BSE midcap and smallcap indices gained 0.3-0.4 percent
The Indian benchmark indices ended higher in a volatile session. At close, the Sensex was up 160 points or 0.26% at 62,570.68 and the Nifty was up 48.80 points or 0.26% at 18,609.30.
Talbros Automotive | CMP: Rs 527 | The company on December 8 received an order worth Rs 60 crore in the heat-shield business from a leading passenger vehicle OEM in India. “This order is to be executed over a period of next 5 years and will help us increase our domestic market share in the coming years,” the company said in an exchange filing. The counter closed 10 percent higher.
Vadilal Industries | CMP: Rs 2,489 | The company’s board approved the purchase of the “Vadilal” Brand from Vadilal International Private Limited, a promoter entity. The board also approved the sale of certain non-core assets and business of the company to the promoters and a contract manufacturing agreement with them. The stock surged 3.64 percent on December 8.
Bank of India | CMP: Rs 100.90 | Morgan Stanley expects another strong year for banks, given sustained growth and a benign credit cycle. It prefers Bank of India and Bank of Baroda to play the continued strong cyclical tailwinds. The foreign brokerage firm has a target price of Rs 125 on Bank of India. The stock closed 8.6 percent higher.
Macrotech Developers | CMP: Rs 1084.30 | The stock gained 1.67 percent on the news of the company approving a qualified institutional placement (QIP) issue to meet minimum public shareholding. The floor price of the QIP issue has been fixed at Rs 1,022.75 per equity share.
Lumax Industries| CMP: Rs 1945 | The company’s board has approved the setting up of a greenfield project at Pune with a capital outlay of up to Rs 175 crore for Phase 1. The project will cater to new orders for advanced lighting systems from OEM (original equipment manufacturer) clients. “Peak annualised turnover is expected to the tune of Rs 600 crore post commissioning,” said the company. The stock ended 5 percent higher.
VA Tech Wabag | CMP: Rs 340.95 | The company gained 2.8 percent after the appointment of Pankaj Malhan as deputy MD & group CEO with effect from December 7. The company also re-designated Rajiv Mittal as the chairman and MD from the same date.
Greaves Cotton | CMP: Rs 143.25 | The stock gained 1.6 percent after the company said that it will unveil five new products across electric 2 & 3 wheelers at the Auto Expo 2023. “The new products will address EV customer needs in the fast-transforming B2B and B2C space,” a press release said.
Dredging Corporation | CMP: Rs 418.50 | Numaligarh Refinery has awarded Dredging Corporation of India the reclamation dredging contract for the Numaligarh Refinery Crude Oil Import Terminal Plot. The company will be responsible for the transportation and pumping of dredge material from Paradip Port Authority Sand Trap to NRL (COIT) Plot for the year 2022-23. The project has an estimated cost of approximately Rs 60 crore. The stock closed 2.8 percent higher.
Greaves Cotton | CMP: Rs 143.25 | The stock gained 1.6 percent after the company informed that it will unveil 5 new products across electric 2 & 3 wheelers at the Auto Expo 2023. “The new products will address EV customer needs in the fast-transforming B2B and B2C space,” a press release stated.
Dredging Corporation of India | The company on March 17 will sign a contract with Cochin Shipyard for construction of 12,000 cubic meter hopper capacity trailer suction hopper dredger for euro 104 million under Make in India program. The construction period is about three years.