Trading Desk: The movers and shakers on D-Street

The rally in the equity market continued for the third straight day as the Sensex rose as much as 2.2% to a record high. All the sectoral indices ended in the green. While BSE Power index rose 3.26%, BSE Consumer Durables, Oil & Gas, IT and Capital Goods gained between 2.5% and 3%.

>> BHEL rose 10.25% to Rs 218.80 on reports that the Cabinet is likely to ratify the decision to sell 4.66% stake in the company through a block deal.

>> Edelweiss has maintained its ‘Hold’ rating on Torrent Pharmaceuticals and set a target of Rs 630. Shares of Torrent Pharma declined 1.45% to Rs 633.50 on Tuesday.

>> Shares of Dr Reddy’s declined 4% to Rs 2,611 after the pharma major reported weak fourth quarter numbers.

>> Emkay Global has maintained its ‘Hold’ rating on Gujarat Pipavav with a target price of Rs 88 as the brokerage says that earnings don’t fortify further upside. The Gujarat Pipavav stock rose 2.32% to Rs 108.25 on Tuesday.

>> Tata Steel surged 1.58% to Rs 426.90 on reports that the company is planning to raise $1.24 billion overseas through sale of bonds by one of its Singapore entities.

>> Angel Broking has recommended an ‘Accumulate’ rating on Finolex Cables with a price target Rs 169 based on 10x PE for FY2016E. Shares of Finolex Cables rose 6% to Rs 158.65.

>> NHPC rose 3.35% to Rs 20.05 after the company signed an agreement with Kerala State Electricity Board for the development of solar power projects in Kerala.

>> Elara Global has upgraded the rating of DB Corp to ‘Buy’ from ‘Accumulate’ and set a target price of Rs 344 as brokerage believes the stock now available at an attractive valuation of around 12x FY16 earnings. Shares of DB Corp lost 1.2% to Rs 281 on BSE.