Movers & Shakers on D-Street: Titan, BPCL, Godrej Consumer Products, Shasun Pharma, IRB Infra, Opto Circuits

The benchmark BSE Sensex closed at 22,324, down 184 points, while the NSE Nifty closed at 6652, down 62 points over the previous close. The advance-decline ratio favoured bears.

On the BSE, 1,493 stocks declined against 1,234 advances, while 137 remained unchanged. The INDIA VIX was up 1 per cent at 33.6. It hit a day’s high of 34.06 and low of 30.31.

IIFL rates BPCL as top pick in the OMC pack. The brokerage said that the company has rich upstream portfolio, which got further strength from the recent reserve estimate upgrade at its Mozambique block to 50-70 tcf of natural gas. Shares of BPCL ended higher by 1.1 per cent to close at Rs 473.

HDFC Securities has revised its price target for Godrej Consumer Products to Rs 810 and has recommended investors to buy stock on dips. The brokerage said Q4FY14 results were below expectations on revenue front.


However, profit growth was above projections, aided by lower A&P cost. Growth in homecare segment bounced back to high teens of 17 per cent after growing in single digits in Q3FY14. The stock closed 3.96 per cent lower at Rs 763.

Shasun Pharmaceuticals was locked at 10 per cent upper circuit to close at Rs 150, after the company announced that it has acquired global rights to develop and commercialise Ibuprofen from US-based ScolrPharma along with the global rights of analgesics Nuprin for an undisclosed sum.

IRB Infrastructure surged over 7 per cent to close at Rs 124 after the company said it bagged an order worth around Rs 2,300 crore from National Highways Authority of India (NHAI).

Opto Circuits gained 1.5 per cent at Rs 32.15, after company said it was planning to raise funds by way of issue of securities, up to an aggregate amount of $250 million.

Titan edged higher by 0.5 per cent to close at Rs 272, after reporting 11.6 per cent year-on-year jump in net profit at Rs 206 crore for the fourth quarter ended March 31, 2014.