All sectoral indices ended in the green. Auto, bank, realty, capital goods, pharma, oil & gas, power and metal indices rose up to 3 percent. BSE midcap and smallcap indices added a percent each
Indian benchmark indices extended the rally for the second day on December 22. At close, the Sensex was up 611.55 points, or 1.09%, at 56,930.56, and the Nifty was up 184.70 points, or 1.10%, at 16,955.50.
Larsen & Toubro | CMP: Rs 1,865.95 | The share price rose 2 percent after the company’s construction arm secured a “significant order” for its buildings and factories business from a reputed developer. It got the order to construct one of the largest residential townships in Bengaluru, the company said.
Cadila Healthcare | CMP: Rs 466.90 | The company share price added 2.5 percent on December 22 after Zydus Cadila received tentative approval from the USFDA to market Pimavanserin Tablets, 10 mg (US RLD: Nuplazid Tablets). Pimavanserin is used to treat the symptoms of a certain mental/mood disorder (psychosis) that might occur with Parkinson’s disease. It helps lessen symptoms such as seeing or hearing things that are not there (hallucinations) and false beliefs (delusions).
Dish TV India | CMP: Rs 17.65 | The share price gained 3 percent after the markets regulator SEBI disposed of a case of alleged insider trading against Dish TV India’s corporate promoter Direct Media Distribution Ventures Pvt Ltd. It was alleged that it had violated provisions of prohibition of insider trading norms.
India Cements | CMP Rs 186.70 | The share price jumped more than 5 percent on December 22 after billionaire investor Radhakishan Damani increased his stake in the company to 22.76 percent, up from 21.14 percent at the end of September. RK Damani has been increasing his stake in the cement company marginally since last year. He held 19.89 percent shares in the company in the March quarter of 2020 and raised it to 20.4 percent in July 2020. In January 2021, Damani had increased his stake to 21.14 percent and maintained it for the next 11 months.
MK Exim (India) | CMP: Rs 218.90 | The company share price added 5 percent after its board approved the issue of bonus equity shares in the proportion of two equity shares of Rs 10 each for every one equity share of Rs 10 each held by the shareholders.
Yes Bank | CMP: Rs 13.67 | The company share price added nearly 5 percent on December 22 after the board approved raising funds up to Rs 10,000 crore. The private sector lender said in a regulatory filing that pursuant to this, Yes Bank would seek approval from its shareholders, which in effect would result in seeking an extension on the current shareholder approval that expires on February 28, 2022. The board had in June 2021 given its nod to raise another Rs 10,000 crore through the issuance of debt securities.
PNC Infratech | CMP: Rs 272.95 | The company share price added nearly 4 percent after its announced receipt of Letter of Acceptance (LOA) from National Highways Authority of India, for collection of user fee at 135 km long Eastern Peripheral Expressway Fee Plazas (National Highway No. NE II) in the states of Haryana and Uttar Pradesh for one year for a contract value of Rs 369 crore.
ABB India | CMP: Rs 2,281 | The company share price rose 3.5 percent after the board approved the sale of the company’s turbocharger business as a going concern, on a slump sale basis to its wholly- owned subsidiary for Rs 310 crore. The sale will be consummated by end of February 2022.
Deepak Nitrite | CMP: Rs 2,335 | The company share price rose over 2 percent after the board approved raising of funds through the issuance of equity shares of the company or any other equity-linked securities of the company or other securities convertible into or exchangeable for equity shares by way of qualified institutions placement, in one or more of the tranches for an amount aggregate up to Rs 2,000 crore.
Bal Pharma | CMP: Rs 99.50 | The share price added 2.5 percent after rating agency ICRA upgraded the credit rating outlook from “stable” to “positive”.
Rakesh Patil
