All the sectoral indices ended in the red with PSU Bank index shed over 9 percent, while auto, energy, infra and metal indices fell 4-5 percent. BSE Midcap and Smallcap indices also slipped 4-5 percent.
Benchmark indices shed over 3 percent on April 12 amid rising cases of COVID-19. At close, the Sensex was down 1,707.94 points or 3.44% at 47883.38, and the Nifty was down 524.10 points or 3.53% at 14310.80. All sectoral indices ended in the red with the PSU Bank index dropping over 9 percent, while auto, energy, infra and metal indices fell 4-5 percent. BSE Midcap and Smallcap indices also slipped 4-5 percent.
Solara Active Pharma | CMP: Rs 1,427.80 | The stock gained over 3 percent after the board of directors of the company approved the amalgamation with Aurore Life Science, Empyrean Lifesciences and Hydra Active Pharma Sciences. “The combination creates a pure-play API company of scale with a strong presence in regulated markets, emerging markets, a broad product portfolio, robust operations infrastructure, excellent R&D capabilities and clear synergies to further accelerate growth for the combined entity,” Solara said in its BSE filing.
TCS | CMP: Rs 3,250 | The scrip shed 2 percent ahead of its Q4 results. The IT services major is expected to report robust and best earnings growth among peers in the quarter ended March 2021, driven by cross-currency tailwind, recovery in demand, ramp-up of large deals and strong demand in cloud adoption, brokerages said.
Infosys | CMP: Rs 1,431.50 | The share ended in the red on April 12. The IT company said it would consider a share buyback during a meeting on April 14. “The board of the company will consider a proposal for buyback of fully paid-up equity shares of the company at its meeting to be held on April 14, 2021,” the company said in its release on the exchanges.
Dr Reddy’s Labs | CMP: Rs 5,098 | The stock price jumped over 7 percent as a subject expert committee is to send recommendations on Sputnik V to the Drugs Controller General of India (DCGI) soon and to consider Dr Reddy’s Laboratories’ application for Emergency Use Authorisation to Sputnik V vaccine, reported CNBC-TV18.
Tata Power Company | CMP: Rs 92.70 | The stock tumbled 11 percent after the company terminated a near USD 2- billion investment deal with Malaysian state-owned oil and gas company Petroliam Nasional Bhd (Petronas) in a proposed renewable energy infrastructure investment trust (InvIT), Mint reported.
Coforge | CMP: Rs 3,120.05 | The stock price was down a percent ending April 12. The company said it shall initially acquire 60 percent stake in SLK Global, with SLK Global’s founders completely exiting. Coforge will acquire an additional 20 percent stake from Fifth Third Bank after the completion of 2 years, according to a BSE filing.
Praj Industries | CMP: Rs 192.25 | The share price was down over 5 percent on April 12. The company said it has bagged an order to set up a syrup-based ethanol plant from Godavari Biorefineries in Karnataka. As a part of this project, Praj will expand the existing ethanol manufacturing capacity of Godavari Biorefineries from 400 KLPD (kilo litre per day) to 600 KLPD, using sugarcane syrup, Praj Industries said in a regulatory filing.
JMC Projects | CMP: Rs 77.35 | The stock was down 7 percent on April 12. The company said it has secured new orders of Rs 1,262 crore (Received orders of Rs 431 crore in March?21 and Rs 831 crore in month of April?21 till date). The projects included building projects in India of Rs 1,059 crore and water project in Maldives of approximately Rs 203 crore, company said in its release.
Man Industries (India) Limited | CMP: Rs 80.40 | The stock price slipped over 2 percent on April 12. The company said it has received a new order worth Rs 766 crore from the domestic Hydrocarbon Sector. With this new order the unexecuted order book as on date stands at approximately Rs 1,900 crore to be executed in the current financial year.
Ratnamani Metals & Tubes | CMP: Rs 1,967.25 | The share price was down over 2 percent on April 12. The company received domestic order of Rs 594 crore. “It has received a domestic order of Rs 594 crore for coated carbon steel pipes from Oil and Gas Sector to be executed between September 2021 to July, 2022,” the company said its release.
Sandip Das
