Except BSE metal and pharma, all other sectoral indices ended in the green, with bank, Oil & gas and power rising up to 2 percent
January 04, 2022 / 05:10 PM IST
India’s benchmark indices ended higher for the third consecutive session on January 4, supported by power, oil & gas and banking names. At close, the Sensex was up 672.71 points, or 1.14%, at 59,855.93, and the Nifty was up 179.60 points, or 1.02%, at 17,805.30.
Wockhardt | CMP: Rs 437.75 | The stock price jumped 6 percent after the pharma firm said that a meeting of the board of directors would be held on January 6, 2022, for considering and approving various fund-raising options as it may deem appropriate.
Marico | CMP: Rs 502.95 | The share shed over 2 percent on January 4. Revenue growth of the company in Q3FY22 was in double digits, while volumes were flat due to weak consumption and a strong base. The international business delivered high teen constant currency growth on a healthy base. All markets fared positively, led by Bangladesh and a smart recovery in Vietnam, the firm said.
YES Bank | CMP: Rs 14.55 | The stock jumped over 3 percent after the private lender reported better loan and deposits numbers for the quarter ended December 2021. Yes Bank posted a 2.1 percent increase in net advances to Rs 1,76,422 crore during the third quarter of the financial year 2021-22 against Rs 1,72,839 crore in the previous quarter. The net advances rose 3.9 percent year-on-year from Rs 1,69,721 crore. Deposits rose 4.3 percent quarter on quarter and 26 percent YoY to Rs 1,84,289 crore.
Tata Motors | CMP: Rs 489.35 | The scrip was down over a percent on January 4. Broking house CLSA has downgraded the rating to “sell” from “buy” and cut the target to Rs 408 from Rs 450. The domestic passenger vehicle business is overvalued, while JLR is behind in electrification. The valuation is based on Rs 150 a share for commercial vehicle business, Rs 151 per share for JLR & Rs 99 a share for domestic passenger vehicle business, it added. CLSA expects a sharp improvement in volume for JLR as chip shortage eases and believes the company’s domestic commercial vehicle business will post strong growth over the next three years.
Larsen & Toubro | CMP: Rs 1,937.50 | The stock price ended in the green after the Heavy Civil Infrastructure business of L&T Construction won an order from Delhi Metro Rail Corporation Limited (DMRC) for the design and construction of the Underground Metro Project of Phase-1 of Patna MRTS.
Adani Ports | CMP: Rs 739 | The share price ended in the green on January 4. The company during the nine months ended December 31, 2021 handled a cargo volume of 234.31 MMT, a year-on-year growth of 35%, which surpassed the cargo volume handled by APSEZ in FY20. During the period non-Mundra ports grew by 74% and contributed 52% of the total cargo basket.
Dilip Buildcon | CMP: Rs 434.25 | The share ended in the green after the company received a letter of acceptance for the tender floated by South Eastern Coalfields (SECL) for the removal of overburden in Madhya Pradesh. The contract is worth Rs 2,683.02 crore.
Alembic Pharma | CMP: Rs 840 | The scrip was up 4 percent after the firm received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Doxycycline Hyclate Delayed-Release Tablets USP, 75 mg, 100 mg, 150 mg, and 200 mg.
Railtel Corporation | CMP: Rs 119.50 | The stock price added 2 percent after the company said a meeting of the board of directors would be held on January 10, 2022, to consider the declaration of an interim dividend, if any, for the financial year 2021-22.
Megasoft | CMP: Rs 85.15 | The share jumped 5 percent after the firm concluded and signed a lease agreement for the third and final block (Block 3) for its share, and part rental payments are expected to be received from QL of 2022 after adjusting for the rent-free period.
