Zomato shares: Analysts warn of selloff risks as one-year lock-in ends soon

 Zomato shares were listed on Indian bourses at a bumper premium of more than 51 per cent.Zomato shares were listed on Indian bourses at a bumper premium of more than 51 per cent.

Zomato shares were listed on BSE and NSE on 23rd July 2021 that means one year lock-in for founders, promoters, employees, etc. is going to end next week

Zomato share price:The public offer of food service platform Zomato Limited was listed on BSE and NSE on 23rd July 2021 that means one year lock-in for promoters, employees, and other will end next week. With this one year lock-in of around 613 crore Zomato shares, which is to the tune of 78 per cent of total paid up capital of the company, stock market analysts have cautioned sell-off risk in the stock calling it an idea 'sell on rise' stock in short to medium term.

Speaking on the overhang coming on Zomato shares after the end of one year lock-in, Anuj Gupta, Vice President — Research at IIFL Securities said, "Zomato shares were listed on BSE and NSE on 23rd July 2021, which mean one year lock-in for promoters, company employees, founders of the company, etc. is going to end next week. As these shareholders constitute around 478 per cent of total paid up capital of Zomato, shares of this food service platform is expected to remain under the sell-off pressure."

Calling Zomato shares as an ideal 'sell on rise' stock in short to medium term, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "There won't be immediate sell-off taking place in the counter as the stock is trading much below its offered price of ₹72 to ₹76 per equity share. However, the sock would face immediate sell-off pressure as and when it would reach around its offered price at the time of IPO launch. So, Zomato shares are expected to remain an ideal sell on rise stock in short to medium term."

Zomato shares were listed on BSE and NSE on 23rd July 2021 at a bumper premium of more than 51 per cent. After bumper listing, Zomato shares went on to make its life-time high of ₹169 apiece levels in November 2021 breaching ₹1 trillion market cap during this post-listing rally. However, the food services stock has been under sell-off heat after climbing to its life-time high and has been making new 52-week lows for last few sessions. Zomato shares ended at ₹53.50 apiece on NSE on Thursday, which is ₹3.45 above its 52-week low of ₹50.05 per share.

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Trade setup for Tuesday, 19th July 2022: Key things to know before Opening Bell today

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India

Nifty has a strong support placed around 15,950 – 16,000 zones while on the upside resistance is placed around 16,500 – 16,580 zones, as per analysts

Sensex, Nifty rose more than 1% to hit their highest in over a month on Monday as investors scooped up beaten-down technology and metal stocks, while the rupee plumbed new lows against the dollar earlier in the session. Sensex rallied 760 points to settle at 54,521. The Nifty advanced 1.4% to 16,278.

Global market cues

Asian shares were subdued Tuesday as Japan’s bourse struggled for traction while South Korea and Australia dipped.  On the other hand, Wall Street stocks fell Monday after an early rally petered out following a report that Apple plans to trim spending and hiring.

SGX Nifty 

SGX Nifty indicates a lower start to the Indian stock market on Tuesday. Singapore Nifty (SGX Nifty) is the Indian Nifty that is traded in Singapore Stock Exchange and is considered to be the first indication of the Indian markets opening.

Nifty Technical Outlook

“Volatility index India VIX lost 2.5% on Monday and ended at 17.16. The BSE Sensex added 760 points and finished Monday’s session at 54521. Nifty has surpassed its crucial resistance zone of 16,200 – 16,250 on Monday and registered its highest closing since 9 June. On the lower side, Nifty has a strong support placed around 15,950 – 16,000 zones while on the upside resistance is placed around 16,500 – 16,580 zones," said Chinmay Barwe, Head - Technical & Derivative Research at Profitmart Securities.

