Following the superb rally on Monday, stocks continued their momentum led by ICICI Bank, which surged 7 per cent. Here are a few other stocks that are seeing volatility, thanks to newsflow.
Talwalkars Better Value
This stock initially surged in trade and hit a high of Rs 68.35, but, dropped again and was last trading in the negative.
The movement in this stock is akin to the sharp movement seen in bitcoins. This stock has over the past one week, remained the most sort after speculative stock, thanks to high volatility. The shares today hit a high of Rs 262, before dropping to a low of Rs 203. The stock was last trading at Rs 214. The company is set to announce a buyback of its shares on May 10.
The shares of the company have doubled in the last 3 trading sessions, after hitting a low of Rs 97.
Shares of ICICI Bank surged 7 per cent, despite posting a 50 per cent drop in net profits. However, investors were satisfied on account of higher provisioning and a belief that the worst for the bank may now be behind.
Overall asset quality of the bank is not worsening, which is good news for investors. The shares of the bank were last trading at Rs 313, up 7 per cent in trade.
This stock was once again locked at the lower end of the circuit filter, with only sellers in the counter. The auditors of the company recently resigned and were replaced by another. Analysts are worried over corporate governance issues at the company. The shares of Vakrangee has now plunged from levels of Rs 555 to Rs 77. There could be more lower circuits in the stock fear analysts.