On the sectoral front, realty index added 3.5 percent, while selling was seen in the IT, metal, oil & gas and power indices. BSE midcap and smallcap indices ended in the green.
The benchmark indices ended flat on July 12 after a volatile day of trade. At close, the Sensex was down 13.50 points or 0.03% at 52,372.69, and the Nifty was up 2.80 points or 0.02% at 15,692.60.
Kitex Garments | CMP: Rs 168.65 | The share price surged 20 percent after the kids apparel maker decided to initially invest Rs 1,000 crore in Telangana. The company entered Telangana with an initial investment of Rs 1,000 crore, state Industries and Commerce Minister KT Rama Rao announced on July 9. The announcement came days after the company decided to withdraw from Kerala citing the “harassment” by state officials.
Tanla Platforms | CMP: Rs 886.45 | The stock jumped 5 percent after the cloud communication company said it was considering a share buyback. “A meeting of the board of directors of the company will commence on Wednesday, July 21, 2021, and end on Thursday, July 22, 2021, to consider and approve the unaudited financial results (standalone and consolidated) of the company for the quarter ended June 30, 2021,” the company said in its release.
Avenue Supermarts | CMP: Rs 3,347 | The share ended in the red on July 12 even after the company reported a 132.3 percent YoY increase in standalone profit at Rs 115.13 crore, driven by a low base in the year-ago period, but impacted by restrictions on the number of hours of store operations due to the second wave of Covid-19. Citi has a sell rating with the target at Rs 2,210, while Morgan Stanley has downgraded the stock to equal-weight with the target at Rs 3,268.
Hatsun Agro Products | CMP: Rs 1,022 | The scrip gained over 9 percent after the company commenced commercial production of milk at its Uthiyur plant. The Tamil Nadu Pollution Control Board granted its consent to operate the company’s plant situated in Uthiyur Village, Kangeyam Taluk, Tirupur District, the company said in a release.
Equitas Holdings | CMP: Rs 138.20 | The share price was up 20 percent after Equitas Small Finance Bank received the Reserve Bank of India’s permission to apply for a scheme of amalgamation of the promoter entity with the bank. Equitas Small Finance Bank on July 10 informed that it received the RBI’s permission to apply for the scheme of amalgamation, it said in a regulatory filing.
Granules India | CMP: Rs 370.05 | The stock ended in the green on July 12 after the company described as malicious reports that the firm was being sold to some private equity investors. The management continues to remain committed to the growth of the company, it added.
Federal Bank | CMP: Rs 89.60 | The stock price gained over 4 percent after the Reserve Bank of India (RBI) cleared Shyam Srinivasan’s reappointment as the managing director and chief executive officer for another three years.
Ujjivan Financial Services | CMP: Rs 244.80 | The share price zoomed 20 percent after its arm Ujjivan Small Finance Bank on July 10 said it would initiate steps for the amalgamation of the holding company Ujjivan Financial Services Ltd with the bank.
SJVN | CMP: Rs 28.80 | The scrip added 2 percent after Nepal signed a $1.3 billion deal with India’s hydropower major Satluj Jal Vidyut Nigam (SJVN) to develop a 679-megawatt hydropower project in eastern Nepal, the second mega venture undertaken by India in the neighbouring Himalayan nation.
Compucom Software | CMP: Rs 14.50 | The share jumped over 4 percent after the company won a tender and received a Letter of Acceptance for IT enablement of PESA/FRA Acts with other schemes for Tribal Area Development (TAD) Department, Government of Rajasthan and operations & maintenance services for a period of six months from RISL.
Sandip Das