“The Nifty is currently placed at the key overhead resistance of previous opening downside gap of 13 June and also last swing high of around 16,200-16,300 levels. A sustainable move above this area could pull Nifty towards further swing highs," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities

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ओप्पो ने 4389 करोड़ रुपए की कस्टम ड्यूटी की चोरी की; शाओमी, वीवो, हुवावे के बाद यह चौथा मामला

 

शाओमी, वीवो और हुवावे के बाद एक और चीनी स्मार्टफोन कंपनी जांच के दायरे में आई है।

 डायरेक्ट्रोरेट ऑफ रेवेन्यू इंटेलिजेंस (डीआरआई) ने ओप्पो इंडिया द्वारा 4,389 करोड़ रुपए की कस्टम ड्यूटी की चोरी का पता लगाया है। कंपनी ने टैक्स चोरी आयात की गलत जानकारी देकर की।

जानबूझकर गलत जानकारी देने के सबूत मिले

वित्त मंत्रालय ने बुधवार को बताया, ओप्पो मोबाइल्स चीन की ग्वांगडोंग ओप्पो मोबाइल टेलीकम्युनिकेशंस कॉरपोरेशन की सहयोगी कंपनी है। ओप्पो, वनप्लस और रियलमी ब्रांड से फोन बेचती है।

 डीआरआई ने जांच के दौरान ओप्पो इंडिया के कई परिसरों और मैनेजमेंट के अधिकारियों के घर छापेमारी की थी। इस दौरान मोबाइल बनाने के आयातित सामान के बारे में जानबूझकर गलत जानकारी देने के सबूत मिले थे।

वीदिल्ली हाई कोर्ट ने वीवो मोबाइल इंडिया से कहा, यदि वह प्रवर्तन निदेशालय (ईडी) द्वारा फ्रीज किए गए 119 बैंक खाते चलाना चाहती है तो उसे 950 करोड़ रुपए की बैंक गारंटी देनी होगी। साथ ही इन खातों में 251 करोड़ रुपए का बैलेंस हमेशा रखना होगा। ईडी ने मनी लॉन्ड्रिंग की जांच के सिलसिले में 5 जुलाई को वीवो और इससे जुड़ी 23 कंपनियों के देशभर में 48 ठिकानों पर छापेमारी की थी।

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HCL Technologies inches up on entering into global strategic alliance with Alteryx

HCL Technologies is currently trading at Rs. 962.20, up by 2.70 points or 0.28% from its previous closing of Rs. 959.50 on the BSE.

The scrip opened at Rs. 965.00 and has touched a high and low of Rs. 969.45 and Rs. 950.20 respectively. So far 472951 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1073.55 on 13-Jan-2021 and a 52 week low of Rs. 375.50 on 19-Mar-2020.

Last one week high and low of the scrip stood at Rs. 973.55 and Rs. 896.10 respectively. The current market cap of the company is Rs. 261258.11 crore.

The promoters holding in the company stood at 60.33%, while Institutions and Non-Institutions held 35.21% and 4.46% respectively.

HCL Technologies (HCL) has entered into a global strategic alliance with Alteryx to help companies across the globe succeed in their analytics automation and digital transformation priorities. As part of this strategic engagement, HCL has also been named an Alteryx Elite Alliance Partner.

With HCL’s broad expertise in transforming IT and lines-of-business, the alliance will also accelerate Alteryx usage in Amazon AWS and Microsoft Azure to meet customers’ hybrid cloud modernization needs and strengthen HCL’s portfolio of data science and transformative analytics automation. In addition, HCL’s rapidly growing digital and analytics services will accelerate the digital journey of knowledge workers in the Global 2000 with Alteryx’s unique ease-of-use and unified analytics, data science and process automation capabilities.

HCL Technologies is a leading global IT services company that helps global enterprises reimagine and transform their businesses through digital technology transformation.

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PNB Housing Finance jumps on planning tie-ups with banks for co-lending in housing loan sector

PNB Housing Finance is currently trading at Rs. 343.65, up by 8.80 points or 2.63% from its previous closing of Rs. 334.85 on the BSE.

The scrip opened at Rs. 335.00 and has touched a high and low of Rs. 347.20 and Rs. 335.00 respectively. So far 3944 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 464.25 on 06-Feb-2020 and a 52 week low of Rs. 146.00 on 26-Mar-2020.

