Indian benchmark indices were mixed after the Sensex and Nifty hit all-time highs on June 19. At the close, the Sensex was up 36 points, or 0.05 per cent, while the Nifty was down 41 points, or 0.1 per cent, at 23,516. The market was in a bearish trend as around 1,465 stocks advanced, 1,930 declined and 65 stocks remained unchanged.
Zomato | CMP: Rs 198 | Zomato shares gained 5 per cent after the company's intention to buy Paytm's ticketing business got strong support from brokerages. The target price for Zomato has now moved up to Rs 280, implying a potential upside of 48 per cent from the June 18 closing price.
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Defence stocks | Shares of Bharat Dynamics (BDL), Hindustan Aeronautics (HAL) and Bharat Electronics (BEL) fell up to 5 per cent as investors booked profits after a steady rise in recent trading sessions.
Paytm | CMP: Rs 410 | Fintech stocks continued to decline for the third consecutive session, falling as much as 2.5 per cent, after Emkay Note highlighted the risk of customer movement if the deal with Zomato for movies and event ticketing business goes through.
Ami Organics | CMP: Rs 1,370 per share | The stock jumped up to 5 per cent 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, the company said in a stock exchange filing.
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Sona BLW Precision | CMP: Rs 643 | Sona BLW shares jumped over 3 per cent after the company received certification for traction motors for electric three-wheelers from the Ministry of Heavy Industries under the Production-Linked Incentive (PLI) scheme.
Raymond | CMP: Rs 2,448 | Raymond shares fell 2 per cent after proxy advisory firm Institutional Investor Advisory Services urged Raymond shareholders to vote against the re-election of Gautam Singhania as chairman and managing director (CMD) ahead of the company's annual general meeting (AGM) scheduled on June 27.
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Kalyan Jewellers | CMP: Rs 423 | Shares turned down after gaining as much as 5.4 per cent intraday on June 19 after brokerage Motilal Oswal initiated coverage with a 24 per cent bullish call. The brokerage noted that the firm’s asset-light model (as a result of its franchisees) was ideal for generating cash flows to service its Rs 600-crore debt over the next two years.
Indus Towers | CMP: Rs 334 | Shares fell 2.8 per cent after Vodafone Group sold 18 per cent stake in the company for Rs 15,300 crore through a block deal. The company plans to use this to repay its existing lenders. Meanwhile, the company's ownership in Indus Towers also came down to 3.1 per cent after the stake sale.
ZF Commercial Vehicle Control Systems | CMP: Rs 16,099 | Shares fell 7 per cent on the exchanges after a block deal worth Rs 2,287 crore. WABCO Asia Pvt Ltd was the prospective seller which sold around 14.45 lakh shares or 7.6 equity stake in ZF Commercial through the block deal. Moreover, reports also suggested that after the equity sale, a lock-in period of 120 days will also kick in for the remaining stake held by WABCO Asia.
Sansera Engineering | CMP: Rs 1,274 | Shares gained over 5 per cent after multiple block deals totalling Rs 750.40 crore. About 62.53 lakh shares representing 11.6 per cent stake in Sansera Engineering were sold through block deals, with two investors – Client Ebene and CVCIGP II Employee Ebene – being the potential sellers.
