Market Movers: IndiGo tanks; IOL, Navin Fluorine jump; 183 stocks at 52-week lows

Shares of Navin Fluorine soared on Tuesday after the company won a Rs 2,900 crore order from a global firm. IOL Chemicals and Pharmaceuticals continued its rally, jumping a further 5 per cent.

BSE flagship Sensex shed 82 points to 40,281 while NSE barometer Nifty dipped 32 points to 11,797. Broader market indices traded in line with their headline peers, as Nifty Smallcap and Nifty Midcap indices fell 0.21 per cent and 0.230 per cent, respectively.

Analysts expect the weak trend to continue in the market for a while. “Coronavirus is still rattling sentiment across the globe. On the domestic front, a weaker-than-expected GDP print for Q3FY20 —scheduled to be released on Friday — could further dampen investor confidence. We suggest a buy-on-dips approach in fundamentally sound stocks,” said Ajit Mishra, VP - Research, Religare Broking.


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

Adani to bid for Air India?
Billionaire Gautam Adani's energy and infrastructure conglomerate is considering a bid for Air India and is pouring into bid documents before finalising a plan, PTI sources said. Shares of Adani Enterprises slipped 0.7 per cent to Rs 246.

TVS Motor’s virus jitters
Shares of TVS Motor Company fell 0.26 per cent to Rs 436.35 after the company said supply chain disruption due to coronavirus outbreak in China has affected 10 per cent of its planned production for this month.

Hudco may raise Rs 28k cr
State-owned Housing and Urban Development Corporation (Hudco) said its board will meet this week to consider raising up to Rs 28,000 crore through issue of bonds. The stock fell 2.02 per cent to Rs 31.60.

Gain from pain meds for IOL
Shares of IOL Chemicals and Pharmaceuticals, the world’s biggest producer of ibuprofen, jumped 5.09 per cent to Rs 268 after the company said February is set for its best month in more than two years as the prolonged shutdown of China’s Hubei province boosted prices of the non-prescription painkiller.

Navin Fluorine soars 20%
Shares of Navin Fluorine surged 20 per cent and hit upper circuit at Rs 1,455 after it bagged a Rs 2,900 crore order from a global company for manufacture and supply of a High Performance Product in the fluorochemicals space. The contract is for a period of 7 years and this product is not part of Navin Fluorine’s existing product portfolio.

IndiGo shares nosedive
Shares of Interglobe Aviation tanked 4.68 per cent to Rs 1,376.70 after media reports said the market regulator has found undisclosed related-party transactions in its preliminary enquiry.

Most active stocks
Reliance Industries was the most active stock in terms of value of transactions followed by SBI, Indiabulls Housing Finance, IRCTC and HDFC Bank. In terms of volume of transactions, Vodafone Idea topped the charts while YES Bank, Suzlon Energy, GMR Infra and Tata Motors were among others in the list.

Who moved my Sensex?
Reliance Industries was by far the biggest culprit today bleeding more than the fall in the Sensex. The scrip shed 86 points, more than the combined 87 points shed by the next five stocks—HDFC Bank, Larsen & Toubro, HCL Tech, ITC and Sun Pharma.

Pharma index biggest loser
Nifty Pharma was the biggest sectoral loser on NSE, falling 2.21 per cent to 7,936. The fall was led by Piramal Enterprises that slid 4.46 per cent and Biocon that shed 3.42 per cent. Among other sectoral losers were Nifty Media and Nifty Auto.

183 stocks at 52-week low
Over 180 shares hit their year-lows during Tuesday trade. They include Bandhan Bank, Canara Bank, Gillette India, Hero Moto, HPCL, L&T, Oil India, PNB, NBCC and LIC Housing Finance, among others.