All the sectors ended in the red with auto and metal indices declining over 2 percent each. The BSE midcap and smallcap indices fell 1.5 percent each.
Benchmark indices ended lower for the third consecutive session on November 18, with selling seen in auto, metal, IT, pharma, and realty names. At close, the Sensex was down 433.05 points or 0.72% at 59,575.28, and the Nifty was down 133.90 points or 0.75% at 17,764.80.
One 97 Communications | CMP: Rs 1,560 | The scrip crashed 20 percent on debut. During the trade, it plunged as much as 26.2 percent to hit a low of Rs 1,586 amidst weak market conditions. Though Paytm has a strong market share, what triggered the selling was its high valuation, muted investor response, and loss-making business, experts say.
MTNL | CMP: Rs 18.70 | The stock was up over 3 percent after a media report said the government has a revival plan in place. A package plan worth nearly USD 17.54 billion to revive state-run telecom companies MTNL and BSNL has been drawn up, according to news agency NewsRise. The proposed details are expected to be floated in the cabinet next month, the agency reported, citing a senior government official aware of the development.
Vedanta | CMP: Rs 309.50 | The stock tumbled over 8 percent after the company said it has appointed a committee of directors to evaluate and recommend a range of options and alternatives, including demergers, spin-offs or strategic partnerships of its aluminium, iron & steel, and oil & gas businesses.
Escorts | CMP: Rs 1,796 | The scrip jumped over 10 percent after the company board approved further stake acquisition by Kubota Corporation. Escorts board approved to increase in shareholding in the company by Kubota Corporation. The company board in its meeting held on November 18 approved the raising of equity capital aggregating to Rs 1,872 crore through preferential issue of 93,63,726 equity shares of face value Rs 10 at Rs 2,000 per share (including a premium of Rs 1,990 for each equity share), to Kubota Corporation, Japan.
NCC | CMP: Rs 77.60 | The stock slipped over a percent. NCC has received three new orders totaling to Rs 2,167 crore so far in the month of November, 2021. All three orders pertain to building division and are received from a State Government agency and do not include any internal orders, the company said in an exchange filing.
Bharat Rasayan | CMP: Rs 9,984.95 | The stock ended in the red on November 18. The firm issued commercial papers of Rs 50 crore value dated November 18, 2021, having maturity on February 16, 2022, which have been rated “CARE A1+”. The company has appointed HDFC Bank Limited as Issuing & Paying Agent for this issuance.
Hindustan Zinc | CMP: Rs 321.90 | The share shed over 3 percent after the Supreme Court allowed government stake sale in the company. Supreme Court has allowed government stake sale in the company. However, the government is entitled to make a decision on divesting its stake, reported CNBC-TV18. The top court directed CBI probe into the 2002 divestment of government stake in the company.
Rajesh Exports | CMP: Rs 723.15 | The stock price was down over 2 percent after the firm bagged a prestigious order worth Rs 782 crore of designer range of jewellery from Germany. The said order is to be completed by March 2022, company said in the press release. The company will be executing the order from its own manufacturing facility. It is confident of executing this order well within the time frame on the back of its expertise, skilled craftsmen, artisans & its exceptionally strong backward integrated infrastructure, the company added.
Phoenix Mills | CMP: Rs 1,093 | The stock ended in the green after Canada Pension Plan Investment Board has invested Rs 787 crore in the company’s subsidiary. CPP Investments has, on November 16, 2021, completed its first tranche of investment in Plutocrat Commercial Real Estate Private Limited (PCREPL) on private placement basis and by way of secondary acquisition of equity shares held by the company in PCREPL aggregating Rs 787 crore,” the company said in the release.
GMR Infrastructure | CMP: Rs 39.20 | The share price ended in the red on November 18. GMR Airports (GAL), a subsidiary of GMR Infrastructure, today announced as the winning bidder for the development and operation of Kualanamu International Airport in Medan, Indonesia. GMR Airports Limited and its wholly-owned subsidiary, GMR Airports International B.V had bid for the project as consortium.
Sandip Das
