Indian benchmark indexes closed in the green on Monday as the market continued its outperformance. The NSE Nifty50 ended at 17665.80, 126.35 points higher while the benchmark BSE Sensex closed at 59245.98, 442.65 points up. Here are the key stocks that moved the most in today's trading session:
Reliance Power Limited | Shares of Reliance Power Limited (RPL) jumped over 9 percent to Rs 23.30 after the company said it will raise long term resources up to Rs 1,200 crore ($150 million) from Varde Partners. Its stock ended 9.9 percent higher on the BSE.
Federal Bank | Federal Bank share price rose as much as 8.6 percent to trade at a lifetime high of Rs 129.75 per share on Monday after the bank refuted news reports suggesting a merger with Kotak Mahindra Bank. Its stock ended 3.4 percent up on the BSE at Rs 123.55 apiece.
JSW Steel | Shares of JSW Steel jumped as much as 3 percent in trade on Monday as Street sentiment remained positive on the stock after state insurer Life Insurance Corporation of India (LIC) raised its stake in the Sajjan Jindal-led steel firm. Among the top Nifty50 gainers, its stock ended 3.1 percent higher.
Reliance Industries Ltd | Morgan Stanley has anointed Reliance Industries as its top pick as the brokerage firm bets on the company's fourth investment cycle this century. It has also raised its price target on the stock to Rs 3,085 from the earlier target of Rs 3,015. Its stock ended 1.6 percent up on the BSE.
Bajaj Auto | Nifty50's top loser, its stock ended 1.7 percent lower.
Paytm | Shares of Paytm’s parent firm One 97 Communications Ltd declined on Monday after the Enforcement Directorate raided the fintech firm’s Bengaluru premises over the weekend in connection with the Chinese loan app case. Its stock ended 2.6 percent down.
Olectra Greentech | Shares of Olectra Greentech climbed over 4 percent in early morning trade on Monday after the company bagged an order worth Rs 151 crore for supplying 100 electric buses to the Assam State Transport Corporation. Its stock ended 2 percent up.
Suzlon Energy | Shares of Suzlon Energy rallied over 17 percent on Monday amid heavy volumes. The upmove comes after the State Bank of India (SBI), on September 3, disclosed a typographical error in its earlier disclosure that claimed Suzlon promoter had created an additional pledge of 5.53 percent in favour of Adani Green Energy. In its recent disclosure, SBICAP Trustee clarified that the typographical error occurred in the target company's name and that the additional pledge has been created in favour of the SBICAP Trustee and not Adani Green Energy. Nifty500's top gainer, its stock ended nearly 19.9 percent higher.
Chalet Hotels | Shares of Chalet Hotels (CHL) climbed over 4 percent in early morning trade as the company announced on Friday that the company and its wholly owned subsidiary, Chalet Airport Hotel (as a developer), had executed a license agreement with Delhi International Airport regarding the construction, financing, management, operation, and management of a terminal hotel opposite Terminal 3 at the IGI Airport, New Delhi (Project). However, its stock ended 0.3 percent lower.