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Benchmark stock indices rebounded after a sharp decline in the previous session, boosted by gains in information technology, metals and realty stocks. The Sensex closed 0.89% higher at 56319.01 and the Nifty ended 0.94% higher at 16770.85.
Top gainers in Nifty sectoral indices are Metal [2.94%], IT [1.98%] and Realty [1.61%]. All other sectoral indices closed in positive territory.
Indian rupee rose 31 paise to close at 75.60 against the US dollar.
Stock in News Today
State Bank of India (SBI): The public-sector lender has acquired a minority stake in JSW Cement Limited, part of JSW Group. The lender has invested Rs 100 crore in the company via compulsorily convertible preference shares (CCPS). This capital infusion will support JSW Cement’s capacity expansion from current 14 MTPA to 25 MTPA.
C.E. Info Systems Ltd (MapmyIndia): Shares of the company surged on market debut as the stock listed at Rs 1,565 apiece, a 51.5% premium to its IPO issue price of Rs 1,033, on the National Stock Exchange. It ended at Rs1393.65, up 34.91%.
Indian Oil Corp: The oil marketing company has approved an investment proposal of new crude oil pipeline system with a capacity of 17.5 million tonnes per annum, along with the augmentation of crude oil tank farm at Mundra at a cost of Rs 9,028 crore. The project is expected to be completed within 36 months.
Mahindra Holidays & Resorts India: The company downplayed the threat of Omicron variant of the coronavirus and it said that occupancy is back to pre-pandemic levels and will likely hit upwards of 80% this quarter, Bloomberg reported. However, the company said it expects a dip in their margins.
Punjab National Bank: The public-sector lender and Paisalo Digital Ltd has signed a co-lending loan agreement to enable MSME segment and empower Agri, Allied Agri, women entrepreneurs and small businesses. PNB-Paisalo co-lending platform will leverage on PNB’s low cost of funds on the liability side and Paisalo’s origination and rule engine underwriting capabilities on the asset side.
Gujarat Gas Ltd: Shares of the company closed 2.5% higher after Jefferies maintained its ‘buy’ rating and target price of Rs 830 apiece citing that the underlying demand remained intact despite the near-term softness in volumes.
Chalet Hotels Ltd: The board of Chalet Hotels at its meeting held on December 21 has approved the offer of secured, unlisted, non cumulative, redeemable and non-convertible debentures up to an amount of Rs 375 crore to ‘International Finance Corporation’ on a private placement basis.
Birla Tyres: The company in an exchange filing has said that it has approved a draft scheme of arrangement for internal reconstruction of the company. Birla Tyres seeks to restructure its debt and demerge its ‘yet-to-operate’ Passenger Car Radial Tyre Plant into a newly formed company. This will enable debt reduction through monetisation of passenger car radial tyre plant and generate revenue from the running plant.
Exide Industries Ltd: The company at its board meeting held today, has decided to set up a multi-gigawatt lithium-ion cell manufacturing plant. It also plans to apply for and participate in the Production-Linked Incentive Scheme for National Programme on Advanced Chemistry Cell (ACC) battery Storage, issued by the Ministry of Heavy Industries.
Strides Pharma Science Ltd: The company said that its biotech arm Stelis Biopharma Ltd. has commissioned its large-scale integrated vaccine manufacturing facility in Bengaluru. The company in an exchange filing said that the facility was successfully inspected by Central Drugs Standard Control Organisation (CDSCO).
CSB Bank Ltd: The lender has been empanelled as ‘agency bank’ by the Reserve Bank of India. This will allow CSB Bank to undertake general banking business of the central and state governments which may be entrusted by the central bank. The lender can now enter into agreement with state governments and central government departments for businesses like tax collections, pension payment, collection of stamp duty etc.