Except IT, pharma and power all other sectoral indices ended in the green, with auto, bank, metal, realty and oil & gas indices up 1-2 percent. The BSE midcap index added 0.36 percent, while smallcap index ended flat
The fourth straight session of gains on January 5 pushed the benchmark indices past psychologically important levels on the back of a strong showing by auto, bank, metal, realty and oil & gas stocks. At close, the Sensex was up 367.22 points, or 0.61%, at 60,223.15, and the Nifty was up 120 points, or 0.67%, at 17,925.30.
Bajaj Finance | CMP: Rs 7,665 | The share price added more than 4 percent after the non-banking finance company (NBFC) posted a 26.3 percent jump in the assets under management in the third quarter of FY22 ended December 31. The assets under management rose to Rs 181,300 crore in Q3FY22 from Rs 143,550 crore in the year-ago period, the NBFC said. It booked 7.4 million new loans in the December quarter, up from 6 million in the same quarter of the previous year.
Panama Petrochem | CMP: Rs 287.25 | The stock surged over 11 percent after the exchange data showed that Ramesh Damani bought 1.26 percent stake in the company in the third quarter.
Nelco | CMP: Rs 751.85 | The share jumped 5 percent after the firm said it bagged a contract for a turnkey project from Oil and Natural Gas Corporation (ONGC) worth more than Rs 40 crore. The scope of the project entails supply, commission, and maintenance of ONGC’s captive very small aperture terminal (VSAT) based network. This network would be used to enhance the communication infrastructure of ONGC’s Western India offshore sites, it added.
HFCL | CMP: Rs 85.25 | The stock jumped over 7 percent after the company announced powering its network offerings with artificial intelligence (AI)-based analytics, partnering with Aprecomm, a leading AI-powered wi-fi analytics technology provider.
AU Small Finance | CMP: Rs 1,174 | The scrip gained over 7 percent on Jaunuary 7. Global research and broking firm Morgan Stanley has an “overweight” call on the stock with a target at Rs 1,500 a share, an upside of over 28 percent from the current level. The research firm is of the view that the third quarter AUM growth was strong helped by a 36 percent on-year growth in disbursements, adding that collection efficiency remains strong with no restructuring during the period.
Force Motors | CMP: Rs 1,243.80 | The share ended in the red on Januray 5. The company’s total sales rose 46 percent at 1,657 units in December 2021 against 1,134 units in November 2021, the firm said in an exchange filing.
Macrotech Developers | CMP: Rs 1,240 | The scrip ended in the green on Jaunuary 5. The firm’s UK projects clocked record sales of £191 million (Rs 1,900 crore) in the third quarter. “We believe that MDL’s investment in the UK will be significantly repatriated back to India in FY 23,” Macrotech Developers said in a release.
Bharti Airtel | CMP: Rs 700 | The share ended in the green on Januray 5. Hughes Communications India Pvt Ltd (HCIPL) and Bharti Airtel announced the formation of a joint venture to provide satellite broadband services in India. The agreement, announced in May 2019, had received all statutory approvals, including those from the National Company Law Tribunal and the Department of Telecom, and the joint venture had been formed.
GAIL India | CMP: Rs 135.90 | The stock price was up over 2 percent after the company acquired equity stake of 26 percent held by IL&FS Energy Development Company (IEDCL) and IL&FS Financial Services Ltd (IFIN) in ONGC Tripura Power Company (OTPC). OTPC owns and operates a 726.6 MW gas-based combined cycle power plant in Palatana, Tripura.
Go Fashion India | CMP: Rs 1,048 | The stock ended in the green after SBI Funds Management acquired 0.85 percent stake in the company via open market transaction on January 3, increasing its shareholding in the company to 5.43 percent from 4.57 percent.
Sandip Das
