The equity benchmarks ended lower for the second consecutive session on August 22 amid selling across sectors. At close, the Sensex was down 872.28 points, or 1.46%, at 58,773.87, and the Nifty was down 267.80 points, or 1.51%, at 17,490.70.
Gillette India | CMP: Rs 5,482 | The stock was up 3 percent after the company reported Q1FY23 net profit of Rs 67.6 crore against Rs 27.5 crore. Revenue was up 26.8% at Rs 553 crore from Rs 436 crore, YoY. Earnings before interest, tax, depreciation and amortization (EBITDA) were at Rs 111.7 crore, up from Rs 52.3 crore in the year-ago quarter. The margin was at 20.2% against 12%,YoY.
Dredging Corporation | CMP: Rs 277.30 | The share ended in the red in a weak market on August 22. Visakhapatnam Port Authority (VPA) awarded the annual maintenance dredging contract to Dredging Corporation of India Limited. It includes dredging at New Sand Trap (NST), its approaches and other areas of VPA and to pump the dredged material to the shore for beach nourishment for three years—2022-23, 2023-24 and 2024-25. The project cost is estimated at about Rs 57 crore for three years.
Repco Home Finance | CMP: Rs 263.25 | The scrip gained over 6 percent after UK-based asset management firm Omnis Portfolio Investments Icvc’s Omnis Global Emerging Markets Equity Opportunities Fund bought 4,76,998 equity shares at an average price of Rs 232.4 a share.
One 97 Communications (Paytm) | CMP: Rs 776 | The scrip ended in the green after the company’s shareholders reappointed Shekhar Sharma as the managing director (MD) and chief executive officer (CEO). The resolution to reappoint Sharma as Paytm’s CEO and MD was backed by 99.67 percent of the shareholders who voted at the company’s annual general meeting, One 97 Communications Ltd, the fintech’s parent firm, said on August 21.
Greenlam Industries | CMP: Rs 366.50 | The stock jumped over 3 percent after the firm’s Gujarat plant started commercial production from August 20, increasing the total installed capacity to 19.02 million laminate sheets per annum, the company said in its exchange filing.
Zomato | CMP: Rs 62.45 | The stock ended in the green on August 22 even after Nomura Financial Advisory and Securities (India) Limited initiated coverage on Zomato with a “reduce” rating. Its target price of Rs 50 is almost 19 percent lower than the prevailing price, with the brokerage saying that a double-digit contribution margin in food delivery was a tough task.
Gensol Engineering | CMP: Rs 1,404.10 | The share price hit a 5 percent upper circuit on August 22 after the company diluted 10 percent stake to raise Rs 140 crore for its EV manufacturing project.
Aurionpro | CMP: Rs 330 | The stock added 2 percent on August 22. The firm announced an order win from one of the largest public sector banks in India. The order is for providing 24×7 support monitoring services for the Murex Treasury Platform at the bank.
Central Bank of India | CMP: Rs 18.25 | The stock price ended in the green on August 22 after reports said that the bank, the only public sector lender under the RBI’s prompt corrective action (PCA) framework, may see an exit from restrictions soon following an improvement in its financial health. The bank has already made a representation to the Reserve Bank of India based on the improvement in financial parameters on a sustained basis for the past five quarters, sources said.
Shilpa Medicare | CMP: Rs 390 | The scrip ended in the green after subsidiary Shilpa Biologicals (SBPL) successfully completed phase 3 of human clinical studies of its first biosimilar, the 100mg/ml high concentration Adalimumab biosimilar. The company has submitted the dossier to the CDSCO for review and grant of marketing or manufacturing licence, a first in India. The drug is expected to cater to several diseases including rheumatoid arthritis, plaque psoriasis, and ulcerative colitis.
