The Indian equity benchmarks closed in green on December 27, Sensex was up 0.98 percent at 72038.43, and the Nifty was up 1.00 percent at 21654.80. About 1,892 shares advanced, 1,776 shares declined and 105 shares remained unchanged.
2/11
Kansai Nerolac Paints Ltd | CMP Rs 337.55 | Shares of Nerolac surged nearly 4 percent on December 27 following the company's approval of a plan for the monetisation of idle land parcels that have not been utilised for productive purposes. The stock also hit a 52-week high of Rs 355 per share on the same day. So far this year, the stock of the paint manufacturer has surged more than 11 percent as against a 17 percent rise in the benchmark Sensex. Earlier, analysts at Prabhudas Lilladher shared an 'accumulate' rating for Kansai Nerolac, with a target price of Rs 370 per share.
3/11
SJVN Ltd | CMP Rs 92.90 | Shares of SJVN jumped 1.5 percent on December 27 on bagging a 100-MW solar power project from Gujarat Urja Vikas Nigam Limited (GUVNL). The state-run company has secured the 100-MW solar power project from Gujarat Urja Vikas Nigam (GUVNL) worth Rs 2.63 per unit on a build, own and operate (BOO) basis, it said in a BSE filing on December 26. However, Goldman Sachs has given hydroelectric power producer SJVN a double downgrade to ‘sell’ from ‘buy’ in a recently released report with a target price of Rs 65.
4/11
Zydus Lifesciences Ltd | CMP Rs 688.65 | Shares of Zydus Lifesciences Limited ended nearly 2 percent higher on December 27 recovering from early declines after the company’s announcement that its wholly owned subsidiary Zydus Healthcare Ltd has received a demand notice of Rs 284.58 crore under Section 143(1) of the Income Tax Act, 1961. The income tax department's Centralised Processing Centre (CPC) issued an intimation pointing out apparent errors in the processing of ZHL's income tax return for the assessment year 2023-24, the company said in an exchange filing on December 27.
5/11
RBZ Jewellers Ltd | CMP Rs 105.00 | Ahmedabad-based RBZ Jewellers surged 5 percent on debut on bourses on December 27 in line with analyst expectations. The company's Rs 100-crore IPO was subscribed 16.86 times. Retail investors showcased maximum interest as they bought 24.74 times their allotted quota while high net-worth individuals picked 9.27 times the reserved portion. On the other hand, qualified institutional buyers picked 13.43 times their reserved portion. The fresh proceeds will be utilised primarily for working capital requirements of Rs 80.75 crore. The remaining funds will be kept for general corporate purposes.
6/11
Credo Brands Marketing Ltd | CMP Rs 312.20 | Mufti covered up for its lacklustre debut on the bourses on December 27 as it ended over 11 percent higher as against the issue price of Rs 280. While analysts had expected a 25-35 percent gain, the grey market premium had subdued before the listing. The Rs 550-crore public issue was subscribed 51.85 times during December 19-21. Qualified institutional buyers bought 104.95 times the portion set aside for them, while the allotted quota of high networth individuals was subscribed 55.52 times; retail investors subscribed 19.94 times.
7/11
Happy Forgings Ltd | CMP Rs 1,030.80 | Heavy forgings manufacturer Happy Forgings Ltd shares opened 18 percent higher on debut on December 27 after its initial public offering subscribed 82 times last week. The Rs 1,009 crore IPO opened for subscription on December 19 and closed on December 21. Retail investors bought 15.09 times and high net-worth individuals picked 62.17 times the allotted quota, while qualified institutional buyers (QIBs) picked 220.48 times their reserved portion. Happy Forgings plans to use proceeds for equipment acquisition (Rs 171.1 crore) and debt repayment (Rs 152.76 crore), with the remainder for general corporate purposes.
8/11
Electro Force India Ltd | CMP Rs 105.00 | Shares of Electro Force India Ltd ended 13 percent higher on listing debut on December 27 after its public issue was subscribed over 4.3 times last week. The Rs 80.68-crore public issue opened for subscription on December 19 and closed on December 21. The firm reported a revenue of Rs 30.29 crore in FY23 against Rs 34.44 crore a year ago. Net profit for the year stood at Rs 7.80 crore against Rs 8.64 crore a year ago.
9/11
Larsen & Toubro Ltd | CMP Rs 3,544.00 | Shares of Larsen & Toubro climbed 1.5 percent on December 27 after the company bagged a major order for the Amaala project in the Red Sea region of Saudi Arabia. The order, under the engineering, procurement and construction (EPC) type is for establishing various systems related to renewable energy generation and utilities. The stock also hit a new record high of Rs 3,549.00 on the same day. L&T's order book stood at Rs 4,50,700 crore in the first half of FY24, up 22 percent on-year from the previous fiscal. Though the company recorded a decline in domestic orders in Q2, it was offset by a substantial increase in offshore contracts.
10/11
UltraTech Cement Ltd | CMP Rs 1,0436.10 | Shares of UltraTech Cement surged 4 percent on December 27 after brokerage house Nomura upgraded its rating from neutral to ‘buy’. This comes as Nomura anticipates robust growth in sales volume, improved pricing discipline and advancement of valuations to FY26. The brokerage is bullish on the stock with a revised target price set at Rs 11,500, up 15 percent as India’s cement industry is expected to retain its growth momentum in the second half of FY24.
11/11
Vishnu Prakash R Punglia Ltd | CMP Rs 224.70 | Shares of Vishnu Prakash R Punglia gained 3.5 percent on December 27. The surge came after the company received a letter of award for two projects from the Government of Uttarakhand. In a regulatory filing on December 27, Vishnu Prakash R Punglia said that it had received a Letter of Award from the Uttarakhand government for two projects worth Rs 899 crore. As per the letter of award, Vishnu Prakash will develop a water supply system with 18 years of operation and maintenance (O&M), in Haldwani and Kotdwar, Uttarakhand.
