JSW Steel (+2%), ONGC (+2%) & more

Tribe Daily

Tribe Wealth

Dec 14, 2022

Market Summary

Nifty ends with marginal gains due to offbeat global cues.

Companies

JSW Steel (+2%) rose after the company announced its plan to set up a Rs 8,800 cr factory in Andhra Pradesh. ONGC (+2%) rose as the company is trying to increase its stake in Russian energy assets and planning to drill 53 exploratory wells in Andhra Pradesh.

Sectors

Nifty Metal (+1%) rose due to strong performance of Hindalco and JSW Steel. Nifty IT (+1%) rose due to strong performance of Tech Mahindra, HCL Tech, TCS and Wipro. Nifty FMCG (-1%) declined due to weak performance of Nestle, Britannia and ITC.

News of The Day

1. Apollo Hospitals to raise Rs 105 cr via NCDs. (Business Standard)

2.Mahindra and Mahindra (+1%) rose after the company announced its plan of Rs 10,000 cr to set up an electric vehicle plant in Pune. (Deccan Herald)

3.GMR Hyderabad Airport raised Rs 1,150 cr through NCDs for repayment of offshore bonds. (Mint)

4.Affle India (-1%) declined after the company's board approved the issue of 35 lakh shares. (Equity Bulls)

5.Patel Engineering (+3%) rose as the company's board mulled over fundraising via the right issues. (CNBC tv18)