Magma Fincorp, IGL, MGL, Blue Star to Auto Stocks – here are top Buzzing Stocks today

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The Indian benchmark indices were trading with slight gains in the Thursday’s range-bound session, ahead of the weekly options expiry. At 12:38 pm, the S&P SENSEX was trading around 51,439.73 up 130.34 points or 0.25%, while Nifty 50 index was trading 38 points or 0.25% up at 15,144.50. Hindalco up 3.56% was the top Nifty 50 gainer at the moment and was followed by Reliance, GAIL and Sun Pharma (all three up over 2%). On the other hand, Titan slipped 3.03% after the announcement of its December quarter results. Meanwhile, there are certain stocks which were in action in either direction based on reports linked to them. Here is a list of few such stocks:

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Blue Star (up 1.77%): Shares of the air conditioning and commercial refrigeration major, Blue Star Limited, was trading higher as the company has announced the launch of a new range of commercial refrigeration products and solutions which are ideal for storing vaccines.

Bata India (down 3.94%): Shares of Bata India skid in the intra-day trade today on weak earnings show in the December quarter.

Titan (down 3.03%): The stocks of Titan was trading low the announcement of its December quarter results.

Aurobindo Pharma Ltd (down 3.66%): The shares of the company were trading down after the company has reported its December FY22 results.

Indraprastha Gas (up 2.46%): Shares of Indraprastha Gas was trading higher today as the company has reported a rise in its profit in the third quarter even as volumes declined.

Mahanagar Gas (up 3.76%):  Shares of the company was trading higher based on the quarterly result that was reported on February 9, 2021.

Petronet LNG (up 0.35%): The shares of the company were trading marginally up as the company is scheduled to announce its quarterly earnings today.

Railtel Corporation of India: The initial public offering (IPO) of the telecom company Railtel Corporation will hit the market on February 16, 2021. The company has fixed a price band of Rs 93-94 per equity share. The public issue will close on February 18, 2021.

Magma Fincorp Ltd (up 9.99%): The shares of the Non-banking financial company were trading near a circuit as Adar Poonawalla-controlled Rising Sun Holdings will acquire a 60% stake in Magma Fincorp by subscribing to a Rs 3,456-crore preferential issue. Besides, other NBFC stocks were trading higher today.

Jan Auto Sales: Auto Stocks will be in focus today. Society of Indian Automobile Manufacturers (SIAM) has reported that the domestic sales of the passenger vehicles have increased by 11.14% to 2.76 lakh units in January 2021. Car sales declined by 1.2% to 1.53 lakh units. Two-wheeler’s sales went up 6.6% to 14.29 lakh units and three-wheelers sales declined 56.7% to 26,335 units. Utility Vehicles sales grew by 37.3% to 1.11 lakh units. SIAM in its report said passenger vehicle production has increased by 2.3% to 3.03 lakh units in the month.