The Indian equity benchmarks closed at a record high on June 16, with the Sensex up 0.74 percent at 63,384.58 and Nifty 0.74 percent at 18,826.00. As many as 2,047 shares advanced, 1,387 declined, and 120 remained unchanged.
2/11
FSN E-Commerce Ventures Ltd | CMP Rs 144.35 | Shares of FSN E-Commerce Ventures, which operates Nykaa, zoomed around 5 percent to Rs 144.85 on BSE in the late trade after the company talked at length about emerging growth areas on its investor day. The company said it has been working to generate revenue from its innerwear product line Nykd, which is showing signs of promise. In just two years of operation, the product has reached annual revenue of Rs 85 crore and is EBITDA positive. Another product line Kay has also shown promise, it said, adding that gross merchandise value (GMV) grew by 75 percent YoY in FY23 to Rs 128 crore.
3/11
PVR INOX Ltd. | CMP Rs 1450.95 | Shares of PVR INOX fell 3 percent on June 16 despite analysts expecting "Adipurush" release to pull up share prices and the company’s revenue. In the quarter ended March, the merged entity of PVR-Inox reported its first-ever quarterly numbers and it turned out to be a flop show, with the multiplex chain sinking into a loss of Rs 333 crore and revenue from operations at Rs 1,143 crore. The numbers cannot be compared sequentially or on a year-on-year basis, as PVR and Inox were separate entities then.
4/11
HDFC Life Insurance Company Ltd. | CMP Rs 609.55 | Shares of HDFC Life jumped 5.4 percent on June 16 after top management reported a 1.8x to 2x growth in the private sector insurer. The HDFC Life Insurance Company Ltd stock has given a return of 6.22 percent over the last six months against Nifty's 2.68 percent during the same period.
Ashok Leyland Ltd. | CMP Rs 164.40 | Shares of Ashok Leyland surged 4.5 percent on June 16, a day after an investors’ meeting saw most analysts raise the target price for the stock as they remain bullish on the automotive company. Ashok Leyland has an "overweight" rating from Morgan Stanley and JP Morgan and a "buy" rating from Motilal Oswal, Nuvama and JM Finance. The stock has gained nearly 10 percent this year, while advancing nearly 17 percent since March 28 when the rally started in the market.
6/11
Kalyan Jewellers India | CMP Rs 131.10 | Shares of Kalyan Jewellers India jumped 15 percent on June 16 after a large trade. Around 6.4 crore shares, representing 6.2 percent equity, changed hands in six block deals. In Q4 of FY23, the company's consolidated net sales rose 18 percent YoY to Rs 3,381.80 crore whereas profit after tax was down 3 percent at Rs 70.09 crore.
7/11
Paras Defence and Space Technologies Ltd. | CMP Rs 577.90 | Shares of Paras Defence and Space Technologies zoomed nearly 4 percent after the company bagged an order worth Rs 53 crore from the Ministry of Defence for the supply of Optronic Periscopes. Earlier this month, the company signed a joint venture agreement with CONTROP Precision Technologies in the electro-optic infra-red field. The stock has jumped around 21 percent in the past three months, with positive earnings performance in the March quarter also aiding sentiment.
8/11
PNC Infratech Ltd. | CMP Rs 336.75 | Shares of PNC Infratech gained 4 percent after monetisation of the firm's road assets made analysts consider re-rating. The market buzz is that PNC Infratech is in advanced discussions to sell 12 road assets to KKR's roads platform Highways Infrastructure Trust for an enterprise value of about Rs 9,000 crore. The company is targeting an order inflow of Rs 10,000-12,000 crore in FY24. The current order book remains strong at Rs 20,530 crore, which is three times its FY23 revenue and provides strong revenue visibility in the coming years.
Eureka Forbes Ltd. | CMP Rs 566.00 | Shares of Eureka Forbes surged 7 percent. The home appliances company has reported a 346 percent year-on-year jump in its consolidated net profit to Rs 20.59 crore for the quarter ended March 2023. The company posted its results on May 30 and the stock has appreciated 30 percent since then.
10/11
MIC Electronics Ltd. | CMP Rs 23.70 | MIC Electronics share price was locked in a 5 percent upper circuit as the company bagged two orders from Salem Railway Division for the passenger information system in connection with Amrit Bharat Scheme over a period of five years. The aggregate value of the said order is Rs 5.13 crore.
11/11
Rites Ltd. | CMP Rs 398.55 | Shares of Rites Ltd jumped 5.3 percent after signing of $81-mllion (Rs 665 crore) contract agreement with National Railways of Zimbabwe (NRZ) for the supply of rolling stock. Rites Ltd stock has given a return of 6.96 percent over the last six months. The benchmark Nifty50 index has given a return of 2.74 percent over the same duration.
