Among 282 Stocks-Yes Bank, TTML, Suzlon Hit The Upper Circuit
Mumbai, Oct 23: Among the 282 stocks that hit their respective upper circuit on the BSE on Friday. YES Bank, Suzlon Energy, Tata Teleservices (Maharashtra) (TTML), MTNL, Reliance Power. Reliance Infrastructure, Future Consumer, Indiabulls Integrated Services and Jet Airways (India).
Among the notable stocks that only had purchasers are queuing up were Indo Count Industries, Himatsingka Seide, Ramco Systems and Godawari Power & Ispat.
YES, Bank reached the 5 per cent upper circuit at Rs 13.35 on BSE ahead of Friday’s September quarter results.
For the second quarter ended September 2020 (Q2FY21), the Bank’s Board of Directors will likely meet. They would meet on 23 October 2020 to consider approving the Bank’s unaudited financial results. With a combined 110 million shares changing hands, the trading volume more than doubled. Pending purchase orders were for 14 million shares in the NSE and BSE.
TTML was locked in the upper circuit for the fifth straight day. It was up to 5 per cent at Rs 5.87 with its new 52-week high on the BSE.
From Rs 2.82 hit on October 16, 2020, the stock of the Tata group telecom services company has more than doubled.
Tata Group is looking at reviving Tata Teleservices by taking technological expertise.
The Tata SuperApp is likely to put the goods as well as services of the entire group under one platform. It will allow direct sales to customers. The nifty app will launch in December as per reports.
Jet Airways (India) shares have touched a 52-week high of Rs 51.15. After reaching the 5% upper circuit on BSE on Friday.
After the company’s committee of creditors (CoC) approved the resolution plan, the approval of Kalrock Capital-Murari Lal Jalan consortium, the stock gained 27 per cent in one week.
The Stocks Are Rising
On January 15, 2020, the stock surpassed its previous 52-week high of Rs 50.25. For the 12th straight day of trading on the bourses, it entered the upper circuit.
The stock has rallied 108 per cent from the level of Rs 24.60 on September 24, 2020, in the past 20 trading days. In contrast, during the same time, the S&P BSE Sensex was up 8 per cent.
The creditors’ committee approved the resolution plan of the Kalrock Capital-Murari Lal Jalan consortium. The e-voting concluded on 17th October 2020. Murari Lal Jalan and Florian Fritsch submitted the resolution plan. It was duly approved as an effective resolution plan. The CoC, according to section 30(4) of the Code,’ the resolution professional said in an exchange notice.
For the fourth straight day, Indo Count Industries was locked in the upper circuit, up 5% on Friday at Rs 163.50 on BSE.