Newsmakers: Minda Industries, L&T Finance Holdings, Gateway Distriparks among top 10 stocks that moved most on December 24
The Indian markets ended the last session of this week in the red, snapping a three-day surge on Christmas eve. Both the Sensex and Nifty50 recovered from day’s low, as the former closed nearly 200 points and the latter closed above the 17000-mark, dragged by banking and financial stocks.
The Indian markets ended the last session of this week in the red, snapping a three-day surge on Christmas eve. Both the Sensex and Nifty50 recovered from day’s low, as the former closed nearly 200 points and the latter closed above the 17000-mark, dragged by banking and financial stocks. At the market close, the BSE Sensex is down 191 points or 0.33 per cent to 57124, while the Nifty50 down around 69 points or 0.4 per cent to 17003-level. Even the broader markets witnessed weakness as mid-cap slipped over 1 per cent, and small-cap nearly half a per cent at the market close.
Here is a list of 10 buzzing stocks to watch out for:
Mindteck: Up 4.99%
The shares of the company closed in the green at Rs 167.45 with a gain of 4.98 per cent as per BSE. As per NSE, the shares of the company closed in the green at Rs 167.35 with a gain of 4.99 per cent. The company wins another project from an Analytical Instrument Client. The project encompasses the optimization of application module software as an external module of instrument control and workflow module software.
(Pic: https://www.mindteck.com/)
L&T Finance Holdings: Down 0.98%
The shares of the company closed in the red at Rs 1859.10 with a fall of 0.96 per cent as per BSE. As per NSE, the shares of the company closed in the red at Rs 1,860.00 with a fall of 0.98% per cent. L&T Finance Holdings Limited (LTFH) and HSBC Asset Management (India) Private Limited (HSBC AMC) on Thursday entered into a definitive agreement whereby HSBC AMC shall acquire 100% equity shares of L&T Investment Management Limited (“LTIM”), a wholly-owned subsidiary of LTFH, which is the investment manager of L&T Mutual Fund, for an aggregate purchase consideration of USD 425 million (Rs 3,200 crore). In addition, LTFH will also be entitled to excess cash in LTIM until the completion of the acquisition. The divestment of Mutual Fund business is in line with the strategic objective of L&T Finance Holdings of unlocking value from its subsidiaries to strengthen its balance sheet. Kotak says the valuation at which they sold AMC was much below the estimates.
(PIc: https://www.ltfs.com/)
Minda Industries: Up 1.94%
The shares of the company closed in the green at Rs 1,185.25 with a gain of 1.90 per cent as per BSE. As per NSE, the shares of the company closed in green at Rs 1,190.00 with a gain of 1.94 per cent.
At the beginning of this month, Minda Industries signed a joint venture agreement with Germany-based `FRIWO AG` to further accelerate its electric vehicle products initiatives, to combine their manufacturing prowess and technical expertise to manufacture and supply various electric vehicle components in the Indian subcontinent. Minda Industries will hold a majority stake of 50.1 percent in the joint venture entity.
(Pic: https://www.unominda.com/)
Indian Metals & Ferro Alloys: Up 1.44%
The shares of the company closed in the green at Rs 893.70 with a gain of 1.05 per cent as per BSE. As per NSE, the shares of the company closed in green at Rs 895.60 with a gain of 1.44 per cent. The company has prepaid the term debt of Rs 181 crore as on date and after payment of normal instalments for the quarter ending December 31, 2021. With this, the company's Long-term debt will reduce to Rs 143.94 crore and it will become net debt-free.
(Pic: http://www.imfa.in/)
Mahindra Lifespace: Down 4.42%
The shares of the company closed in the red at Rs 226.35 with a fall of 4.09 per cent as per BSE. As per NSE, the shares of the company closed in red at Rs 226.00 with a fall of 4.42 per cent.
