Buying was seen in the auto, bank, metal, pharma, oil & gas and realty names. However, Information Technology stocks remained under pressure. BSE midcap and smallcap indices added 0.5-1 percent.
Benchmark indices ended higher on August 23 amid high volatility. At close, the Sensex was up 257.43 points or 0.44 percent at 59031.30, and the Nifty was up 86.80 points or 0.50% at 17577.50.
Godrej Agrovet | CMP: Rs 522 | The stock added over a percent on August 23. The agribusiness company has signed a memorandum of understanding (MoU) with Assam, Manipur and Tripura governments for the development and promotion of oil palm cultivation, reported The Hindu BusinessLine. Godrej Agrovet would be allotted land across the three states for the promotion and development of sustainable palm oil plantations in the region under the National Mission on Edible Oils-Oil Palm (NMEO-OP) scheme, the report said.
Sterling and Wilson Renewable Energy | CMP: Rs 293 | The share price jumped over 4 percent after the company said it bagged a big order from National Thermal Power Company (NTPC). “We are pleased to inform that the company has emerged as the L-1 bidder for the BOS package comprising four blocks of the proposed solar photovoltaic (PV) plant of NTPC Renewable Energy Limited,” the company said in a regulatory filing on August 22.
Maharashtra Seamless | CMP: Rs 807.90 | The scrip ended in the green on August 23. The Company has received an order with basic value of Rs 197 crore for casing pipes from ONGC Ltd. ONGC Ltd. will utilise these pipes for its oil and gas exploration activities in Rajasthan, Gujarat, Andhra Pradesh, Assam and Tripura. As India is ramping up its exploration and production activities in oil and gas sector, the Company expects sustainable improvement in domestic demand for its products, it said in an exchange filing.
Procter and Gamble | CMP: Rs 14,443 | The stock ended in the red after the firm’s Q4 net profit went down 13.1 percent at Rs 42.5 crore against Rs 49 crore (YoY). Revenue slipped 1.3 percent at Rs 776.4 crore against Rs 786.6 crore (YoY) while EBITDA was down 10.4 percent at Rs 67.1 crore against Rs 74.9 crore (YoY).
Ruchira Papers | CMP: Rs 121.40 | The stock price jumped over 6 percent after the firm said that a meeting of board of directors is scheduled to be held on August 30, 2022 to consider a proposal of issue of bonus shares to the equity shareholders of the company.
RBL Bank | CMP: Rs 104.10 | The share rose 6 percent on August 23. The board of directors of RBL Bank has approved issue of debt securities on private placement basis, upto an amount of Rs 3,000 crore. This is subject to the approval of the members of the bank at the ensuing Annual general meeting.
TVS Electronics | CMP: Rs 273.40 | The scrip gained 8 percent on August 23. TVS Electronics executed business transfer agreement with GTID Solutions Development Private Limited for acquiring their business and intellectual property rights. With this agreement, TVS enters into mobile POS software solutions and authentication solutions space, offering hardware along with required applications, digital payment solutions, cloud computing software solutions etc. to segments like retail, banks and government. The cost of acquisition is Rs 2.25 crore, the company said in an exchange filing.
IIFL Finance | CMP: Rs 338.85 | The stock added over 3 percent on August 23. The board of directors of IIFL Finance’s subsidiary IIFL Home Finance approved the allotment of its 53,76,457 equity shares to a subsidiary of Abu Dhabi Investment Authority. After the said transaction, the investor will hold 20% shareholding in IIFL Home Finance. The company received Rs 2,200 crore from investor against the said transaction.
Devyani International | CMP: Rs 186.30 | The scrip fell over 5 percent on August 23 after it saw a huge block deal change hands, Bloomberg reported. However, the details of the buyers and sellers of the deal were not known. Around 26.4 million shares or 2.33 percent stake of the company changed hands, according to a Bloomberg report. Earlier, CNBC TV18 reported Dunearn Investments (Mauritius) Pte Ltd is likely to sell nearly 3 percent stake at Rs 182-196.25 per share. The base offer was expected at 2.6 crore shares (2.19 percent equity) with an upsize option of 87.76 lakh shares ( 0.73 percent equity). The total deal size is expected at $ 80-86 million.
Lemon Tree Hotels | CMP: Rs 68.80 | The share ended in the green on August 23. The company has signed a licence agreement for a 65-room hotel at Hubli, Karnataka, under its brand ‘Lemon Tree Hotel’. The hotel is expected to be operational by May, 2023. Its hotel management subsidiary Carnation Hotels will be operating this hotel.
Sandip Das
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