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Movers and shakers in today’s trade

IT stocks were trading higher on Thursday. The Nifty IT Index up over 2.5% at 13,109. Infosys Ltd is currently trading at Rs1,156.55 up by Rs32.65 or 2.91% from its previous closing of Rs1,123.90 on the BSE. The company will announce the results for its fourth quarter and year ended March 31, 2018, on April 13.

Shares of Fortis Healthcare gained 2% on media reports said that IHH is proposing a potential offer for Fortis Healthcare that could value it at as much as $1.3bn, which would top the bid from a TPG-backed consortium.

Associated Alcohols stock rose over 2% for second day after Dolly Khanna has picked up 1.04% stake in the company, as per BSE data.

Shares of Petron Engineering fell 1.5% after it informed exchanges that NCLT has accepted the petition filed by operational creditors against the company.

Capacit’e Infraprojects stock rose 1% after the company has won a contract worth Rs163cr from Sea View Developers for civil and structure work package for construction tower 11 and multi-level car park.

Oil stocks were trading lower for the second day in a row after crude oil prices in international markets rose to levels last seen in 2014. HPCL, BPCL and IOC down in the range of 1-2%.

IDBI Bank stock fell 2% after RBI slapped a penalty of Rs3cr on the bank for non-compliance of bad loan norms.

Dish TV stock soared 3.5% after 9.15cr or 5% equity changed hands in a block deal. The promoters of the company have made mandatory offer to buy ~50cr fully paid shares which represent ~26% of the emerging share capital of the target company from the shareholders. The offer price is Rs74 per share aggregating to ~Rs3,701cr.

Shares of Alok Industries climbed 5% on media reports that Reliance Industries is set to acquire the company.