The shares of the FMCG company Varun Beverages ended in the green on Wednesday, snapping a two day losing streak. The stock has gained in six out of the last 10 trading sessions. The stock of one of PepsiCo's largest franchisees is consolidating following large block deal wherein 70 lakh shares changed hands. Sources within the dealing room tell CNBC-TV18 that the promoter entity is the likely seller in this transaction.
NSE
All Eyes On RBI Policy
The markets are consolidating with a negative bias. According to dealers, the flows were mixed at the FII desk today, and witnessed a small market at close basket buying.
Indian equity benchmarks BSE Sensex and NSE Nifty 50 ended Wednesday's session higher as market staged last hour recovery. Dealers suggest that select private banks continued to remain under selling pressure, while large cap tech stocks were bid well at the institutional desk.
The range for Nifty is seen between 19,200-19,800 levels.
All eyes are now on the Reserve Bank of India's policy announcement due tomorrow. Market participants await the committee's decision, with a unanimous 'status quo' expectation dominating the sentiment, as indicated by a recent CNBC-TV18 poll.
Besides Varun Beverages, here are the stocks that made it to the dealing room chatter:
Suprajit Engineering: The stock closed marginally higher on Wednesday, ending in the green for second day in a row. Dealers suggest the stock is consolidating off late. According to the sources in dealing rooms, a large block is expected soon.
Bandhan Bank: The shares of the lender ended half a percent lower as the stock remained under pressure in the trade on Wednesday. Sources within the dealing room tells CNBC-TV 18 that a leading domestic AIF is the active buyer at current levels.
Orient Cement: The shares of the cement company ended eight percent higher, not far from the 52-week mark of Rs 196.95 touched earlier in the session. The stock is up for fifth day in a row, and has gained nearly 36 percent in this period. Dealers indicate that the stock is buzzing on strong buy flows at the HNI desk.
(Edited by : Asmita Pant)