It was a mayhem in the equity markets as the BSE Sensex plunged more than 1,000 points to 54,303, and the Nifty50 fell 276 points to 16,202. The broader markets also caught in bear trap with the Nifty Midcap 100 index falling 0.83 percent and Smallcap 100 index declining 1.1 percent.
IIFL Finance | CMP: Rs 353.70 | IIFL Finance share price climbed 6 percent after the subsidiary of Abu Dhabi Investment Authority picked a 20 percent stake in the company’s home finance business. Its wholly owned subsidiary IIFL Home Finance has entered into definitive agreements for raising Rs 2,200 crore of primary capital for a 20 percent stake from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). The deal completion is subject to regulatory approvals.
HFCL | CMP: Rs 63.90 | Optical fibre cable manufacturer HFCL share price gained after receiving orders worth Rs 73.39 crore. The orders consists of Rs 51.09 crore from one of the leading private telecom operators of the country for supply of unlicensed band radio along with accessories, and Rs 22.30 crore from one of the leading EPC players of India for supply of optical fibre cables.
Oriental Aromatics | CMP: Rs 593.20 | Oriental Aromatics share price rallied nearly 13 percent after its subsidiary Oriental Aromatics & Sons received environmental clearance for its proposed greenfield project for manufacturing of speciality chemicals & chemical intermediates, at additional MIDC Mahad, Maharashtra.
Sona BLW Precision Forgings | CMP: Rs 601.55 | Sona BLW Precision Forgings stock advanced on Friday after its board has re-appointed Vivek Vikram Singh as the Managing Director and Group CEO of the company for a period of 5 years starting from July 5, 2022 to July 4, 2027.
Panacea Biotec | CMP: Rs 145.90 | Panacea Biotec share price corrected as after the end of inspection, the health regulator US Food and Drug Administration has issued ‘Form 483’ with eight observations to subsidiary’s Baddi plant. These observations are related to improvements in existing procedures and are addressable. USFDA had conducted an inspection of the company’s material wholly-owned subsidiary, Panacea Biotec Pharma at Baddi, Himachal Pradesh between May 30 and June 08 this year.
Welspun Enterprises | CMP: Rs 107.55 | Welspun Enterprises stock rallied more than 8 percent after the company has executed definitive agreements to exit its portfolio of operating road concessions (highway portfolio) to Actis Highway Infra for an aggregate enterprise value of Rs 6,000 crore. The highway portfolio comprises of 5 completed HAM assets (Welspun Delhi Meerut Expressway, Welspun Road Infra, MBL (CGRG) Road, MBL (GSY) Road, Chikhali Tarsod Highways) and one operating BOT-Toll asset (Welspun Infrafacility).
KPI Green Energy | CMP: Rs 599.65 | KPI Green Energy shares surged more than 7 percent after it has received Commissioning Certificate from Gujarat Energy Development Agency, for a capacity of 5.20 MWdc solar power project for Devika Fibers under captive power producer segment.
Transformers and Rectifiers (India) | CMP: Rs 31.60 | Transformers and Rectifiers (India) stock price gained nearly 9 percent after it received Rs 186 crore worth orders of transformers from one of the State Utility. With this order, the company’s order book as on date stands at Rs 1,482 crore.
Butterfly Gandhimathi Appliances | CMP: Rs 1,201.95 | Butterfly Gandhimathi Appliances shares gained as Crompton Greaves Consumer Electricals now holds 81 percent equity stake in the company after buying additional 26 percent stake in open offer on June 8.
Bajaj Auto | CMP: Rs 3,881 | Bajaj Auto share price closed flat despite the company said its board of directors on June 14 will consider a proposal for buyback of fully paid-up shares.