Last one week high and low of the scrip stood at Rs. 372.70 and Rs. 325.25 respectively. The current market cap of the company is Rs. 5779.93 crore.

The promoters holding in the company stood at 32.65%, while Institutions and Non-Institutions held 28.01% and 39.34% respectively.

PNB Housing Finance is looking at forging tie-ups with some banks for co-lending in the housing loan sector and is hopeful that these partnerships will be win-win for consumers, banks and NBFCs.

In November 2020, the RBI had allowed the co-lending scheme for banks under which they can co-lend with the non-banking finance companies (NBFCs), including the housing finance companies (HFCs), based on a prior agreement.

PNB Housing Finance is a registered housing finance company with National Housing Bank (NHB). They provide housing loans to individuals and corporate bodies for construction, purchase, repair and up-gradation of houses.

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Shriram Transport Finance trades jubilantly on planning to raise funds

Shriram Transport Finance is currently trading at Rs. 1269.90, up by 158.55 points or 14.27% from its previous closing of Rs. 1111.35 on the BSE.

The scrip opened at Rs. 1180.00 and has touched a high and low of Rs. 1270.35 and Rs. 1166.40 respectively. So far 309776 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1331.36 on 24-Feb-2020 and a 52 week low of Rs. 428.56 on 23-Mar-2020.

Last one week high and low of the scrip stood at Rs. 1270.85 and Rs. 1097.80 respectively. The current market cap of the company is Rs. 30935.50 crore.

The promoters holding in the company stood at 26.48%, while Institutions and Non-Institutions held 67.16% and 6.36% respectively.

Shriram Transport Finance Company (STFC) is considering raising of funds by way of issue of debt securities in onshore/offshore market by private placement basis and/or public issue subject to market conditions. In this regard the meeting(s) of the Banking and Finance Committee/Debt Issuance Committee / Bond Issuance Committee will be held to consider and approve such issuances of debt securities during the month ending February 28, 2021.

Shriram Transport Finance Company is a flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC.

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Tata Elxsi shines on collaborating with Syntiant Corporation

Tata Elxsi is currently trading at Rs. 2624.70, up by 146.65 points or 5.92% from its previous closing of Rs. 2478.05 on the BSE.

The scrip opened at Rs. 2500.00 and has touched a high and low of Rs. 2635.00 and Rs. 2500.00 respectively. So far 56644 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2849.50 on 21-Jan-2021 and a 52 week low of Rs. 501.00 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 2849.50 and Rs. 2410.25 respectively. The current market cap of the company is Rs. 15949.00 crore.

The promoters holding in the company stood at 44.53%, while Institutions and Non-Institutions held 17.44% and 38.03% respectively.

Tata Elxsi has collaborated with Syntiant Corporation, a deep learning chip technology company, to help manufacturers design and develop low-power always-on voice applications across multiple product categories, such as smart home devices and consumer electronics, as well as industrial and automotive use cases.

The agreement between Tata Elxsi and Syntiant aims to provide end-to-end solutions and services for customers using Syntiant’s deep learning Neural Decision Processors to enable low-power AI optimization in edge devices easily. The companies can deliver a turnkey solution that brings low latency, highly accurate inference to near- and far-field voice applications, including speaker identification, keyword spotting, multiple wake words, event detection, and local commands recognition.

Tata Elxsi is a global design and technology Services Company and works with customers across industries such as automotive, broadcast, healthcare and telecom for product and software development.

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Hero MotoCorp shines on surpassing 100 million cumulative production milestone

Hero MotoCorp is currently trading at Rs. 3406.00, up by 160.25 points or 4.94% from its previous closing of Rs. 3245.75 on the BSE.

The scrip opened at Rs. 3279.95 and has touched a high and low of Rs. 3426.00 and Rs. 3265.50 respectively. So far 35689 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 3,426.00 on 22-Jan-2021 and a 52 week low of Rs. 1475.00 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 3426.00 and Rs. 3084.00 respectively. The current market cap of the company is Rs. 67341.66 crore.

The promoters holding in the company stood at 34.76%, while Institutions and Non-Institutions held 55.87% and 9.37% respectively.

