Among sectors, the metal index fell over 2 percent, while buying was seen in IT, power, oil & gas and realty stocks. BSE midcap and smallcap indices ended flat
The Indian benchmark indices ended higher in a volatile session on January 11, led by gains in information technology, power and realty stocks. At close, the Sensex was up 221.26 points, or 0.37%, at 60,616.89 and the Nifty was up 52.50 points, or 0.29%, at 18,055.80.
Vodafone Idea | CMP: Rs 11.75 | The share was down over 20 percent despite the company’s board approving the conversion of the full amount of interest related to spectrum auction to instalments and adjusted gross revenue (AGR) dues into equity. The conversion will result in dilution to all the existing shareholders of the Company, including the promoters. After the government became the owner of a third of Vodafone Idea, a Deutsche Bank analyst said the state support would be a good start for the telecom company but won’t be enough for the beleaguered service provider. Voda Idea’s troubles may be far from over even after the respite in statutory dues though the government is working to ensure that the telecom sector does not become a two-player market.
Paytm | CMP: Rs 1,116.50 | The stock was down over 3 percent despite a more than fourfold jump in loan disbursals in the December 2021 quarter. The number of loans disbursed through its platform increased by 401 percent YoY to 4.4 million in Q3 FY2022. The value of loans disbursed during the quarter was Rs 2,180 crore (run-rate of $ 1.2 billion), an increase of 365 percent YoY, said Paytm, which saw a stellar growth in each of the lending products—Paytm Postpaid (Buy-Now-Pay-Later), personal loans and merchant loans.
Marksans Pharma | CMP: Rs 63.95 | The scrip added over 3 percent after the firm received the final approval from the US Food & Drugs Administration for its Abbreviated New Drug Application (ANDA) for over the counter Cetirizine Hydrochloride Tablets 5 mg and 10mg. The product will be marketed under store brand labels and is comparable to the brand Zyrtec.
JSW Steel | CMP: Rs 649.20 | The share price shed over 3 percent on January 11. The company reported a 28 percent year-on-year growth in its combined crude steel output for the quarter ended December at 5.35 million tonnes. Sequentially, the combined output rose six percent, the company said in a press release. On a standalone basis, the company recorded production of 4.41 million tonnes, registering a sequential and year-on-year growth of eight percent each.
Aurobindo Pharma | CMP: Rs 720 | The stock ended lower by over 2 percent on January 11. The company announced that its subsidiary CuraTeQ Biologics Pvt Ltd has expanded the scope of its marketing and distribution agreement with Orion Corporation (Orion) to commercialise its biosimilars pipeline to include the Baltic states in Europe.
L&T Infotech | CMP: Rs 7,172 | The share price ended in the green on January 11. The company has partnered with Securonix, a leader in next-gen Security Information and Event Management (SIEM) company, and Snowflake, a leader in secure cloud workload to strengthen its cybersecurity offerings. The partnership will power LTI’s Active eXtended Detection & Response platform (Active XDR) for early detection of internal and external threats, contextualising and combating threats with advanced intelligence-led hunting operations, and automating incident response time.
Mindspace Business Parks REIT | CMP: Rs 329.80 | The stock ended in the green after Platinum Illumination A 2018 Trust bought 5,43,75,000 units in the REIT at Rs 320 per unit, however, BREP Asia SG Pearl Holding NQ Pte Ltd sold 5,42,91,425 units at Rs 320 per unit on the BSE, the bulk deals data showed.
Unichem Laboratories | CMP: Rs 279.65 | The share added 2 percent after Porinju Veliyath-owned Equity Intelligence India Pvt Ltd acquired 54,850 shares in the company via open market transactions, increasing shareholding to 5.01 percent from 4.93 percent.
Indo Count Industries | CMP: Rs 271.60 | The scrip was up over 3 percent after ICRA upgraded credit rating for the company’s long-term bank facilities and reaffirmed credit rating for the short-term bank facilities.
Gravita India | CMP: Rs 318.90 | The stock slipped over 2 percent after the firm approved raising funds worth Rs 300 crore through issuance of equity shares or any other equity-linked securities, by way of one or more of the permissible modes including but not limited to preferential issue, private placement & QIP. The board on January 10 also approved increasing the authorised share capital of the company to Rs 17 crore divided into 8,50,00,000 equity shares of Rs 2 each from Rs 15 crore divided into 7,50,00,000 equity shares of Rs 2 each.
Sandip Das
