Stock Market Today: Nifty, Sensex End First Day Of FY25 Higher As HDFC Bank, L&T, Tata Steel Rise
Get all live updates on Indian stock market here on April 1.
KEY HIGHLIGHTS
Nifty, Sensex End First Day Of FY25 Higher As HDFC Bank, L&T, Tata Steel Rise: Market Wrap
Astra Microwave Gets Orders Worth Rs 56 Crore
Nifty Bank Gains Over 2% In Three-Day Gains; HDFC Bank, Kotak Bank Lead Rally Today
Indian Markets At Fresh High
Nifty, Sensex Extend Gains At Open As Infosys, HDFC Bank Lead: Opening Bell
Nifty, Sensex End First Day Of FY25 Higher As HDFC Bank, L&T, Tata Steel Rise: Market Wrap
India's benchmark indices extended gains to third day to start the FY25 on a positive note as shares of HDFC Bank Ltd., Larsen & Toubro Ltd., and Tata Steel Ltd. rise.
Further, bank stocks rose as sentiment improved after the Reserve Bank of India updated list of banks authorised to import silver and gold during the current fiscal. This added to the gains in the index.
The NSE Nifty was trading 135.10 points or 0.61% higher at 22,462.00, and the S&P BSE Sensex was trading 363.20 points or 0.49% up at 74,014.55.
Intraday, the NSE Nifty 50 rose 0.91% to life time high of 22,529.95, and the S&P BSE Sensex rose 0.82% to record high of 74,254.62.
The markets have received some support and rebounded. Caution is advised regarding the broader breadth of the market as there is an anticipation of a slight weakening, said Mahesh Patil, CIO, Aditya Birla Sun Life AMC. "This is a sideways correction and not a deep correction."
HDFC Bank Ltd., Larsen & Toubro Ltd., Tata Steel Ltd., Tata Consultancy Services Ltd., and JSW Steel Ltd. added to the upward movement in the index.
Eicher Motors Ltd., Infosys Ltd., Nestle India Ltd., Bharti Airtel Ltd., and Titan Co. Ltd. limited gains in the index.
On NSE, 10 sectors ended higher out of 12, with the NSE Nifty Media rising over 4% to become the top performing sector.
The NSE Auto index fell the most among sectoral indices dragged by losses in Eicher Motors Ltd., Bajaj Auto Ltd.
Broader markets outperformed benchmark indices. The S&P BSE Midcap index settled 1.64% higher and the S&P BSE Smallcap 2.98% higher.
On BSE, 18 out of 20 sectors advanced and two declined. S&P Consumer Durables and S&P BSE Auto were the only sectoral indices that fell.
Market breadth was skewed in the favour of buyers. Around 3,230 stocks rose, 674 stocks declined, and 154 remained unchanged on BSE.
Tata Power Arm Commissions Solar Project In Bikaner
Tata Power's Saurya commissions 200 Megawatt solar project in Bikaner, Rajasthan
Rajasthan project expected to generate 485 million units of energy annually.
Source: Exchange Filing
Thyrocare Technologies Gets Rs 51 Crore Tax Demand For FY17
Thyrocare Technologies Ltd received rectification order from I-T dept raising demand of Rs 51 crore for FY17.
The company will file an appeal against order.
Source: Exchange Filing
Eicher Motors Business Update
March exports at 9,507 units, down 23% YoY
March motorcycle sales at 75,551 units, up 4.6% YoY
Source: Exchange Filing
Genesys International Gets Order Worth Rs 35 Crore
Genesys International received an order worth Rs 35 crore for Pune city digital twin.
Source: Exchange Filing
Bosch Expects Rs 116 Crore Tax Refund
Bosch has received refund order from I-T dept; Expects income tax refund of Rs 116 crore.
Source: Exchange Filing
Astra Microwave Gets Orders Worth Rs 56 Crore
Got order for precision approach radar system from Hindustan Aeronautics
Source: Exchange Filing
Business Update SAIL
FY24 hot metal output up 6% year-on-year, crude steel output up 5% year-on-year
FY24 sales volume up 5% YoY at 17.1 MT
Source: Bloomberg
Jubilant Ingrevia Commissions New Facility At Uttar Pradesh
Jubilant Ingrevia commissioned new facility at Uttar Pradesh manufacturing site for Diketene and derivatives.
