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RVNL doubles in a month, Syngene down for third day: What kept dealers busy on Monday?
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RVNL doubles in a month, Syngene down for third day: What kept dealers busy on Monday?
Nov 28, 2022 7:33 AM

Shares of Rail Vikas Nigam Ltd. (RVNL) gained another 9.5 percent on Monday, extending its record-breaking run for the fourth straight day. The stock has gained 38 percent over the last four trading sessions.

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Sources within the dealing rooms told CNBC-TV18 that multiple block deals have taken place during Monday's trading session and the stock has also surged on very high volumes.

Shares have doubled this month itself.

A Day Of Records

Institutional buying took the market to an all-time high on Monday. The Nifty 50 closed at a record closing high of 18,563 after hitting an intraday record high of 18,614, led by Reliance Industries and ICICI Bank.

MSCI rebalance and some market-at-close basket buying also took place on Monday, according to dealing rooms. The broader market, particularly the midcap index, is still 1,400 points away from its record high. The Nifty Bank index closed above the mark of 43,000 for the first time.

Metals underperformed on Monday over renewed lockdown concerns in China.

Besides RVNL, here are some other stocks that have been part of the dealing room chatter today:

Ami Organics: Shares of the company ended 7.6 percent higher on Monday, gaining for the fifth out of the last six trading sessions. The stock also had its best day in nearly a month. 3 percent of the company's equity exchanged hands in large trades during Monday's trading session.

Sources within the dealing rooms indicate that a leading FII is the likely seller in the large trade. The stock was also in focus after it signed a multi-million Euro deal with a Finland-based company.

Birlasoft: Shares of the midcap technology company gained for the fourth straight day on Monday. The stock has gained 9 percent over the last four trading sessions. Dealers suggest that FIIs have been buying the stock off late.

Also Read: Angan Guha appointed as new CEO and MD of Birlasoft

Syngene: An underperformer in a strong market, Syngene's shares ended 1.2 percent lower on Monday, declining for the third straight trading session. Dealing rooms are abuzz with chatter of a large block deal that is likely to take place in the stock soon. A strategic investor is likely to be the seller in this transaction, according to dealers.

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