Among sectors, FMCG and pharma ended marginally lower, while metal, realty, capital goods up 2-3 percent. BSE midcap and smallcap indices up 1% each.
Indian benchmark indices ended on positive note in the volatile session with Nifty above 17,300. At close, the Sensex was up 156.63 points or 0.27% at 58,222.10, and the Nifty was up 57.50 points or 0.33% at 17,331.80.
SpiceJet | CMP: Rs 41.55 | The scrip rose over 8 percent after the finance ministry modified the Emergency Credit Line Guarantee Scheme (ECLGS) by raising the loan limit to Rs 1,500 crore from Rs 400 crore to help the aviation industry. As per the modified ECLGS 3.0, an airline would be eligible for “100 per cent of their fund based or non-fund-based loan outstanding as on the reference dates or Rs 1,500 crore, whichever is lower; and of the above, Rs 500 crore shall be considered, based on equity contribution by the owners”.
JSW Energy | CMP: Rs 331.95 | The share price surged over 13 percent after the company’s subsidiary JSW Neo Energy has entered into a Memorandum of Understanding with the Government of Maharashtra for setting up a 960 MW capacity of Hydro Pumped Storage Project in Maharashtra. With this MoU, the company has secured resources for ~6 GW hydro PSPs with various states governments.
Bajaj Finance | CMP: Rs 7,405 | The scrip ended in the red on October 6 despite the company reporting robust AUM (assets under management) growth of 31 percent for the September quarter. AUM grew to approximately Rs 2.18 lakh crore as compared to Rs 1.66 lakh crore as of 30 September 2021. In an exchange filing, the company informed that customer franchise now stands at 62.9 million as compared to 52.8 million in the year-ago period. “In Q2FY23, the customer franchise increased by 2.6 million. New loans booked during the quarter were 6.8 million as compared to 6.3 million in Q2FY22,” it added.
Bharat Forge | CMP: Rs 762.95 | The stock jumped close to 8 percent after preliminary class 8 truck orders in North America reached a record high on a monthly basis, according to data from ACT research. Orders in September doubled from last year to 56,500 units. On a month-on-month basis, the growth was 164 percent.
Godrej Consumer Products | CMP: Rs 855.10 | The stock price fell over 4 percent after the company came out with a disappointing quarterly update. The company said that it expects mid-single-digit volume drop, with a low single-digit 3-year volume CAGR, as the FMCG industry continued to remain soft during the quarter.
Zee Entertainment Enterprises | CMP: Rs 280.50 | The share jumped over 4 percent after CLSA maintained buy rating on Zee Entertainment Enterprises with a target at Rs 316 per share. The Sony merger will be a stock re-rating catalyst and valuation is compelling at current levels, reported CNBC-TV18.
HFCL | CMP: Rs 77.20 | The scrip gained over 3 percent on October 6. HFCL has entered into an agreement with Qualcomm Technologies Inc., for HFCL’s design and development of 5G Outdoor Small Cell products. In continuation with its 5G strategy, HFCL’s investment in 5G Outdoor Small Cell products will enable faster rollout of 5G networks, improved 5G user experience and more efficient utilization of 5G spectrum, company said in its release.
Can Fin Homes | CMP: Rs 501.30 | The share price ended in the green on October 6. Canara Bank promoted housing loan provider Can Fin Homes is planning to raise debt capital of up to Rs 4,000 crore and will seek board of directors’ approval on this proposal later this month. The board of directors of the company is scheduled to meet on October 17, 2022 to approve financial results for the company’s second quarter and first half ended September 2022-23, the firm said.
Manali Petrochemicals | CMP: Rs 97.40 | The stock jumped over 4 percent after the Ministry of Environment, Forest, and Climate Change, Government of India granted environmental clearance for the project for augmentation of Propylene Glycol capacity in Plant 2 of the company. The project would be implemented in two phases and the first phase would be completed within 18-21 months of receipt of the other regulatory approvals, such as Consent To Establish from the State Pollution Control Board, it said.
Ujjivan Small Finance Bank | CMP: Rs 24.35 | The scrip surged over 5 percent after the bank crossed the Rs 20,000 crore milestone with both advances and deposit showing robust growth. Advances were up 44% YoY and 8% QoQ to Rs 20,938 crore on the back of sustained growth in disbursement which grew 56% YoY and 12% QoQ to Rs 4,867 crore.
Sandip Das
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