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POST-MARKET REPORT
The Indian benchmark indices ignored the fall in WPI and erased some of the previous session gains to end lower on December 16 with Nifty below 24,700 amid selling seen in the IT, metal, oil & gas, and FMCG names, while buying in realty, PSU bank, media restricted further fall.
At close, the Sensex was down 384.55 points or 0.47 percent at 81,748.57, and the Nifty was down 100.05 points or 0.40 percent at 24,668.25.
Titan Company, TCS, Hindalco Industries, Adani Ports, and BPCL were among the top losers on the Nifty, while gainers included Dr Reddy’s Labs, IndusInd Bank, Bajaj Finance, Power Grid, and HDFC Life.
Among sectors, the realty index was up 3 percent, the media index rose 1.5 percent and the PSU Bank index gained 0.5 percent, while IT, metal, oil & gas shed 0.5-1 percent.
The broader indices outperformed with BSE Midcap and smallcap indices were up 0.5 percent each.
STOCKS TODAY
Premier Explosives: Shares were locked in a 10 percent upper circuit after the company entered into a Memorandum of Understanding (MOV) with Global Munition, a subsidiary of NIBE Ordnance and Maritime, to set up a joint venture to manufacture defence and aerospace products.
Angel One: Shares tanked 5 percent amid a sharp uptick in volumes. As many as 46 lakh shares changed hands in just 2 sessions, matching the one-month average of 23 lakh shares, Moneycontrol data showed. The company’s net profit surged 39.1 percent on-year to Rs 423.4 crore and revenue went up by 44.5 percent YoY to Rs 1,514.7 crore during this period.
Dixon Technologies: Shares surged 5 percent after the company signed a binding term sheet for setting up a new manufacturing joint venture with Vivo India. Under the agreement, Dixon will hold a majority 51 percent stake in the joint venture, while Vivo India, a subsidiary of global smartphone giant Vivo, will own the remaining 49 percent.
GE Power: Shares surged 3.3 percent after the company received an extension of a Rs 18.27 crore purchase order, awarded by the MP Power Generating Co. The order which is stated to be executed within the next three and a half months, is for the supply of boiler parts at Sanjay Gandhi Power Station.
Gopal Snacks: Shares tanked over 6 percent to trade in the red for the third consecutive session on December 16 as the company announced a temporary cessation of operations due to a fire incident at its manufacturing facility in Rajkot. As many as 14 fire tenders were pressed into service after the fire started at the Gopal Snacks factory in Metoda industrial area around 2 pm on December 11.
India Pesticides: Shares slipped as much as 3 percent on December 16 after the income tax (IT) department searched its registered office & other premises of the company, the company said in a regulatory filing on the afternoon. The counter fell for a third trading session in a row.