February 29, 2024

January 11, 2024 / 04:35 PM IST

The Indian fairness benchmarks closed in inexperienced on January 11, Sensex was up 0.08 p.c at 71,721.18, and the Nifty was up 0.13 p.c at 21,647.20. 

Polycab India Ltd | CMP Rs. 3878.45 | Shares of Polycab fell 21 p.c on January 11 following the revenue tax division’s announcement of discovering “unaccounted money gross sales” of about Rs 1,000 crore throughout searches of the corporate’s premises. The inventory has been in a downtrend, plunging greater than 27 p.c within the final 5 periods. A respite is unlikely with the inventory exhibiting weak point as indicated by technical charts and open curiosity information.

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Simple Journey Planners Ltd | CMP Rs. 51.80 | Shares of Simple Journey Planners, which operates the net journey portal EaseMyTrip, jumped greater than 17 p.c on January 11, persevering with the uptrend that adopted the Maldives row. The Maldivian tourism physique has known as on EaseMyTrip to re-open flight bookings on its platform to the island nation at the same time as the web site gives reductions for journey inside India. The Delhi-based journey aggregator suspended all flight reserving to Maldives following the disparaging remarks made by now-suspended Maldivian ministers towards India and Prime Minister Narendra Modi following his go to to Lakshadweep.

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Hero Motocorp Ltd | CMP Rs. 4342.20 | Shares of Hero Motocorp Restricted surged 5 p.c on January 11 after CNBC TV-18 reported that the two-wheeler main is about to enter the 440 cc section by launching a variety of merchandise on January 23. “Maverick shall be Hero’s entry into the 440cc section for India and world markets and shall be rolled out commercially within the coming months,” CNBC TV-18 mentioned citing sources.

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Community 18 Media & Investments Ltd | CMP Rs. 130.95 | Shares of Community 18 Media & Investments surged practically 10 p.c on January 11, after being locked in a 20 p.c higher circuit within the earlier buying and selling session. Round 1.3 crore shares, representing a 1.3 p.c fairness, modified palms on January 10 in a Rs 155.50-crore deal. Moneycontrol couldn’t instantly establish the consumers and sellers concerned within the transaction. One other massive deal occurred in subsidiary TV18 Broadcast on the identical day. Round 1.2 crore shares of TV18 Broadcast, making up 0.7 p.c fairness, modified palms within the transaction value Rs 78 crore.

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Shriram Finance Ltd | CMP Rs. 2279.75 | Shriram Finance shares gained 6 p.c on January 11 after Goldman Sachs upgraded its score on the inventory to Purchase from Impartial and raised earnings estimates. The worldwide agency has raised earnings estimates by 10 p.c and 13 p.c for FY25 and FY26, respectively. It has elevated the goal worth by 43 p.c to Rs 2,758 from Rs 1,926.

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Ajmera Realty and Infra India Ltd | CMP Rs. 505.20 | Shares of Ajmera Realty and Infra India soared practically 7 p.c on January 11 morning after the corporate recorded a pointy leap in gross sales worth for the October-December quarter. The corporate’s gross sales worth rose 98 p.c on 12 months to Rs 253 crore within the third quarter whereas collections grew 30 p.c to Rs 151 crore. The realty main attributed the expansion in gross sales worth to sustained curiosity in its key initiatives, Ajmera Manhattan and Ajmera Eden in Mumbai in addition to its initiatives in Bengaluru regardless of restricted stock.

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Kalyani Steels Ltd | CMP Rs. 596.00 | Shares of Kalyani Steels Restricted surged practically 15 p.c on January 11 after the corporate introduced it has emerged because the profitable bidder for the acquisition of belongings belonging to Kamineni Metal & Energy India Personal Ltd. “The corporate has been declared as a profitable bidder for the acquisition of belongings of Kamineni Metal & Energy India Personal Restricted underneath the invitation for the sale of Property by way of the e-auction platform, underneath Insolvency and Chapter Code, 2016,” it mentioned in a regulatory submitting on January 10.

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Shiva Cement Ltd | CMP Rs. 58.99 | Shares of Shiva Cement soared 14 p.c on January 11 amid stories of its mum or dad firm, JSW Cement’s plans for a mega Rs 6,000-crore preliminary public providing. Moneycontrol was the primary to report citing a number of sources on January 10, that the JSW Group has roped in funding bankers to facilitate the preliminary public providing of its group firm JSW Cement. “As of now, the goal is to boost as much as Rs 6,000 crore, mop up progress capital and fund the corporate’s aggressive growth plans,” one of many sources mentioned. The supply additionally added {that a} remaining determination on the scale of the share sale had not been made but.

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Unichem Laboratories Ltd | CMP Rs. 469.80 | The Unichem Laboratories share surged 5 p.c on January 11 after the corporate obtained the US Meals and Drug Administration’s nod for the generic model of a hypertension drug. The product shall be commercialised from the corporate’s Goa plant.

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Wardwizard Improvements & Mobility Ltd | CMP Rs. 82.91 | The shares of Wardwizard Improvements & Mobility surged 15 p.c on January 11. The shares noticed a worth quantity breakout with a spurt in quantity of 1.96 instances on BSE, additionally pushing the inventory to its contemporary 52-week excessive. Lately the corporate introduced on bourses the revealing of its 6 Idea Fashions of Electrical Autos on the tenth Version of Vibrant Gujarat World Summit.

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Axiscades Applied sciences Ltd | CMP Rs. 809.25 | Shares of Axiscades Applied sciences jumped practically 5 p.c on January 11 after the corporate launched a professional institutional placement (QIP) challenge to boost as much as Rs 300 crore, with a base dimension of Rs 220 crore and an upsize possibility of Rs 80 crore. The indicative challenge worth is about at Rs 662 per share, implying a reduction of 14.42 p.c to the final closing worth. The fairness dilution is projected to be 11.78 p.c of the fairness capital.