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POST-MARKET REPORT
Indian indices ended flat with positive bias in rangebound trading on August 23, as investors remained cautious ahead of Fed Chair Powell’s comments at Jackson Hole tonight, which will signal the timing, size, and pace of interest-rate cuts in the US.
At close, the Sensex was up 33.02 points or 0.04 percent at 81,086.21, and the Nifty was up 11.65 points or 0.05 percent at 24,823.15. BSE Sensex rose 0.9 percent for the week and Nifty50 rose 1 percent.
Among sectors, the auto index was up 1 percent, while metal, realty, media, PSU Bank, and IT were down 0.5-2.5 percent.
Top gainers on the Nifty were Bajaj Auto, Coal India, Tata Motors, Sun Pharma, and Bharti Airtel, while losers included Wipro, ONGC, Divis Labs, LTIMindtree and Infosys.
BSE Midcap index was down 0.6 percent, while the smallcap index ended flat.
STOCKS TODAY
PCBL: Shares of the specialty chemicals firm surged nearly 11 percent to hit a fresh record high after the company’s investor presentation emphasized significant growth opportunities, highlighting the global scenario favouring the growth of India’s rubber black industry.
Power Mech Projects: The stock zoomed over 8 percent after the board of the firm announced a bonus issue in the ratio of 1:1. This implies that one free share will be issued for every equity share of Rs 10 each fully paid up subject to the approval of shareholders at the upcoming 25th AGM.
Reliance Power: Shares of Reliance Power fell 5 percent after the market regulator banned promoter Anil Ambani from the securities market for five years. The ban on Ambani and 24 other entities, including former key officials of Reliance Home Finance, was imposed for allegedly diverting funds from the company.
FSN E-Commerce: Around 4.09 crore shares, making up a 1.43 percent stake in Nykaa parent, FSN E-commerce changed hands in a block deal on August 23, with the company’s pre-IPO investor Harindarpal Singh Banga being the likely seller. After the block deals, shares of the beauty and personal care platform surged nearly 8 percent.
TVS Motor Company: Shares rose over 2 percent after UBS maintained its Buy call on the stock and raised the target price to Rs 3,200 from Rs 3,000 following the launch of the all-new Jupiter 110 scooter.
Jain Irrigation Systems: Shares rose 11 percent after the company signed an MoU with the Coffee Board of India for the commercial release of advanced high-quality, disease-resistant coffee plants to growers.