Mahindra Homes Private Ltd (MHPL), a joint venture company of Mahindra Lifespace Developers Ltd and Actis Mahi Holding (Singapore) Private Limited (‘Actis’), approved buyback of 37,800 Series B and Series C equity shares at Rs 29,129 per equity share aggregating to Rs 110.10 crore. Series B and Series C equity shares carry economic rights as per the Shareholders Agreement (SHA) executed between the Company, Actis and MHPL and are fully held by Actis and the Company, respectively. Basis the overall paid-up share capital of MHPL comprising Series A (carrying no dividend or economic rights), Series B and Series C equity shares, the Company holds 71.61% and Actis holds 28.89% in MHPL. As per the SHA, the buyback offer is the basis of economic interest in the ratio of 50:50 between the Company and Actis i.e. 18,900 equity shares each from Series B and Series C equity shares.
(Pic: https://www.mahindralifespaces.com)
Lupin: Down 1.19%
The shares of the company closed in the red at Rs 897.15 with a fall of 1.66 per cent as per BSE. As per NSE, the shares of the company closed in red at Rs 896.00 with a fall of 1.80 per cent. The pharma major today announced that it has received tentative approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Azilsartan Medoxomil Tablets, 40 mg, and 80 mg to market a generic equivalent of Edarbi Tablets, 40 mg, and 80 mg, of Arbor Pharmaceuticals, LW. This product will be manufactured at Lupin's Nagpur facility in India. Azilsartan Medoxomil Tablets (RLD: Edarbi Tablets) had estimated annual sales of USD 103.4 million in the U.S. (IQVIA MAT September 2021).
(Pic: https://www.lupin.com/)
Gateway Distriparks Ltd : Up 1.75%
The shares of the company closed in the green at Rs 293.00 with a gain of 1.38 per cent as per BSE. As per NSE, the shares of the company closed in the green at Rs 293.95 with a gain of 1.75 per cent. LIC has sold 2.078% stakes of the company between June 15, 2018, and December 22, 2021.
(Pic: https://www.gateway-distriparks.com/)
Ajanta Pharma: Up 3.09%
The shares of the company closed in the green at Rs 2,122.00 with a gain of 3.09 per cent as per BSE. As per NSE, the shares of the company closed in the green at Rs 2,123.00 with a gain of 3.17 per cent.The Board of Directors of the Company is scheduled to meet on December 28, 2021, to consider and approve a proposal for buy-back of equity shares including matters related /incidental thereto.
(Pic: http://www.ajantapharma.com/)
United Breweries: Down 1.58%
The shares of the company closed in the red at Rs 1,566.55 with a fall of 1.37 per cent as per BSE. As per NSE, the shares of the company closed in the red at Rs 1,565.00 with a fall of 1.58 per cent. The National Company Law Appellate Tribunal (NCLAT) has stayed the Competition Commission of India's (CCI's) order imposing a penalty of Rs 751.83 crore on the company. NCLAT has STAYED the Order passed by the CCI upon a condition of pre-deposit of 10% of the penalty amount imposed on the company. The company will comply with the directions and the said 10% amount shall be deposited through a fixed deposit receipt within stipulated time as mentioned in the Order. CCI passed an order imposing a penalty on United Breweries on September 24, 2021.
(Pic: https://www.unitedbreweries.com/)
Biocon: Down 5.33%
The shares of the company closed in the red at Rs 354.45 with a fall of 5.33 per cent as per BSE. As per NSE, the shares of the company closed in the red at Rs 354.55 with a fall of 5.29 per cent.
Biocon Biologics Ltd., a subsidiary of Biocon Ltd., on Thursday announced that US-based Equillium Inc., Biocon’s partner, has expanded its EQUALISE study in Systemic Lupus Erythematosus (SLE) and Lupus Nephritis for Itolizumab (ALZUMAb-L*) to clinical centres in India. EQUALISE is a Phase 1b open-label, proof-of-concept clinical study currently studying Lupus Nephritis patients in the Part B portion of the clinical trial. Equillium has initiated this study across several tertiary hospitals specialising to deal with Lupus Nephritis patients in India after obtaining approval from the Drugs Controller General of India (DCGI).
(Pic: https://www.biocon.com/)