Domestic stock markets recouped the losses of an initial trading hour and were trading in the positive zone on Thursday’s noon deals amid gains in index heavyweights RIL and IT stocks. At 1:00 pm, the S&P BSE was trading 18.27 points or 0.03% up at 55,962.48 while Nifty 50 was trading 4.60 points or 0.03 per cent up at 16,639.25. Meanwhile, certain stocks were in action in either direction based on reports linked to them. Here is a list of few such stocks:

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Stocks in News

•                 Intellect Design: Up 1.85%. It has announced a significant deal win with a leading Islamic bank in APAC to completely digitize and streamline its cash and trade transaction banking technology offerings.

•                 Carborundum Universal: Up 3.25%. The company has agreed to make a strategic investment in PLUSS advanced Technologies Private Limited. The acquisition cost is Rs 115 crore. 

•                 Procter & Gamble Hygiene and Healthcare Ltd.: Up 2.20%. The pharmaceutical company has reported a 29% YoY drop in consolidated profit at Rs 49 crore for the fourth quarter ended June 20, 2021, (Q4FY21) as against a profit of Rs 69 crore posted in the year-ago quarter. The company follows June ending financial year. Sequentially, the profit declined 50% from Rs 98.3 crore posted in the previous quarter ended March 31, 2021. Its revenue on a consolidated basis grew 24% YoY to Rs 787 crore as against Rs 634.5 crore posted last year. Sequentially, the revenue grew 3.6% from Rs 760 crore posted in the previous quarter. EBITDA dropped 31.7% YoY to Rs 75,3 crore as against Rs 110.2 crore posted last year and sequentially it dropped 41.8% from Rs 129.3 crore posted in the previous quarter. Margin contracted to 9.6% in Q4FY21 as against 17.4% posted in Q4FY20 and 17% posted in Q3FY21. 

•                 Bank of India: Up 1%. New Delhi: State-owned Bank of India on Wednesday approved the launch of QIP, aimed at raising Rs 3,000 crore equity capital to fund business growth and meet regulatory compliance. The lender has set the floor price for the qualified institutional placement (QIP) at Rs 66.19 per equity share, at a premium of 1.9% over Wednesday’s closing price of Rs 64.95 per share. The next meeting of the capital issue committee of the bank will be held on August 30 to consider and determine the issue price of shares to be allotted under the QIP.

•                 Wabco India: Down 0.21%. The company’s offer for sale (OFS) which opened yesterday has opened for the retail investors today. The floor price for the OFS is Rs 6,900 per equity share, a 3.8% discount to Wabco India's closing price of Rs 7,175 on Tuesday, August 24, 2021, at NSE. The company’s promoter ZF International UK Limited has proposed to sell 2% stakes (3,80,432 equity shares) through the offer for sale. The non-retail portion of the offer was subscribed 2.33 times on Wednesday. 

•                 Ujjivan Small Finance Bank: Down 2.37%. The board of the bank has approved the appointment of Ms. Carol Furtado as an Officer on Special Duty (“OSD”) of the Bank with effect from August 26, 2021, due to the resignation of Mr. Nitin Chugh, Managing Director and CEO of the Bank. Her appointment is subject to her resignation as the Chief Executive Officer of Ujjivan Financial Services Limited. She will be leading the charge of handling the day-to-day operations of the Bank from August 26, 2021, and will be serving the Bank as ‘OSD’ until outgoing MD & CEO, Mr. Nitin Chugh is in office. She has been authorized to exercise such powers and perform such functions on behalf of the Bank which was granted and was being exercised by Mr. Nitin Chugh in his capacity as Managing Director and CEO of the Bank. Post-September 30, 2021, she will take charge as the Interim CEO, subject to RBI approval. Besides, the board has also approved the appointment of Mr. Banavar Anantharamaiah Prabhakar, who is an Additional Director (Independent), as the Part-Time Chairman of the Bank to fill the vacancy caused due to the resignation of Mr. Biswamohan Mahapatra, subject to the prior approval of the Reserve Bank of India (“RBI”). The Bank shall make an application to RBI for its prior approval for the aforesaid appointment, as required under Banking Regulation Act, 1949. 

•                 InterGlobe Aviation (up 1.50%)/Spicejet (down 0.77%): Civil Aviation Minister Jyotiraditya Scindia has written a letter to 22 States/ UTs urging them to rationalize VAT on ATF across all airports in States within the range of 1% to 4%. He has asked them to take forward common intention to boost air travel and connectivity in State to accelerate its economic development. Besides, he also wrote a letter to the Chief Ministers of five states and sought intervention to accelerate the development of airports in their respective states. In the letter, the minister has asked for cooperation in land allocation, fundraising and VGF support from them. Besides, SpiceJet has finalised a settlement with the major lessor of MAX aircraft. Hopes to see its MAX aircraft back in the air soon, subject to regulatory approvals. Ajay Singh says 737 MAXs will be back in the air soon. He expects that with a better and more efficient fleet back in operation we expect a significant reduction in our operating costs improving our bottom line. The airline expects to start operations of MAX aircraft around the end of September 2021 subject to regulatory approvals. 

•                 Bharti Airtel: Down 3.41%. The board of the telecom is meet on August 29, 2021, to consider and approve various capital raising options through equity or equity-linked or debt instruments or any combination thereof, as the Board may deem appropriate. However, the company did not disclose the size of the fund-raise, which comes after it raised $1.25 billion earlier this year.

•                 Infosys: Down 0.03%. The IT company has announced that it will establish a new digital development centre at its largest Canadian office in Mississauga. This is aimed at creating 500 high-quality jobs in the Toronto Region over the next three years.

