More than 100 stocks, including Siemens, Adani Power, TVS Motor Company, ICICI Bank, Indian Hotels and CG Power and Industrial Solutions, touched their 52-week highs on the BSE
The benchmark indices ended higher for the seventh day in a row on August 17, their longest winning streak since October fuelled by gains in PSU bank, power and information technology stocks. At close, the Sensex was up 417.92 points, or 0.70%, at 60,260.13 and the Nifty was up 119 points, or 0.67%, at 17,944.30.
Bharti Airtel | CMP: Rs 723.60 | The stock added over 2 percent on August 17. The telecom company has paid Rs 8312.4 crore to the Department of Telecom towards the spectrum acquired in the recently concluded 5G auctions. Airtel has paid four years of spectrum dues upfront. The company believes that this upfront payment coupled with the moratorium on spectrum dues and AGR-related payments for four years will free up future cash flows and allow Airtel to dedicate resources toward the rollout of 5G services.
Techno Electric | CMP: Rs 296.95 | The share price jumped 6 percent after the firm secured orders worth Rs 1,455 crore from the Rajasthan government. It got a Rs 666-crore order from Rajasthan Rajya Vidyut Utpadan Nigam LTD–Kota and a Rs 789-crore order from Rajasthan Rajya Vidyut Utpadan Nigam LTD–Jhalawar.
Bharat Gears | CMP: Rs 176.50 | The scrip surged over 17 percent on August 17. A meeting of the finance committee of the board of directors of Bharat Gears is scheduled for August 19 to consider the issue of bonus shares to the members of the company by way of capitalisation of reserves.
Singer India | CMP: Rs 79 | The stock price rose over 14 percent after Rakesh Jhunjhunwala’s investment firm Rare Enterprises bought 4.25 million shares at an average price of Rs 53.50 a share in a block deal. Other investors such as Seven Hills Capital, Insurexcellence Advisors Pvt Ltd, TIA Advisors LLP, Veena Kumari Tandon, Gauri Tandon, Illingworth Advisors LLP, Pivotal Business Managers LLP also bought shares in the firm, BSE block deal data shows.
RateGain Travel Technologies | CMP: Rs 309.70 | The share was up over 8 percent on August 17. The company announced that Air India has selected RateGain’s-AirGain product to dynamically adjust prices with real-time, accurate, and high-quality airfare data to compete globally with leading airlines.
Bajaj Hindusthan Sugar | CMP: Rs 8.95 | The stock price declined over 11 percent after State Bank of India filed an insolvency petition in the National Company Law Tribunal (NCLT) against Bajaj Hindusthan Sugar, the company said in an exchange filing on August 16. As per media reports, Bajaj Hindusthan Sugar owes nearly Rs 4,800 crore to banks like SBI, Punjab National Bank, Indian Bank and Central Bank of India.
Hindustan Zinc | CMP: Rs 285.80 | The scrip shed over 2 percent on August 17. A PTI report said ICICI Securities, Axis Capital and Citigroup Global Markets are among the five investment bankers selected to manage the sale of the government’s 29.53 percent residual stake in the company. The Department of Investment and Public Asset Management (DIPAM) had in early July invited bids from merchant bankers for managing Hindustan Zinc Ltd (HZL) residual stake and set July 28 as the deadline for putting bids.
Max Healthcare | CMP: Rs 387.05 | The share shed over 2 percent on August 17. GIC of Singapore and financial services firm Capital Group picked up a 26.8 percent stake in hospital chain Max Healthcare Institute as American private equity giant KKR exited the company by selling its entire stake on August 16. With this, the promoters will now own 24 percent in the company.
NTPC | CMP: Rs 161.40 | The stock price ended in the green on August 17. The state-owned power firm floated a tender to raise Rs 5,000 crore term loan from financial institutions. As per the document, the bids can be submitted till 11 am on August 31. The minimum amount of loan offered by banks or FIs should be Rs 500 crore or in multiples of Rs 500 crore. The proceeds of the loan will be used for capital expenditure, refinancing of the loan and other corporate purposes.
SBI Cards and Payment Services | CMP: Rs 998 | The scrip gained over 3 percent on August 17. The stock was in focus after Informist reported that the Reserve Bank of India is against unregulated firms issuing credit cards. The company can offer credit cards after getting an RBI licence, the report said.
Sandip Das
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