NTPC Gains After Morgan Stanley Upgrades Stock Rating, Hikes Price Target Shares of NTPC rose as much as 3 percent to Rs 118.75. That comes after brokerage firm Morgan Stanley upgraded the stock rating to ‘Overweight’ from ‘Equal-weight’ and hiked price target to Rs 152 from Rs 146.7.
BHEL Fall After Crisil Downgrade Shares of Bharat Heavy Electricals fell as much as 1.8 percent to Rs 54.45. The stock extended declines for the second consecutive trading session. Crisil downgraded the rating of long-term bank facilities to ‘AA’ from ‘AA+’ with outlook revised from ‘Negative’ to ‘Stable’ due to company’s weaker than expected operating performance and the continued decline in net cash levels of the company during the first half of the current financial year.
Laurus Labs Halt Two-Day Losing Streak; Shares Gain 2% Shares of Laurus Labs halted their two-day losing streak. The stock rose as much as 2.1 percent to Rs 340. The company has received three observations on the pre-approval inspection for an API manufactured at its two units in Visakhapatnam by the U.S. Food and Drug Administration.
RITES Fall 3% On OFS Plans Shares of RITES fell as much as 3 percent to Rs 296.40. The government is looking to raise up to Rs 1,100.6 crore via the offer-for-sale mechanism. The center plans to sell up to 3.75 crore shares or a 15 percent stake at a floor price of Rs 293.5 per share, which is at a discount of 4 percent to the closing price on Nov 21.
The government’s stake may fall from 87.4 percent to 72.4 percent. The offer-for-sale opens on Nov. 22 and closes on Nov. 25.
NEWS ALERT | Morgan Stanley adds ITC & Motherson Sumi to it's 'Focus List'
-- Removes Asian Paints & CONCOR
NEWS ALERT | Bharti & Voda Idea likely to file review applications against the AGR judgment of SC: sources to CNBC TV18
-- To file a petition today at 4 pm
Rupee Opens: The Indian rupee opened flat at 71.75 per dollar on Friday versus Thursday's close 71.76.
TOP GAINERS & LOSERS -
NTPC, Sun Pharma, ITC, Nestle, ICICI Bank, Coal India, Tata Motors are among major gainers on the Indices, while losers are Zee Entertainment, Bharti Airtel, Asian Paints, and BPCL. Among sectors, except bank and IT, all other indices are trading higher.
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