Hero MotoCorp has surpassed the significant milestone of 100 Million (10 crore) units in cumulative production. The 100 millionth bike, the Xtreme 160R, was rolled-out of the Company’s manufacturing facility in Haridwar, in the northern Indian hill state of Uttarakhand.

Hero MotoCorp is the world’s largest manufacturer of motorcycles and scooters.

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L&T Finance Holdings declines on reporting 51% fall in Q3 consolidated net profit

L&T Finance Holdings is currently trading at Rs. 99.55, down by 5.55 points or 5.28% from its previous closing of Rs. 105.10 on the BSE.

The scrip opened at Rs. 102.90 and has touched a high and low of Rs. 103.55 and Rs. 98.65 respectively. So far 1120006 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 134.00 on 11-Feb-2020 and a 52 week low of Rs. 46.00 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 108.60 and Rs. 98.65 respectively. The current market cap of the company is Rs. 20000.88 crore.

The promoters holding in the company stood at 63.65%, while Institutions and Non-Institutions held 14.63% and 21.72% respectively.

The company has reported net loss of Rs 27.63 crore for the third quarter ended December 31, 2020 as against net loss of Rs 25.43 crore for the same quarter in the previous year. Total income of the company decreased by 51.07% at Rs 21.01 crore for Q3FY21 as compared Rs 42.94 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported 50.82% fall in its net profit attributable to owners at Rs 290.66 crore for the quarter under review as against net profit of Rs 591.03 crore for the same quarter in the previous year. Total income of the company decreased by 3.04% at Rs 3622.16 crore for Q3FY21 as compared Rs 3735.79 crore for the corresponding quarter previous year.

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Tata Motors trades higher on commencing production of upcoming flagship SUV Safari

Tata Motors is currently trading at Rs. 245.70, up by 0.55 points or 0.22% from its previous closing of Rs. 245.15 on the BSE.

The scrip opened at Rs. 246.35 and has touched a high and low of Rs. 249.50 and Rs. 242.50 respectively. So far 3934445 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 249.80 on 14-Jan-2021 and a 52 week low of Rs. 63.60 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 249.80 and Rs. 199.55 respectively. The current market cap of the company is Rs. 75880.64 crore.

The promoters holding in the company stood at 42.39%, while Institutions and Non-Institutions held 28.33% and 17.81% respectively.

Tata Motors has commenced production of its upcoming flagship SUV Safari. The auto major rolled out the first Safari unit from its Pune-based manufacturing facility.

Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.

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Equitas Small Finance Bank jumps after its deposits increase 51% YoY in Q3FY21

Equitas Small Finance Bank is currently trading at Rs. 40.60, up by 1.15 points or 2.92% from its previous closing of Rs. 39.45 on the BSE.

The scrip opened at Rs. 41.00 and has touched a high and low of Rs. 41.70 and Rs. 40.25 respectively. So far 203624 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 42.30 on 07-Jan-2021 and a 52 week low of Rs. 30.10 on 02-Nov-2020.

Last one week high and low of the scrip stood at Rs. 42.30 and Rs. 37.20 respectively. The current market cap of the company is Rs. 4621.30 crore.

Equitas Small Finance Bank’s total deposits stood at Rs 15,862 crore (provisional) as of December 31, 2020 (Q3FY21), up 23% QoQ from Rs 12,901 crore as of September 30, 2020 and up 51% year on year (YoY)  from Rs 10,493 crore as of December 31, 2019. Gross Advances stood at Rs 17,385 crore (provisional) as of December 31, 2020, up 4% QoQ from Rs 16,731 crore as of September 30, 2020 and up 19% YoY from Rs 14,615 crore as of December 31, 2019.

CASA was at Rs 3,967 crore (provisional) as of December 31, 2020, up 22% QoQ from Rs 3,246 crore as of September 30, 2020 and up 81% YoY from Rs 2,196 crore as of December 31, 2019. CASA Ratio stood at 25% (provisional) as of December 31, 2020 as against 25% as of September 30, 2020 and 21% as of December 31, 2019.

