The benchmark indices on July 14 witnessed profit-booking that dragged the Nifty below 10,650 on the back of selling pressure in auto, bank and metal stocks. At close, the Sensex was down 660.63 points, or 1.80%, at 36033.06, and the Nifty ended 195.30 points or 1.81% lower at 10,607.40. About 820 shares advanced, 1,829 declined and 116 shares remained unchanged.
2/11
Eveready Industries | CMP: Rs 89.10 | The share price surged 10 percent after the promoters of Dabur reportedly bought an 8.48 percent stake in the company through a bulk deal. The Burman family confirmed the purchase to CNBC-TV18. The spokesperson said the investment was purely in the family’s personal capacity and its stake in Eveready had risen to 20 percent.
3/11
BF Utilities | The shares jumped 10 percent after ace investor and billionaire Radhakishan Damani acquired a 1.3 percent equity stake. Damani acquired 4.91 lakh equity shares in Kalyani group company BF Utilities during the quarter ended June 30. It is the second company in which Damani bought fresh shares during the June quarter, as per the latest shareholding pattern available on exchanges.
4/11
Bharat Heavy Electricals | CMP: Rs 39.15 | The stock shed over 8 percent after research house Citi downgraded the stock to 'sell' from 'neutral', with a target of Rs 34 per share. According to Citi, after the recent rally, the company is trading at 0.5x P/BV. The valuation is unappealing, given 4 percent RoE and risks to cash flows and profits.
5/11
Biocon | CMP: Rs 436.85 | The stock jumped more than 5 percent after the company said it will launch biologic drug Itolizumab for the treatment of moderate to severe COVID-19 patients at a price of around Rs 8,000 per vial. The company received the Drugs Controller General of India's nod to market Itolizumab injection 25mg/5mL solution for emergency use for the treatment of cytokine release syndrome in moderate to severe acute respiratory distress syndrome due to COVID-19.
6/11
Mindtree | CMP: Rs 973 | The share price shed 3 percent after the company declared its Q1 results. Its net profit grew 3.3 percent at Rs 213 crore against Rs 206.2 crore QoQ. Dollar revenue went down 9 percent at $253.2 million against $ 278.4 million QoQ. Rupee revenue was down 6.9 percent at Rs 1,908.8 crore against Rs 2,050.5 crore QoQ. EBIT went up 2.6 percent at Rs 262.3 crore against Rs 255.7 crore QoQ. EBIT margin stood at 13.7 percent against 12.5 percent QoQ.
7/11
Century Textiles & Industries | CMP: Rs 300.50 | The stock was down more than 3 percent after the company reported Q1 consolidated net loss at Rs 40 crore against a profit of Rs 64.6 crore. Revenue was down 54.3 percent at Rs 399.9 crore against Rs 875.1 crore, YoY, reported CNBC-TV18.
8/11
Yes Bank | CMP: Rs 20.90 | The share price tumbled more than 5 percent, with the scrip tumbling over 22 percent in the last three days. The bank plans to raise Rs 15,000 crore through a further purchase offer (FPO) that opens on July 15 and closes July 17. The stock has been under pressure following reports that SEBI may look into a large number of stock transactions of the lender under the Securities Lending and Borrowing Mechanism.
9/11
Vodafone Idea | CMP: Rs 9.30 | The stock was down almost 5 percent after TDSAT refused to stay the sector regulator’s order asking to put on hold Vodafone Idea’s RedX plan offering faster data speeds and priority services to higher-paying postpaid customers. Vodafone Idea approached the appellate tribunal on July 14. The hearing will continue on July 16, TDSAT said.
10/11
Avantel | CMP: Rs 340.15 | The share price jumped 6 percent after the company received a Rs 5.29-crore from DRDO for the supply of Tele-Command RF System.
11/11
Motherson Sumi Systems | CMP: Rs 94 | The stock shed 2 percent after Moody's Investors Service downgraded the rating outlook of the auto component maker to negative on account of expected weak financial performance in the ongoing fiscal due to the coronavirus pandemic. Moody's changed the outlook on the rating to 'negative' from 'ratings under review', the rating agency said in a statement.
