The Benchmark Indices concluded Friday’s trading session positively, with the Sensex rising by 819.69 points, or nearly 1.04%, ending the day at 79,705.91.
Meanwhile, the Nifty 50 index increased by about 250.5 points, equivalent to a gain of nearly 1.04%, and closed in the green at 24,367.5.
| Top 5 Gainers in Today’s Trade: | Top 5 Losers in Today’s Trade: |
| KFIN Technologies Ltd. (18.3%) | Alembic Pharmaceuticals Ltd (6.9%) |
| Avanti Feeds Ltd. (15.4%) | Steel Authority of India Ltd (5.9%) |
| Trent Ltd. (11.2%) | Lemon Tree Hotels Ltd. (5.1%) |
| NBCC (India) Ltd. (9.3%) | Timken India Ltd. (5%) |
| Affle (India) Ltd. (7.6%) | Bayer CropScience Ltd. (4.7%) |
Earnings Call:
Trent Ltd (10% Upper circuit)
Net Profits – (45)% QoQ | 135% YoY
Revenue from operations – 24% QoQ | 56% YoY
Apollo Micro Systems Ltd (jumped 9%)
Net Profits – (34)% QoQ | 375% YoY
Revenue from operations – (32%) QoQ | 58% YoY
Bharat Rasayan Ltd (20% upper circuit)
Net Profits – (36)% QoQ | 514% YoY
Revenue from operations – (9%) QoQ | 17% YoY
Mayur Uniquoters Ltd (jumped 10%)
Net Profits – 15.6% QoQ | 19.4% YoY
Revenue from operations – (3.6%) QoQ | 6% YoY
The company’s Board approved a buyback of 5 lakh equity shares, representing up to 1.14% of the company’s total number of equity shares. The buyback will be done at a price of ₹800 per share in cash, for an aggregate amount not exceeding ₹40 crores, and has fixed 23rd August as the record date.
Cochin Shipyard Limited (jumped 8%)
Net Profits – 32% QoQ | 40% YoY
Revenue from operations – (40%) QoQ | 62% YoY
Cosmo First Ltd (jumped 7%)
Net Profits – 101% QoQ | 123% YoY
Revenue from operations – 8% QoQ | 5% YoY
J.G. Chemicals Ltd shares (jumped 16%)
Net Profits- 307% YoY
Revenue from operations -16.3% YoY
Orders & Board Approval:
Ceigall India Ltd jumped 3% after securing orders for the development of Kanpur Central Bus Terminal and Bhuvaneshwar Metro Project Phase I aggregating to ₹1,042 crores.
NBCC (India) Ltd jumped 11.6% after securing a work order worth ₹15,000 crores from the Srinagar Development Authority for the development of a Satellite Township spread over 406 acres at Rakh-e-Gund Akshah, Bemina, Srinagar (J&K).
Solex Energy Ltd jumped 10% after the company’s Board approved the recommendation of issuance of Bonus Shares to the shareholders of the company in a 1:4 ratio.
Mindteck (India) Limited jumped 2.8% after the company’s Board recommended the issuance of bonus equity shares to the equity shareholders in the 1:4 ratio.
Pondy Oxides & Chemicals Limited jumped 3.2% after the company’s Board approved the sub-division/ split of equity shares of the company in a 1:2 ratio.
Stock Recommendations:
Oil and Natural Gas Corporation Ltd (jumped 4.1%) – Morgan Stanley issued an ‘overweight’ rating for ONGC, setting a target price of ₹430 per share, indicating a potential upside of nearly 30% from Friday’s closing price of ₹332.6.
Lupin Ltd (hit a new 52-week high) – JP Morgan upgraded its rating to ‘overweight’ from ‘neutral’ and increased the target price from ₹1,440 to ₹2,400, representing a potential upside of 14% from Friday’s closing price of ₹2,113.7.
IndusInd Bank Ltd (jumped 1.5%) – Morgan Stanley issued an ‘overweight’ rating for IndusInd Bank, setting a target price of ₹1,780 per share, indicating a potential upside of nearly 32% from Friday’s closing price of ₹1,350.2.
Eicher Motors Ltd. (jumped 6%) – Goldman Sachs maintained a ‘buy’ rating on the stock and raised its 12-month target price to ₹5,600 from ₹5,400, representing a potential upside of nearly 16% from its closing price of ₹4,832.85.
Block Deal:
Nexus REIT – Global investment firm Blackstone plans to sell 33 crore units of its REIT firm ‘Nexus Select Trust’ for nearly ₹4,500 crore through a block deal on the stock exchanges, according to sources. Blackstone currently holds around a 43% stake in Nexus Select Trust.
Written by Shivani Singh
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