Benchmark indices erased previous session losses and ended higher with Nifty closing near 17,100. At close, the Sensex was up 334.86 points or 0.59% at 57,459.17, and the Nifty was up 92.50 points or 0.54% at 17,096.30.
RBL Bank | CMP: Rs 141.60 | The stock tumbled over 18 percent after the Reserve Bank of India appointed Yogesh K Dayal as an additional director on the board of the bank. “The Reserve Bank of India appointed Mr. Yogesh K Dayal, Chief General Manager, Reserve Bank of India as an additional director on the board of the RBL Bank for a period of two years w.e.f December 24, 2021 till December 23, 2023 or till further orders, whichever is earlier,” the bank said in its press release. In an another development, the company board at its meeting held on December 25, 2021 accepted the request of Vishwavir Ahuja to proceed on leave with immediate effect.
HFCL | CMP: Rs 79.80 | The share price gained over 3 percent after the company received approval as a ‘trusted source’ from NSCS. The National Security Council Secretariat (Trusted Telecom Cell) has recognised the innovation-led telecom enterprise as a trusted source on matters of national security and strategic interest. With this tag, HFCL joins a premium league of companies and has become a trusted source for all Indian telecom service providers (TSPs) for their active network products and infrastructure, according to a filing with the exchange.
HP Adhesives | CMP: Rs 330.75 | The scrip jumped over 20 percent on December 27. The stock started off the day on a strong note with the stock listing at a 16 percent premium over the issue price of Rs 274 per share. The offer was subscribed 20.96 times during December 15-17 as the portion set aside for retail investors saw a whopping 81.24 times subscription and that of non-institutional investors saw 19.04 times subscription. A part set aside for qualified institutional buyers was subscribed 1.82 times.
Lupin | CMP: Rs 918 | The stock price added over 2 percent on December 27. The company received USFDA approval for Sevelamer Carbonate for Oral Suspension. “Lupin has received approval from the United States Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) Sevelamer Carbonate for Oral Suspension, 0.8 g and 2.4 g packets to market a generic equivalent of Renvela for Oral Suspension, 0.8 g and 2.4 g Packets of Genzyme,” company said in its press release. This product will be manufactured at company’s Goa facility in India.
Vedanta | CMP: Rs 340.20 | The share ended in the red on December 27. India Ratings and Research has revised company’s Outlook to Positive from Stable while affirming its Long-Term Issuer Rating at ‘AA-‘.
GMR Infrastructure | CMP: Rs 46 | The stock price rose over 7 percent after GMR Airports Netherlands BV, a step down subsidiary of GMR Airports, signed the Shareholders’ Agreement (SHA) and Share Subscription Agreement (SSA) with Angkasa Pura II (AP II) for the development and operation of Kualanamu International Airport (Project) in Medan, Indonesia.
Lloyds Steels Industries | CMP: Rs 16.30 | The share gained 5 percent after the company board decided to issue and allot, by way of preferential allotment, up to Rs 20.72 crore worth of optionally fully convertible debentures to non-promoters. The funds will be used for general corporate purpose like working capital and needed capex. This would ensure that the company retains its virtual debt free status in spite of planned growth, the firm said.
Firstsource Solutions | CMP: Rs 184.60 | The scrip ended in the green on December 27. Sourcepoint Inc, a step-down subsidiary of the company, has completed the acquisition of The StoneHill Group Inc. (TSG), a leading US mortgage services provider, the firm said.
Ircon International | CMP: Rs 44.65 | The stock closed in the red on December 27. The company has incorporated a wholly owned subsidiary company – Ircon Ludhiana Rupnagar Highway Limited – as a special purpose vehicle for the construction of four/ six lane Greenfield Ludhiana Rupnagar National Highway in Punjab on Hybrid Annuity Mode.
Orchid Pharma | CMP: Rs 393 | The share ended flat on December 27. CARE retained rating on the company’s long-term bank facilities at ‘BBB-‘ but revised outlook from Stable to ‘Placed on Credit Watch with Developing Implications’, on account of the proposed Scheme of Amalgamation and Arrangement between Dhanuka Laboratories and the company.