Source: Exchange Filing
Waaree Renewable Energy Secures Order For Sprng Energy
Waree Renewable Energy Ltd. secured a 220 megawatt Solar PV order from Sprng Energy.
Source: Bloomberg
Sobha Estate Developers Gets Demand Notice Worth Rs 46 Crore
Sobha Estate Developers demand notices worth Rs 46 crore from Bengaluru I-T Dept for AY 2016-17 and AY 2022-23.
Source: Exchange filing
Nifty Auto Erases Losses After Touching Life High
Hyundai Motor India Clocks Highest Ever Annual Sales Of 7.77 Lakh Units In FY24
Domestic sales up 8.3% year-on-year at 6.14 lakh units in FY24.
Exports up 6.7% year-on-year at 1.63 lakh units in FY24.
Monthly sales up 7% year-on-year at 65,601 units in March 2024.
Source: Company statement
NTPC Adds 3,924 MW New Capacity To Overall Portfolio
NTPC Ltd. added 3924 MW new capacity to overall portfolio in FY24.
Cumulative installed capacity stands at around 76 GW.
Mukka Proteins Gets Purchase Order Worth Rs 50.39 Crore
Mukka Proteins Ltd get purchase orders equivalent to Rs 50.39 crore from Ever Light Oil Industrial Co & Uni Best General Trading FZE for fish meal.
Source: Exchange Filing
Great Eastern Shipping To Sell 2004 Built Medium Range Product
Great Eastern Shipping Company Ltd. is to sell its 2004 built Medium Range Product Tanker to unaffiliated third party.
Medium Range Product Tanker will be delivered to new buyer by Q1FY25.
Source: Exchange filing
Datamatics Global Board Approves Acquisition Of Dextara Digital For Rs 143 Crore
Datamatics Global Services Ltd. approves agreement to acquire 100% stake in Dextara Digital for Rs 143 crore.
The company to pay additional Rs 31 crore upon completion of certain business targets over 2 years.
Source: Exchange filing
Alembic Pharma Gets US FDA Approval for Ribociclib Tablets
Alembic Pharmaceutical Ltd. received US Foods and Drug Adminstration tentative approval for Ribociclib tablets.
Source: Exchange filing
HAL Business Update
Hindustan Aeronautics Ltd.'s FY24 revenue from operations at Rs 29,810 crore vs Rs 26,928 crore, up 11% year-on-year.
Order book stands at Rs 94,000 crore as of March 31.
Source: Exchange filing
PNB Housing Finance At Over Five-Year High As CARE Rating Upgrades Credit Rating
PNB Housing Finance Ltd. rose 14.47% to Rs 721.00, the highest level since Sep 24, 2018. It was trading 12.68% higher at Rs 709.70 as of 12:07 p.m., as compared to 0.68% advance in the NSE Nifty 50 index.
It has risen 58.42% in 12 months. Total traded volume so far in the day stood at 21 times its 30-day average. The relative strength index was at 58.52.
Bigbloc Construction's Unit Starts Production
Bigbloc Construction Ltd.'s unit Kheda plant commences production effective March 30.
Source: Exchange Filing
Hindustan Foods Rises For Second Day As Arm Inks Pact With SSIPL Retail
Hindustan Foods Ltd.'s arm KNS Shoetech is in pact with SSIPL Retail for acquisition of manufacturing facilities for Rs 77 crore, according to the exchange filing.
Shares of Hindustan Foods Ltd. rose as much as 4.13% to Rs 492.00, the highest level since March 21. It was trading 2.96% higher at Rs 486.50 as of 11:38 a.m., as compared to 0.66% advance in the NSE Nifty 50 index.
The scrip has fallen 7.95% in 12 months. Total traded volume so far in the day stood at 0.90 times its 30-day average. The relative strength index was at 40.11.
One analyst tracking the company maintains a 'Buy' rating on the company. The average 12-month consensus price target implies an upside of 40.5%.
