Jindal Steel, Tata Steel, Hindalco Industries, Hindustan Zinc and Sesa Sterlite are down 1-6% on the BSE.
The broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices have gained by nearly 1% each.
The stock has rallied 35% in past five trading sessions after reporting a strong set of numbers for the quarter ended March 2014.
Read on to know Puneet Kinra, AVP Research (Equity Technical), Bonanza Portfolio views
Q1 net profit up 2.4% yoy at Rs 39.40 crore against Rs 38.46 crore during the same quarter year ago.
The stock has rallied 74% to Rs 1,195 from Rs 686 on April 25, after its promoter Dashtag has made voluntary delisting offer at an indicative price of Rs 1,150.
The financial and IT space are having a good morning
The operating profit margin increased by 228 basis points yoy to 14.2% in Q4FY14, due to reduction in employee, advertisement and other expenses.
The financial space is going strong this morning, with HDFC, HDFC Bank, ICICI Bank and SBI adding more than a per cent each
The board also approved to issue nearly 7 million shares to Piramal Enterprises for about Rs 790 crore.
The company reported 11.4% decline in total sales in April to 86,196 units, against 97,302 units in the same month last year.
The Sensex is at 22523, higher by 105 points and the Nifty has clawed back above the technically crucial level of 6700 and is now at 6724, up 26 points.
Watch out for Shriram City Union Finance, Gail India, PTC Finance and auto stocks
As day of poll result nears, rise in market volatility making things more difficult
Current valuations, too, provide comfort, with the stock trading at nine times its FY15 estimated earnings and 1.2 times its book value
Mutual fund houses come out with 24 equity NFOs in the run-up to the general election result
There were PE deals amounting to $1.6 billion in the same period last year
This popular market saying may not work this time as Indian markets are doing good, says Ashika Stock Brokers, Research Head, Paras Bothra
Both bourses have announced an additional session starting 4:30 pm