Three stocks that surged in volume after India's Fiscal Blueprint
This sudden spike in activity suggests a keen investor interest, potentially fuelled by specific budgetary announcements that resonated with these companies' prospects.
As the dust settles on India's Interim Budget 2024, the ripples of its pronouncements continue to stir the stock market. While the broader indices navigated their course, certain individual stocks witnessed a dramatic surge in trading volume during the last two hours of the session. This sudden spike in activity suggests a keen investor interest, potentially fuelled by specific budgetary announcements that resonated with these companies' prospects.
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GMR Airports Infrastructure Ltd
GMR Airports saw a steady intraday movement, opening at Rs 76.15 and reaching a high of Rs 79.95. The stock experienced a minor gain of 1.85 per cent compared to the previous close of Rs 78.35. Notably, the last half-hour witnessed an uptick in trading volume, suggesting increased market activity. Investors should monitor whether this surge in volume indicates a potential shift in the stock's momentum. The stock traded volume of shares was 3,99,19,389 on intraday, out of which 61,34,000 were traded in the last 30 minutes of trade.
Today the company has announced its quarterly result for Q3FY24.
NBCC (India) Ltd
NBCC exhibited significant intraday volatility, opening at Rs 131 and reaching a high of Rs 145. The stock closed at its day high, marking a substantial 12.01% gain from the previous close of Rs 129.45. In the last half-hour, a notable spike in trading volume was observed, signaling heightened investor interest. Traders may interpret this as a possible indicator of strong buying or selling pressure, warranting further analysis to determine the stock's future direction. The stock traded volume of shares was 16,94,38,889 on intraday, out of which 5,93,25,000 were traded in the last 2 hours of trade.
In-lined with budget announcement NBCC is involved in diverse projects, encompassing civil construction, infrastructure development for national security, civil sector infrastructure initiatives, implementation of Pradhan Mantri Gram Sadak Yojna (PMGSY), and developmental work in the Northeastern Region.
Housing And Urban Development Corp Ltd
Housing And Urban Development Corp demonstrated robust intraday performance, opening at Rs 173.55 and reaching a high of Rs 206.8. The stock closed at its day high, recording an impressive 19.99% gain from the previous close of Rs 172.35. Noteworthy is the surge in trading volume during the last half-hour, suggesting increased participation from market participants. Investors should carefully assess whether this surge in volume aligns with the overall trend and assess the potential implications for future price movements. The stock traded volume of shares was 18,52,98,230 on intraday, out of which 6,04,23,000 were traded in the last 2 hours of trade.
The government has maintained its commitment to the implementation of PM Awas Yojana (Grameen), edging closer to the ambitious target of three crore houses. The Finance Minister announced plans to extend this initiative, with an additional two crore houses slated for the next five years, addressing the housing needs arising from an expanding number of families.
In the housing and infrastructure finance sector, HUDCO is actively engaged, specializing in project finance, including retail lending, and providing consultancy services.
Disclaimer: The article is for informational purposes only and not investment advice.