The key equity barometers traded with minor gains in noon deals of Wednesday, February 23, 2022. At 1:06 pm, the S&P BSE Sensex was trading with a gain of 214.33 points or 0.37% at 57,515.01. The Nifty 50 index at NSE was trading 59.55 points or 0,35% higher at 17,151.75. Meanwhile, certain stocks were in action in either direction based on reports linked to them. Here is a list of some of such stocks:

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

See Zee Business Live TV Streaming Below:

Buzzing Stocks

Sharda Cropchem: Up 6.60%.

Asian Paints: Up 1.81%.

Tata Consumer Products: Up 1.89%.

Chamanlal Setia: Up 1.45%.

Restaurant & QSR Stocks: On a move. Stocks like Westlife Development - up 4.21%; Sapphire Foods - up 4.05%; Barbeque Nation - up 2.57%; Devyani International - up 2.56%; Coffee Day - up 3.21% and Jubilant FoodWorks - up 2.61% were trading with decent gains.

Retail Stocks: On a move. Stocks like Future Lifestyle - up 3.39%; Trent - up 2.04%; Spencer's Retail - up 2.13%; Future Retail - up 2.92%; AB Fashion - up 2.19% and Shoppers Stop - up 1.01% were trading with decent gains.

Paper Stocks: On a move. Stocks like Tamilnadu Newsprint - up 9.23%; Malu Paper - up 4.82%; Pudumjee Paper - up 3.28%; JK Paper - up 2.59%; Orient Paper - up 3.23% and West Coast Paper - up 1.53% were trading with decent gains.

Textile Stocks: On a move. Stocks like Arvind - up 3.64%; KPR Mills - up 2.11%; Welspun India - up 5.16%; Bombay Dyeing - up 2.30%; Ambika Cotton - up 7.13% and Page Industries - up 2.02% were trading with decent gains. (FIRST ON ZEE BUSINESS) The government has declared some relaxation in the PLI scheme for textile. Change in the rules for the formation of a new company has been notified and change suggests that the investments made before September 24, 2021, are also valid for PLI. The benefit of the scheme will be available even if production does not start before September 2021.

Realty Stocks: On a move. Stocks like Sunteck Realty - up 5.74%; Arvind Smartspace - up 1.40%; Raymond - up 6.48%; Sobha - up 5.04%; PSP Projects - up 4.84%; Emami Realty - up 4.98%; Puravankara - up 2.13%; Prestige Estate - up 6.61% and DLF - up 4.90% were trading with decent gains.

Hotel Stocks: On a move. Stocks like Advani Hotels - up 6.68%; Kamat Hotels - up 3.70%; Oriental Hotels - up 4.45%; Mahindra Holidays - up 3.41%; ITDC - up 2.66% and EIH - up 2.56% were trading with decent gains.

Power Sector Stocks: On a move. Stocks like Adani Power - up 4.48%; Adani Transmission - up 3.75%; CESC - up 2.90%; CG Power - up 3.10%; JSW Energy - up 2.21%; REC - up 1.58% and Torrent Power - up 1.38% were trading with gains.

Railway Stocks: On a move. Stocks like IRCTC - up 2.71%; Astra Microwave - up 2.37%; Walchandnagar - up 2.78%; RVNL - up 2.08%; Titagarh Wagons - up 2.19% and BEL - up 0.86% were trading with gains.

Consumer Durable Stocks: On a move. Stocks like Crompton Greaves - up 3.10%; Dixon Technologies - up 2.02%; Titan - up 2.24% and Blue Star - up 1.39% were trading with decent gains. These stocks are performing on the basis of the news that Crompton Greaves Consumer Electricals Ltd. has signed definitive agreements with certain members of the promoter group of Butterfly Gandhimathi Appliances Ltd. ("Butterfly") to acquire up to 55% stake at Rs 1,403.00 per equity share, aggregating up to Rs1,379.68 crore.