NTPC Starts Operations At Chhattargarh Solar PV Project
NTPC Ltd. has started commercial ops for 80 MW last part capacity of Chhattargarh Solar PV Project with effect from March 29.
Alert: Chhattargarh Solar PV Project is step-down subsidiary of company.
Durgapur PP-III Unit 2 of 20 MW of NTPC-SAIL Power Co starts commercial ops with effect from March 29.
Source: Exchange Filing
Business Update - Mishra Dhatu Nigam
Records highest-ever direct exports of Rs 67 crore in FY24 vs Rs 37 crore in FY23.
Records highest-ever sales of Rs 1,065 crore for FY24 vs Rs 872 crore in FY23.
Source: Exchange Filing
GE Power Gets Orders From NTPC & Hindustan Zinc
GE Power India Ltd. received Rs 35 crore orders from NTPC and Hindustan Zinc Ltd.
Order worth Rs 9 crore is from Hind Zinc Ltd. for R&M of boilers.
Order worth Rs 24 crore is from NTPC Ltd. for supply of generator spares and turbine blades.
Source: Exchange Filing
Tata Steel Rises To Fresh High
Tata Steel Ltd. rose as much as 3.43% to Rs 161.20, the highest level since its listing on Nov 18, 1998. It was trading 3.37% higher at Rs 161.10 as of 11:06 a.m. as compared to 0.63% advance in the NSE Nifty 50.
It has risen 54.16% in 12 months. Total traded volume so far in the day stood at 1.4 times its 30-day average. The relative strength index was at 66.69.
Out of 32 analysts tracking the company, 19 maintain a 'buy' rating, six recommend a 'hold,' and seven suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an downside of 9.8%.
M&M March Auto Sales
Total sales at 68,413 units, up 4% YoY
PV sales at 40,631 units vs 35,997 units, up 13% YoY
3-wheeler sales at 5,279 units vs 5,697 units, down 7% YoY
Total tractor sales at 26,024 units vs 35,014 units, down 26% YoY
Total exports at 1,573 units vs 2,115 units, down 26% YoY
Source: Exchange filing
BofA Upgrades Tata Tech's Rating To Buy
BofA Securities upgrades Tata Technologies to a buy, with a price target of Rs 1,250 per share.
Services growth to accelerate to 15% in FY25 versus 11% in FY24.
Aerospace opportunity to start converting into revenue as client base is strong.
Valuation has likely bottomed given the high interest in ER&D.
BSE Jumps To Record High
BSE Ltd. rose as much as 6.12% to Rs 2,669.90, the highest level since its listing on Feb 3, 2017. It was trading 5.89% higher at 2,664.00 as of 10:45 a.m., as compared to 0.73% advance on NSE Nifty 50 index.
It has risen 492.66% in 12 months. Total traded volume so far in the day stood at 1.3 times its 30-day average. The relative strength index was at 69.89.
Nifty Bank Gains Over 2% In Three-Day Gains; HDFC Bank, Kotak Bank Lead Rally Today
NTPC Starts Commercial Operation At Maitree Project Unit
NTPC Ltd. has commenced commercial operations at 660 MW Maitree project unit.
Source: Exchange filing
Torrent Power Win 150-MW Wind Solar-Wind Hybrid Project; Stock Up Over 7%
The scrip rose as much as 7.74% to Rs 1,463.00 apiece, the highest level since March 27. It was trading 7.29% higher at Rs 1,457.00 apiece, as of 10:07 a.m. This compares to a 0.79% advance in the NSE Nifty 50 Index.
It has risen 180.42% in 12 months. Total traded volume so far in the day stood at 2.4 times its 30-day average. The relative strength index was at 71.64, which implied the stock is slightly overbought.
Out of 11 analysts tracking the company, three maintain a 'buy' rating, two recommend a 'hold,' and six suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an downside of 31.8%.
RVNL Rises Over 5% After Emerging As Lowest Bidder For Three Orders
Rail Vikas Nigam Ltd. shares rose over 5% after the construction arm of the Ministry of Railways emerged as the lowest bidder for three orders.
RVNL stock rose as much as 5.06% during the day at Rs 265.70 apiece on the NSE. It was trading 3.52% higher at Rs 261.80 apiece, compared to a 0.86% advance in the benchmark Nifty 50 as of 10:02 a.m.
