As June begins with mixed sentiments, the following stocks are gaining momentum!
Bharat Dynamics, Rail Vikas Nigam, Action Construction Equipment, and NATCO Pharma Limited are today’s midday movers.
The Indian stock market opened on a green note and in a short while entered the negative territory only to rebound again. At 12:40 pm, the S&P BSE Sensex was at 55,573.55, a 0.01 per cent gain. In this volatile environment following stocks emerged as gainers!
Bharat Dynamics, which is a part of the S&P BSE 500, is engaged in the manufacturing of Surface to Air missiles (SAMs), Anti-Tank Guided Missiles (ATGMs), underwater weapons, launchers, countermeasures, and test equipment. The company has signed a contract worth Rs 2971 crore with the Ministry of Defence. The order is for the supply of ASTRA MK-I Beyond Visual Range (BVR) Air to Air Missile and associates equipment to the Indian Air Force & Indian Navy. At 12:40 pm, the stock price, jumped 5.33 per cent and the scrip is currently trading at Rs 825.55.
Rail Vikas Nigam, which is a part of the S&P BSE 500, is in the business of executing all types of railway projects. The company has bagged an order worth Rs 560.26 crore from the Northeast Frontier Railway, regarding the Construction of Single Line BG Tunnel No. 06. At 12:40 pm, the stock price rallied 2.62 per cent and the scrip is currently trading at Rs 33.25.
Action Construction Equipment, which is a part of the S&P BSE SmallCap, is the leading mobile crane manufacturing company in India. The company has received an order for the supply of 40 numbers Backhoe Loaders from Border Road Organisation, Ministry of Defence. At 12:40 pm, the stock price, surged 2.82 per cent and the scrip is currently trading at Rs 204.25.
NATCO Pharma Limited, which is a part of the S&P BSE 200, is a vertically integrated, research and development-focused pharmaceutical company engaged in developing manufacturing, and marketing complex products for niche therapeutic areas. Natco Pharma has launched the first generic version of Nexavar (Sorafenib) Tablets in 200 mg strength today in the US market. At 12:40 pm, the stock price, jumped 3.10 per cent and the scrip is currently trading at Rs 713.50.