Healthcare Stocks: On a move. Stocks like Metropolis - up 3.10%; APL Ltd. - up 3.24%; Glenmark - up 2.12%; Apollo Hospitals - up 1.57%; Cadila Healthcare - up 2.02%; Gland Pharma - up 2.55%; Strides Pharma - up 1.96% and Alkem Laboratories - up 0.82% were trading with decent gains.

Financial Stocks: On a move. Stocks like Piramal Enterprises - up 2.81%; REC Ltd. - up 1.62%; Bajaj Finance - up 1%; PFC - up 1.15% and M&M Finance - up 1.19% were trading with decent gains.

Banking Stocks: On a move. Stocks like Kotak Mahindra Bank - up 2.94%; Bandhan Bank - up 1.46%; Federal Bank - up 1.21%; PNB - up 1.21%; AU Small Finance Bank - up 1.82%; IndusInd Bank - up 1.29% and IDFC First Bank - up 0.92% were trading with gains.

Declining Stocks

KIOCL Ltd.: Down 5.41%.
Indostar Capital: Down 2.38%.
Heritage Foods: Down 2.91%.
Bajaj Electricals: Down 2.45%.
Mrs Bectors Food: Down 2.21%.
ONGC: Down 1.91%.
TVS Motor: Down 1.61%.
Punj Lloyd: Down 1.82%.
NHPC Ltd.: Down 1.39%.
Shriram Transport: Down 1.57%.
Tube Invest: Down 1.87%.
MCX: Down 1.07%.
Supreme Petrochem: Down 1.36%.
Fino Payment Bank: Down 1.76%.
Star Health: Down 1.13%.

Recent IPOs

Supriya Lifescience: Up 9.81%.
Adani Wilmar: Up 9.99%.
HP Adhesives: Up 4.73%.
Sigachi Industries: Up 4.39%.
Vijaya Diagnostic: Up 3.15%.
Medplus Health: Up 3.80%.
Nykaa: Up 3.68%.
Shriram Properties: Up 3.28%.
RateGain Travels: Up 2.87%.
Data Patterns: Up 2.76%.
Zomato: Up 3.01%.
MaymyIndia: Up 4.37%.

Q3FY22 Earnings Impact

Elantas Beck India: Up 4.71%. The chemical manufacturing company has reported a 26.2% YoY decline in the net profit at Rs 16.6 crore for the quarter ended December 31, 2021, compared to Rs 22.5 crore posted in the year-ago quarter. Revenue from operation grew 23.3% YoY to Rs 145.5 crore against Rs 118 crore posted last year. EBITDA stood at Rs 21.75 crore, down 19.75% from Rs 27.1 crore posted last year. Margins contracted to 15% in Q3FY22 from 23% posted in Q3FY21. Besides, the Board of Directors of the company has recommended payment of a dividend of Rs 5 per equity share of Rs 10 each, for the year 2021.

Mahindra CIE Automotive: Down 3.67%. The multi-technology automotive components supplier has reported a 28.4% YoY decline in the consolidated profit at Rs 80.1 crore for the quarter ended December 31, 2022, compared to Rs 111.9 crore posted in the year-ago quarter. Revenue from operation grew 5.5% YoY to Rs 2,064.2 crore against Rs 1,957.6 crore posted last year. EBITDA stood at Rs 202.2 crore, down 18.3% from Rs 247.5 crore posted last year. Margins down to 9.8% in Q3FY22 against 12.6% posted in Q3FY21. The company has reported an exceptional loss of Rs 12.8 crore. Besides, The Board of Directors of the company has recommended a second Interim Dividend of Rs 2.5 per share.

