The Indian equity benchmarks closed higher on June 14, with the Sensex up 0.14 percent at 63,228.51 and the Nifty up 0.21 percent at 18,755.90. As many as 1,866 shares advanced, 1,620 declined and 116 remained unchanged.
2/11
Tata Consumer Products Ltd. | CMP Rs 862.50 | Tata Consumer Products Ltd (TCPL) gained more than 5 percent on June 14 as analysts said the worst was over for the company's India tea business and they expect the stock to do well in the current fiscal. Nuvama Institutional Equities retained its “buy” rating on the Tata group company stock but raised the target price to Rs 925 from Rs 895.
3/11
Vodafone Idea Ltd. | CMP Rs 7.90 | Shares of Vodafone Idea Ltd jumped 5 percent in early trade on June 14 on reports of a Rs 14,000-crore infusion plan for the revival of the telecom. The share closed 2.6 percent above the previous day's price. Vodafone Idea is planning a capital infusion of Rs 14,000 crore, with Aditya Birla Group and UK's Vodafone Group contributing half of the amount, as part of its business revival plan. However, analysts estimate that the telecom services provider will face a cash shortfall of Rs 5,400 crore in FY24 and survival would be a challenge without a large and expedited fund-raise. In addition, Vodafone Idea owes nearly Rs 13,500 crore in vendor payments.
4/11
Somany Ceramics Ltd. | CMP Rs 704.95 | Shares of Somany Ceramics rose 6.5 percent on June 14 amid heavy trading volumes as demand for home improvement and construction activity rose in February and March after a weak Oct-Nov 2022. Centrum Capital has rated the stock as a "buy" with a target price of Rs 860.
Central Depository Services (India) Ltd. | CMP Rs 1014.00 | CDSL ended 3 percent down after 56 lakh shares worth Rs 558 crore changed hands early on June 14. The buyers and sellers of the block, representing a 5.4 percent stake, were not immediately known but dealers Moneycontrol spoke to said BSE was the likely seller. For the quarter ended March 31, 2023, CDSL's net sales came in at Rs 124.77 crore, down 8.64 percent from Rs 136.56 crore in the year-ago period. Net profit at Rs 63.10 crore was down 18.74 percent YoY.
6/11
Ramakrishna Forgings Ltd. | CMP Rs 420.50 | Ramkrishna Forgings' share price rose 2 percent after the company secured a 4.5-million-euro order from a European railway passenger coach manufacturer. Ramkrishna Forgings said the order, which has to be completed in two years, will offer the company an opportunity to expand its footprint in the European railways.
7/11
KEC International Ltd. | CMP Rs 566.80 | KEC International share price gained 6 percent in the early trade after the company secured new orders worth Rs 1,373 crore. The share touched a 52-week high of Rs 586 but pared the gains to close 2 percent higher. The railways business of the company secured orders in the technologically-enabled and conventional/emerging segments in India. Its civil business secured orders in the residential and commercial building segments.
8/11
SAT Industries Ltd. | CMP Rs 76.80 | Shares of SAT Industries jumped 6 percent after the company said Vikas Khemani’s fund bought a stake in the investment company’s material subsidiary. SAT Industries sold 40,63,337 equity shares, representing a 3.55 percent stake, held in its material subsidiary Aeroflex Industries to Carnelian Structural Fund for Rs 35.58 crore. In March 2023 quarter, the company's consolidated net sales were down a percent on year on year (YoY) basis at Rs 107.07 crore, while net profit rose 15 percent to Rs 9.63 crore.
Heranba Industries Ltd. | CMP Rs 401.75 | Shares of Heranba Industries soared 13 percent on June 14 after the Gujarat Pollution Control Board revoked its closure order for the company's facilities in Vapi. Analysts, however, said that due to global destocking and a decline in prices of pyrethroids and other insecticide molecules, the near-term outlook will continue to be challenging for Heranba Industries.
10/11
Meera Industries Ltd. | CMP Rs 49.40 | Shares of Meera Industries jumped 7 percent in early trade after the company bagged an order worth Rs 5.7 crore from a manufacturer of twisting machines. It, however, couldn't hold on to the gains and closed flat. The stock has gained 24.5 percent in a month and has a market capitalisation of Rs 54 crore.
11/11
Anupam Rasayan India Ltd. | CMP Rs 1073.30 | Anupam Rasayan India shares closed almost a percent down after gaining nearly 6 percent in the early trade after the company said it signed a $ 265 million (Rs 2,186 crore) deal with a Japanese specialty chemicals firm. This is the second such deal in as many months. In May, the company renewed a long-term contract worth $53 million (Rs 436 crore) with a German multinational.
