Benchmark indices ended the session on June 2 on a positive note with Sensex gaining 436.94 points or 0.79% at 55,818.11, and the Nifty adding 105.20 points or 0.64% at 16,628.
Delhivery | CMP: Rs 567.40 | The scrip jumped 6 percent after Credit Suisse initiated coverage on the stock with an outperform rating and target at Rs 675 per share based on favourable industry structure, diversified growth. It sees 29%+ revenue CAGR over FY22-25.
Lemon Tree Hotels | CMP: Rs 70.55 | The stock spiked 7 percent on June 2. CLSA has a buy rating on the stock and has raised the target to Rs 80 per share. “FY23 guidance of 100% growth in revenue and EBITDA margin of 50% given that recovery in corporate demand is the key,” it added.
BPCL | CMP: Rs 329.60 | The stock price ended in the green on June 2 as the global ratings agency Moody’s has changed the outlook on its rating from Baa3 (negative) to Baa3 (stable) in respect of issuer and senior unsecured debts foreign currency.
Gufic Biosciences | CMP: Rs 223.55 | The scrip ended in the red on June 2. Promoter Jayesh P Choksi intends to sell 4.68 lakh shares of his holding (representing 0.48 percent of paid-up equity) between June 2 and July 31 this year, to meet minimum public shareholding norms. Currently, the promoter holding is 75.48 percent of the total shareholding, which is more than the prescribed limit of 75 percent.
Butterfly Gandhimathi | CMP: Rs 1,187 | The stock tumbled over 16 percent on June 2 despite CRISIL upgrading its long-term rating on the company to ‘AA’ from ‘A-‘, and short-term rating to ‘A1+’ from ‘A2+’.
Mold-Tek Packaging | CMP: Rs 735 | The share price ended in the red on June 2. Ashish R Kacholia & PAC (Himalaya Finance and Investment Company) sold a 2.25 percent equity stake in the company via open market transactions on May 31. With this, their shareholding in the firm stands reduced to 4.55 percent, down from 6.8 percent earlier.
Vedanta | CMP: Rs 321.45 | The scrip added over a percent on June 2. Billionaire Anil Agarwal-owned company informed exchanges that the board meeting is scheduled to be held on June 4 with respect to its proposed fundraising of Rs 4,100 crore in one or more tranches via non-convertible debentures.
Oil & gas stocks end higher: Oil & gas stocks ended higher on June 2. Oil Minister Hardeep Singh Puri said that talks of a windfall tax on oil companies are speculative. It will consider if PSUs plan any asset buy in Russia, the minister said. Reliance Industries added over 3 percent while ONGC, HPCL, and BPCL gained over a percent each.
Greaves Cotton | CMP: Rs 163.50 | The stock ended in the green after Saudi Arabia-based family-owned, diversified global investor and operator Abdul Latif Jameel committed to investing up to $ 220-million (Rs 1,700-crore) in Greaves Cotton’s e-mobility arm — Greaves Electric Mobility. As part of the deal, Jameel will initially pump in $ 150-million (Rs 1,160 crores] for a 35.8 percent stake in the company, making it the second-largest shareholder in the firm, a statement said.
Varun Beverages | CMP: Rs 1,138 | The share price rose over 2 percent on June 2. The stock is in focus as the scrip will turn ex-bonus next week.