Benchmark indices erased early losses and ended lower on June 9 with Nifty below 15,650. At close, the Sensex was down 333.93 points or 0.64% at 51,941.64, and the Nifty was down 104.70 points or 0.67% at 15,635.40.
Tata Power Company | CMP: Rs 125 | The stock jumped over 6 percent after CCI cleared Tata Power's acquisition of stakes in three Odisha power utilities. Tata Power Company's proposed purchase of 51 percent stake each in three power utilities in Odisha has been cleared by fair trade regulator CCI. The company is to buy the stakes in Western Electricity Supply Company of Odisha (WESCO), Southern Electricity Supply Company of Odisha Ltd (SOUTHCO) and Central Electricity Supply Company of Odisha Ltd (CESCO).
GAIL (India) | CMP: Rs 162.70 | The stock price was down over 3 percent on June 9. Net profit grew 28.3 percent at Rs 1,908 crore against Rs 1,487.3 crore (QoQ). Revenue was down 0.1 percent at Rs 15,449 crore against Rs 15,454.3 crore (QoQ). EBITDA was up 28.4 percent at Rs 2,465 crore against Rs 1,919.5 crore (QoQ). EBITDA margin came in at 16 percent against 12.4 percent (QoQ).
Teamlease Services | CMP: Rs 3,650 | The share was up over 5 percent after the company posted net profit of Rs 18.9 crore in the quarter ended March 2021 against loss of Rs 29.4 crore in the year-ago period. Revenue was up at Rs 1,340.5 crore versus Rs 1,330.3 crore YoY. Earnings before interest, tax, depreciation and amortization (EBITDA) was up 30.5 percent at Rs 26.1 crore against Rs 20 crore and margin was up at 1.9 percent versus 1.5 percent (YoY).
Welspun Corp | CMP: Rs 156.40 | The scrip ended in the green on June 9. The company received multiple orders worth Rs 1,725 crore. "These include, reinstatement of an offshore sour pipes supply contract (270 km / 87 KMT) in Australia for the Barossa Offshore Development Project," the company said in its press release. With these orders, the company’s order book stands at 525 KMT valued at approximately Rs 4,800 crore, after considering execution up to May 2021.
Videocon Industries | CMP: Rs 6.35 | The share price hit 5 percent upper circuit on June 9 after National Company Law Tribunal (NCLT) cleared Vedanta Group firm Twin Star’s bid for Videocon Group. The Mumbai bench of NCLT on June 8 approved Vedanta Group subsidiary Twin Star Technologies’ resolution plan for Videocon Industries and 12 other companies of the Videocon Group. As per the terms of the resolution plan, Videocon Industries will be delisted, the company said in a notification to the stock exchanges.
Religare Enterprises | CMP: Rs 135.55 | The stock shed over 7 percent on June 9. The company approved fundraising via preferential share allotment of up to Rs 570 crore. The company will raise funds from existing shareholders and select new marquee investors by allowing preferential shares at a price of Rs 105.25 per share. The board of directors will obtain the approval of members of the company in the extraordinary general meeting which is scheduled to be held on July 03, 2021.
Crompton Greaves | CMP: Rs 428 | The stock price jumped over 5 percent as 3.37 crore shares changed hands in a block deal window, according to CNBC-TV18. Earlier this month, rating agency CRISIL Limited reaffirmed the credit ratings of Crompton Greaves Consumer Electricals Limited. The credit rating agency has reaffirmed AA+ rating with a stable outlook on Rs 300 crore and Rs 180 crore programs of non-convertible debentures (NCDs). Domestic brokerage firm, Anand Rathi has a buy recommendation on the stock with a target of Rs 459 per share.
Insecticides India | CMP: Rs 608.70 | The scrip gained over 6 percent after the company received patent for composition of Hexacondazole & Carbendazim. The Government of India, the Patent Office has granted the Patent no. 368791 titled as "A synergistic fungicidal composition comprising Hexaconazole and Carbendazim" to Insecticides (India) for the term of 20 years from 15h day of June 2017 (Date of Filling)," the company said in the release.
Munjal Auto | CMP: Rs 69.20 | The share added over 3 percent after the company posted net profit of Rs 17.3 crore in the quarter ended March 2021 against loss of Rs 1.8 crore. Its revenue was up 81.9% at Rs 622.1 crore versus Rs 342 crore, (YoY).
Indian Metals & Ferro Alloys | CMP: Rs 471 | The stock was down over 3 percent on June 9. The company reported net profit at Rs 65.4 crore against loss of Rs 51.9 crore (YoY). Revenue was up 52 percent at Rs 576.1 crore against Rs 379 crore (YoY). EBITDA was at Rs 128.6 crore against EBITDA loss of Rs 3.6 crore (YoY).