The S&P BSE Sensex rose over 0.8% to 56,278.34. The NSE Nifty 50 also advanced by similar magnitude to 16,748.55. Today 29 of Nifty 50 stocks rose while 21 fell.
The broader indices underperformed their larger peers, with S&P BSE MidCap and SmallCap rising 0.3%. Thirteen of the 19 sectoral indices compiled by BSE Ltd. advanced, with Finance and Information Technology gauges gaining over 1%.
The market breadth is skewed in the favour of bulls. About 1,690 stocks rose, 907 fell and 119 remained unchanged.
- HDFC/HDFC Bank: The merger between two companies was approved by SEBI.
- SpiceJet: DGCA capped restricted SpiceJet’s capacity to 50% for 8 weeks after findings of various spot checks, inspections and airline’s reply to a show-cause notice issued by the regulator. The company said that no flights will be cancelled as it has already rescheduled its flight operations due to current lean travel season.
- Hero MotoCorp: The company has selected Accenture to scale up and enhance its supply chain. The program will include supply chain strategy, planning optimization, logistics cost optimization and development of an end-to-end digital supply chain suite, thereby enabling the company to manage the increasing complexity in products, markets, and supply chain networks while driving cost reduction in an inflationary environment.
- Hindustan Aeronautics: The company has signed a contract worth $100 million with Honeywell for supply and manufacture of 88 TPE331-12B engines/kits along with maintenance and support services to power the Hindustan Trainer Aircraft.
- Shopper’s Stop: The company approved investment of Rs 20 crore in its wholly owned subsidiary Global SS Beauty Brands by Q3 FY23.
