Hindalco Industries, Reliance Industries, ONGC, TCS and SBI Life Insurance were among the top losers on the Nifty, while gainers were Tata Consumer Products, Bajaj Finserv, Asian Paints, Eicher Motors and Hero MotoCorp. Barring realty, capital goods, PSU bank and auto, all other sectoral indices ended lower. BSE midcap and smallcap indices rose 0.5% each.
Indian benchmark indices ended lower on September 1 with the Nifty settling below the 17,600 level, owing to selling in IT, metal, power and oil & gas stocks. The Sensex was down 770.48 points or 1.29% at 58,766.59, while the Nifty shed 216.50 points or 1.22% to 17,542.80.
Eicher Motors | CMP: Rs 3,410.65 | The share price rose 1.5 percent on September 1 after the company’s total sales jumped 53 percent to 70,112 units in August 2022 against 45,860 units in August 2021. Its International Business saw a growth of 6 percent at 7,220 units against 6,790 units.
TVS Motor Company | CMP: Rs 1,015.55 | The share price rose 3 percent and touched a 52-week high of Rs 1,028.75 as the company registered a growth of 15% in August 2022 with sales of 3,33,787 units as against 2,90,694 units in August 2021. Its two-wheelers segment registered a growth of 15% in August 2022 with sales increasing from 2,74,313 units in August 2021 to 3,15,539 units in August 2022. Its motorcycle segment registered a growth of 17% with sales increasing from 1,33,789 units in August 2021 to 1,57,118 units in August 2022 and the scooter segment registered a growth of 40% with sales increasing from 87,059 units in August 2021 to 1,21,866 units in August 2022.
Alembic Pharmaceuticals | CMP: Rs 641.65 | The share price touched a 52-week low of Rs 641.65 (down 1 percent) after the United States Food and Drug Administration (USFDA) issued a Form 483 with 2 observations. The authority has conducted an inspection at the company’s Injectable Facility (F-3) located at Karkhadi from August 18 2022 to August 30, 2022. Also, NCLT has sanctioned the Scheme of Arrangement in the nature of amalgamation between Aleor Dermaceuticals and Alembic Pharmaceuticals and their respective shareholders. The Scheme will become effective upon the filing of the said Order with the Registrar of Companies, Gujarat.
NCC | CMP: Rs 72.10 | The scrip gained 3 percent after the company received one new order for Rs 292 crore (exclusive of GST) in the month of August 2022. This pertains to Water & Environment Division and is received from State Government agencies and does not include any internal order.
Coal India | CMP: Rs 230.15 | The company’s share price declined 2 percent after hitting a 52-week high of Rs 236.75 during the day on September 1 as its August month production was up 8.5% at 46.2 mt versus 42.6 mt and August Offtake was up 5.1% at 51.1 mt versus 48.6 mt, YoY.
Compucom Software | CMP: Rs 25.60 | The share price surged 10 percent on September 1 after the company said it has been awarded a work order by the Rajasthan Council for School Education (A Govt. of Rajasthan Undertaking) for Supply and Installation of Computer Systems, Printer, UPS and Networking, Electrification and IT based Education etc. in 398 Governments Schools for ICT Computer Labs with 5 years on-site comprehensive warranty under ICT Schools scheme worth Rs 58 crore (approximately).
Ashok Leyland | CMP: Rs 162.80 | The share price jumped over 5 percent on September 1 after the company bagged orders from major fleets for 1,400 school buses in the UAE. The total fleet deals worth AED 276 million ($ 75.15 million) for the GCC-made buses have been bagged by Chennai-based Ashok Leyland’s UAE distribution partners, Swaidan Trading – Al Naboodah Group. On the other hand, the company’s total sales for the month of August 2022 rose 51% to 14,121 units against 9,360 units in August 2021.
SpiceJet | CMP: Rs 44.95 | The share price slipped 3 percent as the airline reported a net loss of Rs 458 crore and Rs 789 crore, for the quarter ending March and quarter ending June, respectively. The total revenue from operations for the Jan-Mar quarter came in at Rs 1,865 crore, slightly lower than Rs 1,877 crore reported in the year-ago quarter. The company had delayed announcing the results of its fourth quarter in 2021-22 due to a ransomware attack.
Trigyn Technologies | CMP: Rs 106.10 | The share price added nearly 5 percent as the company’s wholly-owned subsidiary Trigyn Technologies, Inc., has been awarded a contract by the State of Vermont, Agency of Digital Services, with a Maximum Value of 5 million dollars, to provide IT Project Managers, Business Analysts, and other IT Professional Staff to support the implementation of Vermont’s Medicaid Enterprise Systems (MES). This includes support of Medicaid Enterprise Systems Component Projects, including Vermont Health Connect (VHC), Health Information Exchange (HIE/HIT), Integrated Eligibility (IE) and Medicaid Management Information System (MMIS).
Biocon | CMP: Rs 301.65 | The share price fell 2.5 percent and touched a 52-week low of Rs 298.50 after the US Food and Drug Administration (USFDA) issued Form 483s with 11 observations each for the two sites in Bengaluru and 6 observations for the Malaysia site. The USFDA conducted three on-site inspections of Biocon Biologics’ seven manufacturing facilities spanning two sites in Bengaluru, India and one in Johor, Malaysia. These inspections started with the Bengaluru site on August 11, 2022, and concluded with the Malaysia site on August 30, 2022.
Rakesh Patil
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