The Indian equity benchmarks closed in green with the Sensex up 0.67 percent at 63,143.16 and the Nifty up 0.62 percent at 18,716.20. As many as 2,050 shares advanced, 1,428 shares declined, and 134 shares remained unchanged.
2/11
Inox Wind Energy Ltd. | CMP Rs 2,065.95 | Shares of Inox Wind Energy shot up 13 percent on June 13, hitting a 52-week high of Rs 2,150, reacting to the announcement of the company’s merger with parent Inox Wind. Inox Wind Energy will merge with parent Inox Wind through a share swap with an issue price of Rs 847 each, in the ratio 10: 158 shares. The Inox Wind Energy stock has rallied more than 80 percent in the past three months and is up over 285 percent in the past one year.
3/11
Trent Ltd. | CMP Rs 1685.65 | The share price of Trent surged 5.6 percent in the early trade on June 13 to hit a 52-week high of Rs 1,675, a day after the Tata group company came out with an aggressive expansion plan at its annual general meeting. Tata group has announced an addition of 240 different stores in FY24 and a gross capital expenditure plan of Rs 800 crore for the current fiscal. The group is also looking into international expansion. Brokerages ICICI Securities, Motilal Oswal Financial Services and Nuvama Institutional Equities have rated the stock a buy.
4/11
Mankind Pharma Ltd. | CMP Rs 1521.20 | Shares of Mankind Pharma jumped 3 percent on June 13, hitting a 52-week high at Rs 1,540, after the foreign brokerage firm JP Morgan initiated coverage on shares of the pharmaceutical company with an ‘overweight’ rating and a target price of Rs 1,700, which implies a 10-percent upside from June 13's high. Mankind Pharma is one of the fastest-growing domestic pharmaceutical companies and its stock has delivered 37 percent returns since its listing in May 2023.
5/11
Zee Entertainment Enterprises Limited | CMP Rs 193 | Zee Entertainment shares opened 4 percent lower on June 13, a day after the market regulator Securities and Exchange Board of India (SEBI) barred chairman Subhash Chandra and CEO Punit Goenka from holding any key managerial positions upon abuse of power accusations. By close, the stock recovered most losses and ended flat. SEBI investigators pointed to the share price of ZEEL falling from Rs 600 to Rs 200 over FY19 to FY23, despite the company being so profitable, and said it showed that "all was not well with the company". It added, that during the period, the promoter shareholding dropped from 41.62 percent to the current level of 3.99 percent.
6/11
Engineers India Ltd. | CMP Rs 112.10 | Shares of Engineers India gained 2 percent in the early trade on June 13 after Oil and Natural Gas Corporation Limited (ONGC) awarded a project to the company. The total estimated order value is about Rs 472 crore with a project completion schedule of about 40 months. ONGC has awarded the project for the replacement of three CSU off-gas compressors and six regeneration gas compressors, installation of CBD vessel at Uran Plant under EPC reimbursable basis (Open Book Estimate or OBE mode) to Engineers India.
7/11
Man Infraconstruction Ltd. | CMP Rs 109.55 | Shares of Man Infraconstruction jumped 3 percent in early trade on June 13 to hit a 52-week high of Rs 111.90, a day after European investment firm Societe Generale picked up a 1.06 percent stake in the company. These shares were bought at an average price of Rs 102 a share. Recently, the stock witnessed a surge after its subsidiary announced a residential project in Mumbai's Ghatkopar East and the stock has been on a roll in recent weeks, gaining around 20 percent in June so far.
8/11
Usha Martin Ltd. | CMP Rs 285.95 | Shares of Usha Martin Ltd jumped 5 percent, post raising of stake by Motilal Oswal mutual fund. Motilal Oswal Mutual Fund (MOSTF30) has bought 18.5 lakh shares in the wire rope manufacturer via open market transaction at an average price of Rs 270.12 per share, which amounted to Rs 50 crore on June 12. The Usha Martin Ltd share has given a return of 110.03 percent over the last six months.
9/11
Greaves Cotton Ltd. | CMP Rs 137.05 | Shares of Greaves Cotton rose 2 percent on June 13 after the company said it has partnered with Bike Bazaar Finance to provide flexible financing options for the electric three-wheeler portfolio. Under the agreement, Bike Bazaar Finance will finance GEMPL's ELE-branded L3 electric vehicles. This partnership will initially take effect in Uttar Pradesh and Bihar, with plans to expand nationwide in the near future.
10/11
SJVN Ltd. | CMP Rs 38.35 | Shares of SJVN surged 4 percent on June 13 as the power generation company’s subsidiary bagged the entire quoted capacity of 200 MW for a wind power project. By close, the stock recovered most losses and ended flat. During the quarter ended March, consolidated net sales for SJVN jumped 56 percent YoY to Rs 503.77 crore while net profit shot up 130 percent to Rs 17.21 crore. Looking at the up move in the past decade, the stock price has almost doubled, climbing to Rs 38 from Rs 20.
11/11
Ramkrishna Forgings Ltd. | CMP Rs 411.90 | Shares of Ramkrishns Forgings Ltd jumped 6.7 percent on June 13 on the incorporation of a new company with Titagarh Rail Systems Limited (TRSL). The company “Ramkrishna Titagarh Rail Wheels Limited” has been incorporated for the manufacturing and supply of forged wheels under long- term agreement under Aatma Nirbhar Bharat. RKFL and TRSL will hold an equal stake in the total paid-up share capital of the new company.
