The equity market in the previous session gained more than one per cent in a single day for the first time since June 21, supported by buying across sectors and positive European cues with fall in oil prices. The BSE Sensex jumped more than 600 points to 53,751, while the Nifty50 climbed nearly 180 points to 15,989. The buying was also seen in broader space as the Nifty Midcap 100 and Smallcap 100 indices gained 1.9 per cent and half a per cent respectively, while the volatility index India VIX cooled down to 20.27 levels, down by 2.5 per cent, which was a comfort for bulls.
SpiceJet
The Directorate General of Civil Aviation (DGCA) issued a show cause notice to SpiceJet in light of the rising number of air safety incidents witnessed by the low-cost airline. The aviation safety regulator, in its notice, said the airline “has failed to establish safe, efficient and reliable air services”. Responding to the notice, SpiceJet CMD Ajay Singh said the airline would be “doubly careful” and strengthen inspection of aircraft before they leave for flights.
Hero MotoCorp
Shares of Hero MotoCorp (HMCL) moved higher by 4 per cent to Rs 2,837, hitting an over four-month high on the BSE in Wednesday’s trade on expectations of strong June quarter earnings (Q1FY23). HMCL sold 1.39 million units in Q1FY23 and has reported robust double-digit growth of 35.7 per cent over Q1FY22, when the company had sold 1.03 million units. Sequentially, the company reported 17 per cent growth in total sales, when the company had sold 1.19 million units in Q4FY22.
Veljan Denson
The company has signed a share purchase agreement to acquire 100 per cent shareholding in Adan Holdings, for 1.4 million pounds. Aban holds stake in hydraulics and engineering companies in the UK. The said acquisition will be completed by August 2022.
Equitas Small Finance Bank
The small finance bank reported 22 per cent YoY growth in Q1FY23 gross advances at Rs 21,699 crore and the sequential increase was 5 per cent, while deposits growth was 19 per cent YoY and 8 per cent QoQ at Rs 20,386 crore.
Deep Industries
The company has received a Letter of Awards from ONGC, for charter hiring of 1000 HP mobile drilling rigs for Ahmedabad assets for a period of 3 years. The total estimated value of the said awards is $19.02 million or Rs 150.24 crore.
PBA Infrastructure
The company said the board has approved voluntary delisting of equity shares of the company from NSE, but equity shares would remain to be listed on the BSE.
East West Holdings
The company has entered into Share Purchase Agreement with Unique Airfreight Express and Logistics Private Limited. It will acquire a 37.5 per cent stake in Unique Airfreight Express in the first tranche and the remaining 62.5 per cent stake will be acquired within a period of 1 year. The cost of acquisition is Rs 4 crore.
Titagarh Wagons
HDFC Asset Management Company sold a 2.15 per cent stake or 25.7 lakh shares in the company via open market transactions on July 4. With this, HDFC AMC reduced its shareholding in the company to 7.02 per cent, down from 9.17 per cent earlier.
City Union Bank
The bank said the board of directors approved raising further capital through QIP route to the tune of Rs 500 crore subject to shareholder approval.
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