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Benchmark stock indices extended gains, helped by broad-based gains led by information technology and metal stocks. The Sensex rose 0.82% and the Nifty 50 index climbed 0.85%.
In the broader markets, the Nifty Midcap 100 index rose 1% and and the BSE Smallcap advanced 1.57%.
Top Nifty sectoral gaines were IT [2.05%], Metal [1.52%], Energy [0.9%], Auto [0.89%] and FMCG [0.86%]. All other sectoral indices closed in the green.
Indian rupee was flat at at 78.35 against the US dollar on Monday.
Stock in News Today
Bajaj Auto: The two-wheeler manufacturer’s board have approved share buyback of shares up to Rs 2,500 crore at a price not exceeding Rs 4,600 per share, via open market. The company added that indicative maximum number of shares to be bought back would be about 54,34,782 equity shares, comprising approximately 1.88% of the paid-up share capital of the company as of June 27, 2022.
Jet Airways India: Airbus has emerged as the front-runner to win an aircraft order worth as much as $5.5 billion from the company, Bloomberg reported citing people familiar with the matter.
Aurobindo Pharma: The company said that it had received a warning letter from the Securities Exchange Board of India (SEBI) with respect to certain disclosures made by the company on the ongoing the US FDA audit of company’s unit-1 and observations made by the US FDA between the period 2019 to 2022. The SEBI warning letter observes that the company had disclosed very limited and restricted information and that the company did not disclose the detailed reasons and also did not consider-the observations of US FDA as serious.
Hikal: Shares of the company rose after the Bombay High Court sets aside Maharashtra Pollution Control Board direction. Hikal had filed a writ petition in Bombay High Court against the Maharashtra Pollution Control Board’s direction on April 22 ordering the company to shut down its manufacturing unit in MIDC Taloja in Raigad district, citing non-compliance issues.
Brightcom Group: Shares of the company rose in the first half of intraday trading after Hyderabad-based IT firm Brightcom approved the appointment of Singaraju Lakshmi Narayana Raju as CFO and Key Managerial Personnal. The appointment was be effective from July 25. He would replace the outgoing CFO Yepuri Srinivasa Rao.
Thomas Cook (India): The travel company has launched FX-Now – a digital tool that empowers its corporate segment with convenient, customizable and contactless end-to-end foreign exchange services. FX-Now ushers in a digitized foreign exchange model that ensures speed, accuracy and seamless services for its on-the-go business travellers.
Ashoka Buildcon: The company has executed a contract agreement with Government of the co-operative Republic of Guyana on 24 June 2022, for the Project viz. ‘Request for Proposal for Procurement of Phase 1: East Bank-East Coast Road Linkage Project (Ogle to Haags Bosch, Eccles)’. The accepted bid project cost for the project is $106.38 million and the construction period is 730 days from the commencement date.
Varroc Engineering: The company announced that it incorporated a wholly-owned subsidiary, VL Lighting Solutions, which will carry out research and development activities in the field of automotive products.
TTK Prestige: The company has taken a strategic stake of more than 40% in Ultrafresh to forge a business collaboration between the two companies. TTK Prestige said that the initiative ties-in with company’s overall goal of becoming a total kitchen solutions brand.
Rattanindia Power: The company’s board has approved a related party transaction with RattanIndia Enterprises for entering into an arrangement for commercial development of surplus land admeasuring 421 acres, situated at Amravati Thermal Power Plant of the company at Nandgaon Peth, Amravati.
Steel Exchange India: The company has fixed 13th July 2022 as record date for the purpose of split of each equity share having face value of Rs 10 each, fully paid-up into Ten (10) equity shares having face value of Rs. 1/- (Rupees One only) each fully paid-up.