Stock Specific Rallies Continue Amid Rangebound Market

Share Market News 20 June 2017

Todays market opened positive and continued yesterday's momentum but market closed on a negative note due to profit booking of some stocks. Sensex lost 14.04 points to 31297.53; Nifty lost 4.05 points to 9653.50.

Top Gainers

Tata Power by 5.51% to 82.35, Tata Motors by 3.13% to 466.50, Tata Motors DVR by 2% to 288.45, ONGC by 1.84% to 169.10 And Infosys by 1.55% to 944.25.

Top Losers

Power Grid Corporation by 2.07% to 208, Eicher Motors by 1.92% to 27898, Lupin by 1.74% to 1112, Bosch by 1.62% to 24650.65 And GAIL by 1.43% to 375.20.

Analysis Of Top Gainer & Loser

Tata power is the Top Gainer in today's market as the company announced that it is going to dilute its stake in Indian Energy Exchange through initial public offering as it is is one of the shareholders in IEE among others. IEE has recently filed its DRHP with market regulator SEBI to float its IPO.

Powergrid is the top loser due to the general profit booking was seen in its stock as it is trading at a lifetime high range. The stock still has potential to give more returns. Due to the positive impact of UDAY (the scheme for the distribution sector) and the Centres various reform programmes in states, investment would kick-start in sub-transmission and distribution.

Key Market News

There is positive news for infrastructure sector as Ministry of Power and Bureau of Energy Efficiency (BEE) has launched Energy Conservation Building Code 2017 (ECBC 2017) to enhance energy performance standards for new commercial buildings to be constructed across India. It provides sets parameters for builders, designers and architects to integrate renewable energy sources in building design with the inclusion of passive design strategies for current as well as futuristic advancements in building technology to further reduce building energy consumption and promote low-carbon growth.

There's a big step taken by Indian Govt in International Road Transports as it has a become the 71st country which has signed the United Nations TIR Convention, which was created on 14 November 1975 to simplify and harmonise the administrative formalities of international road transport. As it will boost trade and regional integration across South Asia and beyond, fast-tracking the region's potential to become a strategic trade hub.

Stocks to Watch

Nelco is on the upside while TCPL Packaging is on the downside.

Nelco is currently trading at Rs.96.35, up by Rs.16.05 or 19.99% from its previous closing of Rs. 80.30 on the NSE. The scrip opened at Rs.83.50 and has touched a high and low of Rs. 96.35 and Rs.83.20. respectively. So far 2646222(NSE) shares were traded on the counter. The current market cap of the Company is Rs.219 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.106.40 on 20-June-2016 and a 52 week low of Rs.68 on 22-November-2016.

TCPL Packaging is currently trading at Rs.521.65, down by Rs.30 or 5.44% from its previous closing of Rs.551.65 on the NSE. The scrip opened at Rs 560 and has touched a high and low of Rs.560 and Rs.511.10 respectively. So far 36429(BSE) shares were traded on the counter. The current market cap of the company is Rs.453 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.780 on 29-June-2016 and a 52 week low of Rs.486 on 09-June-2017.