Bharti Airtel (Down 4.90%)
Shares of Bharti Airtel fell 4.90% on Zain acquisition concerns. Bharti has offered $10.7 billion for Zain’s telecom operations in 15 countries. Zain, Kuwait’s biggest phone company, said it expects a return of as much as $5 billion from selling most of its African assets to Bharti.
Punj Lloyd (Up 5.29%)
Shares of Punj Lloyd rose 5.29% after the National Highways Authority of India came out with new bidding norms. The new norms bar bidders, who have already been awarded three or more projects, from bidding for future projects if they have not completed financial closure.
Brandhouse Retail (Up 12.19%)
Shares of Brandhouse Retail surged 12.19% after investment analyst Ashish Chugh recommended a buy on its stock on PowerYourTrade.com. He said the stock is trading around PE (price to equity) multiple of six times. The company is also grossly undervalued, he said.
Shivam Autotech (Up 17.26%)
Shares of Shivam Autotech Ltd soared 17.26% on Tuesday after the company told CNBC-TV18 that its biggest customer is Hero Honda Motors Ltd. The firm is also targeting Bosch Ltd and other multinational firms in the automobiles sector.
SMS Pharma (Up 6.57%)
Shares of SMS Pharmaceuticals Ltd rose 6.57% after the company told CNBC-TV18 that it is venturing into active pharma ingredient and formulation in the oncology segment. It is targeting the US and European markets.
Gujarat Alkalies (Up 10.67%)
Shares of Gujarat Alkalies and Chemicals Ltd surged 10.67%, helped by a recovery in caustic soda prices. Caustic soda prices are expected to improve on the back of improved demand from March.