Among sectors, except oil & gas all other indices ended lower with IT, power, realty and FMCG indices down 2% each.
In the highly volatile session on April 19, the benchmark indices ended lower with Nifty finishing below 17,000 mark. At close, the Sensex was down 703.59 points or 1.23% at 56,463.15, and the Nifty was down 215.00 points or 1.25% at 16,958.70.
Coal India | CMP: Rs 195.60 | The stock price jumped over 3 percent on April 19. Amid the spiralling power generation, Coal India Limited raised its supplies to thermal power stations by 14.2% during the first half of April’22 compared to same period last April, company said in its release. CIL’s supplies have hit 1.64 million tonnes (MTs) per day during this period against 1.43 MTs of similar period April’21, it added.
Mindtree | CMP: Rs 3,604 | The share price tumbled 9 percent on April 19. Mindtree on April 18 reported a consolidated net profit of Rs 473.1 crore for the quarter ended March, an on-year growth of 49 percent. On a sequential basis, the growth is eight percent. The Larsen & Toubro group company had reported a consolidated profit after tax (PAT) of Rs 317.3 crore during the corresponding period a year ago. Its PAT during the December quarter stood at Rs 437.5 crore. Morgan Stanley has kept an equal-weight rating and cut the target price from Rs 5,100 to 4,450 per share.
INEOS Styrolution | CMP: Rs 859.75 | The stock crashed 20 percent after promoter INEOS Styrolution APAC Pte Ltd proposed to sell a 14.4% stake through an offer for sale (OFS). It has also kept an option open to additionally sell a 9.6% stake through OFS. The OFS will open on April 19 and 20, the company told the exchanges.
AU Small Finance Bank | CMP: Rs 1,406 | The share added 2% on April 19. A two-day meeting of the board of directors of AU Small Finance Bank will be held on April 25 and 26 in Jaipur where a final call on the issue will be taken, the company said in its release. The board will also consider the audited financial results of the bank for the quarter and financial year ended on March 31, 2022. The proposal for issuance of bonus shares, subject to requisite approvals, will be on the agenda with recommendations for dividend on equity shares for the financial year ended March 2022.
TVS Motor | CMP: Rs 634.05 | The scrip was down over 3% after Jwalamukhi Investment Holdings sold 32,62,840 equity shares in the company via open market transactions. These shares were sold at an average price of Rs 650 per share on the NSE.
BEML | CMP: Rs 1,810 | The share price shed almost 4% on April 19. BEML has signed contract with Coal India Limited (CIL) on April 18, 2022 for supply of 1 number 20 CuM Rope Shovel valuing Rs 118 crore. This being indigenously developed for the first time under Atmanirbhar Bharat by BEML, the company said in an exchange filing.
Vascon Engineers | CMP: Rs 26.75 | The stock ended in the green after surging over 5 percent on April 19 after the firm received work order for Civil Works for Project “Elpro International School” at Hinjewadi, Pune amounting to Rs 38.01 crore plus applicable taxes from International School, Chinchwad.
Max Ventures | CMP: Rs 115.10 | The scrip fell over 4% after Board of Directors of the company, in its meeting held on April 18, approved the Composite Scheme of Amalgamation and Arrangement amongst Max Ventures and Industries Limited and Max Estates Limited and their respective shareholders and creditor.
Adani Power | CMP: Rs 232.50 | The share ended in the red on April 19. In the contempt case concerning the compensatory tariff between Adani Power and three Rajasthan distribution companies (discoms), the Supreme Court (SC) was informed today on April 19 that over Rs 5,995 crore has been paid out thus far to Adani in the dispute. The payout comes shortly after the SC directed the discoms to make payment towards compensatory tariff in line with the judgment of the court passed in 2020.
Kolte-Patil Developers | CMP: Rs 286 | The share price ended in the green on April 19. Kolte-Patil Developers achieved sales value of Rs 1,739 crore in FY22, up 45 percent YoY, which is by far the highest ever recorded by the company. Sales Volumes of 2.71 million sq. ft. in FY22 saw significant uptick compared to FY21 (2.08 million sq. ft.) and FY20 (2.51 million sq. ft.)
Sandip Das
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