Mid-day Movers: Future Lifestyle, Saregama India and Triveni Engineering are the BSE top gainers; here's why?
Shares of Future Lifestyle Fashions Ltd, Saregama India and Triveni Engineering & Industries Ltd have gained momentum in today’s trading session.
While markets opened with a gap down, as of noon, BSE Sensex was trading lower by 0.83 per cent.
Future Lifestyle Fashions Ltd jumps more than 4 per cent
Future Lifestyle Fashions Ltd is an integrated fashion company with a presence across key segments within the fashion industry i.e. designs to distribution. The share prices of the subsidiaries of future group have got upward momentum after Reliance Industries has stepped in to rescue Future Retail, taking over the operations of its stores and offering jobs to its employees, even as the Kishore Biyani-led group is locked in a bitter legal wrangle with e-commerce major Amazon. The share price has increased by 4.65 per cent in the first half of today's trading session.
Saregama India gained more than 2 per cent
Saregama India Limited, India's oldest music label company has jumped 2.73 per cent in the first half of today's trading session. The company is in an uptrend since the approval of stock split from the board of directors. The rationale behind the decision is to improve the liquidity of the company's shares in the market and to make it affordable to the small retail shareholders as also to broad base the small retail shareholders, said the company in a regulatory filing.
Triveni Engineering and Industries Ltd ascends more than 4 per cent
Triveni Engineering and Industries is engaged in diversified businesses, mainly categorised into two segments sugar and distillation of alcohol. The share price of the company has rallied more than 4 per cent in the first half of today's trading session. The share price of sugar stocks is increasing after the speculation of an increase in petrol prices after state elections. Triveni Engineering and Industries is in upward momentum for last 5 trading sessions and it has gained 12 per cent.