The benchmark indices ended the February 23 session in the red, with the Sensex down 68.62 points, or 0.12%, at 57,232.06 and the Nifty shedding 28.90 points, or 0.17%, at 17,063.30.
PNC Infratech | CMP: Rs 274 | The stock jumped over 11 percent on getting orders worth Rs 4,384 crore from the National Highway Authority of India. The company emerged as the lowest bidder in three new hybrid annuity modelled national highway projects. PNC has bagged two orders – Package I and Package II-for the construction of six-lane upgradable to eight-lane of Kanpur-Lucknow Expressway in Uttar Pradesh. The total order value stands at Rs 2,926 crore. These two projects are under the Bharatmala Pariyoiana.
FSN E-Commerce Ventures (Nykaa) | CMP: Rs 1,355.95 | The share added 2 percent after the company settled its litigation with L’Oreal. The company informed exchanges on February 22 that the litigation with L’Oreal SA was settled. “The certified true copy of the Delhi High Court order dated January 21, 2022, was received by the company on February 21,” it said.
Mahindra CIE Automotive | CMP: Rs 195.20 | The scrip shed over 2 percent after the company’s net profit sank 28 percent YoY to Rs 80 crore led by higher input costs in the quarter ended December. Topline grew 5.4 percent to Rs 2.064 crore, reflecting muted demand environment in the automotive industry amid semiconductor shortages that have curtailed production at original equipment manufacturers.
NCL Industries | CMP: Rs 182 | The stock price rose over 2 percent after promoter Kalidindi Ravi bought 9,000 equity shares in the company through open market transactions on February 21 to increase his stake to 5.24 percent. The acquisition comes on the back of a 27 percent decline in the stock price over the past four months.
Sigachi Industries | CMP: Rs 312 | The share price gained over 4 percent after a debt rating upgrade by CARE. The rating agency upgraded the credit rating on the company’s long-term bank facilities of Rs 13.93 crore to ‘A-‘, against ‘BBB’ earlier. The outlook has also been revised to Stable from Positive. CARE has rated ‘A-‘ and ‘A2’ as the long-term and short-term bank facilities, worth Rs 8.75 crore, against A3+ earlier.