Equitas Small Finance Bank offers personalised services and helps finds the right product to suit individual banking requirements for their savings.

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Ashok Leyland jumps on reporting 14% rise in December sales

Ashok Leyland is currently trading at Rs. 103.60, up by 4.50 points or 4.54 % from its previous closing of Rs. 99.10 on the BSE.

The scrip opened at Rs. 99.60 and has touched a high and low of Rs. 104.40 and Rs. 99.60 respectively. So far 2111334 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 102.05 on 17-Dec-2020 and a 52 week low of Rs. 33.70 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 99.90 and Rs. 93.70 respectively. The current market cap of the company is Rs. 30470.77 crore.

The promoters holding in the company stood at 51.54 % while Institutions and Non-Institutions held 32.24 % and 16.23 % respectively.

Ashok Leyland has reported sales figures for the month of December 2020. The company has reported marginal rise of 14% in sales (domestic + exports) during December 2020 at 12762 units as against 11168 units in December 2019. LCV sales were up 42% Y-o-Y at 5878 units in December 2020 as against 4143 units in December 2019. M&HCV Trucks and bus sales stood at 6235 units and 649 units, respectively.

Domestic sales rose 14% Y-o-Y in December 2020 to 11857 units as compared to 10378 units in December 2019. Domestic LCV sales increased 42% Y-o-Y to 5682 units, as compared to 4009 units in December 2019.

Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components. The company’s products include buses, trucks, engines, defense and special vehicles.

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Shriram Transport Finance trades higher on raising Rs 240 crore through NCDs

Shriram Transport Finance is currently trading at Rs. 1041.65, up by 2.70 points or 0.26% from its previous closing of Rs. 1038.95 on the BSE.

The scrip opened at Rs. 1053.00 and has touched a high and low of Rs. 1053.00 and Rs. 1032.90 respectively. So far 30118 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1331.80 on 24-Feb-2020 and a 52 week low of Rs. 428.70 on 23-Mar-2020.

Last one week high and low of the scrip stood at Rs. 1055.30 and Rs. 998.85 respectively. The current market cap of the company is Rs. 26222.23 crore.

The promoters holding in the company stood at 26.48%, while Institutions and Non-Institutions held 64.91% and 8.60% respectively.

Shriram Transport Finance Company has raised Rs 240 crore through Senior, secured, rated, listed, redeemable, non convertible debentures (NCDs) and allotted 2400 Debenture having face value of Rs 10,00,000 each on private placement basis. The board of directors of the company at its meeting held on November 30, 2020 approved and allotted the same.

Shriram Transport Finance Company is a flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC.

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UltraTech Cement gains on planning to raise Rs 1,000 crore via NCDs

Ultratech Cement is currently trading at Rs. 5090.00, up by 48.20 points or 0.96% from its previous closing of Rs. 5041.80 on the BSE.

The scrip opened at Rs. 5081.10 and has touched a high and low of Rs. 5098.00 and Rs. 5055.45 respectively. So far 2063 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 5257.90 on 09-Dec-2020 and a 52 week low of Rs. 2913.15 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 5188.05 and Rs. 4865.45 respectively. The current market cap of the company is Rs. 146660.74 crore.

The promoters holding in the company stood at 59.91%, while Institutions and Non-Institutions held 30.76% and 8.79% respectively.

UltraTech Cement is considering a proposal to raise funds by issuance of 10,000 rated, listed, non-convertible, redeemable, unsecured Non-convertible debentures(NCDs) of Rs 10,00,000 each aggregating to Rs 1,000 crore, on private placement basis, including the terms and conditions of the issue, on or after December 30, 2020. 

UltraTech Cement is the largest manufacturer of grey cement, ready mix concrete (RMC) and white cement in India.

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Larsen & Toubro Infotech surges on eyeing significant share of UAE digital services market

Larsen & Toubro Infotech is currently trading at Rs. 3415.15, up by 63.75 points or 1.90% from its previous closing of Rs. 3351.40 on the BSE.

