Indian equity benchmark ended the session on September 8 on a robust note, with the 30-pack Sensex jumping 659 points, or 1.12 percent, at 59,688.22. The broad-based Nifty added 174 points or 0.199 percent at 17,798.40.
Interglobe Aviation | CMP: Rs 1,946.90 | The stock price ended in the red after 11.2 million shares, amounting to a 2.9% stake, changed hands. The buyers and the sellers were not known but the company had said in a release earlier that Rakesh Gangwal, co-founder, and his family were looking to sell a 2.8 percent stake in the firm through a block deal.
Container Corporation of India | CMP: Rs 736.05 | The share price ended in the green on September 8. The cabinet on September 7 approved a revised long-term leasing policy for railways’ land and cut the licence fees from 6 percent to 1.5 percent. The lease period was increased from five to 35 years. Nomura upgraded the stock to “buy” and raised the target to Rs 918 a share, an upside of over 25 percent from the current market price. Jefferies, too, has a “buy” rating on Concor with the target at Rs 850 a share. It said the revised policy would help in Concor’s privatisation.
Duroply Industries | CMP: Rs 181.95 | The share price jumped over 4 percent after ace investors Porinju Veliyath & Litty Thomas picked an additional 2.12% stake or 1.58 lakh shares in the company through preferential allotment. With this, their shareholding in the company increased to 7.01%, up from 4.89%.
Capacite Infraprojects | CMP: Rs 182.45 | The stock price ended in the red after NewQuest Asia Investments II Ltd sold a 2.36% stake or 16 lakh equity shares in the company through open market transactions during the August 16-September 2 period. With this, its stake in the company has been reduced to 7.39% from 9.75%.
Schneider Electric | CMP: Rs 157.20 | The share price zoomed 10 percent, hitting a 52-week high after the company received approval from its board to enhance he production capacity of vacuum interrupters and vacuum circuit breakers by setting up a manufacturing unit in Kolkata.
Sonata Software | CMP: Rs 572 | The stock gained over 6 percent as the stock traded ex-date for bonus issue. Sonata Software fixed September 10 as the record date to ascertain the eligibility of shareholders for the issuance of bonus equity shares.
Angel One | CMP: Rs 1,598.10 | The scrip surged over 7 percent on September 8. The fintech company added 0.44 million clients to grow its client base to 11.18 million, an 81.9 percent YoY increase, in August 2022. It also recorded a 117.9 percent growth YoY in its average daily turnover to Rs 12.38 trillion. The company’s overall equity market share stands at 21.5 percent for the month and average client funding stands at Rs 13.72 billion.
Zee Entertainment | CMP: Rs 256.25 | The scrip ended in the red, shedding over a percent after The National Company Law Tribunal (NCLT) directed Zee Entertainment Enterprises to call a shareholder meeting on October 14 over the proposed merger deal with Sony Pictures Networks India Pvt Ltd, a regulatory filing said on September 7.
Tanla Platforms | CMP: Rs 836.90 | The stock hit a 5 percent upper circuit after the company board approved a Rs 170-crore share buyback at Rs 1,200 per share through a tender offer.
Wockhardt | CMP: Rs 269.50 | The scrip shed 3 percent on September 8. The promoter of the firm created a pledge of 12 lakh shares on September 5.
