27 PM