These stocks are surging on Monday afternoon!
United Spirits Ltd, Mahindra & Mahindra Ltd, and Larsen & Toubro Ltd are today’s mid-day movers.
The fresh trading week has begun on a positive note as at 2:05 pm the S&P BSE Sensex is at 55894.21, up by 1.84 per cent. The following companies are in focus today afternoon. Let us find out why?
United Spirits Ltd is the largest spirits company in India that manufactures a wide range of whisky, vodka, rum and other spirits. The company has announced the sale and franchising of more than 32 brands to Inbrew Beverages, a Singapore based company for a total cash consideration of approximately Rs 820 crore. It expects to finish the transaction by the end of the quarter ending September 30, 2022. At 2:05 pm, the stock price, jumped 5.72 per cent and the scrip is currently trading at Rs 823.15.
Mahindra & Mahindra Ltd is one of the most diversified automobile companies. It has launched the ‘New Bolero City Pik-Up’, an addition to its existing ‘Pik-Up’ range, in West Bengal. Mahindra Group has increased its stake in Carnot Technologies, an ag-tech start-up, to approximately 69 per cent. In Q4FY22, M&M reported standalone net sales for the quarter at Rs 17,124 crore, a surge of 28 per cent YoY, and 12.4 per cent QoQ. It saw a 17 per cent (YoY) gain in standalone profit at Rs 1,167 crore for Q4FY22 in comparison with Rs 998 crore in the same quarter last year. At 2:05 pm, the stock price rallied 5.68 per cent and the scrip is currently trading at Rs 1007.30.
Larsen & Toubro (L&T) Ltd is a major technology, engineering, construction, manufacturing and financial services conglomerate, with global operations. L&T has secured one more package in the Chennai Metro Rail Projects. L&T has been awarded Package C3 (CP08 EV01) of Phase-II Chennai Metro Rail Projects (CMRL). This elevated metro rail package is to be constructed in 35 months. L&T is already executing four packages of CMRL Phase II. At 2:05 pm, the stock price, surged 3.56 per cent and the scrip is currently trading at Rs 1657.45.