Benchmark indices ended lower on February 20 amid selling across sectors barring auto and IT names. At close, the Sensex was down 311.03 points or 0.51 percent at 60,691.54, and the Nifty was down 99.60 points or 0.56 percent at 17,844.60.
2/11
Bharat Dynamics | CMP: Rs 913.20 | The company's share price jumped over 4 percent after the firm inked an export order worth $255 million. This new order is an addition to Bharat Dynamics' heavy order book, with deals totalling Rs 11,906 crore as of November-end. While order inflows were slower than expected in the first nine months of the current financial year, brokerage firm ICICI Securities remains bullish about the company's future prospects.
3/11
CRISIL | CMP: Rs 3,224 | The scrip added over 2 percent after the company recorded 6.3 percent year-on-year decline in consolidated profit at Rs 158.02 crore for quarter ended December 2022 due to high base. In Q4CY22, the profit was inflated by exceptional gain of Rs 45.82 crore due to profit on sale of immovable property. Consolidated revenue from operations grew by 16.5 percent YoY to Rs 822.3 crore for the quarter.
4/11
United Breweries | CMP: Rs 1,459 |The stock ended in the red on February 20 after the company’s top managing personnel resigned. However, the Supreme Court's stay decision on the penalty order of NCLAT and CCI limited the downfall in the stock. United Breweries, part of Heineken, announced that the company's Managing Director and Chief Executive Officer, Rishi Pardal has tendered his resignation on February 16, 2023, and his six-month notice period has begun.
Seacoast Shipping Services | CMP: Rs 3.53 | The stock jumped over 3 percent after the company signed new business contract with Maria Shipping Fze., Dubai. The contract is for providing Shipping and Logistic Services at Dubai and will be effective from April 1st, 2023 for a period of one year and can be renewed further.
6/11
Pennar Industries | CMP: Rs 80.70 | The scrip surged over 9 percent after announcement that the company had won multiple orders accumulating to Rs 851 crore. The orders were secured across various verticals, including Ascent Buildings (USA), pre-engineered buildings, industrial components, railways, tubes and steel. Ascent Buildings, USA, is a step-down subsidiary of Pennar Industries, the firm said.
7/11
Power Grid | CMP: Rs 216.15 | The share price ended in the green on February 20. Power Grid Corporation of India has been declared as the successful bidder under tariff-based competitive bidding to establish inter-state transmission system for various projects on build, own operate and transfer (BOOT) basis.
8/11
Cipla | CMP: Rs 963 | The share price declined over 6 percent after the company received 'Form 483' from United States Food and Drug Administration (USFDA). The USFDA conducted a current Good Manufacturing Practices (cGMP) inspection at Cipla's Pithampur manufacturing facility from 6th – 17th February, 2023, the company said in its press release.
KEC International | CMP: Rs 485.00| The stock price added 2 percent after the company bagged new orders of Rs 3,023 crore. The Civil business has secured orders for executing infra works in the Water Pipeline and Commercial building segments in India. Its Transmission & Distribution (T&D) business has secured orders for T&D projects in Americas. And Cables business has secured orders for various types of cables in India and overseas.
10/11
Pricol | CMP: Rs 206 | The stock gained over 3 percent after automotive components manufacturer Minda Corporation acquired 15.7 percent stake or 1.91 crore equity shares in Pricol, the automotive technology and precision engineered solutions company, via open market transactions. Minda bought 1.44 crore shares in Pricol at an average price of Rs 209 per share, and another 46.49 lakh shares at an average price of Rs 208.93 per share.
11/11
Samvardhana Motherson International | CMP: Rs 81.85 | The scrip added 2 percent on February 20. The company announced the acquisition of Germany-based SAS Autosystemtechnik, a leading provider of cockpit module assemblies. The acquisition is part of Samvardhana Motherson's strategy to expand its product offerings and strengthen its position in the European market, believe analysts. At an enterprise value of €540 million, the transaction multiple of CY22 EV/EBITDA at 5.3x is reasonable, according to foreign brokerage firm Jefferies.
