Shares of Aditya Birla Capital ended 3.6 percent higher on Monday, close to its 52-week high of Rs 183. The stock has gained in six out of the last seven trading sessions.

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Sources in the dealing rooms told CNBC-TV18 that the company is likely to raise funds up to Rs 1,750 crore through a Qualified Institutional Placement (QIP) soon. The issue may be launched in the next day or two, sources said.

The indicative price for Aditya Birla Capital QIP is likely in the range of Rs 170-176 pers share, sources said. The stock has risen nearly 17 percent on a year-to-date basis.

A Rangebound Session

The Nifty 50 index traded in an 80-point range on Monday, ending the session just shy of the 18,700 mark.

Dealers indicated that the flows were very stock-specific and mostly directed towards the largecap names. Broader markets though, continued to outperform in today's session as well.

The Nifty Pharma index was the other outperformer in today's session, ending 1.5 percent higher. Dealers said that Pharma stocks continue to be well bid among institutional investors. The index outperformed despite negative newsflow in stocks like IPCA Labs and Aurobindo Pharma.

Besides Aditya Birla Capital, these stocks made it to the dealing room chatter:

Uno Minda: Shares of Uno Minda ended 0.7 percent higher on Monday, the first rise after a three-day drop. Dealers suggest that a large block deal is expected in the stock soon, continuing with the trend of a heap of blocks that have taken place over the last two weeks.

Tata Motors: The automaker also ended higher by 1.5 percent on Monday, snapping a three-day losing streak in the process. Dealing rooms tell CNBC-TV18 that FIIs have been buyers in the stock and it is likely to see high delivery volumes in today's trading data.

Aavas Financiers: The stock saw a sharp surge on Monday, ending 5 percent higher in the final minutes of trade. The stock has now risen in three out of the last four trading sessions. Dealers say that selling pressure in the stock from a large domestic insurance company is likely to be over after a potential clean out trade on Monday.

(Edited by : Hormaz Fatakia)

First Published:Jun 26, 2023 5:21 PM IST