Stock Market Highlights, June 13: Sensex, Nifty end listless session with minor gains; VIX down 6%

Stock Market Highlights on June 13: The BSE Sensex ended 204 points higher (at 76,811), while the Nifty closed 76 points up (near 23,400)

11:54 AM

ACC, BSE: This tech indicator shows more gains ahead for 5 Nifty MidCap stocks

ACC

Potential upside: 10.5%

 

Apart from the MACD, other key momentum oscillators on the ACC daily chart such as - the 14-day RSI (Relative Strength Index) and the Slow Stochastic have also witnessed a positive crossover in recent trading sessions. The price-to-moving averages action on the ACC stock chart also suggests a positive bias. Hence, the stock is expected to head north in the near-term. READ MORE

11:43 AM

Torrent Pharma slips 3% after USFDA issues 5 observations for Indrad Unit

Torrent Pharmaceuticals, headquartered in Ahmedabad, is a leading multinational pharmaceutical company and a  part of the Torrent Group. Torrent Pharma holds a prominent position in the global pharmaceutical arena, particularly excelling in therapeutic segments such as cardiovascular (CV), central nervous system (CNS), gastro-intestinal (GI), and vitamins minerals nutritionals (VMN). READ MORE

11:32 AM

Market Check :: Top losers on the BSE at this hour

11:20 AM

Realty shares rally up to 8%; Sobha, Lodha, Godrej, Prestige hit new highs

At 10:19AM, the Nifty Realty index was the top gainer among sectoral indices, and was up 2.2 per cent as compared to 0.32 per cent rise in the Nifty 50. In the past six months, the realty index has surged 51 per cent as against nearly 12 per cent gain in the benchmark index. Further, in the past one year, the Nifty Realty index has zoomed 115 per cent as compared to 25 per cent rally in the Nifty 50. READ MORE

11:07 AM

Whirlpool hits 52-week high on signing new marketing pact with HUL

“The two trusted brands in the home care industry have collaborated to deliver superior cleaning performance and convenience to households. The integration of innovative technologies from both brands will help in delivering superior fabric care, improving the daily laundry process, and resulting in an enhanced customer experience,” Whirlpool said in a statement READ MORE

10:55 AM

Market Check :: Top gainers on the BSE at this hour

10:42 AM

Will Modi 3.0 spur rally in PSU stocks again? Selectively, say analysts

On June 4, the day Lok Sabha election results showed a fractured mandate with the Bharatiya Janata Party (BJP) failing to bag a clear majority, PSU stocks tumbled up to 30 per cent in the intraday trade. By comparison, the benchmark Sensex, and Nifty indices closed nearly 6 per cent lower each. READ MORE

10:29 AM

Bondada Engineering locks in 5% upper circuit after LoA from NLC India

The engineering, procurement, and construction (EPC) services firm disclosed in an exchange filing that NLC India has granted LoA, a work order for setting up a 600 megawatt grid connected solar power project including the operation and maintenance for three years at Khavda, Gujarat. The total amount for the solar power project is Rs 939.39 crore. The project will be executed in 15 months from the date of LoA. READ MORE

10:16 AM

ALERT :: UNICEF awards Venus Remedies for its antibiotic product, Ceftriaxone 1 gm

Check exchange filing here

10:03 AM

Gensol Engg locked at 5% upper circuit on securing project of Rs 1,340 cr

In an exchange filing, Gensol Engineering said, "We would like to inform you that the company has in normal course of business, emerged as a successful bidder for a 250 MW/500 MWh Battery Energy Storage System (BESS) tender floated by Gujarat Urja Vikas Nigam Limited (GUVNL)." READ MORE

9:48 AM

Crude Oil: Check key trading strategy on June 13, target price and more

EIA raised its demand forecast for 2024, by 1.1mbpd (May) from 0.9 mbpd (April)  and NON-OPEC + supply is expected to expand by 1.2 mb/d in 2024 to average 53.0 mb/d lead by US liquids supply growth for 2024. Global oil inventories fell by an estimated 0.3 million barrels per day (b/d) in the first half of 2024 (1H24), and we expect they will decrease by an average of 0.6 million b/d from 3Q24 through 1Q25. U.S. crude oil production will grow by 2 per cent in 2024 and average 13.2 million barrels per day (b/d) for the year and a further 4 per cent in 2025 READ MORE

9:37 AM

Sobha Rights Issue will open on June 28; stock rallies over 5%

>> Giving update on its Rights Issue plan, Sobha has informed the exchanges that it will issue 12,107,981 Rights Equity Shares each on a partly-paid basis for an amount up to Rs 2,000 crore. The Rights Issue Price will be Rs 1,651 per Rights Equity Share.

>> The record date for the same has been fixed as Wednesday, June 19, 2024. The Rights Issue will run between June 28, 2024 and July 4, 2024.

 

9:35 AM

US FDA issues 5 observations to Torrent Pharma; stock in red

>> The USFDA, that conducted a pre-approval inspection and a GMP inspection at its Indrad facility from June 3 to June 12, 2024, has issued Form 483 with five observations.

9:34 AM

Bondada Engg hits 5% upper limit on order win

>> Bondada Engineering Limited has received a Letter of Award from NLC India Limited for Balance of System (BOS) work for setting up 600MW Grid Connected Solar Power Project, including the O&M for three years. The project is worth Rs. 939.39 crore. 

9:32 AM

Saksoft sprints 13% on executing Share Purchase Agreement to acquire Augmento Labs

>> The company has executed a Share Purchase Agreement to acquire 100 per cent equity interest in Augmento Labs Private Limited. Augmento Labs will become a wholly-owned subsidiary of the company on closure of the transaction. 

>> The total cash consideration for the deal is up to Rs 100 crore with an upfront cash consideration of Rs 35 crore, and the balance as earnout consideration based on performance over two financial years.