Among sectors, metal and power indices shed 1 percent each, while buying was seen in the infra, pharma and banking names. BSE midcap ended flat, while the smallcap index added a percent.
Indices snapped the four-day losing streak and ended higher in a volatile session. At close, the Sensex was up 166.07 points, or 0.32 percent, at 52,484.67, and the Nifty was up 42.20 points, or 0.27 percent, at 15,722.20.
SREI Infra | CMP: Rs 12.95 | The share price shed over 4 percent on July 2. The company announced fund-raising plans. SREI Infrastructure Finance and its wholly-owned subsidiary SREI Equipment Finance have announced plans to raise significant capital in both companies, as per the press release. Srei Infrastructure has announced its plan to raise capital by way of issuing one or more instruments through a public offer/ qualified institutional placement (QIP)/ private placement/ preferential issue or rights issue.
Edelweiss Financial Services | CMP: Rs 74.30 | The stock price gained 3 percent after the company decided to sell its 70 percent stake in insurance broking JV. Edelweiss said it will exit the insurance broking business by selling its 70 percent stake in Edelweiss Gallagher Insurance Brokers Ltd for Rs 307.60 crore.
Titan Company | CMP: Rs 1,750 | The scrip ended in the green on July 2. Tata-group owned Titan Company welcomed Ashok Kumar Sonthalia as the Chief Financial Officer on July 1. Sonthalia takes over from S Subramaniam who retired on June 30. Titan also announced that Swadesh Behera, former Senior Director–HR at Boston Scientific Corporation (BSC), has taken over as the new chief people officer from July 1.
Solara Active Pharma | CMP: Rs 1,723 | The share added 3 percent after the European Directorate for the Quality of Medicines restored the certificate of suitability (CEP) for Ranitidine Hydrochloride drug substance.
Adani Ports | CMP: Rs 710.85 | The stock ended in the green after foreign broking house Nomura maintained a ‘buy’ rating on the stock and raised the target price to Rs 890 per share. The company handled cargo volume of 25.54 mt in June, up 83 percent YoY. It handled cargo volume of 75.69 mt in Q1 FY22, up 83 percent YoY. The firm handled cargo volume of 0.67 m TEUs (Container Segment) in June, up 48 percent YoY.
Jindal Stainless | CMP: Rs 208.55 | The stock ended in the red on July 2. CARE Ratings has upgraded the long-term bank facilities of Jindal Stainless (Hisar) to ‘CARE A+’. The rating for short-term bank facilities of the company has also been upgraded to ‘CARE A1+’.
Laurus Labs | CMP: Rs 677 | The scrip added 2 percent after the company received the licence from Defence Research & Development Organisation (DRDO) to manufacture and market of 2-Deoxy-D-Glucose (2DG).
Garden Reach Shipbuilders | CMP: Rs 204.30 | The stock price closed in the green after the company was awarded an export order for the construction and supply of six patrol boats, through competitive bidding at the cost of $ 1,821,798.00 from the Department of Fisheries, Government of the People’s Republic of Bangladesh.
Motilal Oswal Financial | CMP: Rs 811.80 | The stock added 2 percent after the company won an award of Rs 89 crore against Dhanera Diamonds, with the Bombay High Court through an interim order directed Dhanera not to sell or dispose of its assets.
BHEL | CMP: Rs 65.95 | The share ended in the green on July 2. India Ratings downgraded the rating on the long-term bank facilities of the company from ‘AA’ to ‘AA-‘ and reaffirmed the outlook to ‘Negative’. The rating on the short-term facilities has been reaffirmed at ‘A1+’.
Sandip Das
