India’s benchmark indices ended on a positive note on November 25, with Nifty finishing the F&O series above 17,500 supported by the Reliance Industries and realty and pharma names. At close, the Sensex was up 454.10 points or 0.78% at 58,795.09, and the Nifty was up 121.30 points or 0.70% at 17,536.30.
Reliance Industries | CMP: Rs 2,501 | The stock price jumped over 6 percent after the company’s board decided to implement a scheme of arrangement to transfer Gasification Undertaking into a wholly-owned subsidiary (WOS). “Reliance Industries’ board on November 24 announced that it has decided to implement a scheme of arrangement (Scheme) to transfer Gasification Undertaking into a wholly-owned subsidiary (WOS),” the company said in a press release. The board has decided to implement a scheme of arrangement between Reliance Industries and its shareholders and creditors; and Reliance Syngas (RSL) and its shareholders and creditors. Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
JSW Energy | CMP: Rs 313.60 | The share added 2 percent after the board of directors on November 25 approved the re-organisation of the JSW Energy’s Green (Renewable) Business and Grey (Thermal) Business. To facilitate growth and unlock value for the shareholders, the renewable energy business will be housed under ‘JSW Neo Energy Limited’, a wholly owned subsidiary of the company, while the thermal business will continue to be housed in the company, it said.
aurionPro Solutions | CMP: Rs 216.95 | The stock jumped 5 percent after the company bagged an order from the Uttar Pradesh government. The company will be the system integrator for implementing “IoT based Integrated Bus ticketing System” for the Uttar Pradesh State Road Transport Corporation (UPSRTC) on a Build Own Operate and Transfer (‘BOOT’) model. The project is expected to be worth more than Rs 60 crore, with the minimum guaranteed revenue.
Mukta Arts | CMP: Rs 51 | The scrip surged 10 percent after the company launched new properties in Gujarat’s Ahmedabad, Punjab and Odisha. “Mukta A2 Cinemas a subsidiary of Mukta Arts announced the launch of its new properties at Ahmedabad, Punjab and Orissa,” the company said in a release. Mukta A2 Cinemas on November 25 opened its four-screen property at Rajyash Rise in Ahmedabad, it added.
Siemens | CMP: Rs 2,172.30 | The stock price was down over 4 percent after its net profit was down 7.2% at Rs 330.9 crore from Rs 356.7 crore in the same period last fiscal. Its revenue was up 21.1% at Rs 4,296.1 crore versus Rs 3,546.8 crore YoY. Earnings before interest, tax, depreciation and amortization was down 1.9% at Rs 447.2 crore versus Rs 456 crore and margin at 10.4% versus 12.9%, YoY.
One97 Commmunications | CMP: Rs 1,785 | The stock added 2 percent, extending gains for the third straight day after seeing a disappointing debut. While analysts believe investors were trying to average out their buy price after the weak debut, a Bloomberg report said many anchor investors in Paytm’s initial public offering likely increased their stake in the payments giant after shares fell to as low as Rs 1,272. BlackRock and Canada Pension Plan Investment Board bought more Paytm shares on November 23 and 24, the report said, quoting unnamed sources. The quantum of the stake increase was unknown.
Lyka Labs | CMP: Rs 141.75 | The share gained 5 percent after Ipca Laboratories acquired 48 lakh equity shares in the company at Rs 130.4 a share, the bulk deals data showed.
Bharti Airtel | CMP: Rs 423.90 | The stock ended flat on November 25. Fitch Ratings has affirmed India-based Bharti Airtel Limited’s Long-Term Foreign-Currency Issuer Default Rating and senior unsecured rating at ‘BBB-‘. The Outlook on the IDR is negative. Fitch also affirmed Bharti Airtel International (Netherlands) B.V.’s senior unsecured guaranteed bonds at ‘BBB-‘ and Network i2i Limited’s subordinated perpetual bond at ‘BB’.
UPL | CMP: Rs 727.70 | The scrip ended in the green on November 25. Promoter Uniphos Enterprises acquired 1.37 lakh equity shares in the company via open market transactions, increasing shareholding to 5.17 percent from 5.15 percent earlier.
CyberTech Systems | CMP: Rs 159 | The share price was up over a percent on November 25 after India Rating & Research (Fitch Group) has upgraded the rating of CyberTech Systems from Long-Term Issuer Rating at ‘BBB-/Stable/A3’ to ‘BBB/Stable/A3+’.