by Ritmbarah Arora
Vodafone Idea: The share price of Vodafone Idea skyrocketed 28.5% to Rs 7.5. Around 823.8 million shares in volume have been traded and is among the most traded shares in the stock market today. The stock price is up 34.2% since the last week and 86.3% since the last month.
The share price of Vodafone Idea started rising amidst the news that Google Inc. is considering picking about 5% stake in Vodafone Idea. The telecom joint venture of Vodafone Group and Aditya Birla Group is also in talks with private equity firms for potential investments, according to reports. A 5% stake sale could fetch Vodafone Idea around $101.5 million, as per the average price of the company’ stock. Vodafone Idea is listed in 39 screeners on Trendlyne.
IFCI: The stock price of IFCI rallied 18.5% to Rs 4.7 as of now. Around 8.3 million shares in volume have been traded so far. The share price of the company gained 17.5% since the last week and last month, per Trendlyne data.
The National Company Law Appellate Tribunal (NCLAT) has set aside the insolvency proceedings at Indu Techzone on the ground that lender IFCI had filed the insolvency petition after missing the deadline as per the Insolvency and Bankruptcy Code, as reported on May 29. IFCI is listed in 29 screeners on Trendlyne.
Rain Industries: Rain Industries’ share price jumped 17% to Rs 81.2 as of this writing. Around 5.6 million shares in volume have been traded so far. The stock price soared 24.8% since the last week and 8.6% since the last month.
The company reported an EBITDA jump of 52% YoY to Rs 558 crore in Q1CY20 post which the share price started rising. EBITDA margin expanded 780 basis points to 19.3% from 11.5% in the year-ago period. Working through high-cost raw material compared to Q1CY19 and appreciation of USD against the Indian Rupee resulted in healthy performance during the quarter. Rain Industries is listed in 31 screeners on Trendlyne.
IDFC First Bank: The share price of IDFC First Bank advanced 9.1% to Rs 21.9 while around 75.8 million shares in volume have been traded so far. The stock price increased 15.9% since the last week and has fallen 1.8% since the last month.
IDFC First Bank yesterday announced that it has come out with a new video-based KYC facility for onboarding of new customers. The customers can open savings bank accounts without the need to visit a branch office. The bank offers interest rate of upto 7% for savings bank account holders. IDFC First Bank is listed in 30 screeners on Trendlyne.
Tube Investments of India: The stock price of Tube Investments of India rose 7.4% to Rs 365.7. Around 1.8 lakh shares in volume have been traded so far. The share price is up 15.4% since the last week and 7.8% since the last month.
The company reported a PAT of Rs 74 crore for the fourth quarter ending March 2020 versus Rs 55 crore in the same quarter, last year. Profit before tax for the fourth quarter ending March 2020 was Rs 108 crores versus Rs 86 crore for the corresponding quarter, previous year. Total revenue of the company fell 23% to Rs 959 crore compared to Rs 1,224 crore in the year-ago period. Tube Investments of India is listed in 33 screeners on Trendlyne.