The Indian equity benchmarks closed in the green on June 12, with the Sensex ending 0.16 percent higher at 62,724.71 and the Nifty up 30.21 percent at 18,601.50. About 2,089 shares advanced, 1,531 declined and 125 shares remained unchanged.
Interglobe Aviation Ltd. | CMP Rs 2,415.30 | Shares of Interglobe Aviation, which operates IndiGo, fell 1.93 percent on June 12 on reports that co-founder Rakesh Gangwal's family would offload a 5-8 percent stake in the company. As of March end, the Gangwal family held a 16.2 percent stake in the airline. The stock has gained 17 percent so far this year, with stable crude prices and problems at rivals GoAir and SpiceJet keeping the sentiment upbeat. In the quarter ended March 2023, the airline reported a second consecutive quarterly profit of Rs 919 crore. IndiGo's revenue from operations grew 76.5 percent on-year to Rs 14,161 crore.
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TVS Motor Company Ltd. | CMP Rs 1,339.60 | Shares of TVS Motors Company Ltd closed 0.30 percent higher on June 12 after its subsidiary acquired a 25 percent stake in Swiss E-Mobility (Holding) AG, also known as SEMG. Earlier, TVS Motor acquired a 75 percent stake in the e-mobility company via its Singapore subsidiary in 2022. The TVS Motors stock has given a return of 30.37 percent over the last six months, outperforming the benchmark Nifty which has given a return of 0.74 percent over the same duration.
Avantel Ltd. | CMP Rs 658.05 | Shares of Avantel Ltd. jumped over 10 percent on June 12 after the company signed a Rs 54.38-crore contract with the Coast Guard Headquarters at New Delhi. A meeting of the board of directors of the company has been convened on June 23 to consider and approve the proposal for sub-division or split of the equity shares of the company having a face value of Rs 10 each. The company's revenue was up 12.4 percent at Rs 52.53 crore as against Rs 46.71 crore, YoY.
Info Edge (India) Ltd. | CMP Rs 4268.60 | Info Edge shares gained by 3 percent on June 12 following the announcement of the sale of its entire shareholding in Happily Unmarried Marketing Private Limited (HUM) to VLCC Health Care Limited (VLCC). HUM, which had zero revenue, was sold at Rs 61 crore as announced through a filing to the exchanges on June 9.
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IND Renewable Energy Ord Shs | CMP Rs 13.78 | Shares of IND Renewable Energy shot up 5 percent on June 12 as investors cheered the company's rights issue plan, which will be taken up in the company's next board meeting. A meeting of Board of Directors of the company is scheduled on June 14 to, inter-alia, consider subject to approval of shareholder raising of funds through issue of shares on Rights basis.
Go Fashion (India) Ltd. | CMP Rs 1,136.70 | Shares of Go Fashion tanked 5 percent on June 12 after an 11.5 percent stake changed hands at Rs 1,136 apiece, a discount of nearly 5 percent from the June 9 closing price. CNBC-TV18 reported on June 11 that Sequoia Capital was looking to sell up to 10.18 percent stake in Go Fashion under restructuring process. The deal value was around Rs 705.5 crore. In December 2022, Sequoia Capital reduced its 13.8 percent stake in Go Fashion to 10.18 percent after offloading 3.7 percent shares through a Rs 228-crore block deal.
Maharashtra Seamless Ltd. | CMP Rs 479.65 | Maharashtra Seamless shares closed 1. 4 percent higher after the DP Jindal group company said it was debt free, as it prepaid loans of Rs 234 crore. The stock hit a 52-week high of Rs 498 earlier in the day but couldn't hold on to the gains. On an annual basis, the company’s revenue grew 42 percent from the previous year and the net profit 12 percent. In Q4, revenue was up 16 percent year on year, while net profit surged 172 percent.
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Cochin Shipyard Ltd. | CMP Rs 555.90 | The Cochin Shipyard share closed 3 percent higher on after the company bagged a Rs 300 crore project from the defence ministry. The company has been declared as L1 by the Indian Navy for MR/Mid Life Upgrade of an Indian Naval Ship. The company had posted 85.6 percent fall in its Q4FY23 net profit at Rs 39.34 crore versus Rs 274.62 crore in March 2022. Revenue was down 50.5 percent at Rs 600.09 crore from Rs 1,212.49 crore last year.
CFF Fluid Control Ltd. | CMP Rs 183.75 | Shares of CFF Fluid Control Ltd. surged 11 percent on June 12 after being listed at a premium on BSE. During the IPO, the company offered 52 lakh shares at Rs 165 a share to raise about Rs 86 crore from primary market investors. CFF Fluid Control Limited became the 437th company to get listed on the BSE SME Platform after successfully completing its public issue on June 2.
Urja Global Ltd. | CMP Rs 12.70 | Shares of Urja Global surged nearly 20 percent on June 12 after announcing an order win from Tesla Power India Private Limited, which has no links to Elon Musk's EV powerhouse Tesla, on June 8. The company’s stock vaulted 20 percent on June 9 and once again on June 12, taking its Year-till-Date returns to 25 percent. For the quarter ended March 2023, the company reported a revenue of Rs 10.14 crore and a net profit of Rs 2 lakh.
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