All the sectoral indices ended in the red with the bank, capital goods, auto, metal, IT, realty, PSU Bank, and oil & gas indices falling 2-4 percent each.
Benchmark indices ended in the red with the Nifty below 15,800 on the back of weak global markets. At Close, the Sensex was down 1,456.74 points or 2.68% at 52,846.70, and the Nifty was down 427.40 points or 2.64% at 15,774.40. About 650 shares advanced, 2,759 declined, while 117 scrips remained unchanged.
RBL Bank: CMP: Rs 87.60 | The share price crashed over 22 percent after brokerage firm CLSA India said the new CEO appointment raises several questions about RBL Bank. It has downgraded the stock to outperform from buy with a target price of Rs 130 per share. The stock is cheap, however, it lacks material triggers in the near term, CLSA was quoted as saying by CNBC-TV18.
UltraTech Cement | CMP: Rs 5,348 | The scrip shed 3 percent amid weak market conditions. Fitch Ratings has revised the Outlook on India-based UltraTech Cement Limited’s (UTCL) Long-Term Foreign-Currency Issuer Default Rating (IDR) to Stable from Negative and affirmed the Foreign- and Local-Currency IDRs at ‘BBB-‘. The Outlook on the Local-Currency IDR is Stable, it said.
Ansal Housing | CMP: Rs 7.10 | The scrip was down over 7 percent after the firm received a notice from Housing Development Finance Corporation (HDFC). HDFC through its notice intimated that if dues are not cleared by the promoters (borrowers) against their personal loans, the HDFC may invoke or sell shares of Ansal Housing as held and pledged by the promoters.
Vedanta: Vedanta inaugurates its international iron ore operations through the subsidiary Western Cluster in West Africa. Billionaire Anil Agarwal-owned Vedanta’s iron & steel arm has ventured into international iron ore mining operations in Liberia, West Africa through its subsidiary Western Cluster (WCL) with the ground-breaking ceremony that was held at the Bomi iron ore mine on June 8. WCL is a wholly-owned subsidiary of Bloom Fountain (BFL) which is, in turn, a wholly-owned subsidiary of Vedanta. WCL had signed a Mineral Development Agreement with the Government of Liberia (GoL) for three iron ore mining concessions in Liberia namely Bomi, Bea, and Mano in 2011. However, the operations could not be started due to the outbreak of the Ebola epidemic.
G R Infraprojects | CMP: Rs 1,226.10 | The share fell 10 percent after Central Bureau of Investigation (CBI) conducts searches on G R Infraprojects at Shillong, Guwahati, Gurugram & Bengaluru, connected w.r.t alleged irregularities in a national highway road project in Assam. CBI arrested few NHAI officials & GR Infra Projects officials, quoting ANI, reported CNBC-TV18.
Crompton Greaves Consumer | CMP: Rs 326.90 | The stock slipped 4 percent in line with market sentiments. The company’s board approved the buyback of rated, listed commercial paper aggregating to an amount of up to Rs 600 crore and to raise long-term funds by way of issuance of secured, rated, listed, redeemable non-convertible debentures on a private placement basis up to Rs 925 crore, subject to the borrowing limits of the company as approved by the shareholders.
AU Small Finance Bank | CMP: Rs 588.35 | The scrip shed 2 percent on June 13. The board of directors of the bank has approved the allotment of 31,50,93,233 equity shares of Rs 10 each as fully paid-up Bonus Equity Shares on June 12, 2022, in the ratio of 1 (One) equity share of Rs 10 each for every 1 (One) equity shares of Rs 10 each held. June 10, 2022, has been fixed as the record date for this purpose.
LIC | CMP: Rs 669.50 | The scrip shed close to 6 percent on June 13. The stock of Life Insurance Corporation of India (LIC) hit a fresh record low after the lock-in period for anchor investors in the company’s IPO came to an end on June 13. With this fall, the stock has now slipped to the sixth position in terms of market capitalisation. At the time of listing, it was the fifth most valued firm in India with a market capitalisation of Rs 6 trillion. The stock has eroded nearly Rs 1.7 trillion of investor wealth since its listing.
Glenmark Pharma | CMP: Rs 377.50 | The scrip fell over 2 percent on reports of USFDA beginning inspection of the company’s Baddi plant. The US Food and Drug Administration (USFDA) began an inspection of Glenmark Pharma’s Baddi plant today, sources confirmed to CNBC-TV18. The USFDA issued a ‘Warning Letter’ in October 2019 to the Baddi facility.
IIFL Finance | CMP: Rs 331 | The stock price was down over 6 percent after British International Investment PLC (formerly known as CDC Group PLC) offloaded 1.6 crore equity shares in the company via open market transactions on June 10. With this, its shareholding in the company stands reduced to 3.557 percent, down from 7.772 percent earlier. However, as per bulk deals data, MAX Life Insurance Company acquired 24.6 lakh equity shares in the company and Nomura India Investment Fund Mother Fund bought 44,74,548 equity shares at an average price of Rs 325.1 per share.
Sandip Das