The scrip opened at Rs. 3384.00 and has touched a high and low of Rs. 3445.00 and Rs. 3363.40 respectively. So far 6304 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3515.15 on 12-Oct-2020 and a 52 week low of Rs. 1207.60 on 19-Mar-2020.

Last one week high and low of the scrip stood at Rs. 3445.00 and Rs. 3215.50 respectively. The current market cap of the company is Rs. 59808.44 crore.

The promoters holding in the company stood at 74.36%, while Institutions and Non-Institutions held 17.62% and 8.02% respectively.

Larsen & Toubro Infotech (LTI), which extended an alliance with Abu Dhabi-based Injazat recently, is eyeing a significant share of the UAE digital services market to the tune of $ 200 million in six years of the partnership. In the first week of December, LTI extended its existing partnership with the UAE company under which it roll out a service delivery model.

LTI is a global technology consulting and digital solutions company helping more than 420 clients succeed in a converging world.

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Axis Bank sticks to its caution script and so do its investors

In an update on its retail book, the private sector lender’s executives said delinquencies may spike in the third and fourth quarter of the current financial year

Axis Bank hasn't been able to bridge the valuation gap even with the sector index in a sign that investors share the bank’s caution

Things may get worse before they get better. That, in a nutshell, seems to be the message from Axis Bank’s management.

In an update on its retail book through a media interaction, the private sector lender’s executives said delinquencies may spike in the third and fourth quarter of the current financial year. To be sure, the lender has reported a sharp improvement in collections, just like its peers. Collection efficiency surged to 95% after the moratorium ended in August and gross bad loans were down to 4.18% of total loan book for the September quarter.

But the commentary from the management has been more cautious than that of rivals such as HDFC Bank and ICICI Bank. Even in Thursday’s media interaction, the management stuck to caution. The bank is right in its guarded approach. Economic indicators have been mixed, with some sectors still showing pain. Employment and wages have taken a huge hit and the recovery in both is patchy. The Reserve Bank of India’s (RBI's) consumer sentiment survey has shown that Indians remain pessimistic over future employment and income prospects. “Given the fact that a lot of people lost their jobs, some had to take salary cuts and some industries were badly affected, these will have some impact on delinquency and portfolio collections," said Sumit Bali, head of retail lending at Axis Bank at Thursday’s interaction.

Small businesses continue to remain under stress, and asset quality here is only propped up due to the government’s guarantee schemes and regulatory forbearance. Once they are removed, it would be challenging for lenders to maintain current asset quality metrics. Analysts have pointed out that bad loans in the micro, small and medium enterprises (MSMEs) loan book may increase in coming quarters.

That is not to say that Axis Bank sees pain even in FY22. In fact, the lender has stressed that asset quality metrics may see improvement in the next financial year. Most of its peers, too, have indicated the same and the recent rally in banking shares show that investors share this optimism.

Axis Bank’s shares, too, have rallied in tandem with others in the past three months. However, the stock has underperformed peers such as ICICI Bank and HDFC Bank since January. It has not been able to bridge the valuation gap even with the sector index. Perhaps this is a sign that investors share the bank’s caution.

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Dr. Reddy’s Lab gains on entering into definitive agreement with Glenmark Pharmaceuticals

Dr. Reddys Laboratories is currently trading at Rs. 4839.65, up by 10.05 points or 0.21% from its previous closing of Rs. 4829.60 on the BSE.

The scrip opened at Rs. 4861.15 and has touched a high and low of Rs. 4868.00 and Rs. 4820.05 respectively. So far 6001 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 5514.65 on 21-Sep-2020 and a 52 week low of Rs. 2497.60 on 19-Mar-2020. 

Last one week high and low of the scrip stood at Rs. 5018.70 and Rs. 4673.90 respectively. The current market cap of the company is Rs. 80309.00 crore.

The promoters holding in the company stood at 26.74%, while Institutions and Non-Institutions held 43.50% and 15.66% respectively.

