4 Stocks That Are Volatile In Trade Today

Markets are trading absolutely flat with select stocks being extremely volatile through the day. Here are a few stocks that are seeing sharp movement in trade.

Federal Bank

The shares of the bank have plunged by 10 per cent, and were last seen trading at Rs 90. At one stage the shares of the bank had plunged 12 per cent to Rs 88. The company declared quarterly numbers that lagged estimates.

The net profit slumped to Rs 145 crore and was down a whopping 44 per cent, year-on-year. The gross non performing assets at the bank was at 3.0 per cent, while the net NPA was at 1.69 per cent.

Security and Intelligent Services

The shares in this company dropped almost 6 per cent. The net profits at the company were down 36 per cent at Rs 36 crores for teh quarter ending March 31, 2018. The shares of the company were last trading at Rs 1277.

Sintex Plastics

This was another stock that dropped on account of a poor set of numbers. The shares fell 5 per cent in trade and was last seen at Rs 51.20. The company saw its revenue falling 3 percent at Rs 1293 crore. Sintex Plastics also reported a net loss of Rs 12 crore for the quarter ended March 31, 2018, from net profit of Rs 52 crores.

HPCL

This stock has reacted to the sharp rally in the price of crude and the fact that petrol and diesel prices have not been aligned to market rates, on account of the elections in Karnataka.

Crude oil rallied, after US President Donald Trump failed to renew the Iran nuclear agreement. The shares of HPCL were last seen trading 2 per cent lower. In line with rising crude oil prices, other OMCs also saw their share prices falling, including the likes of BPCL and Indian Oil. Brent Crude surged to $77 a barrel.

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