Except metal, all sectoral indices ended in the green. PSU bank, realty, FMCG, oil & gas, power indices were up 1-2 percent. The BSE midcap index added a percent and smallcap index rose 0.73 percent.
India’s benchmark indices ended higher for the third straight day on December 23, supported by positive global cues. At close, the Sensex was up 384.72 points, or 0.68%, at 57,315.28, and the Nifty was up 117.10 points, or 0.69%, at 17,072.60.
Great Eastern Shipping Company | CMP: Rs 296.40 | Shares of Great Eastern Shipping Company jumped over 7 percent ahead of a meeting of the board of directors on December 27, 2021. A proposal for a share buyback is to be taken up during the meeting, the company has said.
GPT Infraprojects | CMP: Rs 85.80 | The share price added 13 percent on December 23 after the company bagged a Rs 187.81-crore order from the office of the General Manager, Tender & Contract, Maharashtra Rail Infrastructure Development Corporation Limited. The contract includes the construction of cable-stayed road overbridge (ROB) near Byculla railway station between Sandhurst Road-Byculla stations on the CSTM-Dadar section of the Mumbai division of the Central Railway.
Jubilant Foodworks | CMP Rs 3,536.45 | The share price rose 3 percent after brokerage firm Morgan Stanley reiterated its “overweight” stance on the stock. The research firm also raised the target price to Rs 5,000.
Zee Entertainment | CMP: Rs 338.10 | Zee Entertainment Enterprises’ share price slipped 3 percent a day after merger approval with Sony Pictures Networks India. Punit Goenka, who will lead the combined company as its Managing Director and CEO, said the entire merger process along with approvals will take eight to 10 months. “While this is a positive step, there are multiple stages in bringing the combined company into existence. As for the process, we will move to the next step that involves all the necessary regulatory and shareholder approvals,” he said during a conference call.
Mold-Tek Packaging | CMP Rs 770.15 | The share price gained nearly 3 percent after the company successfully completed its QIP issue by raising Rs 103.6 crore. The company received an overwhelming response for the issue from several marquee investors. The Qualified Institutions Placement Committee approved the allotment of 14 lakh equity shares to the eligible qualified institutional buyers at a price of Rs 740 apiece, which is at a premium of 17.60 on the floor price of Rs 722.40.
Dilip Buildcon | CMP Rs 491 | The share price gained nearly 3 percent after the company said the four-laning of Sangli- Solapur (Package-IV: Mangalwedha to Solapur) road has been provisionally completed. “The Provisional Completion Certificate has been issued by the authority and had declared the project fit for entry into commercial operation as on December 14, 2021,” the infrastructure company said in a release.
Man Industries | CMP Rs 97.50 | The company share price gained over 3 percent after it received new orders worth approximately Rs 225 crore resulting in the new orders tally reaching approximately Rs 900 crore in the current quarter. With these new orders the unexecuted order book as on date stands at approximately Rs 1700 crore to be executed in six to seven months.
Jindal Saw | CMP: Rs 103.45 | Jindal Saw share price added 3.5 percent after the company entered into a joint venture agreement with Hunting Energy Services Pte Ltd., Singapore. A joint venture company will be incorporated in India with 51% shareholding to be held by the company and the remaining 49% to be held by Hunting to set up a world-class, state-of-the-art precision machine shop to thread premium connections in India for Oil Country Tubular Goods (OCTG), including accessories for markets across the globe.
Shriram Transport Finance Company | CMP: Rs 1,207 | The share price advanced 3 percent after the Ministry of Corporate Affairs, Office of the Registrar of Companies, Central Registration Centre, through a letter dated December 22, 2021 said they had no objection to the of change the name to “Shriram Finance” from “Shriram Transport Finance Company”.
Hero MotoCorp | CMP: Rs 2,393.40 | The share price gained nearly 2 percent on December 23 as the company announced an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from January 4, 2022. The price revision will be up to Rs 2,000 and the exact quantum of increase will depend on the model and the market.
Rakesh Patil
