Share Market Highlights 6 December 2024: Sensex, Nifty dip; RBI’s CRR cut eases liquidity worries

India Daybook – Stocks in News

GRSE: Company signs contract for construction and delivery of 2nd ship from series of 4. (Positive)

Waaree Energies: Company secured a second NABL accreditation for its advanced PV module testing lab in Chikhli, Gujarat. (Positive)

Dynamic Services: Company gets offer letter for “Mega Project” from the Government of Maharashtra to set up a new project for manufacturing of solar PV panels 1800 MW (Positive)

Afcons Infrastructure: Company achieves longest tunnelling drive for DMRC in Delhi Metro Phase 4. (Positive)

Shriram Pistons: Company renewed its 5-year Technical Collaboration Agreement with Fuji Oozx Inc., Japan. (Positive)

PG Electroplast: Company’s long-term rating upgraded to CRISIL A+. (Positive)

NBCC: Company wins ₹599.35 Cr work order from National Health Mission, Maharashtra (Positive)

Abha Power: Company secured a ₹6 crore order from Indian Railways. (Positive)

Lemon Tree Hotels: Company announced a new resort in Pavagadh, Gujarat, India. (Positive)

Advait Energy: Company received a domestic order from NRSS Transmission Ltd for Supply and Installation of 24 F OPGW for a 400 KV transmission line (Positive)

Harsha Engineers: Company signed a long-term agreement with a multinational bearing company to supply bearing cages. (Positive)

Mehai Technology: Company receives ₹16.24 Cr order from Leapfrog Engineering for equipment maintenance. (Positive)

Electronics Mart: Company opened a new Bajaj Electronics store (6,300 sq ft) in Vijayawada, Andhra Pradesh. (Positive)

Canara Bank: RBI approves for divesting its shareholding in Canara Robeco AMC & Canara HSBC Life Insurance Company by 13% and 14.5% respectively through IPO. (Positive)

GPT Healthcare: Company said it has entered into a MoU and Letter of Intent with Naveen Singh and other lessors to construct and finish a high-class hospital building in Jamshedpur. (Positive)

RITES: Company said it has been appointed as the Project Management Consultant for the development of the Phase II campus of the IIM Raipur. (Positive)

Larsen & Toubro: Company received a Rs 4.4 crore penalty notice from the Joint Commissioner, CGST & Central Excise, Jamshedpur. (Neutral)

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Kolte-Patil Developers: Company to sell 17% stake in Kolte-Patil planet kiwale project, deal worth Rs 37.9 million (Neutral)

Sylph Technologies: Company board approved a rights issue to raise up to Rs 49 Cr. (Neutral)

Zenith Drugs: Company participated in the CPHI 2024 convention in Delhi NCR, connecting with over 3000 industry professionals. (Neutral)

VSTL: Company’s Odisha Unit III operational start delayed to end of January 2025 due to electricity connection delays. (Neutral)

Canara Bank: CRISIL reaffirmed Bank’s debt instrument ratings. (Neutral) 

Maruti Suzuki: Company informs that the NCLAT hearing on CCI matter, previously adjourned multiple times, has been further adjourned to February 7, 2025. (Neutral)

UniHealth Hospitals: Company approved ₹10,00,00,000 additional capital contribution to its subsidiary, UMC Hospitals Pvt. Ltd., through a rights issue of 74,48,000 shares at ₹10 each. (Neutral)

ABFRL: Company received a GST order from Chennai’s Assistant Commissioner, Kotturpuram Assessment Circle, and demanding Rs 2.45 Cr (Neutral)

L&T: Company issued Rs 1,500 crore worth of 7.19% Non-Convertible Debentures. (Neutral)

Ola Electric: Company received further communication from CCPA on Dec 4, 2024, requesting additional documents within 15 days. (Neutral)

Welspun Living: Company Ltd announced the approved amalgamation of its wholly-owned subsidiaries: Welspun Home Solutions Ltd and Welspun Advanced Materials. (Neutral)

GAIL: Company’s CSR initiative launched 2 Mobile Medical Units and an advanced life support ambulance to AIIMS. (Neutral)

Apollo Tyres: Company announced the cut-off date for its postal ballot on the issuance of up to Rs 10,000 million in Non-Convertible Debentures via private placement. (Neutral)

Torrent Power: Company raises ₹3,500 crore through its QIP; 50% shares issued to one MF (Neutral)

Mahindra Logistics: Company’s ₹100 crore Commercial Paper credit rating (ICRA A1+) remains valid, as confirmed by ICRA on Dec 5, 2024. (Neutral)

KIMS: Company increased its stake in subsidiary Arunodaya Hospitals by 3% to 70.66%, costing Rs 2.25Cr. (Neutral)

Muthoot Capital Services: Company approved issuing Rs 90 crore Non-Convertible Debentures via private placement. (Neutral)

Shriram Asset Management: Board will meet on Dec 10, 2024, to consider a preferential share issue. (Neutral)

Tata Motors: JLR’s total sales down 11% at 5,558 units vs 6,251 units year-on-year. (Neutral)

FSN E-Commerce: Nykaa Fashion CEO, Mr. Nihir Parikh, resigned effective December 5, 2024, due to personal reasons. (Negative)

Spandana Sphoorty: ICRA revised outlook to negative from stable for Spandana Sphoorty, rating reaffirmed ICRA A+ (Negative)

Mishtann Foods: SEBI has ordered Mishtann Foods to recover nearly ₹100 crore, misappropriated or diverted through group entities and its promoters. (Negative)🌹