[ad_1]
The Sensex was up 52.01 points or 0.08 percent at 67,519.00, and the Nifty was up 33.10 points or 0.16 percent at 20,103.10. About 2302 shares advanced, 1243 shares declined, and 145 shares were unchanged.
Dalmia Bharat Sugar | CMP Rs 462 | Shares traded 8.5 percent higher after Dam Capital initiated coverage on sugar stocks, with a ‘buy’ rating on all four. It projected strong growth for the sugar companies on the back of expected higher prices. Decline in production, El-Nino, and ethanol blending are key triggers for the bullish sentiment.
UPL | CMP Rs 632 | Shares traded nearly 4 percent higher after brokerages revised the rating to “Buy”. Antique Stock Broking has revised its rating on UPL to a Buy due to the stabilising of product price and receding channel inventory. UPL has also seen a correction in stock price by 18 percent since March 2023.
CONCOR | CMP Rs 722 | Stock gained over 3 percent after Jefferies raised the target price to Rs 825 from Rs 775 earlier. This is because the road-to-rail cargo shift is seeing traction due to the Dedicated Freight Corridor (DFC) and Container Corporation of India should start to regain lost market share as its DFC network presence pays off, foreign brokerage firm Jefferies said.
Kirloskar Ferrous | CMP Rs 476 | Shares traded 5.5 percent higher after the company said that its resolution plan for corporate debtor Oliver Engineering had been approved by the National Company Law Tribunal, New Delhi Bench. According to a regulatory filing by Kirloskar Ferrous Industries, the plan was approved by an order dated September 12, which was received by the company on September 13.
Bajaj Healthcare | CMP Rs 416 | Shares gained 1 percent higher after the company received an Establishment Inspection Report (EIR) from the US Food and Drug Administration (FDA) for its plant in Savli, Vadodara, Gujarat. The pre-approval inspection (PAI) for the plant was carried out by the USFDA in November 2022. The company received no 483 observations in the inspection. Stock most of it gains as it was trading over 8 percent higher in today’s session.
IRCTC | CMP Rs 696 | Shares soared 1.5 percent after the company signed a Memorandum of Understanding (MOU) with Maharashtra State Road Transport Corporation (MSTRC) to enable MSRTC’s online bus booking services via IRCTC’s bus booking portal/website. “The signing of the MOU between IRCTC and MSRTC is a significant milestone in enhancing passenger experience by allowing them to simplify their travel arrangements from a single point. This integration will give the passengers the advantage of seamless access to last-mile connectivity via the IRCTC Bus Booking Portal, ensuring a smooth journey,” said Smt. Seema Kumar, CMD of IRCTC.
NBCC | CMP Rs 60 | Shares were up 8 percent after the company signed a quadripartite MoU with Ministry Of Steel, RINL & NLMC and receiving order worth Rs 180 crore. The company has signed a quadripartite MoU with Ministry of Steel (MoS) Govt. of India, Rashtriya Ispat Nigam Limited (RINL) and National Land Monetization Corp. Ltd. (NLMC) for monetization of the non-core assets of RINL at Vishakhapatnam. As per MoU, NBCC would act as technical cum transaction advisor and assist Ministry of Steel (MoS), RINL and NLMC in monetization of the non-core assets.
Bombay Dyeing | CMP Rs 153 | Shares zoomed 9 percent after the company board approved to sell 22 acres of land parcel situated at Worli, Mumbai. The deal value worth Rs 5,200 crore is greater than Bombay Dyeing’s closing market cap of Rs 2,900 crore on September 13, when the deal was announced. Analysts believe the company may look to reduce debt with the proceeds from the deal. The group’s debt that currently stands at Rs 3,969 crore. Stock erased half its gains as it was trading 20 percent higher in today’s sesssion.
Suven Pharma | CMP Rs 528 | Shares surged 2 percent in early trade on September 14 after the Cabinet Committee on Economic Affairs approved a foreign investment of up to Rs 9,589 crore by Cyprus-based Berhyanda Ltd to acquire up to 76.1 percent stake in the company. With this approval, the total foreign investment in Suven could potentially reach 90.1 percent, surpassing the permitted Foreign Direct Investment (FDI) limit of 74 percent in brownfield pharmaceutical projects under the current policy.
KPI Green Energy | CMP Rs 848 | Shares traded 4 percent higher after the company commissioned a hybrid power project at Surat. The company has successfully commissioned a 7.80 MW wind-solar hybrid power project comprising 4.20MW wind energy facilitated by KPI Green and 3.60 MWdc of solar capacity provided by its wholly owned subsidiary, KPIG Energia Private Limited. This project has been executed for M/s. Mono Steel India Limited in Surat under the ‘Captive Power Producer (CPP)’ division of the company, in compliance with the Gujarat Wind-Solar Hybrid Power Policy 2018.
[ad_2]
Source link