Shares of Heranba Industries slipped 3 per cent to hit a new low of Rs 606.55 on the BSE in intra-day trade on Tuesday, falling below its issue price of Rs 627 per share. The stock of agrochemicals company was trading at its lowest level since listing on March 5. It has now corrected 36 per cent from its high of Rs 944.95 touched on its debut day. Shares of Heranba Industries had made a strong debut on the bourses with the stock listing at Rs 900, a 43.5 per cent premium over its issue price. The initial public offer of the Gujarat-based firm was subscribed 83 times. The institutional investor portion was subscribed 67 times, the wealthy investors portion by 271 times and the retail investors quota 11 times.
Shares of Happiest Minds Technologies hit a new high of Rs 461.90 as they surged 14 per cent on the BSE in intra-day trade on Wednesday on the back of heavy volumes in an otherwise weak market. At 01:05 pm, the stock of IT consulting & software company was trading 12 per cent higher at Rs 453, as compared to a 0.67 per cent decline in the S&P BSE Sensex. The trading volumes on the counter more-than-doubled with a combined 8.04 million equity shares changing hands on the NSE and BSE. In the past seven trading days, the stock has rallied 33 per cent after its net profit nearly doubled to Rs 42.15 crore in the December quarter (Q3FY21), against Rs 21.38 crore in the year-ago quarter. Revenue grew 14.6 per cent year-on-year (YoY) to Rs 201 crore from Rs 176 crore in the previous year quarter.
Read more about ITC dips 3% as investors book profit post December quarter results on Business Standard. With today s decline, the stock of ITC has slipped 8 per cent from its 52-week high level of Rs 239
Shares of Tata Motors hit a 52-week high of Rs 205.20, up 4 per cent, on the BSE in Monday s session, surpassing its previous high of Rs 201.80, touched on January 15, 2020.
The stock of the Tata group commercial vehicles company outperformed the market on the expectation of improved earnings. In the past three months, Tata Motors stock has rallied 47 per cent as against a 21 per cent rise in the S&P BSE Sensex, while in the last six months, it has added 89 per cent as compared to a 34 per cent gain in the benchmark index.
In the month of December, Tata Motors reported a 21 per cent increase in total vehicle sales in the domestic market to 53,430 units.