Dealing Room: Tata Steel, Glenmark, Jyothy Labs, Sequent Scientific

MUMBAI: ET Now spoke to dealers on institutional and high net worth investors’ activity in the dealing room. The following stocks were on their radar on unconfirmed reports:

Tata Steel:

Dealers are bullish after steel prices recovered significantly. Citi has upgraded the stock to buy with a target of Rs 430.

The stock was at Rs 381.70, up 2.11 per cent on the BSE. It touched a high of Rs 382 and a low of Rs 374.50 in trade so far.
Glenmark Pharmaceuticals:

A block deal of 35 lakh shares in Glenmark Pharma is expected soon.

The stock was at Rs 426.10, down 0.15 per cent on the BSE. It touched a high of Rs 430 and a low of Rs 422.45 in trade so far.

Jyothy Laboratories:

A domestic brokerage is recommeding the stock to clients. Dealers expect 10-15 per cent short term upside.

The stock was at Rs 173.65, up 10.11 per cent on the BSE. It touched 52-week high of Rs 183.65 and a low of Rs 159.20 in trade so far. Sequent Scientific:

The company is owned by promoters of Strides Arcolab. The buzz is of fund infusion post Strides sold-off off injectibles business.

The stock was at Rs 137.50, up 7.09 per cent on the BSE. It touched a high of Rs 141.20 and a low of Rs 126.45 in trade so far.

Aurobindo Pharma:

Desks indicate fund accumulation in the counter. FDA clearance for unit 4, 6 expected this month.

The stock was at Rs 131, up 2.46 per cent on the BSE. It touched a high of Rs 133.90 and a low of Rs 128.90 in trade so far.
Gujarat State Petronet:

The buzz is tariffs may be revised downwards.

The stock was at Rs 76.70, up 1.46 per cent on the BSE. It touched a high of Rs 76.80 and a low of Rs 74.35 in trade so far.
Disclaimer: The above report is based on market buzz and information given by dealers. Please consult your financial advisor before taking any position in the stocks mentioned