Among the sectors, pharma, power, and realty were the top losers while buying was seen in financials and capital goods names. The midcap index ended flat while the smallcap index added half a percent.
Benchmark indices ended in the red for the second consecutive day as Sensex slipped 185.24 points or 0.33% at 55381.17, and the Nifty shed 61.70 points or 0.37% at 16,522.80.
Bajaj Auto | CMP: Rs 3,723 | The stock ended lower by over 3 percent after the company reported lower-than-expected sales data for May. Bajaj Auto reported total sales of 2.75 lakh units for the month which was below Nomura India Securities’ estimate of 3.12 lakh. Sales volumes in the previous month grew merely 1 percent on a year-on-year basis and were down more than 34 percent from their pre-pandemic levels in May 2019. The muted sales performance was led by a weak month for exports for the company. Two-wheeler exports slumped 15 percent on-year to 1.53 lakh units, while three-wheeler exports fell 67 percent to 10,163 on-year in May.
Delta Corp | CMP: Rs 213.45 | The stock slipped over 2 percent after ace investor Rakesh Jhunjhunwala sold 25 lakh equity shares (0.93 percent of total shareholding) in the company via open market transactions. With this, Jhunjhunwala’s shareholding stands reduced to 6.16 percent, down from 7.1 percent earlier.
Coal India | CMP: Rs 196.80 | The scrip added 2 percent on June 1. Coal India posted a strong 30 percent output growth in May 2022. The increase in volume terms was 12.6 million tonnes [MTs). The company produced 54.7 million tonnes (MTs) of coal during the month compared to 42.1 MTs in May 2021. During the first two months of FY22, Coal India produced 24.2 MTs more coal than it did in the same period a year ago. This represents a healthy 29 percent growth, said Coal India in its BSE filing.
Mahindra & Mahindra | CMP: Rs 1,047 | The stock price ended in the green on June 1. Total auto sales came in at 53,726 units Vs 17,447 units (YoY). Domestic passenger sales were reported at 26,904 units against 8,004 units (YoY). Exports stood at 2,028 units vs 1,935 units (YoY). Total auto sales in May 2022 stood at 53,726 units vs May 2019 sales at 45,400 units.
HFCL | CMP: Rs 65.30 | The scrip jumped over 3 percent after the company bagged purchase orders from a leading telecom operator. The company, along with its material subsidiary HTL, has received purchase orders (‘PO’) of Rs 237.25 crore from one of the leading private telecom operators in the country. The company will supply optical fibre cables. The contract will be executed by October 2022.
Rail Vikas Nigam | CMP: Rs 33.30 | The scrip added 2 percent after joint venture RVNL – Bhartia received a Letter of Acceptance (LoA) from the Northeast Frontier Railway for the construction of single line BG tunnel. The total estimated cost of the project is Rs 560.26 crore.
Bharat Dynamics | CMP: Rs 811 | The scrip was up over 3 percent after the state-owned defence company has signed a contract worth Rs 2,971 crore with the Ministry of Defence for the supply of ASTRA MK-I Beyond Visual Range (BVR) air to air missile and associates equipment to Indian Air Force and Indian Navy.
Escorts | CMP: Rs 1,599 | The stock ended in the red on June 1. Total tractor sales of the company grew 31.1% at 8,421 units against 6,423 units (YoY). Domestic tractor sales rose 24.5% to 7,667 units against 6,158 units (YoY).
Natco Pharma | CMP: Rs 714 | The share price rose over 3 percent on June 1 after the firm announced the launch of the first generic version of Nexavar (Sorafenib) tablets in the US market. The product will be launched by Hyderabad-based Natco Pharma’s commercial partner, Viatris.
Va Tech Wabag | CMP: Rs 254.05 | The scrip gained over 2 percent after the company bagged an order worth Rs 149 crore from DL E&C CO in Korea.
Sandip Das
