Explained: 5 stock movements today

Last Updated: Wednesday, September 12, 2012 - 17:33

Rohit Joshi/ZRG

• Apollo Tyres rocked post Bank of America Merrill Lynch (BoAML) raised target price: Stock gained 6.36 percent after BoAML maintained buy rating on the stock. They have also raised the target price from Rs. 115 to Rs. 135.

• Airlines shares galloped on FDI hopes: Spicejet (7 percent), Jet Airways (5 percent), Kingfisher Airlines (7.8 percent) gained on the back of this news.

• Siemens tumbled on buzz of promoter stake sale: Share declined over 3 percent on reports which suggested that parent company, Siemens AG might sell some stake in the company through a block deal.

• Himadri Chemicals soared after planning to divest non-core assets: Scrip gained over 3 percent after company has initiated the process to divest partly or fully its non– core carbon black business.

• Sun Pharma hit record highs: Stock touched 52 week high levels of Rs. 696 and closed at Rs. 681.15.

First Published: Wednesday, September 12, 2012 - 17:33

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