•                 Max Healthcare: Up 2.73%. The Board of Directors of Max Healthcare Institute Limited on August 25, 2021, approved an additional investment for an amount up to Rs 50 crores by way of subscription towards Rights Issue of equity shares of Alps Hospitals Limited (“Alps”).

•                 Muthoot Finance: Up 0.63%. Belstar Microfinance Limited, a subsidiary of Muthoot Finance Limited, on Wednesday said that it has entered into definitive agreements today with its Promoters, Augusta Investments IV PTE Ltd, Arum Holdings Limited, MAJ Invest Financial Inclusion Fund II K/S, and Muthoot Finance Limited in connection with a proposed primary equity infusion of Rs 350 crores in Belstar Microfinance Limited and secondary offer for sale by Promoters and Muthoot Finance Limited for a total consideration of Rs 20 Crores. The transaction is subject to obtaining required regulatory approvals by Belstar Microfinance Limited. Post-transaction, August Investment IV PTE Ltd will have 4.61% stakes in the company, while Arum Holdings stakes will stand at 13.84%. Promoter & Promoter Group’s stakes will come down from 18.94% to 13.63%. 

•                 Chemplast Sanmar Ltd: Up 1.38%. SBI Mutual Fund bought 3.356% stakes in the company on August 24, 2021. With this purchase, SBI Mutual Fund’s has increased its stakes in the company from 4.895% to 8.25%. In addition, Mirae Asset Mutual Fund has bought 1.87% stakes in the company on August 24, 2021, with which its stakes increased in company from 4.97% to 6.84%. 

•                 Hind Rectifiers: Up 9.59%. Cassini Partners L.P. bought 98,612 shares at Rs 181.9/ Share. 

•                 Jubilant Pharmova: Up 2.44%. Rakesh Jhunjhunwala bought 25 lakh shares at 594.35/share. Rekha Jhunjhunwala Bought 25 Lakh shares at 594.35/share. Rare Enterprises sold 50 lakh shares at 594.35/Shares. 

•                 Great Eastern Shipping: Up 0.47%. ICICI Prudential bought 0.49% stakes in the company on August 23, 2021. 

Promoter Actions

Spencers Retail: Up 0.96%. Promoter’s stake has increased in the company from 54.7% to 56.51% through rights issues. 74.26 lakh shares were allotted in the rights issue that was done on August 25, 2021. 

Sudarshan Chemical: Down 0.91%. Promoter offloaded 1.42% stakes in the company. 

Olectra Greentech Ltd: Down 0.91%. Down 0.91%. Promoter offloads 1.31% stakes in the company on August 23, 2021. 

LG Balakrishnan & Bros Ltd: Up 1.14%. Promoter has sold 0.55% stakes in the company between August 20-24, 2021. 

Fund Action 

DLF: Up 0.33%. CRISIL has upgraded its ratings on the Bank facilities of DLF Limited. It has upgraded the long-term rating for bank loan facilities of the company to CRISIL AA-/Stable from CRISIL A+/Stable. The short-term rating has been upgraded to CRISIL A1 + from CRISIL A1. 

Manali Petrochemical: Up 1.87%. CARE Ratings has upgraded the credit rating for the short-term and long-term banking facilities for the Company. The long-term bank facilities have been upgraded to CARE A+ from CARE A, while the short-term bank facilities were upgraded to CARE A1+ from CARE A1. 

Buzzing Stocks

•                 3I Infotech: Up 4.55%. 

•                 Likhita Infrastructure: Up 11.13%. 

•                 Sterling & Wilson Solar: Up 6.44%.

•                 Nazara Technologies: Up 5.58%. 

•                 Zydus Wellness: Up 3.81%. 

•                 JSW Energy: Up 4.99%. 

•                 Igarashi Motors: Up 6.53%.

•                 Capacite Infraprojects: Up 6.07%. 

•                 Balaji Amines: Up 5.98%. 

•                 Venky’s: Up 1.73%. 

•                 Thermax: Up 1.90%. 

•                 Greenlam Industries: Up 1.67%. Gained 6% in the last five sessions. 

•                 BSE Ltd.: Up 1.88%.

•                 Abbott India: Up 1.59%.  

•                 BASF: Up 1.25%. 

•                 Godrej Consumers: Up 1.84%. 

•                 Tea & Coffee Stocks: Moving up. Stocks like Harrison Malayalam – up 6.40%; McLeod Russel – up 4.94%; Jayshree Tea – up 0.51% were trading higher.

•                 Defense Sector Stocks: Moving up. Stocks like Bharat Dynamics – up 1.74%; HAL – up 1.35% were trading higher. 

•                 Retail Stocks: Moving up. Stocks like Shoppers Stop – up 4.79%; Trent – up 1.28%; AB Fashion – up 1.29%; Spencers Retail – up 1.01% were trading higher. 

•                 Oil & Gas Stocks: Moving up. Stocks like RIL – up 1.18%; Oil India – up 0.77%; Adani Gas – up 5% were trading higher.

•                 Railways Stocks: Moving up. Titagarh Wagons – up 3.41%; Walchandnagar – up 1.17%; RVNL – up 0.54%; Astra Microwave – up 1.42% were trading higher. 

Stocks at Life Highs

HUL: Up 0.75%. Meanwhile, the stock hit the life high of Rs 2,697.80 earlier in the intraday trade today.

HAL: Up 1.35%. Meanwhile, the stock hit the life high of Rs 1,290 earlier in the intraday trade today. 

Avenue Supermarts: Up 1.99%. Meanwhile, the stock hit the life high of Rs 3,889.80 earlier in the intraday trade today. The market cap is above Rs 2.5 lakh crore.