Markets saw constant selling pressure in trade today, after the entire week seeing stocks move in a narrow range. However, select stocks jumped in trade today and here are a few of them.
Shares in Orchid Pharma jumped 20 per cent and was locked at the upper end of the circuit filter with only buyers in the counter. Orchid Pharma Limited has informed the Exchange that 'Orchid has received the Establishment Inspection Report (EIR) from US FDA based on the successful inspection of the Active Pharmaceutical Ingredients (API) manufacturing facility located at SIDCO Industrial Estate, Alathur Kanchipuram District, Tamil Nadu, India. This facility was inspected by US FDA in May.
The shares were last trading at Rs 21.35 with only buyers in the counter.
Check stock quote of Orchid here
OM Metals and Infra
Shares in OM Metals and Infra surged 17 per cent, after the company completed an investor presentation on Wednesday. According to the presentation the company has a robust order book of almost Rs 730 crores. The shares of the company were last seen trading at Rs 79, a jump of 17 per cent over the previous days closing.
OM Metals and Infra is a company that is engaged in heavy engineering, real estate and civil infrastructure. The presentation seems to have gone down well with the investors who lapped up the shares.Check stock quote of OM Metals here
Shares in SMS Pharma gained 6 per cent in trade, after reports that the board of directors of the company would meet to consider contract research and contract manufacturing between the company and Chemo SA of Swizerland. The shares were last seen trading at Rs 107, a jump of 16 per cent over the previous close of Rs 91.90 on the NSE. There were also heavy volumes in the counter. SMS Pharma is an integrated pharma company with a presence in more than 70 countries. Check stock quote of SMS Pharma here
GOCL Corporation was another stock that saw a significant jump in its share prices. In fact, the company's shares topped the value chart on the BSE in early morning trade, among the non index stocks. The shares of the company were last seen trading at Rs 572 on the NSE, a jump of 14 per cent. The company is part of the Hinduja Group and is engaged in energetics, mining and property development. The reasons for the sharp jump in the share price was now known.
India Tourism Development Corporation (ITDC) jumped as much as 11 per cent in trade after a business newspaper reported that as part of the disinvestment exercise, the Centre decided to exit three ITDC hotels including Jaipur Ashok and handover them to the state governments concerned. The stock of ITDC was last seen trading at Rs 633 in trade. There were also heavy volumes in the counte
ITDC is a hospitality and retail company owned by Government of India.
Bhagyanagar India was another stock that saw a sharp rally in trade on the back of heavy volumes. The shares were last trading at Rs 35.35 on the NSE, up 10 per cent in trade. Again, it was difficult to ascertain the reasons for the sharp jump in the share price of the company. Bhagyanagar India is among the top companies producing copper products in India. The Company deals in Copper products such as Copper Rod, Strips, Pipes, Busbars, Sheets etc.
Dr Reddy's Labs
Among index stocks, Dr Reddy's Labs jumped after a Morgan Stanley upgrade on the stock. In fact, the foreign brokerage upgraded the stock to ‘Overweight' from ‘Equalweight'; and also hiked target price to Rs 3,133 from Rs 2,798. The firm expects earnings recovery to happen at the company in 2019-2020. The firm also expects things to improve in the domestic market, following GST implementation.
The stock of Dr Reddy's was last trading at Rs 2416, up 4 per cent in trade.