On another day of highs, the Sensex zoomed 803.14 points to 64,718.56 and the Nifty rallied 216.90 points to end at 19,189. About 1,894 shares advanced, 1,522 declined and 124 remained unchanged
The Indian equity benchmarks scaled new highs on June 30, powered by auto and information technology stocks. The Sensex was up 1.26 percent at 64,718.56 and the Nifty was up 1.14 percent at 19,189.00. About 1,894 shares advanced, 1,522 declined, and 124 remained unchanged.
HDFC Asset Management Company Ltd. | CMP Rs 2295.65 | Shares of HDFC AMC surged 12 percent on June 30 after the market regulator deferred its decision to rationalise the total expense ratio (TER), or the expenses that mutual fund (MF) schemes can charge their investors. The Securities and Exchange Board of India was expected to redefine TER by bringing many charges within its limits, a proposal that had AMCs concerned. Analysts had expected a 20-30 percent drop in profits for AMCs if TER proposals were to be accepted by the SEBI Board which met on June 28.
Adani Transmission Ltd. | CMP Rs 767.25 | Shares of Adani Transmission slumped over 6 percent on June 30 after a 3.45 percent stake in the company changed hands in a large deal on the exchanges. The total transaction was worth Rs 3,103 crore. The large deal in Adani Transmission comes after similar stake sales took place in two other group companies – Adani Enterprises and Adani Green Energy on June 28.
Mahindra and Mahindra Ltd. | CMP Rs 1,453.60 | Mahindra and Mahindra Ltd (M&M) shares gained over 4 percent on June 30, a day after becoming the first company to receive the eligibility certificate under the production-linked incentive (PLI) scheme for automobiles. This will enable the company to avail subsidies from the government under the Rs 25,938-crore scheme, aimed at boosting domestic production, job creation, and driving economic growth. The stock also reached a 52-week high of Rs 1,461 during the day.
IndusInd Bank Ltd. | CMP Rs 1374.65 | Shares of IndusInd Bank jumped 3 percent on June 30 after the company made key appointments at the top management level.
Suzlon Energy Ltd. | CMP Rs 15.30 | Shares of Suzlon Energy gained nearly 4 percent on June 30, extending the rise for the fourth session in a row as sentiment for the stock ran high after positive earnings and large orders. The stock is trading at a five-year high, with a 43 percent 6-month return and 143.24 percent annual return. India has updated its wind energy policy by discontinuing reverse auctions and introducing wind-specific renewables purchase obligations (RPOs). As part of these changes, the country plans to auction 10GW of wind energy per year. These policy initiatives are expected to greatly benefit the industry.
CreditAccess Grameen Ltd. | CMP Rs 1247.65 | Shares of CreditAccess Grameen plunged nearly 6 percent following large deals. Around one crore shares, or a 6.5 percent stake, worth Rs 1,277 crore changed hands on the exchanges. The base price for the block deal was likely to be Rs 1,230 a share. The slide came after the stock notched up over 12 percent gains in the previous 10 sessions. The company recently signed a $200-million external commercial borrowing (ECB) agreement, hailed as a milestone. This deal represents the first social ECB loan in the microfinance industry in the country and the fourth to originate from India.
Godawari Power & Ispat Ltd. | CMP Rs 528.55 | Shares of Godawari Power gained over 5 percent following the exchange of 2.4 percent equity, worth Rs 174 crore, on the bourses. The company’s consolidated revenue from operations declined to Rs 1,316.59 crore from Rs 1,437.93 crore in the year-ago quarter last year. Profit from continuing operations came in at Rs 169.57 crore in the March quarter, down from Rs 406.52 crore in the year-ago period, the company said on May 20.
TD Power Systems Ltd. | CMP Rs 247.10 | Shares of TD Power Systems surged nearly 11 percent on June 30 following large deals on the bourses. Around a 24 percent stake, worth Rs 830.96 crore changed hands on the exchanges. The transaction was done at an average price of Rs 221 per share, a discount of 1 percent from the closing price of Rs 223.20 on June 28. The stock has notched over 88 percent gains in the year so far, due to the rising demand for ACs in the peak summer months in India.
Advanced Enzyme Technologies Ltd. | CMP Rs 279.40 | Shares of Advanced Enzyme Technologies (AET) jumped over 3 percent after ICICI Mutual Fund picked up 0.89 percent of the 2.28 percent stake sold by promoter entity Advanced Vital Enzymes Private Ltd. Advanced Vital Enzymes sold 2,550,674 shares at Rs 270.08 apiece. ICICI Mutual Fund bought 1,000,000 shares at Rs 270 apiece.
Amrutanjan Health Care Ltd. | CMP Rs 738.25 | Share price of Amrutanjan Healthcare spiked over 10 percent on June 30, a day after the company announced a buyback of 3.2 lakh equity shares at an offer price of Rs 900, up 35 percent from the previous close of Rs 667.90. The buyback will be done through the tender route and July 13 has been fixed as the record date.