Among the sectors, the auto index shed a percent, while buying was seen in FMCG, IT and pharma names. Midcap and smallcap indices added half a percent each
The benchmark indices ended the September 7 session in the red, though they managed to narrow the losses in the afternoon trade. The Sensex ended 168.08 points, or 0.28%, down at 59,028.91 and the Nifty shed 31.20 points, or 0.18%, at 17,624.40.
Container Corporation of India | CMP: Rs 723.30 | The stock jumped 8 percent after the cabinet allowed long-term leasing of railway land for cargo activities for up to 35 years at 1.5 percent of the market value of the land.
Coal India | CMP: Rs 239 | The scrip added over 2 percent after the company recorded its highest ever coal production in the first five months of the fiscal. April 1 -September 4 production increased by 44.6 MT, crossing the previous high of 44.5 MT registered in FY16. In an exchange filing, Coal India said, “At the current pace of production, if mining areas are not excessively affected by heavy seasonal deluge in September, the company is hopeful of reaching close to the apportioned H1 target of 306 MT.”
Tata Consultancy Services | CMP: Rs 3,153 | The share ended in the green on September 7 after the firm announced that it has been selected by Nokia to reimagine the employee experience for the company’s global workforce in more than 130 countries of operation. Nokia has selected Tata Consultancy Services as its transformation enabler to reimagine its human resources processes and enable seamless personalised employee journeys, it said.
Hindustan Aeronautics | CMP: Rs 2,418 | The stock price ended in the green, hitting a 52-week high after the company said it assembled and tested gas turbines that were used in the recently commissioned aircraft carrier, IAC-1 Vikrant. “HAL is proud to be associated with India’s first indigenously designed and built aircraft carrier, IAC-1 Vikrant, which was commissioned recently as INS Vikrant by the Prime Minister at Kochi,” the company said in an exchange filing. “IAC is powered by four General Electric LM2500 gas turbines supplied by HAL.” According to the company, the turbines were assembled and tested at HAL’s dedicated facility in Bengaluru.
Cipla | CMP: Rs 1,050.15 | The share price ended in the green on September 7. The firm received approval from the US health regulator for Lenalidomide capsule, a drug used to treat various types of cancer. The company has received the final approval from the US Food and Drug Administration for the product in strengths of 5 mg, 10 mg, 15 mg and 25 mg, Cipla said in a regulatory filing.
Bharti Airtel | CMP: Rs 752 | The scrip ended in the red after it fell over 3 percent in intraday trade on September 7. Around 1.9 percent of the equity of the company changed hands in multiple block deals. The details of buyers and seller were not know. Singtel had on August 25 said it would sell a 3.3 percent stake in Airtel to Bharti Telecom for an aggregate consideration of about $ 1.6 billion.
Bajaj Auto | CMP: Rs 3,848 | The stock shed 2 percent after brokerage firm CLSA downgraded the stock to “outperform” from “buy” and cut the target price to 4,343 from Rs 4,677. According to CLSA, the company’s exports remain under pressure. “Lower export volume assumptions lead to 6-9 percent cuts in FY23-24 earnings. Post-festive season demand and rural recovery are key factors to look out for,” its analysts wrote in a note.
Paras Defence and Space Technologies | CMP: Rs 714.30 | The stock price rose over 2 percent after the company entered into an exclusive teaming agreement with ‘ELDIS Pardubice’ s.r.o., Czech Republic to provide turnkey anti-drone systems for civilian airports in India.
Salasar Techno Engineering | CMP: Rs 33.50 | The share ended in the green on September 7. The company said its fund-raising committee approved the allotment of 3 crore equity shares to QIBs at a price of Rs 27.30 per share. The company raised Rs 81.9 crore through its issue.
Zuari Industries | CMP: Rs 182.15 | The stock added almost 3 percent after the company executed a memorandum of understanding with Envien International, Malta, and Zuari Envien Bioenergy to build and operate a biofuel distillery. The company will explore the organic and inorganic business opportunities in the biofuel space in India.
Sandip Das
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