Market Movers: As weakness persists, these stocks gained in todays session!
Reliance Ind Infrastructure, Apollo Pipes and Thermax top Group A.
As markets continue to trade in weakness, for the third straight session in the week the benchmark indices S&P BSE Sensex closed below by 0.4 per cent or 237 points at 58338.93 while Nifty50 at 17530.30 shedding 17475.65 points or 0.3 per cent.
Auto, banks and financials were the sectors in weakness while Oil & Gas stocks surged on the back of a rise in the global crude prices. S&P BSE Midcap traded lower by 0.2 per cent at 24985.25 while BSE Smallcap closed at 29521.60, a gain of 0.27 per cent.
However, Reliance Ind Infrastructure, Apollo Pipes and Thermax witnessed positive action in today’s session.
Reliance Industrial Infrastructure showed a strong rally of 20 per cent in today’s session to hit the upper circuit of 20 per cent at the closing bells at Rs 971.15. A part of the Reliance Group of Companies, the company is mainly engaged in the business of setting up/operating Industrial Infrastructure. The company is also engaged in related activities involving leasing and providing services connected with computer software and data processing.
Apollo Pipes zoomed 16.91 per cent in today’s session to emerge as the second-biggest gainer in Group A. The stock logged its intraday high and low at Rs 613.15 and Rs 517.30, respectively and closed at Rs 602.60. The company manufactures a wide variety of PVC pipes that meet the requirements for infrastructure sectors like Transport of Oil and Gas transmission.
Thermax gained 14.70 per cent in today’s session and closed at Rs 2285. The stock logged its intraday high and low in today’s session at Rs 2347 and Rs 2003.30, respectively. The company has bagged an order of Rs 522 crore for utility boilers and associated systems for a grass root refinery and petrochemical complex in Rajasthan, India. The order includes two units of 260 TPH high-pressure utility boilers along with allied auxiliaries to be designed and manufactured by Thermax Babcock & Wilcox Energy Solutions (TBWES), a wholly-owned subsidiary of the company.