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Market fatafat: Stocks that are buzzing in trade today

Market Fatafat is designed for viewers to know what stocks are buzzing in trade today. We take up a handful of stocks that are showing sharp movements and discuss why they are the newsmakers for today.

Paulomi Barman

Updated Jun 15, 2022, 15:20 IST

Bombay Stock Exchange (file picture).

Photo : iStock

KEY HIGHLIGHTS

Jefferies maintains buy on GAIL
Tata Steel turned ex-dividend
Sugar stocks react as traders meet the food ministry

New Delhi: ITI, HFCL, Tejas Network in focus as the Union Cabinet approves DoT's proposal to hold 5G auctions. Spectrum to be valid for 20 years. For the 1st time ever no upfront payments to be made by a successful bidder. Payments for 5G spectrum can be made in 20 equal annual installments.

Jefferies maintains a buy rating on GAIL with target price of INR180. "Tightening LNG market improves FY23 earnings outlook," says house. "This is a tailwind to GAIL's trading and petrochemical profitability in FY23E," says Jefferies.

Tata Communications management reiterated its strategy on platform transformation with a focus on innovations and new launches to boost revenue. The company has maintained its medium-term RoCE (return on capital employed) and operating margin guidance at 25-30% and 23-25%, respectively.

Tata Steel turned ex-dividend ahead of the record date for the final dividend payment on June 16. For the financial year 2021-22, the board of directors of Tata Steel recommended a Rs 51 final dividend per equity share.

PayTm reports a rise in average ticket size in May. Increase Due To Scale-Up Of Personal Loans Business. Lending Business Continues To Grow At A Rapid Pace. GMV For 2 Months Rises 105% YoY At Rs 1.96 Lakh Crore.

Genesys International To issue equity shares & convertible warrants to non-Promoters at price range of Rs 460 to Rs 470. Company to raise close to Rs 255 Crore Fund. Malabar India Fund to infuse Rs 100 cr via equity and warrants.

Sundar Iyer, Ashish Nanda, Kamlesh Shah, Vijay Karnani, Sanjana Gupta, Inder Soni, Abhinaya Chakravarthi and Mathew Cyriac to infuse Rs 155 cr.

CLSA maintains buy on escorts with a target price of Rs 2,069, which is about 34 per cent up from its previous close.

Affle Anand Rathi Share And Stock Brokers Initiates Coverage On The Stock With Buy Rating And Target Price Of Inr1,220. House Says Management's Focus On Profitability Has Created Sustainable High-Growth And Cash-Flow Generation.

Sugar stocks react as traders meet the food ministry for an increase in exports. However, shares of some sugar companies seemed unexcited and traded in the red.

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