It has risen 247.25% in the last 12 months. The relative strength index was at 56.
Out of three analyst tracking the company, one has a 'buy' rating on the stock and three suggest a 'hold', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 8.1%.
Adani Ports Hit Record High On Highest Monthly Cargo Volumes
Shares of Adani Ports and Special Economic Zone Ltd. hit a fresh high after it reported its highest-ever monthly cargo volumes of over 38 million metric tonnes in March 2024.
The Adani Group company has handled 420 million metric tonnes cargo in FY24, 24% year-on-year growth, with domestic ports contributing Over 408 MMT cargo, it said in an exchange filing on Monday.
Adani ports stock rose as much as 1.69% during the day to hit an life-high of Rs 1364.55 apiece on the NSE. It was trading 1.54% higher at Rs 1362.5 apiece, compared to a 0.74% advance in the benchmark Nifty 50 as of 9:50 a.m.
It has risen 116.7% in the last 12 months. The relative strength index was at 63.
Twenty out of the 22 analysts tracking the company have a 'buy' rating on the stock, and five suggest a 'hold', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 3.2%.
GM Breweries To Consider Bonus Share Issue
GM Breweries Ltd. is to consider issue of bonus shares in April 4 board meeting.
Source: Exchange filing
Adani Group Stocks Add Rs 50,246.87 Crore To Investor's Wealth
Adani Group stocks added as much as Rs 50,246.87 crore in investor wealth, taking their total market capitalisation to Rs 16.26 lakh crore during the day.
At 9:34 p.m., the shares added Rs 35,107 crore to investor wealth at a market capitalisation of Rs 16.12 lakh crore.
Infosys Rises Over 2% As It Expects Rs 6,329 Crore Tax Refund
The scrip rose as much as 2.13% to Rs 1,529.95 apiece, the highest level since March 22. It was trading 1.22% higher at Rs 1,516.35 apiece, as of 09:34 a.m. This compares to a 0.80% advance in the NSE Nifty 50 Index.
It has risen 7.8% in 12 months. Total traded volume so far in the day stood at 3.2 times its 30-day average. The relative strength index was at 34.70.
Out of 46 analysts tracking the company, 31 maintain a 'buy' rating, eight recommend a 'hold,' and seven suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 11.7%.
Indian Markets At Fresh High
Nifty, Sensex Extend Gains At Open As Infosys, HDFC Bank Lead: Opening Bell
Extending gains for a third day in a row, India's benchmark share indices opened higher in the first trading session of FY25 as HDFC Bank Ltd., and Infosys Ltd. rose.
As of 09:19, the NSE Nifty 50 was trading 174.65 points or 0.78% higher at 22,501.55, and the S&P BSE Sensex was trading 552.03 points or 0.75% up at 74,203.38.
The Nifty 50 index has witnessed a strong move to test the recent high of 22,500 levels and closed 1% higher with positive momentum, said Vikas Jain, senior research analyst at Reliance Securities.
The breakout of 22,200 levels will act as strong support on the downside while the upside could get extended to 22,800 levels over the next few weeks. RSI is moving upwards and trending above the averages lines along with the broader markets momentum, Jain added.
HDFC Bank Ltd., Infosys Ltd., ICICI Bank Ltd., Reliance Industries Ltd., and Larsen & Toubro Ltd added to the gains in the index.
SBI Life Insurance Co. Ltd., Bharti Airtel Ltd. limited gains in the index.
All 12 sectors on NSE were trading higher, with the NSE Nifty Media emerging as the top performing sectoral index.
Broader markets outperformed benchmark indices. The S&P BSE Midcap index rose 1.19%, and the S&P BSE Smallcap rose 1.77%.
On BSE, all 20 sectors were trading higher, with the S&P BSE Utilities sectoral rising the most.
Market breadth was skewed in favour of buyers. Around 2,387 stocks rose, 436 stocks declined, and 156 texts remained unchanged on BSE.
