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POST-MARKET REPORT
The Benchmark indices snapped a five-day losing streak and bounced back on December 23, with the Nifty closing around 23,750 led by realty, banking, and metal names.
At close, the Sensex was up 498.58 points or 0.64 percent at 78,540.17, and the Nifty was up 165.95 points or 0.70 percent at 23,753.45.
The biggest Nifty gainers included JSW Steel, ITC, Hindalco Industries, IndusInd Bank, and Trent, while losers included Hero MotoCorp, Maruti Suzuki, Nestle India, HCL Technologies, and Bajaj Finserv.
Among sectors, banks, FMCG, metal, oil & gas, energy, and realty were up 0.5-1 percent, while the media index shed 0.4 percent.
The BSE midcap index was up marginally, while smallcap index was down 0.6 percent.
STOCKS TODAY
India Cements: India Cements’ share price surged after the Competition Commission of India (CCI) cleared over Rs 7,000-crore deal. The CCI cleared the deal on December 20, wherein billionaire Kumar Mangalam Birla-promoted UltraTech Cement will acquire a majority stake in India Cements Ltd.
JBM Auto: Shares of JBM Auto Limited surged 5 percent to Rs 1,720 after JBM Ecolife Mobility, a subsidiary of the company, was awarded the contracts as a bus operator for the procurement, operation, and maintenance of 343 electric buses in Ahmedabad.
InterGlobe Aviation: Indigo shares rose after brokerage firm Elara Capital upgraded its rating on parent InterGlobe Aviation, raising it to a ‘buy’ from the earlier ‘sell’ call. The brokerage cited expectations of strong demand growth through FY28, driven by capacity expansion at major airports, launches of new airports, and the return of the P&W aircraft to IndiGo’s fleet as key factors behind its upgrade.
Sterling and Wilson Renewable Energy: Sterling and Wilson Renewable Energy shares jumped close after the company announced bagging a domestic order worth nearly Rs 1,200 crore. The company has secured an order for the Design, Engineering, Procurement, and Construction (EPC) for a 500 MW Solar project in Gujarat.
Hindustan Construction Company: Hindustan Construction Company Ltd (HCC) shares tumbled after the construction player announced it divested its stake in Steiner AG. HCC’s stake in Steiner AG was sold so that the firm could focus on its core EPC operations in India.
New India Assurance: Insurance stocks were trading in the red as GST Council deferred a decision on relief for life, and health insurance premiums during its meeting on December 21 since it required more time to arrive at a consensus. Presently, premiums paid on life and medical insurance largely attract a GST rate of 18%. This led to a decline in the share prices of the insurance stocks.