The benchmark indices ended their four day losing streak and the positive sentiments aided the broader indices to close with gains. Barring Metals and PSU Banks, all other sectoral indices ended the day on a strong note.
Larsen and Toubro | CMP: Rs 1,595.1 | The stock gained today as the global brokerage Nomura maintained a ‘buy’ rating with a target price of Rs 1,995 per share. The brokerage expects ordering momentum to remain strong in the near term with strength coming in from the robust momentum in Government’s Capex. It also expects further revival in Capex from private sector and prospects from defence sector to increase significantly.
TRF | CMP: Rs 141.15 | The stock was stuck in its upper circuit of 5 percent as Tata Steel Limited on, June 8, 2022, acquired 16,50,00,000 (Sixteen crore Fifty lakh), 12.17 percent (effective yield) Non-cumulative, Non-convertible, Non-Participating, Redeemable Preference Shares (‘NCRPS’) of face value Rs 10/- each of TRF Limited, aggregating to Rs 165 crore (‘NCRPS-Series – 1’).
Tech Mahindra | CMP: Rs 1,138.6 | The stock gained 1.28 percent today as it intends to acquire 26 percent stake in Huoban Energy Private Limited (‘Huoban’).
Titagarh Wagons | CMP: Rs 107.3 | The stock gained 6.45 percent today as Titagarh Firema, the Italian subsidiary of Titagarh Group received assurance of support from the Italian Government.
UPL | CMP: Rs 747.3 | The stock was up 1.65 percent as it launched Flupyrimin insecticides to protect rice yields”.
BLS International Services | CMP: Rs 192.95 | The stock surged 8.92 percent as the company has acquired Mumbai headquartered, largest business correspondent in the country – Zero Mass Private (ZMPL), for Rs 120 crore. With this all cash acquisition from company internal accruals, BLS International becomes the largest business correspondent (BC) network in India. BLS International now owns 88.26 percent equity stake in ZMPL, and State Bank of India continues to hold 6.83 percent equity stake in ZMPL. ZMPL has been operating the largest BC network for State Bank of India (SBI) with around 11,500 active CSPs (around 15 percent of all the SBI BCs). The company has pan-India presence with CSPs located across all States and Union Territories of India. Apart from SBI, ZMPL has contracts with Utkal Grameen Bank and Karur Vysya Bank.
Bliss GVS Pharma | CMP: Rs 82.9 | Promoter Dr Vibha Gagan Sharma & person acting in concert (PACs) acquired 2.5 lakh equity shares in the company via open market transactions on June 6. With this, their shareholding in the company stands increased to 2.27 percent, up from 2.03 percent earlier. The stock ended higher by 2.09 percent
Hardwyn India | CMP: Rs 245.25 | The stock lost 5 percent today as the company said its board of directors on June 13 will consider the proposal of issuing bonus shares.
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