As domestic bourses rebound, these three stocks are in the limelight!

Larsen and Toubro Ltd, Hind Rectifiers Ltd and State Bank of India are today’s mid-day movers.

After stressful days the markets have finally shown some relief after the US Federal Reserve increased the interest rates by 50 basis points and not the anticipated 75 basis points. At 1:20 pm, the S&P BSE Sensex is at 56,176.96 witnessing a 0.91 per cent gain. These stocks are gaining on Thursday afternoon.  

Larsen and Toubro Ltd is a multinational conglomerate which is primarily engaged in providing engineering, procurement and construction solutions in sectors like Infrastructure, Hydrocarbon, Power, Process Industries and Defence, Information Technology and Financial Services in domestic and international markets. The Railways Business of L&T Construction has secured a contract from the National High-Speed Rail Corporation to construct 116 km route of High-Speed Ballast less Trackwork for the Mumbai-Ahmedabad High-Speed Rail Project, popularly referred to as the Bullet Train Project. At 1:20 pm, the stock has jumped 0.88 per cent and the scrip is currently trading at Rs 1648.

Hind Rectifiers Ltd is in the business of manufacturing other electrical equipment and manufacturing electrical motors, generators, transformers, and electricity distribution and control apparatus. It has gotten orders of Rs 57.79 crore in April 2022. At 1:20 pm, the stock rallied 1.12 per cent and the scrip is currently trading at Rs 198. 

State Bank of India is India’s largest PSU bank. It is mulling to raise long term funds in single/multiple tranches under Reg-S/144A, up to USD 2 billion through a public offer and/or private placement of senior unsecured notes in US dollar or any other convertible currency during FY23. At 1:20 pm, the stock surged 1.80 per cent and the scrip is currently trading at Rs 488.25.