Dr. Reddy’s Laboratories has entered into a definitive agreement with Glenmark Pharmaceuticals to acquire, subject to completion of certain precedent actions and closing activities, brands Momat Rino (for Russia, Kazakhstan and Uzbekistan), Momat Rino Advance (for Russia), Momat A (for Kazakhstan and Uzbekistan), Glenspray and Glenspray Active (for Ukraine), along-with rights to the trademarks, dossiers and patents for the territories mentioned.

The acquired brands represent two types of products i.e mometasone mono product and combination of mometasone with azelastine, and are indicated for the treatment of Seasonal and Perennial Allergic Rhinitis.

Dr. Reddy's Laboratories is a multinational pharmaceutical company based in Hyderabad, Telangana in India. It manufactures and markets a wide range of pharmaceuticals in India and overseas.

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AU Small Finance Bank moves up on selling 4.46% stakes in Aavas Financiers

AU Small Finance Bank is currently trading at Rs. 885.10, up by 15.90 points or 1.83% from its previous closing of Rs. 869.20 on the BSE.

The scrip opened at Rs. 882.00 and has touched a high and low of Rs. 890.65 and Rs. 879.20 respectively. So far 3174 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1217.70 on 02-Mar-2020 and a 52 week low of Rs. 366.20 on 27-May-2020.

Last one week high and low of the scrip stood at Rs. 944.60 and Rs. 865.45 respectively. The current market cap of the company is Rs. 26975.50 crore.

The promoters holding in the company stood at 29.00%, while Institutions and Non-Institutions held 46.14% and 24.86% respectively.

AU Small Finance Bank has sold 35,00,000 equity shares face value of Rs 10 each held in Aavas Financiers (AAVAS) constituting 4.46% of paid up capital of Company. Post aforesaid sale the balance shareholding stands at 3,383 equity shares in AAVAS.

AU Small Finance Bank is a small finance bank (SFB) that has recently transitioned from a prominent, retail focused nonbanking finance company (NBFC), which primarily served low and middle-income individuals and businesses that have limited or no access to formal banking and finance channels.

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Vodafone Idea zooms after selling 11.15% stake in Indus

Vodafone Idea is currently trading at Rs. 9.66, up by 0.39 points or 4.21% from its previous closing of Rs. 9.27 on the BSE.

The scrip opened at Rs. 9.60 and has touched a high and low of Rs. 9.70 and Rs. 9.50 respectively. So far 35704938 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 13.45 on 04-Sep-2020 and a 52 week low of Rs. 2.83 on 18-Feb-2020.

Last one week high and low of the scrip stood at Rs. 10.02 and Rs. 8.79 respectively. The current market cap of the company is Rs. 27787.12 crore.

The promoters holding in the company stood at 72.05%, while Institutions and Non-Institutions held 7.11% and 20.84% respectively.

Vodafone Idea has sold its 11.15% stake in Indus for a cash consideration of Rs 37.6 billion in accordance with the terms of the agreement and out of the consideration received from Infratel, the Company has made a prepayment of Rs 24 billion which will be adjusted in line with terms of the agreement.

Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.

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L&T surges on bagging order for Construction and Mining Equipment Businesses

Larsen & Toubro is currently trading at Rs. 1106.55, up by 25.30 points or 2.34% from its previous closing of Rs. 1081.25 on the BSE.

The scrip opened at Rs. 1081.00 and has touched a high and low of Rs. 1109.80 and Rs. 1079.35 respectively. So far 123708 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1417.50 on 21-Nov-2019 and a 52 week low of Rs. 661.05 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 1116.00 and Rs. 1038.60 respectively. The current market cap of the company is Rs. 155703.98 crore.

The Institutions holding in the company stood at 53.94%, and Non-Institutions held 46.06%.

Larsen & Toubro (L&T) has bagged biggest order ever for its Construction and Mining Equipment Businesses to supply 46 units of Komatsu Mining Equipment from Tata Steel. The order comprises of 41 units of Komatsu HD785-7 (100 Ton Dump Truck), three units of Komatsu WA900-3E0 (9 Cum Wheel Loader) and two units of Komatsu D275A-5R (410HP Crawler Dozer). The scope includes supply of equipment and full maintenance contract for 60,000 hours of equipment operation.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

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