The BSE Sensex and NSE Nifty ended higher on Wednesday after the Union Cabinet approved the long-awaited 7th Pay recommendations amid firm global cues. Sensex ended 215.84 points higher at 26,740.39, while NSE Nifty closed 76.15 points up at 8,204.00.
Below are the 10 stocks that remained in focus today
Prism Cements: Stocks of the company ended 14.50 per cent up at Rs 112.95 after it bid for 120,000 tonnes per annum of coal from South Eastern Coalfields (A subsidiary of Coal India) in a recently held auction of coal linkages for the cement industry. The company has secured part fuel requirement for the next 5 years.
Mandhana Industries: Shares of the company lokced in lower circuit for the eighth consecutive trading session. The firm is in the process of demerging its current retail business into the resulting company, Mandhana Retail Ventures Limited. In another latest announcement, Mandhana Industries on June 14 informed the bourses that CARE has revised its ratings for non-convertible debentures, long term and short term banking facilities and it stands at BBB+, CARE A3 and CARE BBB+, respectively.
Auto, retail and consumer durables: Stocks of auto, retail and consumer durable companies were in limelight after Union Cabinet approved the 7th Pay Commission recommendations. Shares of Hero MotoCorp and TVS Motor Company surged 3.95 per cent and 0.88 per cent, respectively. Retail majors such as Shoppers Shop and Future Enterprises also ended 5.90 per cent and 5.45 per cent, respectively. According to market experts, there will be higher disposable income and more discretionary spendings after the salary hikes. In the consumer durables sector, shares of Nilkamal closed 8.43 cent, while Blue Star, Whirlpool and Voltas ended 3.76 per cent, 1.38 per cent and 1.87 per cent, respectively.
Thomas Cook: Stocks of the company settled 0.51 per cent up at Rs 215.05 after its subsidiary Quess Corp will hit capital markets on Wednesday to raise Rs 400 crore through an initial public offering. The company, promoted by Ajit Isaac and Thomas Cook (India), has fixed a price band of Rs 310–317 per share with a face value of Rs 10 each. The issue will close on July 1.
DLF: Stocks of the company closed 7.83 per cent up at Rs 143.95 as according to media reports its promoter KP Singh will infuse Rs 10,000 crore in company to make the firm debt free.
Bosch: Stocks of the auto component major ended 5.26 per cent up at Rs 22656.55 as its board will consider on July 1 launching a buyback offer for its equity shares.
Canara Bank: Stocks of the bank ended 1.11 per cent up at Rs 217.75 as it will seek shareholders’ approval in the ensuing Annual General Meeting in July to raise Rs 2,000 crore to create capital buffer.
Sobha Developers: Stock of the real estate company closed 3.17 per cent up at Rs 319 as it will launch its first luxury apartment projects, Sobha City, in Delhi-NCR on Wednesday. The project offers 2BHK and 3BHK apartments that range from 1380 sq ft to 2342 sq ft.
Motilal Oswal Financial Services: Stocks of the ended 2.55 per cent up at Rs 338 as it plans to raise Rs 1,000 crore on a private placement basis.
Dr Reddy’s Laboratories: Stocks of the pharma company ended 0.22 per cent up at Rs 3272.95 as it has bought back nearly 51 lakh shares for Rs 1,569.41 crore as part of a ‘share buyback’ offer launched earlier this year.
