Page 179 - Market Trends
Action Construction at new high on strong outlook; soars 48% so far in July
Thus far in the calendar year 2023, the stock has zoomed 139 per cent, as compared to 9.2 per cent rise in the S&P BSE Sensex.
 "Action Construction at new high on strong outlook; soars 48% so far in July")
Can Fin Homes sinks 8% after firm reports Rs 38 cr fraud at Ambala Branch
The company has undertaken legal action and expects one time impact on earnings, while, there will be no impact on assets quality.
 "Can Fin Homes sinks 8% after firm reports Rs 38 cr fraud at Ambala Branch")
L&T surges 4%; hits new high on strong Q1 results, Rs 10,000 crore buyback
The company would entail 33.3 million equity shares for a price of up to Rs 3,000 each, via tender offer route, subject to approvals.
 "L&T surges 4%; hits new high on strong Q1 results, Rs 10,000 crore buyback")
Tata Motors DVR hits record high, zooms 18% on delisting plan
The board of the automotive major approved a scheme whereby 7 ordinary shares of the company will be issued for every 10 A-shares held, and all its outstanding A-shares will stand cancelled.
 "Tata Motors DVR hits record high, zooms 18% on delisting plan")
Jyothy Labs zooms 19% on strong operational performance in June quarter
EBITDA margins for the quarter improved 710 bps to 17.1 per cent against 10 per cent in a year ago quarter, due to moderating input costs.
 "Jyothy Labs zooms 19% on strong operational performance in June quarter")
ITC loses over Rs 50,000 cr m-cap in 2 days on hotel biz de-merger plan
The m-cap of ITC eroded by Rs 54,350 crore to Rs 5.68 trillion in Tuesday's intra-day deal
 "ITC loses over Rs 50,000 cr m-cap in 2 days on hotel biz de-merger plan")
Sharda Cropchem slips 7%, hits 3-month low on disappointing Q1 results
The company's revenues during the quarter declined 22.7 per cent YoY to Rs 638 crore due to lower sales in Europe and The North American Free Trade Agreement (NAFTA) Region.
 "Sharda Cropchem slips 7%, hits 3-month low on disappointing Q1 results")
SJVN hits new high on strong order inflows; stock surges 37% in one week
Government of Arunachal Pradesh has allotted five projects totalling 5.097 MW to the SJVN.
 "SJVN hits new high on strong order inflows; stock surges 37% in one week")
Jay Bharat Maruti freezes at 5% upper circuit on stock split plan
In past three months, the stock price of the company has more-than-doubled or zoomed 123 per cent, as compared to 11 per cent rise in the S&P BSE Sensex.
 "Jay Bharat Maruti freezes at 5% upper circuit on stock split plan")
ITC surpasses HUL to become the most-valued FMCG stock after 4 years
Thus far in calendar year 2023, the share price of ITC has appreciated by 48 per cent, while HUL's stock price has gained 1.3 per cent and the Sensex 8.8 per cent, respectively.
 "ITC surpasses HUL to become the most-valued FMCG stock after 4 years")
United Spirits rallies 7%; hits record high on healthy Q1 performance
In Q1FY24, the company's EBITDA jumped 84 per cent YoY to Rs 385 crore, margins expanded 638 bps to 17.7 per cent.
 "United Spirits rallies 7%; hits record high on healthy Q1 performance")
L&T gains 3%; hits new high as board to mull buyback, special dividend
The civil construction major announced its board will meet on July 25 to consider share buyback and special dividend.
 "L&T gains 3%; hits new high as board to mull buyback, special dividend")
Krsnaa Diagnostics slips 15% as Rajasthan NHM cancels agreement
The National Health Mission, Rajasthan has cancelled the letter of acceptance (LoA) for providing laboratory services in the state under the free diagnostics initiative on the hub and spoke model.
 "Krsnaa Diagnostics slips 15% as Rajasthan NHM cancels agreement")
Newgen hits new high on strong Q1 results; zooms 126% so far in 2023
The company has reiterated its guidance of 20 per cent topline growth and EBITDA margin of 20-21 per cent in FY24.
 "Newgen hits new high on strong Q1 results; zooms 126% so far in 2023")
Dr Reddy's gains nearly 3% post completion of USFDA inspection at AP unit
The stock hit a fresh 52-week high at Rs 5,360, and has rallied over 19 per cent in less than two months.
 "Dr Reddy's gains nearly 3% post completion of USFDA inspection at AP unit")
RIL gains 2% as it trades ex-Jio Financial; JFS valued at Rs 262 on NSE
Jio Financial Services was valued at Rs 251 on the BSE and Rs 262 on the NSE, as the price of RIL (ex-JFS) settled at Rs 2,589 and Rs 2,580, respectively, on both the exchanges.
 "RIL gains 2% as it trades ex-Jio Financial; JFS valued at Rs 262 on NSE")
Rallis India trades flat day after Rekha Jhujhunwala offloads 5.5% stake
Tata Chemicals acquired 9.7 million shares of its subsidiary for Rs 208 crore through a bulk deal, with face value of Re 1 each at Rs 215.05 per equity share.
 "Rallis India trades flat day after Rekha Jhujhunwala offloads 5.5% stake")
Polycab India enters top-100 most-valued firms' club; rallies 11% in 2 days
With a market capitalisation of Rs 64,422 crore, Polycab India stood at 91st position in overall m-cap ranking on Wednesday morning.
 "Polycab India enters top-100 most-valued firms' club; rallies 11% in 2 days")
This Vijay Kedia-owned stock has zoomed over 70% in 3 days
Panasonic Energy India Company hit a near eight-year high at Rs 427, on rallying 20 per cent amid heavy volumes on the BSE.
 "This Vijay Kedia-owned stock has zoomed over 70% in 3 days")
Amara Raja Batteries tumbles 6% after almost 18% equity change hands
According to media reports, Clarios ARBL Holding was to sell its entire 14 per cent stake in the company though bulk-block deal mechanisms on stock exchanges at a floor price of Rs 651 per share.
 "Amara Raja Batteries tumbles 6% after almost 18% equity change hands")