Benchmark indices ended lower for the fourth consecutive session on February 21 amid volatility on the back of the Ukraine crisis. At close, the Sensex was down 149.38 points or 0.26 percent at 57,683.59, and the Nifty was down 69.60 points or 0.40 percent at 17,206.70.
Butterfly Gandhimati Appliances | CMP: Rs 1,384 | The share jumped over 7 percent after Moneycontrol reported that Crompton Greaves Consumer Electricals is likely to take a controlling stake in the company. Crompton Greaves Consumer is looking to buy more than 50 percent stake in the consumer appliance company for Rs 1,450 crore, which is likely to trigger an open offer to public shareholders, the report said.
Dhani Services | CMP: Rs 103.40 | The stock crashed 20 percent on February 21. According to Moneycontrol news, over the last few days, some users of the Dhani Loans and Services app started complaining about unknown parties misusing their PAN card details to seek loans on the platform. Alleging that their PAN card details were used by unknown people to avail loans via Dhani, some have complained that they are facing show-cause notices by collection agents for loans they never took.
Tata Consultancy Services | CMP: Rs 3,719.35 | The scrip shed 2 percent ahead of its ex-date for its share buyback tomorrow. The firm has set a record date of February 23 for share buyback. On January 12, TCS approved a buyback of up to 40 million shares at Rs 4,500 a share for an aggregate amount of up to Rs 18,000 crore.
Ambuja Cements | CMP: Rs 339.20 | The stock managed to close in the green after slipping in the early hours on February 21. Ambuja Cements reported a decline of 55.48 percent in its consolidated net profit to Rs 430.97 crore for the quarter ended December. The company, which follows the January-December financial year, had clocked a net profit of Rs 968.24 crore a year ago, it said in a BSE filing. Citi has downgraded the stock to ‘neutral’ and cut the target price to Rs 365 from Rs 435.
Interglobe Aviation | CMP: Rs 2,079 | The share price ended in the green on February 21 after co-founder and non-executive non-independent director Rakesh Gangwal tendered his resignation from the board on Friday with immediate effect. In a letter to the board, Gangwal said that his “intention is to gradually reduce stake in InterGlobe over the next five-plus years”.
