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Dalal Street closed lower, weighed by banking and financial services stocks. HDFC Bank and HDFC gave up yesterday’s gains as some market participants booked profits. The Sensex fell 0.72% and the Nifty lost 0.53% to close below 18,000-mark.
However, broader markets ended stronger. Nifty Midcap 100 jumped 1.38% and BSE Smallcap rose 1.37%.
Top Nifty sectoral losers were Financial Services [-1.58%], Private Bank [-1.53%] and Bank [-1.47%]. Top gainers were FMCG [1.25%], Auto [1.23%], and Energy [1.15%].
Indian rupee strengthened by 22 paise to close at 75.33 against the Us dollar on Tuesday.
Stock in News Today
YES Bank: The private sector lender’s loan book expanded by 8.8 per cent to Rs 1.81 trillion in FY22. The disbursements of gross retail loans were Rs 10,324 crore in Q4FY22, up from Rs 7,530 crore in Q4FY21. The low cost deposits (CASA) jumped 44.3% to Rs 61,449 crore in Q4FY22, from Rs 42,587 crore in the year-ago period.
Tata Power: The company’s subsidiary, Tata Power Solar, has commissioned a 160 MW AC solar project at Jetstar in Rajasthan. Around 6,75,000 monocrystalline PV modules were used in this installation and it will produce 387 million units of energy per year, according to a statement.
Mindtree: The IT company has made a strategic investment in U.S. healthcare consulting firm COPE Health Solutions. Mindtree seeks to leverage the consulting, data analytics and management capabilities of COPE Health to expand its provider and payer footprint with this investment.
Larsen & Toubro (L&T): The company has won significant contracts for its transportation infrastructure business. L&T categorises significant orders to be in the range of Rs 1,000 crore-Rs 2,500 crore. Transportation business received an order from Tamil Nadu Road infrastructure corporation to construct the Chennai Peripheral Ring Road in the EPC mode. The railways business unit won an order from Uttar Pradesh Metro Rail Corporation Ltd.
Zomato: The online food delivery firm said in a regulatory filing that it will explain to the competition watchdog, CCI, that it is in compliance with relevant laws. The company added that it is ready to promptly comply with any recommendations given to Zomato by the Hon’ble Commission.
KEC International: Shares of the company surged 3.58% after the company secured orders worth Rs 945 crore across its various businesses such as transmission and distribution, railways and cables.
Ramkrishna Forgings: Shares of the company rose 6.89% after the company bagged an export order worth Rs 135 crore from a Euroasian original equipment manufacturers. The order pertains to the supply of heavy duty commercial vehicle crank shafts and is to be executed over five years.
Bharat Forge: The company’s board has approved the issuance of 2000 listed, rated, unsecured, redeemable, NCDs of face value Rs 10 lakh, aggregating to Rs 200 crore, on a private placement basis. Shares of the company rose 2.57%.
Nazara Technologies: The company’s subsidiary, Nazara Pte. Ltd, said that it will invest $2.5 million in US-based Bitkraft Ventures, an investment platform for gaming and Web3. The investment will be spread out over three years.
Glenmark Pharma: Shares of the company gained 2.15% after the company approved repurchase of an aggregate principal amount of $75 million of bonds due in 2022 by way of on-market purchases at an early redemption amount plus accrued and unpaid interest.
Lupin: The drug manufacturer has entered into a licensing deal with Alvion Pharmaceuticals to commercialise medicines for cardiometabolic diseases in the Southeast Asia region. With this buyout, Lupin expects to strengthen its presence in Vitamins, Minerals & Supplements and CNS segments.