Except power, FMCG and auto, all other sectoral indices ended lower. Bank index shed more than one percent.
Benchmark indices ended lower for the second consecutive session on September 22 after the US Federal Reserve hiked the interest rates by 75 basis points. At close, the Sensex was down 337.06 points or 0.57 percent at 59,119.72, and the Nifty was down 88.50 points or 0.50 percent at 17,629.80.
Fortis Healthcare | CMP: Rs 264.80 | The stock price tumbled 15 percent after the Supreme Court ordered the continuation of stay on the IHH open offer. The top court asked executing court to consider the appointment of forensic auditors to analyse transactions between lenders and financial institutions.
Spicejet | CMP: Rs 40.50 | The scrip shed over 3 percent after DGCA ordered the airline to continue operating at 50 percent capacity till October 29.
Aptus Value Housing Finance | CMP: Rs 319 | The share price jumped over 7 percent after brokerage firm Citigroup initiated coverage on the stock with a ‘buy’ rating and a price target of Rs 425, implying an upside of 43 percent over the next 12 months. The brokerage believes the affordable housing financier could provide strong earnings growth in the coming years, driven by its small size and ‘good’ execution track record that should enable a 29 percent annualised growth in assets under management over the next three years.
GMM Pfaudler | CMP: Rs 1,912 | The scrip gained over 3 percent on September 22. “As part of the government/ regulatory approvals required for the acquisition of balance 46% shareholding of GMM International S.à.r.l., the Secretary of State for Business, Energy and Industrial Strategy, United Kingdom has provided its approval through its letter dated September 21, 2022,” GMM Pfaudler said in a statement.
Ashoka Buildcon | CMP: Rs 84.45 | The stock price rose over 2 percent after the company received a Letter of Acceptance from South Western Railway for the construction of a new line between Tolahunse and Bharmasagar stations in Karnataka on engineering, procurement and construction mode.
Punjab National Bank | CMP: Rs 40.55 | The share price ended in the green after the PSU banking major raised Rs 658 crore by issuing Basel III compliant additional Tier-1 bonds at a coupon rate of 8.3 percent per annum, on a private placement basis.
Bharat Electronics | CMP: Rs 110.15 | The scrip ended in the green after Jefferies kept a buy rating on Bharat Electronics and raised the target price to Rs 130 per share. It has raised FY24-25 EPS estimates by 2-6 percent, reported CNBC-TV18.
KP Energy | CMP: Rs 435.15 | The stock jumped 5 percent after the firm bagged an order for an 8.1 MW hybrid power project in Gujarat.
Kirloskar Oil Engines |CMP: Rs 240.20 | The share added 2 percent after the company appointed Anurag Bhagania as chief financial officer with effect from September 22. In addition, the company acquired the remaining 24 percent stake in La-Gajjar Machineries. It took a 76 percent stake in LGM in 2017 with an agreement that the balance holding will be acquired by KOEL over a five-year period.
Swan Energy | CMP: Rs 233.25 | The stock jumped over 8 percent after the firm picked an additional 3.36 percent stake or 9.01 lakh shares in Veritas (India) via open market transactions on September 20. It already held 1,441 shares in the company.
Sandip Das
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