Benchmark indices ended higher for the second consecutive session on June 21 with Nifty finishing above 15,600. At close, the Sensex was up 934.23 points or 1.81% at 52,532.07, and the Nifty was up 288.60 points or 1.88% at 15,638.80. About 2428 shares have advanced, 819 shares declined, and 125 shares are unchanged.
BHEL | CMP: Rs 44.85 | The share price jumped over 6 percent after GE Steam Power signed deal worth $ 165 million for nuclear turbines with the company, Bloomberg reported.
Hindustan Petroleum Corporation | CMP: Rs 219.40 | The scrip was up over 4 percent on June 21. HPCL issued Unsecured, Redeemable, Non-Convertible, Non-Cumulative, Taxable Debentures of Rs 10,00,000 each aggregating to Rs 1,500 crore on private placement basis on June 20, 2022 for funding of refinancing of existing borrowings and/or funding of capital expenditure of the Issuer, including recoupment of expenditure already incurred and/or for any other purpose in the ordinary course of business of the Issuer.
Hindustan Aeronautics | CMP: Rs 1,805 | The stock gained over 4 percent on June 21. A meeting of the board of directors of Hindustan Aeronautics will be held on June 28, 2022, to consider, the recommendation of final dividend for the financial year 2021-22, the company said in an exchange filing.
Suven Life Sciences | CMP: Rs 76.20 | The share price hit 20 percent upper circuit on June 21. A meeting of the board of directors of Suven Life Sciences is scheduled to be held on June 24, 2022 to consider matters related to raising of funds through issue of equity shares of the company on rights basis to the existing equity shareholders of the company, company said in its release.
KEC International | CMP: Rs 373 | The scrip added over 2 percent after the company secured new orders of Rs 1,092 crore across its various businesses.
Gland Pharma | CMP: Rs 2,660 | The share price was up over 3 percent after brokerage firm CLSA India initiated a coverage on the stock with a ‘buy’ rating on expectation that the company will benefit from increasing shift of research and development outsourcing by western drug giants out of China. “Western firms seeking to diversify their supply chains creates an enriching environment, and Indian firms have an advantage in their access to a large and low-cost science-literate workforce,” CLSA India said in a note.
Bharat Forge | CMP: Rs 647 | The stock rose over 3 percent on June 21. The company has decided to consolidate its electric vehicle business initiatives under Kalyani Powertrain Ltd (KPL), a wholly-owned subsidiary, for a better strategic alignment. Accordingly, its investment committee – strategic business has approved the transfer of the company’s stake in Refu Drive GmbH, a joint venture, to KPL subject to receipt of necessary approval from regulatory authorities.
Biocon | CMP: Rs 325.60 | The scrip added 3 percent on June 21. The stock was in focus after CBI arrested Joint Drugs Controller S Eswara Reddy for allegedly receiving a Rs 4 lakh bribe to waive Phase-3 clinical trial of insulin aspart injection, according to a PTI report. However, Biocon has denied the allegations.
HUDCO | CMP: Rs 33.10 | The stock price added over 2 percent after Fitch Ratings has affirmed the ratings of Housing and Urban Development Corporation (HUDCO) at ‘BBB-‘ level, i.e. at the sovereign level. At the same time, the rating agency has revised the outlook of HUDCO to ‘Stable’ from ‘Negative’. The rating action follows the change in outlook of Government of India rating to ‘Stable’ from Negative’ on June 10, 2022.
Savita Oil Technologies | CMP: Rs 1,093.10 | The stock rose over 8 percent after the board of directors of Savita Oil Technologies at its meeting held today has approved the sub-division of one equity share of face value of Rs 10 each into five equity shares of face value of Rs 2 each.
