Spencer’s Retail shares emerged the biggest gainers on Tuesday, as December quarter shareholding data showed Radhakrishnan Damani bought over 16 lakh shares in the company.
Fortis Healthcare gained as data showed mutual funds, overseas investors and Rakesh Jhunjhunwala increased stake in the company in during October-December. BSE flagship Sensex slipped 205 points to 41,323 while NSE barometer Nifty dipped 54.70 points to 12,169. The broader market performed better, as smallcaps ended flat.
“Subdued Q3 earnings have triggered consolidation in the market. We believe this is a rational reaction of the market, which will hold in the short term and can reverse as per the Budget outcome and December quarter results,” said Vinod Nair, Head of Research, Geojit Financial Services.
Here is a lowdown of the movers and shakers of Tuesday’s session on Dalal Street:
Zomato orders Uber Eat
Zomato said it has acquired the Indian business of Uber Eats in an all-stock deal that will give Uber 9.99 per cent stake in the Indian food delivery and restaurant discovery platform. Shares of Info Edge, which owns a part of Zomato, edged 1.54 per cent lower to Rs 2,549.
BOI gets new MD
State-run Bank of India (BoI) said Atanu Kumar Das has been appointed as its Managing Director and Chief Executive Officer for three years. Shares of the lender rose 0.37 per cent to Rs 67.35
Voda Idea to get relief?
Shares of Vodafone Idea jumped 22 per cent to Rs 5.92 after the Supreme Court agreed to hear the modification applications of telecom players on AGR dues next week. Meanwhile, the Reserve Bank of India said it has cancelled the certificate of authorisation (CoA) of Vodafone m-pesa on account of voluntary surrender of authorisation.
USFDA inspects Alembic unit
Drug firm Alembic Pharmaceuticals said the US health regulator conducted an inspection at its facility in Karkhadi, Gujarat. At the end of the inspection, the US regulator issued a Form 483 with two observations, the drug firm said in a filing to BSE.
Trouble in the air?
Shares of airline companies slipped up to 5 per cent after domestic air passenger traffic growth slowed to 3.74 per cent in 2019. SpiceJet closed 0.93 per cent lower at Rs 101.70 while Interglobe Aviation fell 2.24 per cent to Rs 1,438. Shares of defunct airline Jet Airways slumped 4.98 per cent to Rs 41.
D-Mart owner shops at Spencer’s
Shares of Spencer’s Retail rallied 20 per cent to Rs 89.50 after ace equity investor and D-Mart promoter Radhakishan Damani bought 16.61 lakh shares in the company in December quarter.
Mitsubishi sells Cipla shares
Japan’s Mitsubishi UFJ Financial Group (MUFG) has sold 2.10 per cent stake in the homegrown pharma major Cipla. Shares of the company closed 1.44 per cent down at Rs 473.25.
RJ trims Escorts stake
Rakesh Jhunjhunwala cut stake in the tractor manufacturer in the October-December quarter. He now holds 7.73 per cent in the company against 8.16 per cent held earlier. Shares of the company dipped 1.29 per cent to Rs 703.90.
RJ, MFs, FIIs up stake in Fortis
Ace investor Rakesh Jhunjhunwala, domestic fund managers and overseas investors increased stakes in Fortis Healthcare during the October-December quarter, the company’s latest shareholding pattern showed. Shares of the company closed 2.27 per cent down at Rs 146.50.
Smallcaps close flat
Broader market indices fared better than their headline peers and closed flat. Nifty Smallcap index rose 0.06 per cent to 6,248 while Nifty Midcap index ended the day 0.12 per cent down at 17,952. Nifty500 fell 0.38 per cent to 9,987.
ZEE surges ahead of Q3 nos
Nifty Media index gained 2.2 per cent and was among the two gainers along with Nifty Pharma. Zee Entertainment was among the biggest gainers in the pack, up 4.52 per cent to Rs 283 ahead of its Q3 numbers.
Who moved my Sensex?
HDFC Bank was the biggest negative contributor as it contributed 43 points to the Sensex fall. ITC, ICICI Bank and Infosys were other major laggards and cumulatively bled Sensex 75 points.
13 stocks ‘oversold’
As many as 13 stocks turned ‘oversold’, as they crossed the below 30-mark on Relative Strength Indicator (RSI). They include IndianOil, Suven Life Sciences, SITI Networks, Sical Logistics, lemon Tree Hotels and Prism Medico, among others. Stocks with RSI value below 30 are considered oversold. This implies that these stocks may rebound.
Source: Economic Times