Mid and smallcap stocks outperformed their frontline peers as their sectoral indices ended in the green for the third consecutive session. The BSE Midcap index closed 0.32 percent higher, while the smallcap index settled with a gain of 0.80 percent
Market benchmarks the Sensex and the Nifty ended lower on September 13. The Sensex closed 127 points, or 0.22 percent, lower at 58,177.76, while the Nifty ended the day at 17,355.30, down 14 points, or 0.08 percent.
Zomato | CMP: Rs 142.90 | The stock ended in the green on September 13. The food delivery platform recently decided to pull the plug on another business–nutraceutical— after it discontinued its grocery delivery service. Global research firm Credit Suisse has initiated with an outperform rating on the stock with the target at Rs 185 a share, an upside of 30 percent.
Tejas Networks | CMP: Rs 427.25 | The stock fell 5 percent on September 13. Tata Sons’ subsidiary Panatone Finvest has been allotted 1,93,79,845 shares of Tejas Networks by way of a preferential issue on a private placement basis. With this, the total shareholding of Tata Sons in Tejas Networks increased to 37.7% from 24.8%.
Reliance Infrastructure | CMP: Rs 77.90 | The share spiked 5 percent as the company won the arbitration award against the Delhi Metro Rail Corporation (DMRC). The Supreme Court directed DMRC to pay damages of Rs 2,950 crore plus interest up to the date of payment to Reliance Infrastructure-promoted Delhi Airport Metro Express Private Limited (DAMEPL). The proceeds from the arbitral award will be utilised for debt reduction.
Jet Airways | CMP: Rs 84.40 | The share jumped 5 percent after Kalrock-Jalan Consortium said the airline plans to start domestic operations in Q1CY22. The process of revival was on track with the existing air operator certificate. It was working closely with authorities on slot allocation, airport infrastructure and night parking, the company said. It plans to have more than 50 aircraft in three years and over 100 in five years.
Goldiam International | CMP: Rs 1,022.45 | The stock price jumped over 10 percent after the Board of Directors of the company on September 13 approved a proposal to buy back up to 3,80,000 shares of the company for an aggregate amount not exceeding Rs 45.60 crore.
Advanced Enzyme | CMP: Rs 412 | The scrip jumped over 12 percent after the company claimed that its nutraceutical supplement helped long COVID patients recover faster.
Granules India | CMP: Rs 323.45 | The share ended in the red on September 13. The company announced in an exchange filing that Granules USA, Inc, a wholly-owned foreign subsidiary of the company located in New Jersey, is voluntarily recalling a batch of Naproxen Sodium 220mg tablets at a retail level due to a minor “CGMP deviation”.
MTAR Technologies | CMP: Rs 1,407 | The stock added over 2 percent after the company received an export order for $29.82 million (around Rs 220 crore) from Bloom Energy, USA. This order is for the export of Yuma Hot Boxes and associated components for Bloom Energy to be delivered over the four quarters of the calendar year 2022.
Prakash Industries | CMP: Rs 68.75 | The stock added 2 percent after the company was declared the successful bidder for Bhaskarpara Coal Mine in the 12th tranche of coal mine auction.
Cupid | CMP: Rs 233 | The share ended in the green after the company received a purchase order of Rs 16.57 crore from the United Nations Population Fund (UNFPA).
Sandip Das
