The Indian equity benchmarks closed in the red on June 8, with the Sensex down 0.47 percent at 62,848.64, and the Nifty down 0.49 percent at 18,634.50. About 1,454 shares advanced, 1,999 shares declined, and 104 shares remained unchanged.
2/11
Spicejet Ltd. | CMP Rs 27.94 | Shares of SpiceJet jumped 4 percent on June 8 morning, after the low-cost airline said it will partner with FTAI Aviation, a leading aftermarket provider of engine services, to reduce maintenance expenses and aircraft downtime. On June 7, SpiceJet also commenced Haj operations by operating special flights from Bhopal, Gaya, Vijayawada, Aurangabad and Srinagar. The SpiceJet stock has declined 41 percent in the last year as the airline faces a cash crunch, legal battles and regulatory headwinds.
3/11
One97 Communications Paytm Ltd. | CMP Rs 772.00 | Shares of Paytm operator One97 Communications surged nearly 6 percent on June 8, after global research and broking firm Bank of America Securities changed its rating to buy with an increase in target price by nearly 10 percent to Rs 855. The broking firm cited expectations of a strong revenue momentum for the company as the reason behind the upgrade.
4/11
Inox Wind Ltd. | CMP Rs 148.95 | Inox Wind shares gained 5 percent in morning trade on June 8 after the company announced bagging an order for a 100-MW wind power project from ABEnergia Renewables Pvt Ltd (ABEnergia), an independent power producer. As part of the order scheduled to be commissioned by 2024, Inox Wind will supply and install 3.3 MW wind turbine generators with 145 m rotor dia & 120 m hub height in Gujrat.
5/11
Titagarh Wagons Ltd. | CMP Rs 395.40 | Shares of Titagarh Wagons surged nearly 5 percent to a 52-week high in early trade June 8, a day after the company said it will consider a proposal to raise funds on June 10. The fund raise will be done either through a rights issue, preferential share issue, or the qualified institutional placement of equity shares. As for the QIP route, sentiment for the stock may improve if the company decides on a floor price that is at a premium to the current market price of the stock. Net profit for the wagon manufacturer jumped over twofold on year to Rs 48 crore while revenue surged 131 percent to Rs 974.21 crore in FY23.
6/11
PTC Industries Ltd. | CMP Rs 3015.70 | The share price of PTC Industries gained 4 percent on the BSE on June 8 after the company received approval for trading of its entire equity shares on the rival National Stock Exchange. The company has received approval for listing and trading of its entire 1,33,82,257 equity shares of face value of Rs 10 each. For the quarter ended March 2023, its net profit more than doubled to Rs 5.9 crore from Rs 2.4 crore in the year-ago period. Revenue from operations grew 17.7 percent YoY and operating margins expanded 300 basis points to 20.3 percent.
7/11
Jindal Poly Films Ltd. | CMP Rs 708.85 | Shares of Jindal Poly Films skyrocketed over 11 percent in early trade on June 8, a day after the company announced entering a Rs 396 crore agreement to buy a 100 percent stake in the Netherlands-based JPF Netherlands Investment. JPF recorded a consolidated turnover of 8.24 million euros in the fiscal year 2021-22.
8/11
Aether Industries Ltd. | CMP Rs 982.40 | Shares of Aether Industries Ltd jumped 7 percent in early trade on June 8, post signing a Letter of Intent (LoI) with a US-based leading global oil field services company for a strategic supplier and contract manufacturing partnership. Aether Industries Ltd stock has given a return of 8.83 percent over the last six months.
9/11
GATI Ltd. | CMP Rs 122.40 | Shares of the GATI Ltd surged 7 percent in morning trade on June 8, after the company announced a rise in volume in May. On a year-on-year (YoY) basis, Gati’s total volume had a 1 percent growth as compared to May 2022. On a monthly basis, volumes in May continued to exhibit a positive trajectory for the company.
10/11
Hatsun Agro Products Ltd. | CMP Rs 925.20 | Hatsun Agro Products share price rose 4 percent in the early trade on June 8 as the company is going to consider the sale of its windmill division. A meeting of the board of directors of the company will be held on July 5, 2023 to consider and approve the proposal for the sale by way of transfer of all the related assets and liabilities on a “Slump Sale” basis to the prospective buyer, at a price mutually agreeable to the company and the buyer. The trading window will be closed from Thursday, June 8, 2023, until the expiry of 48 hours from the date of meeting of the board intimating the outcome on the above said matter.
11/11
Punjab and Sind Bank | CMP Rs 32.80 | Shares of Punjab and Sind Bank jumped 3 percent in early trade on June 8 on the state-own lender’s plan to raise capital through bonds. The bank’s board will meet on June 12 to consider the proposal to raise capital through the issuance of Basel-III-compliant additional Tier-I or Tier-II bonds of up to Rs 750 crore in one or more tranches within 12 months from the date of approval. The Punjab and Sind Bank stock has given a return of 4.42 percent over the last six months, outperforming the Nifty Bank index, which has given a return of 1.91 percent during the same period.
