Inflation concerns weighed on the sentiment as wholesale price inflation rose to 11.39 percent in August, snapping a two-month easing trend
The market ended flat on September 14. The Sensex closed 69 points, or 0.12 percent, up at 58,247.09, while the Nifty finished with a gain of 25 points, or 0.14 percent, at 17,380.
Zee Entertainment | CMP: Rs 261.70 | The scrip zoomed 40 percent on September 14, a day after Zee Entertainment’s largest shareholders Invesco Developing Markets Fund and OFI Global China Fund LLC, which together hold 17.88 percent of stake in the company, called an extraordinary general meeting (EGM) seeking removal of Punit Goenka, Manish Chokhani and Ashok Kurien as directors of the firm.
Dish TV | CMP: Rs 21.25 | The stock jumped almost 10 percent amid the notice issued by Yes Bank, the shareholder in the company, to rejig board. The bank, on September 4 in its special notice, asked the company to consider and clear the removal of Rashmi Aggarwal, Bhagwan Das Narang, Shankar Agganval, Jawahar Lal Goel, and Ashok Mathai Kurien as directors, at the 33rd Annual General Meeting of the company to be held on September 27, 2021.
Hindustan Aeronautics | CMP: Rs 1,407.30 | The stock ended marginally in the green on report that the government is initially looking to sell a 0.15 percent stake, or around 5 lakh shares, via HAL’s OFS. It held a 75.15% stake in HAL as of June 2021. The government may look at selling more stake if there is strong market demand. It has asked bankers to give a report on market demand for HAL’s OFS.
Zomato | CMP: Rs 143 | The stock came under pressure after Gaurav Gupta, one of the top executives and co-founder, of the food tech platform Zomato decided to leave the company.
Godawari Power | CMP: Rs 1,270.50 | The scrip jumped 5 percent after the company’s board approved the proposal for sub-division of equity share of the face value of Rs 10 each into two of Rs 5 each subject to shareholders’ approval.
Escorts | CMP: Rs 1,461.90 | The stock price jumped 6 percent after Escorts Limited (Agri Machinery) reinforced its relationship with IndusInd Bank with a formal Memorandum of Understanding that will pave the way for both companies to provide financial offerings to its customers.
HCL Tech | CMP: Rs 1,237 | The stock added over 2 percent after the company signed a strategic partnership agreement with South Korean company HANCOM for tech solutions. HCL Technologies and HANCOM Inc. have signed a strategic partnership to share advanced software technology solutions and establish a mutual bridgehead for overseas expansion. HCL will support training for software development at HANCOM’s R&D center in India.
KNR Constructions | CMP: Rs 311 | The scrip was up 2 percent after the company received a Letter of Acceptance for Hyderabad Growth Corridor (HGCL)—widening of existing service roads from Nanakramguda to TSPA and Narsingi to Kollur and BT overlay of bitumen pavement from Gachibowli to Shamshabad of Outer Ring Road, Hyderabad. The contract is worth Rs 312.79 crore and has to be completed within 15 months from the date of signing of the agreement.
Dilip Buildcon | CMP: Rs 519 | The share added a percent after subsidiary Bangalore Malur Highways received the letter of the appointed date from the National Highways Authority of India.
Laurus Labs | CMP: Rs 649.80 | The share ended in the green after the company said it is developing a third-line HIV treatment, darunavir boosted with ritonavir (DRV/r), for children.
Sandip Das
