Buzzing Stocks: These two Tata Group stocks witnessed frenzied buying today; do you own them?
Bucking the negative trend in markets, the following two Tata Group stocks witnessed frenzied buying in today's volatile trading session.
On Thursday, Indian equity markets opened on a sombre note and further slid into the red territory in the latter half of the session. Frontline indices Nifty 50 and Sensex recorded losses of more than 1 per cent each.
Bucking the negative trend in markets, the following two Tata Group stocks witnessed frenzied buying in today's volatile trading session.
Tejas Networks - Shares of the telecom equipment major zoomed more than 8 per cent to record a fresh 52-week high of Rs 668.95 per share on BSE. The company seems to be firing on all cylinders as the stock has rallied more than 25 per cent over the last 5 trading sessions. Two weeks ago, the company has announced that it had acquired the remaining 93,571 equity shares in Saankhya Labs at Rs 454.19 per share by paying Rs 4.25 crore through secondary purchase. With the said transaction, it acquired the entire 62,51,496 equity shares or 64.4 per cent stake in Saankhya, for Rs 283.94 crore, on a fully diluted basis.
Nelco - Shares of India's leading satellite communication service provider locked at 5 per cent upper circuit, recording a fresh 52-week high of Rs 1,038.85 per share on the bourses. Intelsat, the operator of one of the world’s largest integrated satellite and terrestrial networks and leading provider of inflight connectivity (IFC), announced last week the beginning of Intelsat’s inflight connectivity services in Indian skies through an agreement with Nelco. Nelco has been offering the Aero IFC services for more than two years with plans to introduce these services to more airlines in collaboration with its global partners.
Watch out for these 2 Tata group stocks in tomorrow's trading session!