Except auto and oil & gas, all other sectoral indices ended lower with IT and Realty indices down 1 percent each. The BSE midcap and smallcap indices ended on a flat note.
Benchmark indices broke the four-day winning streak and ended lower with Nifty below 17800 on the back of weak global cues. At close, the Sensex was down 621.31 points or 1.03% at 59,601.84, and the Nifty was down 179.40 points or 1% at 17,745.90.
Bharti Airtel | CMP: Rs 710.75 | The stock ended in the green after the telecom major formed a joint venture with Hughes Communications for satellite broadband services. The agreement, announced in May 2019, has got all statutory approvals, including those from the NCLT and telecom department, the company said in an exchange filing. Research and broking firm ICICI Direct in its research report has retained ‘buy’ call on the stock with target of Rs 860 per share, an upside of around 20 percent from current market price.
Reliance Industries | CMP: Rs 2,419.15 | The share price slipped 2 percent on January 6. The company successfully priced fixed rate senior unsecured notes for an aggregate amount of USD 4 billion across three tranches. The Notes were nearly 3 times oversubscribed with a peak order book aggregating ~ USD 11.5 billion and were priced through RIL’s secondary curve. Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
ADF Foods | CMP: Rs 879 | The stock price ended in the red on January 6 despite rising over 2 percent in intraday trade. The company received approval from the Government of India under Production Linked Incentive (PLI) scheme for food processing industries. “ADF Foods Industries has received approval from the Government of India under Category III pf the PLI scheme for food processing industries – incentive for undertaking branding and marketing activities abroad,” company said in its release.
NHPC | CMP: Rs 32.05 | The share price ended in the green after the company signed an agreement with Green Energy Development Corporation of Odisha (GEDCOL) for formation of a JV company for development of 500 MW floating Solar Power Projects in various water reservoirs in Odisha state.
RBL Bank | CMP: Rs 136 | The stock was up over 2 percent after the company reported better loan growth for the quarter ended December 31, 2021. RBL Bank’s gross advances jumped 5 percent year-on-year to Rs 59,941 crore (provisional) in Q3FY22 from Rs 57,092 crore in the same quarter of the previous fiscal year. Sequentially, it was up 3.5 percent from Rs 57,939 crore in Q2FY22. Retail advances remained flat, while wholesale advances grew 8 percent sequentially during the three month period.
Alembic Pharma | CMP: Rs 816.20 | The scrip ended flat on Jaunaury 6. The firm received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Entacapone Tablets USP, 200 mg. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Comtan Tablets, 200 mg, of Orion Corporation. Entacapone Tablets are indicated as an adjunct to levodopa and carbidopa to treat end-of-dose “wearing-off” in patients with Parkinson’s disease.
IRB Infrastructure | CMP: Rs 231.35 | The stock price gained over 3 percent after the company informed that Meerut Budaun Expressway Private Limited, wholly-owned subsidiary of the Company, has executed Concession Agreement with Uttar Pradesh Expressways Industrial Development Authority(U llEIDA) for development of Access Controlled Six Lane (Expandable to Eight Lane) Greenfield ‘Ganga Expressway’ spread over 129.7 km.
UPL | CMP: Rs 781.40 | The share added over 2 percent after brokerage firm CLSA kept buy call on UPL and raised the target price to Rs 1,100 from Rs 1,060. The new launch successes are key to achieving goal of 25% EBITDA margin, while transition towards high-value products should drive a P/E rerating. It raised FY22-24 EPS estimates by 2-3% as it builds in spot currency assumptions.
Orient Green Power | CMP: Rs 23.50 | The scrip jumped over 4 percent on January 6. Axis Bank offloaded 38 lakh shares in the company at Rs 22.4 per share on the NSE, and sold 45 lakh shares at Rs 22.8 per share on the BSE, the bulk deals data showed.
Spandana Sphoorty | CMP: Rs 403 | The scrip fell over 2 percent after the company reported Q3 net loss at Rs 58.7 crore against profit of Rs 66.9 crore (YoY); GNPA at 6.1% against 4.6% QoQ.
Sandip Das
