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Market Movers: Voda Idea crashes, Airtel, Piramal rally; 47 stocks flash ‘sell’ signals

BSE benchmark Sensex rose 12.81 points to 41,945 in listless trade.

, ETMarkets.com|
Last Updated: Jan 17, 2020, 05.26 PM IST
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Shares of Piramal Enterprises jumped 5.18 per cent to Rs 1,627.
Telecom stocks created a lot of buzz throughout Friday’s session a day after the Supreme Court had dismissed top telcos’ plea for a review of its AGR order, leaving them with barely a week to pay over Rs 1.47 lakh crore.

Bharti Airtel advanced over 5 per cent while Vodafone Idea sank 25 per cent as analysts feared a possible collapse of the latter’s business. Meanwhile, Piramal Enterprises gained 5 per cent after it decided to sell a part of its business.

Broader market indices continued their momentum. BSE benchmark Sensex rose 12.81 points to 41,945 in listless trade while NSE’s Nifty slipped 3.15 points to 12,352.

"As anticipated, midcaps and smallcaps outpaced the broader market due to a fall in economic risk and revival in business sentiment. The main indices were impacted by the AGR verdict, as it had an effect on telecom and banking sectors,” said Vinod Nair, Head of Research, Geojit Financial Services.

Here is a lowdown of the movers and shakers of Friday’s session on Dalal Street:

Piramal shares jump 5%
Shares of Piramal Enterprises jumped 5.18 per cent to Rs 1,627 after the company said it has signed an agreement for the sale of its Decision Resources Group (DRG) business to US-headquartered Clarivate Analytics for $950 million (over Rs 6,745 crore).

Kalpataru shares gain 2%
Shares of Kalpataru Power Transmission rose 1.61 per cent after it said its wholly-owned subsidiary has successfully connected the Alipurduar–Siliguri Line with the interconnection facilities of the grid.

Jets to sell Netherlands biz
Bankrupt Jet Airways plans to sell its Netherlands business to KLM Royal Dutch Airlines, according to a regulatory filing. Shares of the company tanked 4.92 per cent in Friday’s trade.

Adani Green hits upper circuit
Adani Green Energy and Azure Power emerged successful bidders in Solar Energy Corporation of India’s first manufacturing-linked solar tender, a top government official said on Friday. Shares of Adani Green jumped 4.99 per cent to Rs 188.35 on the news.

RIL gains 3% ahead of Q3

Shares of Reliance Industries (RIL) settled nearly 3 per cent higher on Friday ahead of its December quarter financial results due later in the day. The oil-to-telecom behemoth is expected to report double-digit profit growth in Q3 of FY20.

Voda Idea sinks 25%
Shares of Vodafone Idea plunged 25.21 per cent to Rs 4.51 after the Supreme Court dismissed a petition filed by telecom companies for a review of its AGR order. The company owes the government Rs 53,000 crore.

Bharti Airtel jumps 5%

Bharti Airtel was the biggest gainer among Sensex stocks as it gained 5.47 per cent to Rs 500 on hopes that it would gain market share in case of further consolidation in the industry.

Who moves my Sensex?
Reliance Industries and Bharti Airtel were the biggest positive contributors to Sensex, adding 176 points. However, this was not enough to lift the index significantly, as the HDFC twins and other bank stocks bled over 165 points.

Broader indices extend rally
Broader market indices further extended their winning streak. Nifty Midcap Index gained for the ninth straight session and closed 0.49 per cent higher at 18,073. Nifty Smallcap Index gained 0.27 per cent to 6,288, taking its winning run into the seventh session. Nifty500 edged 0.09 per cent higher to 10,118.

Most active stocks
Bharti Airtel was the most active security on NSE in terms of transaction value. It was followed by Reliance Industries, SBI, IndusInd Bank and HDFC Bank. In terms of volume of transactions, Vodafone Idea topped the charts followed by YES Bank, Bharti Airtel, SBI and Dish TV.

47 stocks give ‘sell’ signals
Nearly 50 stocks gave ‘sell’ signals on BSE as they crossed below their MACD Signal line. They include IDFC First Bank, Tata Steel, SpiceJet, JSW Steel, TCS, CEAT, Nippon Life AMC, Suven Life Sciences and Roto Pumps, among others.

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