Markets were higher today, with global cues pretty robust. Here are a few stocks that are were in action and reacting to news. Not all of these stocks gained, as some even declined on newsflow.
Punjab National Bank
Shares in Punjab National Bank did not react to some positive clarifications from the bank on several quarters. The shares were down 2 per cent at Rs 110.55, despite firm market trend.
The bank clarified that no card data breach had been detected in PNB's infrastructure.
"Bank's security infrastructure is strong enough and Bank has taken all necessary technological steps to safeguard customer data. Bank has a board approved Cyber Crisis Management Plan in place which takes care of all aspects of customer protection, " it said in a release to the exchanges.
The bank has said that the reports on withdrawal restrictions of Rs 3,000 per customer is completely incorrect. It further said that report that Virat Kohli to discontinue as brand ambassador is incorrect.
After falling at the lower end of the circuit filter for the entire 5 trading sessions of last week, Gitanjali Gems was once again locked at the lower end of the circuit filter.
News of IT raids and attachment of bank FDs etc., pertaining to the group added to pressure on the stock. It maybe noted that the Gitanjali Group has been linked the PNB scam involving Nirav Modi, however, the group has denied any involvement.
Shares of Gitanjali were last trading at Rs 23.5, locked at the lower end of the circuit. Shares in excess of 1.2 crores were pending for sale. Check stock quote of Gitanjali Gems
Shares in Atlas Cycles were locked at the upper end of the circuit filter with only buyers in the counter.
The shares moved higher despite a drop in net profits at the company. Atlas Cycles saw its profitability fall to Rs 24.39 lakhs in the quarter ending Dec 31, 2017 from Rs 77.77 lakhs in the previous quarter ending Sept 30,2017.
Revenues at the company were placed at Rs 145.02 crores for the quarter ending Dec 31, 2017. The shares were last locked at Rs 196.80 on the upper circuit. There were outstanding buy orders in the counter to the tune of 61,000 shares.
Shares in Welspun Enterprises surged 4 per cent after the company appeared to be the lowest bidder for a project.
"National Highway Authority of India (NHAI) has, on February 23, 2018, made public opening of the Bids for the above referred project and the Company has emerged as the Lowest Bidder (L-1) at Bid Price of 1,536.39 crore. The Company has, however, not received any formal communication of acceptance of bid from NHAI or declaring it as the Selected Bidder. As and when the Company receives any communication from NHAI of it being the Selected Bidder it will make appropriate disclosures pursuant to the aforesaid Regulations and the Code," the company said in a release to the exchanges.
Shares in Sakuma Exports surged 2 per cent, after the company told the exchanges that it had expressed interest in acquiring Sakuma Exports.
The shares were up at Rs 202 on the National Stock Exchange.
Sakuma Exports is a leading Buyer, Processor, Marketer, Exporter and Importer of bulk agricultural commodities namely Sugar, Edible Oils, Oil Seeds, Pulses, Cotton and a number of specialty crops. SEL also offers innovative financial structured products which linked to physical commodities.
Shares in Bhageria Industries gained almost 4 per cent after a ratings upgrade from CARE.
The stock was last trading at Rs 309 on the NSE. Bhageria Industries is engaged in the manufacture of dyestuff.
The company commenced its operations by setting up a Vinyl Sulphone Plant at Vapi (Gujarat) with capacity of 540 T.P.A. which has now expanded to 3600 T.P.A. Subsequently Company has gone for further expansion in other Dyes intermediates & Dyestuffs.
Shares in Dena Bank were little changed after the bank issued shares to the Government of India on a preferential basis at Rs 16.89.