The Indian equity benchmarks ended lower on June 23, with the Sensex down 0.41 percent at 62,979.37 and the Nifty sliding 0.56 percent to 18,665.50. As many as 1,142 shares advanced, 2,231 declined and 140 shares remained unchanged.
2/11
Adani Enterprises Ltd | CMP Rs 2,233.55 | Adani Enterprises shares tumbled nearly 7 percent on June 23 due to reports of the ports-to-power conglomerate facing further scrutiny by the US Attorney's Office and market regulator the Securities and Exchange Commission. The authorities are looking into the representations that Adani made to its American investors following short-seller Hindenburg's report, a Bloomberg report said.
3/11
Bharat Petroleum Corporation Ltd | CMP Rs 359.60 | Bharat Petroleum Corporation (BPCL) share price fell nearly 4 percent on June 23 ahead of the company's board meeting to consider a fundraising plan. A meeting of the board of directors of Bharat Petroleum Corporation will be held on June 28, 2023, to consider the various modalities for capital infusion, including rights issue, for achieving energy transition, net zero and energy security objectives, subject to requisite approvals as required under applicable law, the company said in its release.
4/11
PNB Housing Finance Ltd | CMP Rs 588.85 | Shares of PNB Housing Finance dropped over 3 percent on June 23 after board approval for raising up to Rs 5,000 crore. Motilal Oswal recommended a ‘neutral’ rating on PNB Housing Finance with a target price of Rs 525 in its research report dated May 19, 2023.
5/11
Aurobindo Pharma Ltd. | CMP Rs 699.15 | Aurobindo Pharma share price rose 4 intraday on June 23 after one of its subsidiaries entered into a sub-licensing pact with medicines patent pool for Nilotinib Capsules. The product will be produced at Eugia Pharma’s unit Medchal in Telangana’s Malkajgiri district. The share touched a 52-week high of Rs 692 on June 19, 2023, and a 52-week low of Rs 397.30 on February 3, 2023.
6/11
63 Moons Technologies Ltd | CMP Rs 201.70 | Shares of 63 Moons Tech surged 20 percent on June 23 amidst speculation of a deal extension with Multi Commodity Exchange. On June 22, MCX cancelled its mock session for their new trading platform thus prompting an expansion of their deal with software services provider 63 Moons Tech. MCX’s deal with Moons Tech to maintain its trading platform expires this month. The deal was supposed to end last year but has been extended several times as MCX has failed to complete its work on an alternative.
7/11
Sterling and Wilson Renewable Energy Ltd | CMP Rs 289.15 | Shares of Sterling and Wilson Renewable Energy jumped 6 percent on June 23 after a huge block deal took place on the bourses. Around 35 lakh shares worth Rs 103 crore exchanged hands at Rs 295.25 per share, as per reports. By close the stock could not sustain initial gains and ended nearly 3 percent lower.
8/11
Hindustan Construction Company Ltd | CMP Rs 19.85 | Shares of Hindustan Construction Company (HCC) were down 5.5 percent on June 23 after a big rally just a day earlier. The stock has lost 4.28 percent since the beginning of the year. The 52-week high and low for the stock are Rs 22.10 and Rs 11.80, respectively. The company’s revenue fell 8 percent year-on-year in FY23 to Rs 9912 crore.
9/11
Voltas Ltd. | CMP Rs 750.50 | Shares of Voltas fell 4 percent on June 23 after foreign broking firm UBS took a cautious stance on Voltas while downgrading the stock to 'neutral' and slashing the target price to Rs 840 from Rs 1,200 per share. UBS believes that the challenges faced by the industry are expected to persist, making it a tough task for Voltas to expand its market share and enhance operational profit margins (OPM).
10/11
Orchid Pharma Ltd | CMP Rs 470.00 | Shares of Orchid Pharma were locked in a 5 percent upper circuit on June 23 after the company launched a qualified institutions placement (QIP) of equity shares, which is at a discount of about 5 percent to the previous closing price. The company said it has set the floor price at Rs 425.19. Orchid Pharma’s board will decide on the issue price or any discount that it will offer on June 27.
11/11
Landmark Cars Ltd | CMP Rs 717.15 | Shares of Landmark Cars surged over 8 percent on June 23 following a block deal on the exchanges. Around 11 percent stake in the company changed hands on the exchanges on June 23. The transaction was done at a floor price of Rs 658 apiece, a discount of one percent from the previous closing price, taking the deal value to Rs 293 crore.
