Explained: 5 stock movements today
• 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.