Stocks in News

Crompton Greaves Consumer Electricals (up 5.46%) /Butterfly Gandhimathi (up 0.86%): Crompton Greaves Consumer Electricals Ltd. ("Crompton") has signed definitive agreements with certain members of the promoter group of Butterfly Gandhimathi Appliances Ltd. ("Butterfly") to acquire upto 55% stake at Rs 1,403.00 per equity share, aggregating upto Rs1,379.68 crore. Crompton will also launch the mandatory open offer to the public shareholders of Butterfly, for acquiring upto 26% stake in Butterfly at a price of Rs 1,433.90 per equity share, aggregating up to Rs 666.57 crore; for an aggregate total consideration of upto Rs 2,076.63 crore. It will also buy certain Butterfly trademarks in allied and cognate classes from promoter group entities ("Trademarks") for a consideration of Rs 30.38 crore. Besides, the Board of Directors of the company has approved to enter into two separate agreements to acquire 9.12 acres of land from LLM Appliances Private Limited for a consideration of Rs 63 crore and 3.37 acres of land from Mr V. M. Balasubramaniam for a consideration of Rs 22 crore, located at Plot No. 143, Pudupakkam Village, Vandalur Kelambakkam Road, Kelambakkam, Chengalpettu, Tamil Nadu - 603103 ("Land Parcels"), respectively. The consideration for each of the Land Parcels has been determined taking into account valuation reports dated February 18, 2022, issued by K. V. Venugopal, Registered Valuer. The said Land Parcels are located adjacent to the registered office of Butterfly Gandhimathi Appliances Limited ("Butterfly"). The transaction will accelerate Crompton's long-term strategic goal of becoming a leading player in the small domestic appliances segment.

Maruti Suzuki: Up 1.59%. Maruti Suzuki India Limited today announced the launch of its much-awaited technologically superior premium hatchback - the New Age Baleno. Equipped with a host of class-leading technology, safety, comfort & convenience features and NEXA’s new signature Crafted Futurism design language, the New Age Baleno will provide an unparalleled driving experience to customers.

Hero MotoCorp: Down 1.14%. Hero MotoCorp and Bharat Petroleum Corporation Limited (BPCL) have collaborated to set up charging infrastructure for two-wheeled electric vehicles (EVs) across the country.

Carborundum Universal Ltd.: Up 1.82%. HDFC Midcap Opportunity Fund offloaded 1,10,800 shares, i.e., 0.06% equity shares of the company on February 18, 2022. With this, HDFC Midcap's holding has reduced to 5.59% from 5.65% in the company. 

Intellect Design Arena Ltd: Up 2.45%. The cloud-native, future-ready, multi-product FinTech company and Wyth Financial (a trading name of Concentra Bank), one of Canada’s leading mid-market digital banks, announced that the bank has gone live with Intellect Contextual Banking Experience - Retail (CBX-R) deployed on Microsoft Azure to offer fully digital direct-to-customer bank offering to its customers. With a cloud-native, microservices-based and API-first architecture, Intellect’s CBX-R is a comprehensive omnichannel solution catering to the ever-evolving demands of the modern bank customer.

Brigade Enterprises: Up 1.50%. The Company has incorporated "Brigade Real Estate Developers Private Limited as its Wholly Owned Subsidiary.

SIS Limited: Up 1.28%. The Indian multinational and essential services market provider has been awarded a two-year contract valued at approximately Rs 225 crore to provide security solutions at 18 sites of Mahanadi Coalfields located across India with an option to renew for a further one year period. As part of the contract, SIS will deploy security personnel in different categories to provide security services across 18 sites of Mahanadi Coalfields at Sambalpur, Bhubaneshwar, IB Valley Coalfields and Talcher Coalfields.

Dhani Services: Down 9.97%. (NSE Bulk Deal). Baillie Gifford Pacific Fund sells 94.3 lakh shares at Rs 85.07 per share.

Kings Infra Ventures Limited: Up 4.93%. (BSE Bulk Deal). Rajesh Kumar Jhunjhunwala buys 120,000 shares at Rs 64.67 per share.

Metropolis: Up 3.23%. Promoter bought 1.5 lakh shares between February 18-21, 2022. 

NCL Industries: Up 1.83%. Promoter bought 9,000 shares on February 21, 2022.