On August 21, Sensex closed 214 points, or 0.56 percent up at 38,434.72 while Nifty settled 59 points, or 0.53 percent, up at 11,371.60. BSE Midcap rose 0.57 percent while BSE Smallcap outperformed, rising 1.41 percent.
State Bank of India | CMP: Rs 198.10 | The stock gained almost 2 percent after CLSA maintained buy and raised target price to Rs 310 from Rs 270 per share. It believes that the company presents a deep value opportunity. It is relatively better positioned on asset quality post-COVID.
Jindal Stainless | CMP: Rs 51.65 | The share price jumped 9 percent after the company said India Ratings affirmed its ratings. "...credit rating agency India Ratings and Research, a Fitch group company, has affirmed Jindal Stainless' long-term issuer rating at 'IND 888' with a 'stable' outlook," the company said in a BSE filing on August 20.
Strides Pharma Science | CMP: Rs 614.90 | The stock jumped over 8 percent after the company received US FDA approval for Ursodiol tablets. Strides Pharma Science Limited on August 21 announced that its step-down wholly-owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received approval for Ursodiol Tablets USP, 250 mg and 500 mg from the United States Food & Drug Administration (USFDA). The product is a generic version of Urso 250® Tablets, 250 mg and Urso Forte Tablets®, 500 mg, of Allergan Sales, LLC, the company said in an exchange filing.
Aarti Drugs | CMP: Rs 3133.70 | The share price surged 10 percent hitting a new 52-week high. It has jumped over 28 percent in the last two days after the Board of Directors approved the issuance of fully paid-up bonus share. The Board of Directors at its Meeting held on August 20, 2020, have approved the issuance of fully paid-up bonus shares in the ratio of 3:1 i.e. 3 (Three) bonus equity shares of Rs 10 each for 1 (One) fully paid-up equity share of Rs 10 each, the company said in an exchange filing.
Max Healthcare Institute | CMP: Rs 111.75 | The stock price jumped 5 percent as the scrip made a decent debut on bourses on August 21 as it got listed at Rs 107 on BSE and jumped 5 percent soon to get locked at the upper circuit at Rs 112.35. The stock is part of the 'T' group of securities on BSE and it will be in the trade-for-trade segment for 10 trading sessions.
Finolex Cables | CMP: Rs 302 | The share price gained over 2 percent after global brokerage firm Jefferies maintained buy call in the stock, citing that company's Q1 revenue was ahead of its estimates. It has a target price of Rs 415 per share.
Indian Overseas Bank | CMP: Rs 11.70 | The stock was up 2 percent after the state-owned lender posted a net profit of Rs 121 crore for June quarter 2020 mainly due to a fall in bad loans. The bank posted a net loss of Rs 342.08 crore in the same quarter a year ago.
GMM Pfaudler | CMP: Rs 6009 | The share price gained 2 percent after the company acquired 54 percent stake in its parent firm Pfaudler Group for a consideration of around $27.4 million. It has signed definitive agreements to acquire a majority stake in Pfaudler Group from the private equity firm Deutsche Beteiligungs AG Fund VI (DBAG) for the stake.
Premier Explosives | CMP: Rs 135.85 | The stock jumped 5 percent after the company received an order from Israel Aerospace Industries, Israel (IAI) for development and supply of EDRM rocket motors for a total value of USD 520,000 (about Rs 3.90 crore). Order is expected to be delivered within 9 months.
Phoenix Mills | CMP: Rs 711 | The share price spiked almost 10 percent after the company raised Rs 1,100 crore from institutional investors through a qualified institutional offering (QIP) this week, according to a Mint report.
