- Ircon surged over 8 percent after the firm said that it will consider issuance of bonus shares on April 5 board meet.
- Adani Transmission was up 2 percent to hit a new high on Tuesday after the firm acquired Warora-Kurnool Transmission.
- The Sensex ended 1,128 points higher at 50,136 while the Nifty rose 338 points to settle at 14,845.
Here are the key stocks that moved :
Nazara Technologies: After making a strong debut on the stock exchanges, shares of Rakesh Jhunjhunwala-backed gaming firm Nazara Technologies declined to hit a 20 percent lower circuit on profit booking. The stock of Nazara Technologies got listed at a bumper premium of 80.74 percent to the issue price and made a high of Rs 2,024.90 apiece, gaining almost 84 percent over the issue price
Steel stocks: Shares of steel companies rallied with the Nifty Metal index gaining nearly 3 percent as analysts expect a further rise in steel prices going ahead. The stock price of JSPL, Tata Steel and JSW Steel 4-5 percent, while SAIL also rose 3 percent. Brokerage firm CLSA said after the significant outperformance of steel stocks over the past year, it saw a further upside in the steel stocks as risk-reward remains favourable
Adani Transmission: Shares of Adani Transmission was up 2 percent to hit a new high on Tuesday after the firm acquired Warora-Kurnool Transmission Limited (WKTL) from Essel Infraprojects for Rs 3,370 crore. The acquisition is expected to be completed in one month, subject to all necessary regulatory approvals and other consents. As per the agreement, WKTL will develop, operate, and maintain transmission lines aggregating to around 1,750 ckt km.
Ircon International: The share price of Ircon surged over 8 percent after the firm said that it will consider issuance of bonus shares on April 5 board meet.
News Source: CNBC TV 18
