The equity benchmarks ended on a negative note yet again on February 28. At close, the Sensex was down 326.23 points, or 0.55%, at 58,962.12, and the Nifty was down 88.70 points, or 0.51%, at 17,304.
2/11
Vedanta | CMP: Rs 268.10 | The stock price declined over 6 percent ahead of its $2-billion fundraising scheduled to begin in the coming weeks. S&P Global Ratings stated in a report that if Vedanta Resources, led by mining billionaire Anil Agarwal, is unable to advance either the $2 billion fundraising exercise or the sale of its international zinc assets to Hindustan Zinc Ltd in the near future, the company's credit rating will face an immediate strain.
3/11
Uflex | CMP: Rs 377.55 | The share price jumped over 6 percent after the Income Tax department concluded its raid on the premises of the packaging company. The raid that began on February 21 hammered the stock by 30 percent in the past seven sessions. After the selloff, the stock saw some buying at the two-year low levels amid heavy volumes.
4/11
Mahindra Logistics | CMP: Rs 373.30 | The scrip ended in the red on February 28. The company's Chief Financial Officer Yogesh Patel has tendered his resignation. "We hereby inform you that Yogesh Patel, CFO and key managerial personnel of the company has tendered his resignation to pursue interests outside the Mahindra Group," the company said in an exchange filing. Patel's resignation will be effective from March 10, with the company saying it is in the process of appointing a new CFO. This will be communicated to the stock exchanges in due course, it added.
Mastek | CMP: Rs 1,644 | The stock ended in the green after the company announced a strategic alliance with Netail. The collaboration will combine Mastek's expertise in digital commerce and data analytics with Netail's AI technology, resulting in a synergized retail solution and will empower online retailers with personalised merchandising, a better understanding of consumer behavior, efficient user experience, flexible assortment strategy, and real-time market visibility.
6/11
Zee Entertainment Enterprises | CMP: Rs 194.40 | The share price gained over 6 percent after the National Stock Exchange decided to lift its surveillance of the company. The exchange issued fresh derivatives contracts for May starting February 28, in addition to the already valid contracts for March and April expiry.
7/11
Brigade Enterprises | CMP: Rs 480.50 | The scrip ended in the green after Brigade Group announced expansion plans for its managed office brand, BuzzWorks. In FY24, BuzzWorks will add seats in Bangalore, Kochi, Chennai and GIFT City, the company said.
8/11
Cipla | CMP: Rs 905.80 | The stock price shed over 4 percent after the US Food and Drug Administrator (FDA) listed eight observations in Form 483 it issued to Cipla following a recent inspection at the Pithampur facility. Cipla has failed to establish, write and follow any preventive measures for microbiological contamination, appropriate controls over computers and related systems have not been taken and procedures for handling written or oral complaints have been compromised, it said.
Triveni Glass | CMP: Rs 22.60 | The stock hit 5 percent upper circuit on a report that the glassmaker will invest Rs 1,000 crore to set up an 840-tonne-a-day solar glass manufacturing plant in Andhra Pradesh. The company will set up the plant at Pangidi in the East Godavari district, which will create 2,000 jobs, the report said. It added that Triveni Glass Managing Director Varun Gupta met Chief Minister YS Jagan Mohan Reddy on February 27 and deliberated on investments in the state, which hosts a Global Investors' Summit in Visakhapatnam on March 3 and 4.
10/11
Shree Cement | CMP: Rs 25,780 | The scrip ended in the green after the company emerged as the highest bidder for the Datima Coal Mine Block in Surajpur Tehsil in the Surguja district of Chhattisgarh. The Datima Coal Mine Block has geological reserves of 13.30 million tonnes. The auction for the coal block was conducted by the union ministry of coal on February 27.
11/11
Dr Reddy's Laboratories | CMP: Rs 4,314 | The share price shed over 2 percent after Dr Reddy's Laboratories SA, a wholly owned subsidiary of Dr Reddy’s Laboratories, entered into a definitive agreement to acquire the US generic prescription product portfolio of Salisbury, Australia-based Mayne Pharma Group Limited, the company said in a press release. Morgan Stanley has an 'overweight' rating on the stock with a target price of Rs 5,099 a share, while Jefferies has kept a 'buy' rating on the stock with a target price of Rs 4,955 a share.
![Mahindra Logistics | CMP: Rs 373.30 | The scrip ended in the red on February 28. The company's Chief Financial Officer Yogesh Patel tendered his resignation. "We hereby inform you that Yogesh Patel, CFO and key managerial personnel of the company has tendered his resignation to pursue interests outside the Mahindra Group," the company said in an exchange filing. Patel's resignation will be effective from March 10 with the company saying it is in the process of appointing a new CFO. This will be communicated to the stock exchanges in due course, it added.](https://images.moneycontrol.com/static-mcnews/2020/11/Mahindra-Logistics.jpg "Mahindra Logistics | CMP: Rs 373.30 | The scrip ended in the red on February 28. The company's Chief Financial Officer Yogesh Patel tendered his resignation. "We hereby inform you that Yogesh Patel, CFO and key managerial personnel of the company has tendered his resignation to pursue interests outside the Mahindra Group," the company said in an exchange filing. Patel's resignation will be effective from March 10 with the company saying it is in the process of appointing a new CFO. This will be communicated to the stock exchanges in due course, it added.")
