2 Stocks That Defy Market Carnage

On expected lines, the Sensex in the opening trade lost over 1600 points and Nifty was dragged to 9900 points. There is 19.5% decline on the Sensex from the peak and after the US markets moved into the bear territory, Indian markets are heavily sold off.

2 Stocks That Defy Market Carnage

But still in a sea of red stocks, two of the stocks that managed to be in the green include:

1. Lakshmi Vilas Bank:

Into the cash-starved bank, Kotak Mahindra has shown interest to buy a substantial stake and even in the market that opened with a sharp gap-down, the stock of Lakshmi Vilas Bank was up 4.88% or Rs. 0.70 at Rs. 15.05 per share.

2. Tata Power:

It is another stock that has defied the sea of red across indices and is still up by almost over 6%. This is as the company has deferred its plants to shut down the Mundra plant given the government's assurance to provide some relief. The plant supplies power to Gujarat, Haryana, Rajasthan, Punjab and Maharashtra

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