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Here are the key stocks that moved the most on September 1, Tuesday
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Here are the key stocks that moved the most on September 1, Tuesday
Sep 1, 2020 9:46 AM

The Indian benchmark equity indices, Sensex and Nifty ended higher Tuesday led by gains in metals, pharma and FMCG stocks amid positive global cues.

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NSE

The Sensex ended 272.51 points or 0.71 percent higher at 38,900.80 while the Nifty gained 82.75 points or 0.73 percent to settle at 11,470.25. Broader indices participated in the rally with Nifty Midcap and Nifty Smallcap indices gaining 0.82 percent and 0.37 percent, respectively.

Among sectors, Nifty Metal rallied the most with over 3 percent gains followed by Nifty Pharma, Nifty FMCG, Nifty Financial Services, while Nifty IT and Nifty PSU Bank ended in the red.

Here are the stocks that moved the most today:

Telecom stocks:

Shares of Bharti Airtel ended 7.11 percent higher at Rs 549.60 while Vodafone Idea's ended about 14 percent lower at Rs 8.80 per share on the NSE after the Supreme Court allowed 10 years to the telecom companies for a staggered payment of AGR.

The 10-year timeline for payment of AGR dues to begin from April 1, 2021, and the companies need to pay 10 percent upfront, SC noted.

Reliance Industries: The share price of the conglomerate ended 0.51 percent higher to Rs 2,091.40 after brokerage house Morgan Stanley said RIL may make an investment of up to $60 billion in the next decade. It raised its 12-month target price to Rs 2,247 from Rs 1,810.

Larsen & Toubro: The shares closed over a percent higher to Rs 956.40 on the NSE after it said it has completed the divestment of the electrical and automation business to Schneider Electric.

Global brokerage firm CLSA remained bullish on the stock, with a target price at Rs 1,280 per share.

Escorts: The company reported strong auto sales for the month of August. Domestic sales jumped 79.4 percent to 6,750 units against 3,763 units in July, while exports rose 90.4 percent to 518 units from 272 units in the previous month. The shares ended over 2 percent to Rs 1,115.80 per share on the NSE.

Biocon: The pharma giant's shares ended nearly 8 percent higher at Rs 405.05 a day after the company announced the launch of a diabetes drug in the US market.

In its exchange filing, the company said, "Biocon Biologics India, a subsidiary of Biocon, and Mylan N.V., announced the US launch of Semglee (insulin glargine injection) in a vial and pre-filled pen presentations, approved to help control high blood sugar in adult and pediatric patients."

NTPC: The share price ended over 4 percent higher to Rs 100.50 after the company said it would seek shareholders' nod to raise up to Rs 15,000 crore through issuance of bonds in the annual general meeting scheduled for next month.

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