Market movers: Hindustan Construction Company surges 11%, IIFL wealth 3%

The scope of work involves constructing a network of water distribution lines of over 1,000 km, including main trunks, cluster distribution and village distribution lines, elevated storage reservoirs, clear water reservoirs, and booster pumping stations at several locations.

This network will provide drinking water to 154 villages and two towns (Nokha and Deshnok) of the Bikaner district. The contract also involves operation and maintenance of 10 years.

IIFL Wealth up 3%

Shares of IIFL Wealth Management climbed 3 per cent after reports said it was added to FTSE Allcap Index. ET Now reported that this may lead to an inflow of $10-12 million to the stock. The adjustment in the index, that is the inclusion will take place on March 21.

The consensus rating from four analysts on the stock is ‘strong buy’, Refinitiv database shows. They have a media price target of Rs 2196 on IIFL Wealth Management. They provided the highest estimate of Rs 2494 and the lowest estimate of Rs 1,975.

Court win

The Bombay High Court has directed the Municipal Corporation of Greater Mumbai to transfer the title of a six-acre plot in the city’s posh Worli locality within eight weeks to Century Textiles & Industries.

The listed textiles-to-realty company had approached the city corporation in March 2014, seeking to execute a formal deed of conveyance for the land, which houses a residential colony of its employees. It moved the high court in December 2016, after the authorities did not respond to its application and several letters seeking transfer of the land title.

Following the order, the stock rose 2 per cent.