SENSEX slips 41 pts, NIFTY50 flat in noon session; Vi, PVR INOX, Ola Electric among buzzing stocks

The Indian benchmark indices, SENSEX and NIFTY50, were trading flat during Monday’s afternoon session, amid weak global cues, subdued sentiments due to continued foreign investor selling and lingering uncertainty surrounding the US-India trade talks.

The SENSEX fell as much as 0.5% to an intra-day low of 84,840.32. Meanwhile, the NIFTY50 reached the session’s low of 25,904.75.

At 12:26 PM, the S&P BSE SENSEX slumped by 41.38 points, or 0.05%, to 85,226.28, while NSE’s NIFTY50 was trading flat at 26,018, marking a 28.95 points, or 0.11% decline.

The NIFTY50 index was dragged down by selling in the shares of Oil & Natural Gas Corporation (-2.24%), Eicher Motors (-1.78%), Mahindra & Mahindra (-1.62%), Bajaj Auto (-1.36%), and JSW Steel (-0.92%), which were among the top laggards.

On the contrary, the top gainers included InterGlobe Aviation (up 2%), Asian Paints (1.2%), Shriram Finance (1.13%), Hindustan Unilever (0.90%) and Tata Consumer Products (0.8%).

Buzzing stocks on December 15: Check list

Shares of electric services provider Refex Industries surged as much as 11.49% to an intra-day high of ₹284.20 apiece on the National Stock Exchange (NSE) on Monday, December 15, recovering from the 52-week low it hit at opening. During the opening session, the stock plunged as much as 15.61% to a year’s low of ₹215.10 per equity share.

This comes after the company issued a clarification with respect to the search operations conducted by the Income Tax Department at its registered office and certain other locations associated with the Refex Group.

The firm stated that its officers extended full cooperation to the authorities throughout the course of the search and furnished all information and documents as sought by them. It added that, to date, it has not received any communication, notice, or order from the Income-Tax Department indicating any adverse findings pursuant to the aforesaid search operations.

In a separate filing on December 14, the company said that the Adjudicating Officer of SEBI has imposed a penalty of ₹10 lakh under Section 15G of the SEBI Act, 1992, on Anil Jain, Promoter & Non-Executive Director of the firm.

Refex Industries clarified that since the penalty is imposed on the individual, there is no financial, operational, or monetary impact on the company.

Ola Electric Mobility stock declined as much as 1.61% to an intra-day low of ₹36.10 apiece on the NSE, after the EV maker on Sunday announced the launch of Hyperdelivery, offering same-day registration and delivery of its 4680 Bharat Cell-powered vehicles in Bangalore.

Shares of PVR INOX soared as much as 7.8% to the session’s peak of ₹1,134 apiece on Monday, as it announced the opening of 5 new screens at Inorbit Mall, Cyberabad, Hyderabad, transforming the cinema into an 11-screen superplex.

With this launch, PVR INOX now operates the largest multiplex network, with 1772 screens across 355 properties in 111 cities (India and Sri Lanka), it said in a regulatory filing on Saturday.

The stock of Vodafone Ideas was trading in the red, down by as much as 1.2% to the day’s low of ₹11.50 per equity share. During the morning session, the share had advanced as much as 3.35% to a fresh 52-week high of ₹12.03 apiece on the NSE.

This is because, according to a news report by The Economic Times, the government is likely to offer an interest-free moratorium of four to five years to the company on over ₹83,000 crore of its pending statutory dues linked to adjusted gross revenue (AGR), giving immediate relief to the cash-strapped telecom operator.

The report added that after the moratorium ends, the company will be required to pay arrears in six instalments, but the amount is likely to be reduced substantially, to nearly half, after a reassessment of liabilities.

Shares of SEPC Ltd, a mining EPC firm, gained as much as 13.82% to an intra-day high of ₹10.38 apiece on Monday, as it entered a ₹3,299.51 crore mining consortium project.

In a regulatory filing, the company said that it entered into agreements with M/s Jai Ambey Roadlines Private Limited and M/s Avinash Transport, who together form the JARPL–AT Consortium, for a mining project awarded by South Eastern Coalfields Limited.

Shares of pharmaceutical player Corona Remedies made a robust debut on the stock exchanges on Monday, December 15. The share listed at ₹1,470 per share on the NSE, reflecting a premium of 38.42% over the IPO issue price of ₹1,062.

On the BSE, the scrip started trading at ₹1,452, up 36.72% from the issue price.

The stock of home and furnishings company Wakefit Innovations Limited debuted at ₹195 per unit on the NSE on December 15. The listing price is at par with the IPO issue price of ₹195.

On the BSE, the stock started trading at ₹194.10, down 0.46% from the issue price.