On a day with mixed market sentiments, these three stocks surged!

ITD Cementation India, Infibeam Avenues, and Forbes & Company are today’s day movers!

On Wednesday the Indian stock market was volatile. The market which extended losses in the morning showed some signs of recovery after the Reserve Bank of India hiked that policy rate by 50 basis points, much aligned with the market’s expectations. Despite showing some signs of positivity the market again witnessed a fall and the S&P BSE Sensex ended at 54,892.49, a decline of 0.39 per cent. 

As oil refinery companies stole everyone’s attention in the past two trading days, here are three other companies that also emerged as gainers:   

ITD Cementation India is a company involved in construction and civil engineering. ITD Cementation India has received a Letter of Intent (LoI) cum Notice to proceed with the execution of civil and associated works on an EPC basis to construct a six-lane Greenfield Expressway in Uttar Pradesh (UP) valued at Rs 4,850 crore. This is the largest order the company has received to date. The share price of the company jumped 8.24 per cent and the scrip ended at 66.30. 

Infibeam Avenues is engaged in providing online retail services. The company has incorporated a wholly-owned subsidiary, namely ‘Infibeam Avenues Australia’ in Australia which will carry out business in the online digital payments and fintech services domain. Infibeam Avenues Australia was incorporated on June 06, 2022, and has not yet commenced its business operations. The share price of the company rallied 3.89 per cent and the scrip ended at Rs 15.50. 

Forbes & Company has three main businesses; namely engineering, shipping and logistics, and business automation. It has completed the transaction for the sale of 15,394.50 square meters of land at Chandivali with Equinix India (Equinix) and received the entire consideration of Rs 235 crore for the same. The share price of the company surged 8.62 per cent and the scrip ended at Rs 400.