On the sectoral front, PSU Bank rose 5 percent and IT, Metal and Energy indices gained 1-2 percent each, while auto index slipped 1 percent.
Benchmark indices ended lower for the third straight session on February 18 amid weak global cues. At close, the Sensex was down 379.14 points or 0.73% at 51,324.69, and the Nifty was down 89.90 points or 0.59% at 15,119. Here are 10 stocks that moved the most today:
Shilpa Medicare | CMP: Rs 385.05 | The stock fell over 9 percent after the company received an Import Alert 66-40 on February 17, 2021 after the USFDA inspection of the Unit 4, Jadcherla, Telangana facility from February 13 – 20 and February 24-25, 2020, company said in its release to exchanges. Three products that have been exempted from the Import Alert are – Azacitidine for Injection, Cyclophosphamide Capsules and Erlotinib Tablets.
General Insurance | CMP: Rs 170.90 | The share price jumped 20 percent on February 18 on government divestment buzz. ET reported, citing people aware of the matter, that the government is debating whether the reinsurer should also be divested. The finance ministry and Niti Aayog will together finalise whether the general insurer will be considered for privatisation, a senior government official said.
NALCO | CMP: Rs 51.80 | The share price gained over 2 percent on February 18. The company will buy back Rs 749-crore worth of shares, DIPAM Secretary Tuhin Kanta Pandey has said. The offer opens on February 25 and closes on March 10. The government holds 51.50 percent stake in the company and would tender shares proportionate to its holding.
Gail India | CMP: Rs 143.80 | The scrip jumped 7 percent after the company approved a share buyback plan. The company is going to open its buyback programme on February 25 for up to 6,97,56,641 fully paid-up equity shares of face value Rs 10 each, representing 1.55 percent of the number of equity shares in the issued, subscribed and paid-up equity share capital of the company. The share buyback will close on March 10.
IndiaMART Intermesh | CMP: Rs 9,090 | The share price was up over 6 percent after the B2B marketplace launched a qualified institutional placement (QIP ) to raise around Rs 1,100 crore. “The indicative issue price for the QIP is Rs 8,615 per equity share which is at a 4.97 percent discount to the SEBI floor price,” sources told Moneycontrol. “The promoters may sell an additional 2 percent post the QIP to mop up liquidity which has been disclosed in the offer document,” a second individual told Moneycontrol.
Dish TV | CMP: Rs 12.15 | The scrip added 2 percent after the company plans to raise funds up to Rs 1,000 crore. It has granted in-principle approval to explore and initiate the process of fund raising through permissible modes and issue of permissible securities. Dish TV India and its promoters — Direct Media Distribution Ventures and World Crest Advisors LLP settled with SEBI cases of alleged disclosure lapses after paying nearly Rs 45 lakh as settlement charges.
Arvind Fashions | CMP: Rs 173.65 | The stock price gained over 6 percent after the committee of directors of the company approved the issue of 1.48 crore partly paid-up equity shares of face value of Rs 4 each at an issue price of Rs 135 per equity share for an amount aggregating up to Rs 199.84 crores to all the existing equity shareholders of the company on a rights basis in the ratio of 3 Rights Equity Shares of Rs 4 each for every 20 Equity Shares of Rs 4 each held by the equity shareholders in the Company as on the record date.
RPP Infra | CMP: Rs 69.95 | The scrip added 2 percent after the company bagged new order worth Rs 176.6 crore in Tamil Nadu. “RPP Infra Projects has received a letter of acceptance for a new project viz, “TNRSP II/EPC14 – strengthening and widening (four lane) of Triuneveli-Sengottai-Kollam Road of SH-39 at a contract price of Rs 176.58 crore,” the company said in an exchange filing.
PSU banks rally | Share price of PSU banks rallied for the third straight session on February 18 on reports of privatisation of these banks. The government has shortlisted four mid-sized state-run banks for privatisation, under a new push to sell state assets and shore up government revenues, news reports said quoting government sources. Indian Overseas Bank, Bank of Maharashtra, Central Bank of India and Bank of India share price hit upper circuit surging 10-20 percent each.
IndusInd Bank | CMP: Rs 1,043.15 | The stock added a percent after the Hinduja Group bank is expected to get a capital boost from promoters by February 18 after a successful rights issue in which they have raised Rs 2,021.45 crore. The rights issue was necessitated to infuse residual capital into the bank in lieu of conversion of warrants issued to them in 2019 worth over Rs 2,695 crore into equity. Citi has a buy call on the stock and has raised target to Rs 1,300 per share.
Sandip Das
