Benchmark indices ended on a flat note in a volatile session on June 28. At close, the Sensex was up 16.17 points or 0.03 percent at 53,177.45, and the Nifty was up 18.20 points or 0.11 percent at 15,850.20. About 1737 shares advanced, 1460 shares declined, and 139 shares were unchanged.
Mahindra & Mahindra | CMP: Rs 1,110.50 | The stock price gained over 2 percent after the company launched new SUV Scorpio-N in domestic and international markets. For now, M&M has only announced prices for manual transmission variants starting at Rs 11.99 lakh and going up to Rs 19.49 lakh. Pricing for the automatic variants as well as the four-wheel-drive variants will be announced on July 21, as per release. Nomura has maintained a buy rating on the stock with a target of Rs 1,308.
Tata Motors | CMP: Rs 417.70 | The stock ended in the green on June 28 after the auto major decided to increase prices of commercial vehicles from July 1 by 1.5-2.5 percent.
Campus Activewear | CMP: Rs 335.10 | The stock ended in the green after foreign brokerage house CLSA India initiated coverage on the stock with a “buy” rating and a price target of Rs 370, implying an upside of 12 percent from the current level.
Indiabulls Real Estate | CMP: Rs 65.35 | The share price ended in the red on June 28 after The National Anti-profiteering Authority (NAA) has found Indiabulls Real Estate guilty of not passing on over Rs 6.46 crore input tax credit benefits to homebuyers by commensurate reduction in prices post rollout of GST. Based on a case filed by a homebuyer that Indiabulls Real Estate has not passed on ITC benefits in project Sierra-Vizag, situated in Visakhapatnam, the Directorate General of Anti Profiteering (DGAP) investigated the case and found the builder guilty of profiteering.
Sterling Tools | CMP: Rs 271.10 | The scrip ended in the red, down 5 percent despite its subsidiary Sterling Gtake E-mobility (SGEM) foraying into E-LCV segment.
Brigade Enterprises | CMP: Rs 445.50 | The scrip ended in the green on June 28. The company has signed a Joint Development Agreement to develop around 2.1 million sguare feet in Chennai. The land, located at Perumbakkam, just off OMR Sholinganallur junction, is spread over 15 acres and will be developed as a large residential township.
JSW Steel | CMP: Rs 579.90 | The share ended in the green on June 28. Moody’s Investors Service said it has upgraded the JSW Steel Ltd’s Corporate Family Rating (CFR) to Ba1 from Ba2. It has changed the ratings outlook on JSW Steel Ltd to ‘stable’ from ‘positive’.
Dhani Services | CMP: Rs 32.55 | The scrip jumped 5 percent on June 28. Societe Generale sold 46,87,351 equity shares in the company through open market transactions. These shares were sold at an average price of Rs 29.55 per share.
GMR Infrastructure | CMP: Rs 35 | The share ended in the green on June 28. Delhi International Airport (DIAL), a subsidiary of GMR Airports and a step-down subsidiary of GMR Infrastructure, completed the issuance of five-year non-convertible debentures (NCDs) amounting Rs 1,000 crore that were listed on the BSE on June 23. The NCDs have been priced at an interest rate of 9.52 percent per annum payable monthly for an initial period of 36 months and thereafter at 9.98 percent payable monthly. The proceeds from the notes will be utilised to partly finance the Phase 3A expansion programme.
