Indian market ended in the green today led by a rally in IndusInd Bank, SBI, Tata Steel, Bajaj Finserv, ITC, Axis Bank and Tata Motors. Sensex ended 721 points higher at 60,566 in Monday’s session, rebounding after four straight sessions of fall. Nifty too gained 207 pts to 18,014 in the first session of this week, reflecting positive investor sentiment on Dalal Street. Banking, capital goods, metal, oil and gas and IT stocks led the rally on Dalal Street today.
Here’s a look at stocks that were buzzing in trade today.
GPT Infraprojects’ stock ended 20% higher at Rs 53.20 as the firm’s subsidiary — RMS GPT Ghana won an order valued at Rs 123 crore from RMS Concrete, Ghana. The order is for Manufacture and Supply of 130,000 sets Standard Gauge Pre Stressed Railway Concrete Sleepers. Earlier, GPT Infraprojects had bagged an order valued at Rs 173 crore from Northern Railway. GPT Infraprojects, the flagship company of the GPT Group is a premier Infrastructure company based out of Kolkata, India.
Shares of Power Mech Projects rose up to 7.51% to Rs 1,981 today after the firm said it has received Letter of Award (LOA) for three separate orders worth Rs 1,034.13 crore. The first order is for Execution of retrofitting of Flue Gas Desulphurisation (FGD) System from Adani Group for its thermal power plants located at Mahan (Madhya Pradesh), Raigarh (Chhattisgarh), Raipur (Chhattisgarh) ranging between 600 MW to 685MW worth Rs 608.00 crore. Later, the stock ended at the high point of the day.
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Shares of Spandana Sphoorty Financial gained up to 2.11% today after the firm said it has received a binding bid from an Asset Reconstruction Company (ARC), amounting to Rs 95 crore, on Security Receipt consideration basis, for the written-off portfolio with outstanding of Rs 323.08 crore as on September 30, 2022. The company shall follow Swiss Challenge Method for bidding and decision of sale shall be taken as per extant guidelines governing Swiss Challenge Method and the relevant policy of the company. Spandana Sphoorty Financial is a leading, rural focused NBFC-MFI with a geographically diversified presence in India.
Shares of Central Bank of India ended 5% higher at Rs 30.85 against the previous close of Rs 29.40 on BSE after the lender said it has received an approval to raise capital through issuance of Non-convertible redeemable unsecured Base Ill compliant Tier 11 Bonds for amount upto Rs 1500 crore with a base size of Rs 500 crore and a green shoe option up to Rs 1000 crore during the FY 2022-23 subject to market conditions and necessary approvals. The Board of Directors of the Bank at its meeting held on December 26, 2022 has considered and approved the same. Central Bank of India is a commercial bank. The bank’s segments include Treasury Operations, Corporate/Wholesale Banking, Retail Banking and other Banking business.
Shares of Kinetic Engineering ended 5% higher at Rs 95.85 against the previous close of Rs 91.30 after the company said it has commenced production of chassis and other assemblies for the electric avatar of the Luna. Exactly 50 years ago, Kinetic Engineering created automobile history by launching the Luna – priced that time at Rs 2000 which made it the most efficient, affordable, convenient transportation solution to India.
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Stock of Piramal Enterprises rallied up to 3.59% today to Rs 819 as its subsidiary company — Piramal Realty was eyeing about Rs 2,200 crore sales bookings in FY23, up over 40 per cent year-on-year, on strong housing demand. The company has achieved average annual sales bookings of around Rs 2,000 crore in the past five years as it witnessed robust demand for its residential properties across four projects that it has launched so far. Sales bookings were more than Rs 1,500 crore last financial year. Piramal Realty is developing around 12,000 apartments, covering 13 million square feet area, in phases across four residential projects in Mulund, Thane, Mahalaxmi and Byculla in the MMR.
Shares of Larsen & Toubro (L&T) gained up to 2.23% to Rs 2108 against the previous close of Rs 2062.05 on BSE. Later, the stock ended 1.25% higher at Rs 2087.90. The rally in the stock came after the firm’s construction arm — L&T construction secured prestigious orders for its Water & Effluent Treatment Business from the Tumakuru Industrial Township (TITL) under the Chennai Bengaluru Industrial Corridor (CBIC) and repeat orders from the Tamil Nadu Water Supply and Drainage Board (TWAD Board), Government of Tamil Nadu, funded by the Asian Development Bank (ADB).
Shares of Sanghvi Movers ended 7.62% higher at Rs 314.10 against the previous close of Rs 291.85 on BSE. The rally in the stock came after Sanghvi Movers bagged the single largest order, aggregating to Rs 35 crore. The company has secured an order for deployment of various capacity cranes for a renewable wind energy IPP for a duration of 12 months. Sanghvi Movers is engaged in the business of providing hydraulic and crawler cranes to various industries in the infrastructure sector.
Shares of Computer Age Management Services (CAMS) rose up to 2.21% to Rs 2218.45 against the previous close of Rs 2,170.45 on BSE. Later, the stock ended 1% higher at Rs 2191 on BSE. The firm has inked a collaboration with premier research institute, IIT Madras to launch CAMS IIT-M Fintech Innovation Lab (CIFIL), to accelerate financial technology related innovations. The lab is part of the CAMS CSR initiative to focus on ushering innovation and unravelling unique possibilities in the Fintech space and aims to be a world-class hub for research and applied technologies in financial technology space.
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