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POST-MARKET REPORT
Indian benchmark indices ended higher in a volatile session on June 24, with the Nifty managing to hold above 23,500 helped by auto, capital goods, power, and FMCG names.
At close, the Sensex was up 131.18 points or 0.17 percent at 77,341.08, and the Nifty was up 36.75 points or 0.16 percent at 23,537.85.
Top Nifty gainers included M&M, Shriram Finance, Power Grid Corporation, Sun Pharma, and Grasim Industries, while losers were Cipla, IndusInd Bank, Adani Ports, Coal India, and Tata Steel.
Among sectors, capital goods, auto, FMCG, telecom, and power indices were up 0.5-1 percent, while metal, oil & gas, PSU Bank, and media fell 0.5-1 percent.
The BSE midcap and Smallcap indices added 0.3 percent each.
STOCKS TODAY
TBO Tek: Shares jumped 7 percent to hit a fresh 52-week high after Goldman Sachs initiated coverage with a buy call. The brokerage issued a buy call, with a target price of Rs 1,970 per share, foreseeing a 24 percent upside from current levels.
Mazagon Dock: Shares surged by 4 percent following advanced talks on acquiring additional Kalvari-class (Scorpene) submarines for the Navy, potentially sealing a Rs 35,000-crore deal that promises to bolster India’s submarine fleet.
Suzlon Energy: Shares of Suzlon Energy rose on July 24 to hit a 52-week high of Rs 55.70 on the National Stock Exchange (NSE), extending gains to the third straight session. The stock has seen great interest from investors ever since several brokerages issued bullish calls on the counter, citing impressive debt reduction, efficient working capital management, and a positive outlook.
Inox Green Energy: Shares sank over five percent after the clean energy player’s board of directors announced they would consider raising funds. Reports suggest the firm might raise to Rs 1,000 crore via preferential allotment and warrant issuance to be able to fund any future acquisitions.
Vama Industries: Vama Industries’ shares rose on June 24 after the company bagged a supply order worth Rs 74.32 crore. The company has received a supply order worth Rs 74.32 crore from NewSpace India Limited (NSIL). The order included the Supply of Hierarchical Storage Management (HSM) systems and servers for the Central Archival Facility (CAF) Solution on a Turnkey basis.
Garden Reach Shipbuilders and Engineers: Shares snapped a three-day losing run and rose over 9 percent after the company received an order worth $54 million from a German company for multi-purpose vessels. The order is expected to be executed within 33 months.