March Auto Sales
Total sales at 8,587 units vs 10,305 units, down 16.7% YoY
Domestic sales at 8,054 units vs 9,601 units, down 16.1% YoY
Exports at 533 units vs 704 units, down 24.3% YoY
Source: Exchange filing
Nifty, Sensex Higher At Pre-Open
At pre-open, the NSE Nifty 50 was 128.10 points or 0.57% higher at 22,455.00, and the S&P BSE Sensex was 639.16 points or 0.88% up at 73,635.48.
ICICI Securities On Dynamatic Technologies
Initiate coverage on Dynamatic Technologies 'Buy rating with a target price Rs 10,250, which implied 37% upside.
Aerospace to be the primary growth vector
Hydraulics and metallurgy divisions are turning a fresh leaf
Capex has peaked out, debt to fall, returns to improve
EBITDA CAGR of 19% and EBITDA margin of 17-18% through to FY27
TP based on 45x FY26E EPS
Prestige Group In Pact With Abu Dhabi Investment Authority & Kotak AIF
Prestige Group in pact Rs 2,001 crore deal with Abu Dhabi Investment Authority and Kotak AIF for residential projects.
Deal for developing projects having gross development value of Rs 18,000 crore across 4 cities.
Source: Exchange filing
IRB Infrastructure's SPVs Pays Rs 6,111 Crore To NHAI
IRB Infrastructure's SPVs make upfront payment of Rs 6,111 crore to NHAI for 2 toll projects
Source: Exchange filing
SBI Life Gets Demand Order Worth Rs 5,317.2 Crore
SBI Life Insurance Company received a demand order worth Rs 5,317.2 crore from I-T Dept for AY 2022-23.
Source: Exchange filing
Indian Overseas Bank Gets Demand Order Worth Rs 620 Crore
Indian Overseas Bank received a demand order worth Rs 620 crore from I-T Dept for AY 2022-23.
Source: Exchange filing
MS On IT
Bottoming out of revenue growth, pace of recovery is lower than previous estimates.
Expect recovery to be slower than previous phases.
Investor positionings still light, relative valuations close to 5 year average.
Expect most large caps to register revenue CAGR of 7-8% over F24-26
EBIT margins to improve YoY, EPS growth FY24-26 to be higher than FY22-24
Overweight: TCS, Infy, HCL Tech, Coforge
Equal Weight: LTIM
Underweight: Tata Elxsi, LTTS, Wipro, TechM
CLSA On Weekly India Strategy
Nifty outperformed peers; government acts to boost rural demand
Nifty did well on back of recovery of heavyweight sectors like oil & gas and FMCG
FIIs were net buyers in Indian equities and debt market in March
T+0 settlement system launched; govt hikes MGNREGA wages by 3%-11%
Bull-bear index in neutral zone
CLSA India portfolio outperformed the Nifty by 0.6ppts during the week
Indian Oil Cuts 19 Kg Commercial LPG Price To Rs 1,764.50
Indian Oil Corp cut 19 kg commercial LPG price to Rs 1,764.50 in Delhi.
It also cut commercial LPG price by Rs 30.50 per 19 kg cylinder in Delhi.
Cut ATF price by Rs 502.91per kilolitre in Delhi.
Source: IOC Website
Jefferies Maintains Buy on Adani Enterprises With Target Price At Rs 3,800
Jefferies Maintains 'Buy on Adani Enterprises with a target price Rs 3,800.
Commissioned Copper Project in Mundra, on schedule
Suggests group's continued ability to plan large-scale projects
Aims to leverage group's existing infrastructure and strategic location for synergies
Product portfolio includes other value-added/by-products apart from Copper Cathodes
Key demand drivers from EVs, renewable energy, construction, electric consumption, telecom
Global Cues
U.S. Dollar Index at 104.53
U.S. 10-year bond yield at 4.20%
Brent crude up 0.28% at $87.24 per barrel
Nymex crude up 0.36% at $83.47 per barrel
GIFT Nifty up 15.5 points, or 0.07%, at 22,539.50 as of 6:50 a.m.
Bitcoin was up 0.01% at $70,854.94
Most Asian Markets Gain
Markets in Australia and Hong Kong are closed for Easter Monday.
