DSIJ Mindshare

These stocks surged on Wednesday afternoon!
Shamita Nadkarni
/ Categories: Trending, Mindshare

These stocks surged on Wednesday afternoon!

ONGC Ltd, Hindustan Zinc Ltd, and Anand Rathi Wealth Ltd are today's mid-day movers.

Oil and Natural Gas Corporation Ltd is the largest crude oil and natural gas PSU in India. Singapore’s PACC Offshore Services (POSH) is working on a USD 100 million-plus subsea construction and installation project off Indias’ west coast for ONGC. The crude oil price increased on Tuesday, which happened due to lower supply by oil producers and easing of lockdown in China. This triggered the stock movement and today at 1:23 pm, the scrip is trading at Rs 173.80 witnessing a 2.90 per cent surge. 

Hindustan Zinc Ltd is the country's largest and world’s second-largest zinc-lead miner. It announced that in the fourth quarter they mined 2.95 lakh tons, which is the highest ever mined metal production. Moreover, it has planned to invest Rs 350 crore to develop up to 200 MW renewable energy capacity through a special purpose vehicle. This news has rallied the stock for a week, and today, at 1:23 pm, the scrip is trading at Rs 351.70, gaining 3.33 per cent.

 Anand Rathi Wealth Ltd is a leading non-bank wealth solutions firm. The share price hit a new 52-week high record after Q4 results. The PAT increased 239 per cent YoY to Rs 35 crore. The EBITDA increased by 216 per cent YoY to Rs 46 crore and the revenue increased by 23 per cent YoY to Rs 115 crore. The assets under management also grew by 23 per cent to Rs 32,906 crore. Today, at 13:23 pm, the scrip is trading at Rs 680.75, zooming by 11.12 per cent.

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