Indian benchmark indices settled on a mixed note on June 19 after Sensex and Nifty hit an all-time high. At close, Sensex was up 36 points or 0.05 percent, while Nifty was down 41 points or 0.1 percent to 23,516. The market breadth steered towards losers as around 1,465 shares advanced, 1,930 shares declined, and 65 shares unchanged.
Zomato | CMP: Rs 198 | Shares of Zomato gained 5 percent as the company’s intention to acquire Paytm’s ticketing business received strong endorsements from brokerages. Target prices for Zomato are now as high as Rs 280, implying a 48 percent potential upside from June 18 closing price.
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Defence stocks | Shares of Bharat Dynamics (BDL), Hindustan Aeronautics (HAL) and Bharat Electronics (BEL) experienced declines of up to 5 percent as investors engaged in profit booking after a relentless rally in recent trading sessions.
Paytm | CMP: Rs 410 | Shares of the fintech extended losses for a third straight session, falling up to 2.5 percent, with an Emkay note highlighting the risk to customer traffic if a deal with Zomato for the movies and event ticketing business goes through.
Ami Organics | CMP: Rs 1,370 per share | The stock surged up to 5 percent on June 19 after it launched a QIP (qualified institutional placement) to raise up to Rs 500 crore. The company is offering shares in the QIP at a floor price of Rs 1,228.71 per equity share, it said in a stock exchange filing.
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Sona BLW Precision | CMP: Rs 643 | Sona BLW shares jumped over 3 percent after the firm received certification for its traction motor for electric three wheelers from the Ministry of Heavy Industries under a Production-Linked Incentive (PLI) scheme.
Raymond | CMP: Rs 2,448 | Raymond shares sank two percent after proxy advisory firm Institutional Investor Advisory Services urged Raymond shareholders to vote against the re-election of Gautam Singhania as the Chairman and Managing Director (CMD), ahead of the firm’s AGM scheduled on June 27.
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Kalyan Jewellers | CMP: Rs 423 | Shares settled lower after rising up to 5.4 percent intraday on June 19 after brokerage Motilal Oswal initiated coverage with a buy call, seeing a 24 percent upside. The brokerage noted that the firm’s asset-light model (as a result of its franchises) was ideal to generate cash flow to repay its Rs 600 crore debt over the next two years.
Indus Towers | CMP: Rs 334 | Shares slumped 2.8 percent after Vodafone Group offloaded an 18 percent stake in the company Rs 15,300 crore through block deals. The company plans to use to repay its existing lenders. Meanwhile, the company’s ownership in Indus Towers also reduced to 3.1 percent post the stake sale.
ZF Commercial Vehicle Control Systems | CMP: Rs 16,099 | Shares tanked 7 percent after a block deal worth Rs 2,287 crore took place on the exchanges. Wabco Asia Private Ltd was the likely seller that offloaded around 14.45 lakh shares or a 7.6 equity stake in ZF Commercial through the block deal. In addition, reports also suggested that post the equity sale, a lock-in period of 120 days will also be triggered for the remaining stake held by Wabco Asia.
Sansera Engineering | CMP: Rs 1,274 | Shares rose over 5 percent after multiple block deals worth a total of Rs 750.40 crore. Around 62.53 lakh shares, representing an 11.6 percent stake in Sansera Engineering were sold through the block deals, with two investors–Client Ebene and CVCIGP II Employee Ebene being the likely sellers.
