Among sectors, except FMCG, all other sectoral indices ended in the red with oil & gas, IT and Realty indices down 1-2 percent. The BSE midcap and smallcap indices ended in the red.
Benchmark indices ended marginally lower amid volatility on September 7 after hitting record levels intraday. At close, the Sensex was down 17.43 points or 0.03% at 58279.48, and the Nifty was down 15.70 points or 0.09% at 17362.10.
Panacea Biotec | CMP: Rs 318.50 | The stock price jumped over 8 percent after The Russian Direct Investment Fund and Panacea Biotec announced supply of the 1st shipment out of 1 million doses of the second component (human adenovirus serotype 5) of the Russian Sputnik V coronavirus vaccine manufactured by Panacea Biotec for sale in India.
VST Tillers | CMP: Rs 2,773 | The scrip jumped over 4 percent after the company launched the VST range of tractors and power tillers in Southern Africa. “The firm has entered into an agreement with ETG (Export Trading Group), for distribution of its tractors, power tillers, power reapers and diesel engines in the Southern african markets including South Africa, Namibia, Botswana, Zimbabwe, Swaziland, and Zambia,” company said in its release.
LIC Housing Finance | CMP: Rs 425.10 | The share price jumped over 5 percent after India Post Payments Bank (IPPB) and LIC Housing announced a strategic partnership for providing home loan products to over 4.5 crore customers of IPPB.
Birlasoft | CMP: Rs 412 | The share ended in the green after teh cokpany along with Freshworks Inc., announced global, strategic partnership aimed at helping enterprises provide enhanced customer experience management services to customers through new-age digital transformation solutions.
ITC | CMP: Rs 211.85 | The stock added over a percent after CLSA maintained a “buy” call on the stock with the target at Rs 265 per share. The brokerage firm is of the view that the FMCG business is firmly on the path for a profitable scale-up. It expects its FMCG business to deliver a 31 percent EBITDA CAGR over FY20-24.
JSPL | CMP: Rs 398.85 | The share price gained over 2 percent after the company reported better sales and production numbers for August. The firm’s steel sales volume increased 6 percent month-on-month and 4 percent year-on-year (YoY) to 7.1 lakh tonnes. Its monthly production also rose 6 percent YoY to 6.6 lakh tonnes and exports increased to 42 percent in August.
Jubilant FoodWorks | CMP: Rs 4,082 | The share price ended in the red on September 7. Promoter entity Jubilant Consumer created a pledge on 7.25 lakh equity shares (0.55 percent stake) of the company.
JSW Steel | CMP: Rs 684 | The scrip ended in the red on September 7. The company reported 5 percent jump in its August Crude Steel Production at 13.77 lakh tonnes.
Orient Cement | CMP: Rs 161.50 | The scrip shed over 2 percent after HDFC Asset Management Company sold 44.70 lakh shares in the company via open market transaction on September 3, reducing shareholding to 2.97 percent from 5.15 percent earlier.
Edelweiss Financial Services | CMP: Rs 79.30 | The stock ended in the red on September 7. Edelweiss Asset Reconstruction Company Limited (EARC), a subsidiary of Edelweiss Financial Services has received the approval of the Reserve Bank of India for conversion of the Compulsorily Convertible Preference Shares (CCPS) held by CDPQ Private Equity Asia Pte Ltd. (CDPQ) in EARC and, consequently, CDPQ becoming a Sponsor of EARC as per the RBI Regulations.
Sandip Das
