Among sectors, the Nifty IT index gained 1.7 percent each, while metal, auto and PSU bank indices lost 0.5-1.5 percent
Benchmark indices ended on a positive note in the volatile session on August 23 led by the IT stocks. At close, the Sensex was up 226.47 points, or 0.41 percent, at 55,555.79, and the Nifty was up 46 points, or 0.28 percent, at 16,496.50.
HCL Technologies | CMP: Rs 1,165 | The stock jumped over 4 percent on August 23. The firm signed a contract with Munich Re, one of the world’s leading reinsurers, to create a next-generation digital workplace for its workforce, as per the press release. CLSA retained a “buy” call on the stock and raised the target of Rs 1,320 from Rs 11,80 a share.
Cadila Healthcare | CMP: Rs 548.20 | The share added over 2 percent after the company received the Emergency Use Authorization (EUA) from the Drug Controller General of India (DCGI) for ZyCoV-D. Zydus Cadila received final approval from the USFDA to market Tofacitinib extended-release tablets, 11 mg and 22 mg in the United States.
HDFC Bank | CMP: Rs 1,522.90 | The stock ended in the green. The bank was looking at winning back the market share by the number of cards over the next one year, a senior official said on August 24. Parag Rao, its group head for payments and consumer finance, digital banking and IT said that the bank has set some milestones for itself as it seeks to re-enter the market.
Adani Enterprises | CMP: Rs 1,394 | The scrip shed 2 percent after the market regulator SEBI held Adani Wilmar IPO due to an investigation against Adani Enterprises. SEBI has “kept in abeyance” the Rs 4,500-crore initial public offering of the agro-commodity company due to an investigation that is pending against the flagship entity of ports-to-energy conglomerate Adani Group.
Aurobindo Pharma | CMP: Rs 681.55 | The stock ended with marginal gains as global research firm CLSA maintained an outperform call on the stock with a target of Rs 830 per share. The pharma company on August 20 said that its Rs 450-crore deal to acquire a 51 percent stake in Cronus Pharma Specialities India Pvt Ltd has been cancelled.
GAIL India | CMP: Rs 140.80 | The stock ended in the green after the company said it will foray into hydrogen generation and take the acquisition route to scale up its renewable energy portfolio as it pivots business beyond natural gas to align with the energy transition being witnessed across the globe.
KCP Sugar | CMP: Rs 21.60 | The share price fell over 4 percent after CARE downgraded rating on its long-term bank facilities to A- from A and the outlook to “negative” from “stable”.
Arvind Fashions | CMP: Rs 264 | The scrip jumped over 10 percent after the company raised Rs 439 crore from marquee investors, including promoters, at a price of Rs 218.50 per equity share.
Cartrade Tech | CMP: Rs 1,575 | The stock gained over 4 percent after Plutus Wealth Management LLP acquired 4 lakh equity shares in the company at Rs 1,590.86 per share, Goldman Sachs BRICs Fund bought 9,60,042 equity shares at Rs 1,563.43 per share, and Jupiter India Fund purchased 3,89,446 equity shares in the company at Rs 1,575.55 per share on the NSE.
KPI Global Infrastructure | CMP: Rs 122.40 | The share was down 5 percent on August 23. The company commissioned a new capacity of 2.05 MW (DC) into the existing solar power plant under IPP Category to the industrial customer against their Power Purchase Agreement (PPA).
Sandip Das
