JB Chemicals, Galaxy Surfactants, IRM Energy, Capri Global: Stocks that are seeing spurt in volumes today

The Indian equity market traded higher in the afternoon on Thursday, March 27, despite opening lower.

At 12:33 PM, BSE S&P BSE SENSEX was up 307.93 points, or 0.40%, at the 77,596.43 level, while NSE’s NIFTY50 was at the 23,581.95 level, edging up 95.10 points, or 0.4%.

Hero MotoCorp, Bajaj Finserv, HDFC Life Insurance, Larsen and Toubro (L&T), and Wipro were the most contributing stocks, rising as much as 2.38%.

On the other hand, Tata Motors, Sun Pharma, Dr Reddy’s, Adani Enterprises, and HCL Technologies were the biggest laggards, falling as much as 5.61%.

JB Chemicals & Pharmaceuticals, Galaxy Surfactants, Palash Securities, UTI Nifty Bank ETF, and IRM Energy were among the shares witnessing a spurt in their trading volumes on Thursday.

According to National Stock Exchange data, the JB Chemicals counter marked the highest trading volume following a block deal. The number of JB Chemicals shares that changed hands on Thursday was over 100.11 times higher than the daily average on the stock counter.

Shares of the pharma major were trading 5.66% lower at the time of writing this article at ₹1,612 apiece on the 50-share index. As many as 90 lakh shares of the pharma company, making up a 5.78% stake, changed hands in the block deal window.

As per various reports, the block deal’s floor price was set at ₹1,625 per share, representing a 4.9% discount to JB Chemicals’ last closing price.

Further, the counter of Galaxy Surfactants saw 24.43 times higher trading volume than the daily average, while the Palash Securities counter saw 11.84 times higher trading volume than the daily average.

Counters of UTI Nifty Bank ETF, IRM Energy Limited and Axis Mutual Fund—Axis NIFTY Bank ETF were also seeing higher trade volumes by 9.71, 8.55 and 8.39 times the daily average.

Shares of the Ahmedabad-based energy solutions provider – IRM Energy – rose as much as 14% on Thursday after the company secured a contract from Shell Energy India Private Limited. The contract includes supplying regasified liquefied natural gas (RLNG) for five years.

On the National Stock Exchange, IRM Energy shares rose as much as 14% during the early trades. At 1 PM, the stock was trading at ₹286.50 apiece, surging 7.87%.

Volumes at the Capri Global Capital Limited (CGCL) counter were 6.81 times higher than the daily average; however, the Ruchi Infrastructure counter witnessed 5.53 times higher volume than the daily average. This is the second day when CGCL counters saw high trading volumes.

A volume in the stock volume is the number of shares traded in a specific period. A spurt in volume means the stock is witnessing a lot of interest or activity happening around the equity market.

Counters of RHI Magnesita India Limited and Gujarat Alkalies and Chemicals were witnessing 5.43 times higher volume than the daily average, respectively.