All sectoral indices ended in the green with realty, capital goods, pharma, energy, IT and metal indices adding up to 3 percent. BSE midcap and smallcap indices gained over a percent each
The benchmark indices snapped the two-day losing streak to end higher on December 21. The Sensex was up 497 points, or 0.89%, at 56,319.01 and the Nifty was up 156.60 points, or 0.94%, at 16,770.80.
Strides Pharma Science | CMP: Rs 419.25 | The company share price gained nearly 2 percent on December 21 after Stelis Biopharma Limited (Stelis), the biotech division of Strides Pharma Science, commissioned its large-scale fully integrated vaccine manufacturing facility in Bengaluru.
IOC | CMP: Rs 109.50 | The share price ended in the green after the company’s board accorded approval to a new crude oil pipeline system with nameplate capacity of 17.5 MMTPA from Mundra to Panipat alongwith with augmentation of crude oil tank farm at Mundra, at an estimated cost of Rs 9,028 crore. The board also gave the nod to the acquisition of 36,93,750 equity shares of the face value of Rs 10 each equivalent to 4.93% of the share capital in Indian Gas Exchange Limited (IGX).
Shilpa Medicare | CMP: Rs 550.05 | The share price jumped 4 percent on December 21 after the company launched PRUCALSHIL (Prucalopride) orally disintegrating strips 1 mg and 2 mg’ in India, a formulation developed for the first time in the world. The company has developed a novel ‘Orally Disintegrating Strip (ODS)’ formulation for Prucalopride and obtained subsequent approval from Drug Control General of India.
Piramal Enterprises | CMP: Rs 2,548.15 | The company share price gained nearly 4 percent after its subsidiary, Piramal Pharma, entered into agreements and acquired a 27.78% stake in Yapan Bio Private for an investment of Rs 101.77 crore (cash consideration).
Gujarat Gas | CMP: Rs 626.40 | The share price rose 2.5 percent after foreign research firm Jefferies maintained a buy rating with the target price at Rs 830 a share. The recent Morbi channel checks suggest volumes at 6.50-7/5.70 mmscmd in November/ December, while volumes have been range-bound in order to mitigate exposure to high spot LNG prices, said Jefferies.
RailTel Corporation of India | CMP: Rs 115.50 | The company share price rose more than a percent after it received work order from Defence R&D Organisation for the expansion and the enhancement of CIAG network capacity at a total cost of Rs 68.31 crore. The work is to be completed in seven months.
Adani Enterprises | CMP: Rs 1,622.00 | The share price added nearly 2 percent on December 21 after Adani Group was awarded three greenfield Ganga Expressway Projects under DBFOT (Toll) basis of 594 kms by UPEIDA in Uttar Pradesh. Adani Enterprises (AEL) participated in the competitive bidding process invited by UPEIDA for the development, financing and construction of Ganga Expressway on PPP basis.
L&T | CMP: Rs 1,826.80 | The company share price rose more than a percent after its wholly-owned subsidiary, Larsen & Toubro International FZE, entered into a share-purchase agreement to purchase a stake in Intelliflux Controls INC., a Delaware Corporation.
Godrej Consumer Products | CMP: Rs 936.40 | The company share price added 5 percent after foreign research firm UBS kept the “buy” call with a target at Rs 1,175 a share. The new MD & CEO, had outlined the strategy for the next three-five years and intended to increase investments by reduction in overheads & lower discounts/BTL spends. “The company to focus on category development, driven by higher A&P spends, sampling & distribution. The company expects gross & EBITDA margins to recover only in FY23,” UBS added.
Wipro | CMP: Rs 690.75 | The share price rose more than 3 percent after it signed an agreement to acquire Austin, Texas, headquartered Edgile, a transformational cybersecurity consulting provider that focuses on risk and compliance, information and cloud security, and digital identity.
Rakesh Patil
