May 24, 2024

December 28, 2023 / 04:40 PM IST

The Indian fairness benchmarks closed in inexperienced on December 28, Sensex was up 0.52 p.c at 72410.38, and the Nifty was up 0.57 p.c at 21778.70. About 1,736 shares superior, 1,921 shares declined and 116 shares remained unchanged.

Zomato Ltd | CMP Rs 123.20 | Zomato shares ended 3 p.c decrease on December 28 after the meals supply aggregator acquired a Rs 402-crore show-cause discover from the products and providers tax (GST) authorities over unpaid dues. The tax quantity alleged within the discover is predicated on the sum collected by the corporate as ‘supply fees’ from clients on behalf of the supply companions. The show-cause pertains to an alleged tax legal responsibility price Rs 401.7 crore together with curiosity and penalty for the interval between October 29, 2019, and March 31, 2022. The tax demand has been made underneath Part 74 (1) of the Central Items and Companies Tax Act, 2017. The inventory has risen practically 10 p.c within the final month.

Gainers & Losers

Coal India Ltd | CMP Rs 380.95 | Shares of Coal India surged 4 p.c on December 28 after brokerage agency Motilal Oswal reiterated its ‘purchase’ ranking on the inventory with a goal value of Rs 430 (premised on 5x FY26e EV/EBITDA). The brokerage mentioned, “We consider COAL is effectively positioned to capitalize on the expansion alternative”. As per the report, COAL is ramping up manufacturing to fulfill rising energy sector demand, concentrating on 780mt in FY24 and 850mt in FY25. E-auctions, constituting about 10 p.c of gross sales, are seeing premiums spike to 80-100% resulting from elevated demand and world costs. COAL’s substantial capex hike to INR186b in FY23 focuses on enhancing infrastructure. Round INR165b is earmarked for FY24 throughout numerous areas like railways, land acquisition, and equipment, with already INR105b spent by Nov’23, surpassing yearly targets.

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Azad Engineering Ltd | CMP Rs 677.50 | Sachin Tendulkar-backed Azad Engineering made a powerful debut on bourses on December 28, ending with a 30 p.c premium to its difficulty value of Rs 524. The robust itemizing comes from the curiosity proven by traders within the Rs 740-crore public difficulty. Certified institutional patrons took the lead, shopping for 179.66 instances the allotted quota. On the similar time, excessive networth people (non-institutional traders) and retail traders picked shares 87.55 instances and 23.71 instances the parts put aside for them.

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Hindustan Petroleum Company Ltd | CMP Rs 417.65 | Shares of Hindustan Petroleum surged over 9 p.c on December 28 as crude oil costs slid under $80 a barrel. The decrease enter price will support within the widening of margins for Oil Advertising and marketing Corporations (OMCs). Oil costs dropped as traders monitored developments within the Pink Sea, the place shippers returned after the US and the UK Navy began patrolling to keep at bay assaults by the Houthi rebels. With a drop in crude costs within the latter a part of the yr, OMCs have already up by fairly a bit with HPCL reporting an 82 p.c achieve.

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Sula Vineyards Ltd | CMP Rs 497.90 | Shares of Sula Vineyards Restricted traded practically 5 p.c larger on December 28 after the corporate introduced that its wine tourism enterprise acquired over 5,000 clients on Christmas Eve, marking an all-time excessive. Through the festive weekend from December 23 to 25, there was a notable improve within the variety of guests, setting data for single-day, two-day, and three-day attendance. Over 12,000 people explored Sula’s wine tourism services in Nashik and Bengaluru throughout this era. For the reason that begin of the yr, the inventory has gained over 45 p.c on the bourses.

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Lupin Ltd | CMP Rs 1,339.95 | Lupin share value gained 4 p.c on December 28 after the corporate acquired the USA Meals and Drug Administration (USFDA) approval for Loteprednol Etabonate Ophthalmic Suspension. This drug is a generic equal to the reference listed drug (RLD) Alrex Ophthalmic Suspension, 0.2 p.c, of Bausch & Lomb Inc. The product will probably be manufactured at Lupin’s Pithampur facility in India. Avendus Spark, a analysis home, has just lately upgraded the inventory ranking to ‘purchase’ with a goal of Rs 1,440 per share.

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Housing & City Improvement Company Ltd | CMP Rs 128.00 | Shares of Housing & City Improvement Company (Hudco) surged 12 p.c on December 28 on signing a Memorandum of Understanding (MoU) with the State Authorities of Gujarat. The MoU for an funding of as much as Rs 14,500 crore for financing the housing and concrete infrastructure tasks within the western state. The inventory additionally hit a recent document excessive of Rs 136.80 on the identical day. The inventory has rallied 144 p.c to date this yr, massively outperforming the benchmark Nifty 50 which has risen over 19 p.c throughout this era.

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KP Power Ltd | CMP Rs 653.60 | The share value of KP Power was locked at 5 p.c higher circuit on December 28 on the information that the corporate’s board would think about bonus shares at its assembly on December 30. The board may also think about and approve a rise within the authorised share capital of the corporate to accommodate the problem of bonus fairness shares, if any. The corporate’s board will think about and approve the appointment (regularisation) of Dukhabandhu Rath as non-executive impartial director of the corporate and the appointment of Amitkumar Subhashchandra Khandelwal as whole-time director of the corporate. Final week, KP Group acquired a provide order for wind generators of 193.2 MW to Suzlon Power, which includes 92 wind generators of the S120-140-HLT mannequin, with a rated capability of two.1 MW every, to be provided by Suzlon.

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Man Industries (India) Ltd | CMP Rs 266.75 | The share value of Man Industries (India) zoomed 5 p.c on December 28 after the corporate introduced the profitable testing of its pipes for secure hydrogen transport. The testing has been carried out by a number one European analysis centre for hydrogen transport, making certain structural integrity and security for the gasoline, the corporate mentioned This accomplishment marks a essential milestone in addressing a significant hurdle within the shift to a hydrogen-based ecosystem i.e. effectively delivering hydrogen fuel to the purpose of use. Through the quarter ended September 2023, Man Industries (India) recorded an 867 p.c bounce in its internet revenue at Rs 39 crore. In October, the corporate secured orders of round Rs 400 crore from a home buyer for numerous kinds of pipes.

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KEI Industries Ltd | CMP Rs 3286.70 | Shares of KEI Industries surged 5 p.c on December 28 after analysis agency Sharekhan launched its bullish report on the inventory with a retained ‘purchase’ ranking and revised goal value of Rs 3600. The bullish stance comes on the again of a powerful earnings outlook proven by KEI’s larger PE multiples amidst tailwinds from the facility sector. As per the report, authorities infrastructure spending in energy and core sectors, coupled with capability enlargement, will gasoline KEI’s 15-16 p.c income development. By FY2026, new greenfield capability might yield Rs. 4,500 crore, whereas export development through the “China +1” coverage and developed markets will improve KEI’s enlargement.