Trending Stocks Today: Vodafone Idea Continues To Trade The Most Even As Davangere Sugar Defies Peers To Rally On Export Ban

Vodafone Idea continued to reign as the most actively traded equity today hitting a high before investors locked in gains. A sugar mill joined the trendiest stocks list today surging on an export ban even as peers took a hit from the policy announcement. Moreover, Tata ETFs for gold and silver continued their reign as the trendiest equities but not before paring gains after yesterday’s rally.

Vodafone Idea (down 0.62%)

The most actively traded equity on NSE surged 1.87% to touch a one year high of Rs 13.09 today before slipping into negative territory as investors started booking profits. To be sure, the stock was the most active around this time yesterday as well, jumping on the debt-laden telecom operator announcing a board meeting on May 16, that is Saturday, to consider fundraising plans along with results. And a day earlier, the stock faced profit-booking after Bloomberg reported that Vodafone Group is exploring options to transfer part of its stake to its Indian arm, Vodafone Idea. The move is reportedly aimed at strengthening the financial position of the Indian unit, following the Centre’s decision to reduce Vodafone Idea’s outstanding spectrum dues.

Davangere Sugar Company (up 11.73%)

Shares surged even as other sugar stocks declined after the government imposed an immediate ban on sugar exports until September 30, or until further notice, as the world’s second-largest sugar producer moved to stabilise domestic prices. Earlier, authorities had permitted mills to export 1.59 million metric tonnes, anticipating that production would comfortably exceed local demand. However, output is now expected to fall short of consumption for a second consecutive year, as weaker cane yields in key growing regions weigh on overall supply. Other sugar stocks that declined after the policy announcement included Balrampur Chini Mills, Dhampur Sugar Mills, and Shree Renuka Sugars.

Tata Mutual Fund Tata Gold Exchange Traded Fund (up 0.45%)

Shares edged higher after rallying in the previous session, following the government’s decision to raise import duties on gold and silver to 15% from 6%, a move aimed at conserving foreign exchange reserves. The stock views the policy change as supportive, as higher import costs for precious metals could encourage investors to shift toward alternatives such as exchange-traded funds (ETFs), potentially boosting demand in that segment.

Tata Mutual Fund Tata Silver Exchange Traded Fund (up 0.77%)

Shares inched higher after a sharp rally in the previous session, following the government’s decision to raise import duties on gold and silver to 15% from 6% in a bid to conserve foreign exchange reserves. The policy move improved sentiment, with investors interpreting the higher tariffs as a potential catalyst to shift demand away from costlier physical bullion imports and towards paper instruments such as ETFs, which offer exposure to gold and silver without the added impact of import duties. Expectations of stronger inflows into the Tata Silver ETF further supported the stock’s performance.

Source: NSE