Among sectors, the metal index rose nearly 4 percent, while infra and IT indices gained a percent each. However, some selling was seen in banking names. BSE midcap and smallcap indices rose over 0.5 percent each.
India’s benchmark indices ended with marginal gains in a volatile session on April 8, with Nifty going past 14,850, mainly supported by the metal stocks. At close, the Sensex was up 84.45 points, or 0.17 percent, at 49,746.21, and the Nifty was up 54.80 points, or 0.37 percent, at 14,873.80. Among sectors, the metal index rose nearly 4 percent, while infra and IT index rose a percent each. However, some selling was seen in banking names. BSE midcap and smallcap indices rose over 0.5 percent each.
Hester Biosciences | CMP: Rs 2,208.05 | The stock jumped over 9 percent after the company signed two agreements with ICAR-IVRI for acquiring technologies for the production and commercialisation of two vaccines. “….. has signed two agreements with ICAR-IVRI (Indian Council of Agricultural Research – Indian Veterinary Research Institute) for acquiring technologies for the production and commercialisation of classical swine fever vaccine and sheep pox vaccine,” the company said in the release.
Kalpataru Power | CMP: Rs 395.50 | The share price jumped more than 5 percent after Kalpataru Power Do Brasil Participacoes Ltda., Brazil, a wholly owned subsidiary of Kalpataru Power Transmission, completed the acquisition of a 51 percent stake in Fasttel along with management control on April 7, 2021, Kalpataru Power Transmission said in a release.
Barbeque Nation Hospitality | CMP: Rs 705.35 | The share price was locked in a 20 percent upper circuit on April 8 just like it did the previous day when it made its market debut. Barbeque Nation raised Rs 453 crore through its IPO last month, which was subscribed just six times, a subdued response when compared to other public offers.
Alembic Pharma | CMP: Rs 973 | The stock was down marginally in the red on April 8. The company’s JV with Aleor Dermaceuticals received tentative approval from the US Food & Drug Administration (USFDA). It announced that its joint venture Aleor has received tentative approval from the USFDA for its Abbreviated New Drug Application (ANDA) for Efinaconazole Topical Solution, 10 percent.
JSW Steel | CMP: Rs 616.20 | The scrip surged over 9 percent after the company reported an improved production in the fourth quarter of the financial year 2020-21. JSW Steel achieved crude steel production of 4.19 million tons in 4Q FY’21, a growth of 2 percent QoQ and 6 percent YoY, the company said in a press release.
Cadila Healthcare | CMP: Rs 471 | The share price added 2 percent after the pharma company received the US drug regulator’s approval for Ibrutinib capsules that are used in cancer treatment. Zydus Cadila has received the final approval from the US Food and Drug Administration (FDA) to market Ibrutinib capsules, 70 mg and 140 mg, the company said in a release to the exchange.
Ramco Systems | CMP: Rs 587 | The stock gained 2 percent after Malaysian utility and infrastructure conglomerate MMC Corporation Berhad (MMC) embarked on a digital transformation of five ports, in partnership with the software solutions leader, the company said in its BSE filing.
Hindustan Copper | CMP: Rs 142.50 | The share price ended in the red on April 8. The state-owned company launched its qualified institutional placement (QIP) of shares on April 7, 2021 at a floor price of Rs 125.79. The board is scheduled to meet on April 12, 2021, to consider and approve the issue size and price. The company may offer a discount of not more than 5 percent on the floor price so calculated for the issue.
Muthoot Finance | CMP: Rs 1,239.95 | The scrip jumped over 2 percent on April 8. The company said it is planning to raise Rs 1,700 crore through the public issue of secured redeemable non-convertible debentures. The issue opened on April 8 and will close on April 29 with an option to close on an earlier date or an extended date as may be decided by the board of directors or NCD committee.
JK Tyre & Industries | CMP: Rs 120.40 | The stock added 2 percent after India Ratings & Research assigned ‘A-‘ rating for various facilities of Cavendish Industries’ long term loans, with a stable outlook. The rating reflected subsidiary Cavendish’s strong operating performance in FY21 on the strength of strong demand from replacement markets, higher operating efficiencies, leaner cost structure and higher capacity utilisation, which has resulted in improved profitability.
Sandip Das
