Mid-Day Movers: As D-Street continues to bleed, these stocks are surging!

Welspun Enterprises Ltd, IIFL Ltd and Oriental Aromatics Ltd are gaining momentum in a pessimistic market.

As the trading week comes to an end, the tense environment in the global economies and India has affected the market and it has extended its losses. The S&P BSE is trading at 54,418.01, a 1.63 per cent decline. In this volatility, these stocks are buzzing in today’s afternoon trade!

Welspun Enterprises Ltd, an S&P BSE Smallcap company, operates in the infrastructure space with investments in oil & gas. The stock price has jumped 8.99 per cent after it informed that Actis, a global investor has purchased six operating highway toll road projects of the company for ~Rs 6000 crore. At 1:10 pm, the scrip is trading at Rs 109.15.   

IIFL Finance Ltd, an S&P BSE 500 company is engaged in the business of loans and mortgages along with its subsidiaries. The stock price has rallied 8.24  per cent, as the company announced that Abu Dhabi Investment Authority’s (AIDA) wholly-owned subsidiary will invest Rs 2,200 crore for a 20 per cent stake in IIFL’s housing loan arm. At 1:10 pm, the scrip is trading at Rs 356.10. 

Oriental Aromatics Ltd, an S&P BSE Smallcap company is engaged in the business of manufacturing fine chemicals i.e. camphor, perfumery & speciality aroma chemicals, fragrances and flavours. The stock price has rallied 13.17 per cent, as its subsidiary, Oriental Aromatics and Sons received environmental clearance for its greenfield project for manufacturing speciality chemicals and chemical intermediates. At 1:10 pm, the scrip is trading at Rs 595.45.