NMDC: The most active stocks on the NSE in terms of volumes were SJVN Ltd, YES Bank, NMDC Ltd, Indian Railway Finance Corporation Ltd (IRFC), and NHPC. These companies had a surge in value.
In Thursday’s trading session, stocks such as YES Bank Ltd, SJVN Ltd, Indian Railway Finance Corporation Ltd (IRFC), NMDC Ltd, and NHPC Ltd saw gains of up to 6 percent, with significant trading volumes on the NSE.
On the BSE, YES Bank shares edged up by 0.70 percent, reaching Rs 28.90. The trading activity involved a significant turnover of 6,60,74,552 shares valued at Rs 191 crore. As per a report by ET, the private bank was reportedly poised to reclaim approximately half of its dues from Katerra India by liquidating the company’s loans amid its ongoing corporate insolvency proceedings.
It was followed by Vodafone Idea, which transacted 6,47,89,371 shares worth Rs 101 crore. This stock gained 0.32 percent to Rs 15.60. On the NSE, NHPC shares surged 3.56 percent to Rs 91.70, with 6,27,45,641 shares valued at Rs 574 crore changing hands. SJVN increased 3.28 percent to Rs 124.50, with 3,83,26,328 SJVN shares worth Rs 478 crore changing hands.
IRFC shares went up 3.11 percent to Rs 159.10. A total of 3,01,69,036 IRFC shares worth Rs 480 crore exchanged hands.
NMDC, YES Bank, SJVN, IRFC, NHPC, and Zomato shares increase by 6% on the NSE due to heavy trading.
NMDC Ltd witnessed a trading volume of 2,54,73,419 shares, with the stock surging by 5.94 percent to reach Rs 249.55. Kotak Institutional Equities stated, We believe the current spot earnings run-rate is at its peak and should not be extrapolated due to potential downside risks to international iron ore prices and the expectation of moderated volume growth, projected at a 3.8 percent CAGR over FY2024-26E, which aligns with trends observed over the past decade. This brokerage has assigned a fair value of Rs 205 for NMDC.
Zomato shares experienced a 1.97 percent increase, reaching Rs 155.25. Trading activity for Zomato saw 1,99,30,675 shares exchanged, totaling Rs 311 crore. Additionally, stocks such as Suzlon Energy, IOC, Punjab National Bank (PNB), and Nalco also witnessed both an increase in share price and trading volumes on the NSE.
In terms of turnover, Vedanta Ltd took the lead with shares worth Rs 2003 crore from the Anil Agarwal-led company being traded. NHPC, NMDC, HDFC Bank, and State Bank of India were among the other stocks that topped the turnover chart on the NSE.
