Natco Pharma Ltd, AIA Engineering Ltd, Sudarshan Chemical Industries Ltd, Sumitomo Chemical India Ltd are among the other stocks to see a surge in volumes on NSE today, 18 September 2020.

Essel Propack Ltd saw volume of 89.67 lakh shares by 14:19 IST on NSE, a 33.88 fold spurt over two-week average daily volume of 2.65 lakh shares. The stock dropped 6.87% to Rs.254.00. Volumes stood at 2.98 lakh shares in the last session.

Natco Pharma Ltd saw volume of 65.97 lakh shares by 14:19 IST on NSE, a 32.96 fold spurt over two-week average daily volume of 2.00 lakh shares. The stock increased 16.02% to Rs.897.15. Volumes stood at 1.97 lakh shares in the last session.

AIA Engineering Ltd registered volume of 3.83 lakh shares by 14:19 IST on NSE, a 9.9 fold spurt over two-week average daily volume of 38709 shares. The stock rose 5.12% to Rs.1,850.00. Volumes stood at 29050 shares in the last session.

Sudarshan Chemical Industries Ltd saw volume of 18.37 lakh shares by 14:19 IST on NSE, a 7.32 fold spurt over two-week average daily volume of 2.51 lakh shares. The stock increased 6.91% to Rs.523.00. Volumes stood at 5.48 lakh shares in the last session.

Sumitomo Chemical India Ltd saw volume of 25.19 lakh shares by 14:19 IST on NSE, a 7.21 fold spurt over two-week average daily volume of 3.49 lakh shares. The stock increased 5.85% to Rs.301.95. Volumes stood at 3.44 lakh shares in the last session.

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AU Small Finance Bank Ltd, Natco Pharma Ltd, Birla Corporation Ltd, KPIT Technologies Ltd are among the other stocks to see a surge in volumes on BSE today, 18 September 2020.

Essel Propack Ltd notched up volume of 768.2 lakh shares by 10:53 IST on BSE, a 3434.93 fold spurt over two-week average daily volume of 22364 shares. The stock slipped 5.73% to Rs.257.35. Volumes stood at 31106 shares in the last session.

AU Small Finance Bank Ltd registered volume of 10.71 lakh shares by 10:53 IST on BSE, a 42.17 fold spurt over two-week average daily volume of 25392 shares. The stock rose 0.55% to Rs.708.40. Volumes stood at 9373 shares in the last session.

Natco Pharma Ltd saw volume of 2.03 lakh shares by 10:53 IST on BSE, a 17.7 fold spurt over two-week average daily volume of 11474 shares. The stock increased 17.10% to Rs.909.20. Volumes stood at 20686 shares in the last session.

Birla Corporation Ltd notched up volume of 3.55 lakh shares by 10:53 IST on BSE, a 16.01 fold spurt over two-week average daily volume of 22187 shares. The stock rose 2.93% to Rs.729.55. Volumes stood at 21422 shares in the last session.

KPIT Technologies Ltd witnessed volume of 14.42 lakh shares by 10:53 IST on BSE, a 12.36 times surge over two-week average daily volume of 1.17 lakh shares. The stock dropped 3.55% to Rs.100.60. Volumes stood at 1.8 lakh shares in the last session.

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On the BSE, the counter clocked a volume of 7.55 crore shares as against its average trading volume of 22,346 shares in the past one quarter. The stock lost 6.11% to hit a low of Rs 256.30 on BSE in initial trade today.

On the NSE, the scrip declined 5.19% to Rs 258.60. The counter clocked a volume of 52.60 lakh shares compared with its average trading volume of 2.99 lakh shares in the past one quarter. The stock shed 5.26% to hit a low of Rs 258.4 on NSE in initial trade today.

The media reported that the Epsilon Bidco, a Blackstone entity, intends to sell up to 23% stake, representing around 7.25 crore shares of the company. The reported added that the sale would be done at the floor price of Rs 255 per share and would reportedly fetch Blackstone about Rs 1,850 crore.

Epsilon Bidco held 74.99% stake in the company as on 30 June 2020.

Essel Propack is the largest global specialty packaging company, manufacturing laminated plastic tubes catering to the FMCG and Pharma space.

The company's consolidated net profit rose 14% to Rs 45.62 crore on a 17.7% increase in net sales to Rs 741.49 crore in Q1 FY21 over Q1 FY20.

In the past six months, the stock has surged 76.12% while the benchmark S&P BSE Sensex added 35.34% during the same period.

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Essel Propack announced that Credit Analysis & Research has reaffirmed the following ratings to debt facilities of the company -

1. Reaffirmed credit rating of CARE AA, for Long Term Bank Facilities.
2. Reaffirmed credit rating of CARE Al+ for Short Term Bank Facilities.
3. Reaffirmed credit rating of CARE AA/CARE Al+ for Long term/Short Term Bank Facilities.
4. Reaffirmed credit rating of CARE AA for the Non-Convertible Debentures (NCDs) of the Company.

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