IDBI Bank: After exiting the Reserve Bank of India’s prompt corrective action or PCA framework, IDBI Bank’s shares rose 10% in trade. With this, some of the lending curbs imposed on the bank by the banking regulatory would cease. This move comes in the heels of news flow that LIC is planning to sell its stake in the bank to ease its path to an eventual IPO later this year. There are also reports that both the government and LIC are planning on selling their stakes together.

Indian Energy Exchange: The electricity trading platform surged to a life-time high of Rs 349 during trade today a couple of days after it announced that National Stock Exchange and ONGC have bought stakes in the company’s subsidiary Indian Gas Exchange (IGX). This comes a few weeks after Adani Gas, Torrent Gas and GAIL announced stake purchases in IGX, taking the stake sale in the subsidiary to over 40%. The company’s monthly volumes of electricity traded also jumped 50% YoY in February 2020, aiding the stock’s movement.

Tata Power: Two news items have helped the Tata Power stock skyrocket in the past couple of days--one is the proposed setting up of an infrastructure investment trust or InvIT for its solar assets and the second is the news flow that the company is in plans to set up charging infrastructure for Tesla Inc in India. The company’s stock touched a 52-week high of Rs 114.50 today. 

Ambuja Cements: Mutual funds have been decreasing their holdings in Ambuja Cements. In February 2020, mutual funds sold nearly 40 lakh shares in the company. The last time mutual funds increased their stake on a month-on-month basis was September 2020.

Uflex: This company’s stock is up by 17.7% in the past one month after reaching its 52-week high. However, its valuation remains cheap relative to its historic averages despite the rally. The trailing twelve-month (TTM) price-to-earnings (PE) ratio is 4.4 times, against a historic average PE of 5.6 times, putting it in the buy-zone.