These stocks are witnessing positive momentum on Tuesday afternoon!
AJR Infra and Tolling Ltd, AMJ Land Holdings Ltd, and Coal India Ltd are today’s mid-day movers.
The Indian stock market extended gains on Tuesday, while the Rupee recorded an all-time low of Rs 77.69 against the US dollar. At 12:55 pm, the S&P BSE Sensex is at 54,005.67 witnessing a 1.95 per cent gain. Even though today’s main focus is on the market debut of Life Insurance Corporation, let’s find out which stocks were the mid-day movers!
AJR Infra and Tolling Ltd is an infrastructure project development company participating in the development of infrastructure projects on a public-private partnership (PPP) basis with a diverse portfolio across the road, power, and port sectors. On 13th May, its step-down wholly-owned subsidiary Ras Cities and Townships (RCTPL) entered into a Memorandum of Understanding, with the Promoters of Sony Mony Developers (SMDPL) to acquire 10,000 equity shares of Rs 10 each of SMDPL, being 100 per cent of total paid-up capital of SMDPL. At 12:55 pm, the stock has jumped 4.57 per cent and the scrip is currently trading at Rs 1.83.
AMJ Land Holdings Ltd is in the business of Real Estate Development in Pune and the generation and sale of power from its three Wind Power Plants. AMJ Land Holdings has received approval from the board of directors to invest/subscribe in additional equity shares of AMJ Realty, a wholly-owned subsidiary of the company, which is in the real estate business to the extent of Rs 95 lakh in a phased manner. Equity shares of AMJ Realty will be acquired at a face value of Rs 10 per share. At 12:55 pm, the stock rallied 9.65 per cent and the scrip is currently trading at Rs 28.40.
Coal India Ltd is mainly engaged in the mining and production of Coal and also operates Coal washeries. In the next few weeks, the company might probably invite bids from the private sector to reopen 20 mines that were closed. At 12:55 pm, the stock surged 7.14 per cent and the scrip is currently trading at Rs 183.90.