Domestic Natural Gas Price
Domestic Natural Gas Price at $8.38/ MMBTU
Price for period" April 1 to April 30, 2024
For gas produced by ONGC, Oil India Nomination Fields
APM price ceiling kept at $6.5/ MMBTU
Source: PPAC
Gas Price Ceiling
Gas Price Ceiling at $9.87/MMBTU
Ceiling applicable on gross calorific value basis
Ceiling applicable for period: April 1 to Sept. 30, 2024
Source: PPAC
Bhansali Engineering Appoints New Chairman
Bhanshali Engineering Polymers Ltd. approved appointment of Babulal M Bhansali as Chairman effective April 1.
Source: Exchange filing
India Glycols's Grain-Based Distillery To Be Commissioned By Q2FY25
India Glycols Ltd.'s second phase of proposed 100 kilo litre per day expansion of grain based distillery is expected to be commissioned by Q2FY25.
Source: Exchange filing
Money Market Update
The Indian rupee weakened by 2 paise to close 83.40 against the U.S. Dollar.
F&O Cues
Nifty April futures up by 0.6% to 22,488.2 at a premium of 161.3 points.
Nifty April futures open interest up by 27.6%.
Nifty Bank April futures up by 0.83% to 47,545.15 at a premium of 420.55 points.
Nifty Bank April futures open interest UP by 1.6%.
Nifty Options April 4 Expiry: Maximum Call open interest at 22,500 and Maximum Put open interest at 22,000.
Bank Nifty Options April 3 Expiry: Maximum Call Open Interest at 48,000 and Maximum Put open interest at 47,000.
Securities in ban period: Zee Entertainment.
Trading Tweaks
Price band revised from 20% to 10%: The Hi-Tech Gears, Time Technoplast.
Record/Ex date Special Dividend: Aditya Vision.
Record/Ex date Interim Dividend: Housing & Urban Development Corporation
Record/Ex date Stock split: Persistent Systems
Moved into short-term ASM framework: Jyoti CNC Automation, Sanghvi Movers.
Moved out into short-term ASM framework: Hi-Tech Gears.
Who’s Meeting Whom
Eris Lifesciences: To meet investors and analysts on April 3.
Sansera engineering: To meet investors and analysts on April 5.
Gravita India: To meet investors and analysts on April 3.
Insider Trades
Deepak Fertilisers & Petrochemicals: Promoter Robust Marketing Services bought 30,000 shares on March 28 and 29 each.
Ion Exchange: Promoter Mahabir Prasad Patni sold 25,000 shares on March 29.
Pidilite Industries: Promoter Maithili Parekh sold one lakh shares on March 29.
Pledge Share Details
Chambal Fertilisers & Chemicals: Promoter Zuari Industries created a pledge for 2 lakh shares on March 29.
Bulk Deals
Shriram Finance: Shriram Value Services bought 59.8 lakh shares (1.59%) at Rs 2,386 apiece and Sanlam Life Insurance sold 59.8 lakh shares (1.59%) at Rs 2,386 apiece.
Rategain Travel Technologies: Megha Chopra sold 25.2 lakh shares (2.32%) at Rs 715.25 apiece. Societe Generale bought 9.33 lakh shares (0.86%) at Rs 715 apiece.
Cartrade Tech: Springfield Venture International sold 6.31 lakh shares (1.34%) at Rs 640.04 apiece and ICICI Prudential Mutual Fund bought 5.92 lakh shares (1.26%) at Rs 640 apiece.
Dhani Services: Acm Global Fund bought 1 crore shares (1.63%) at Rs 39.2 apiece and Inuus Developers sold 1 crore shares (1.63%) at Rs 39.2 apiece.
Genesys International Corp: Ashish Pannalal Nanda sold 2 lakh shares (0.52%) at Rs 579.5 apiece.
Rama Steel Tubes: Sunflower Broking sold 50 lakh shares (0.98%) at Rs 13.8 apiece.
IDFC First Bank: Cloverdell Investment sold 15.8 crore shares (2.25%) at Rs 75.24 apiece.
SG Mart: Dhruv Gupta sold 70 lakh shares (6.28%) at Rs 476.17 apiece, Veera Gupta bought 12 lakh shares (1.08%) at Rs 476 apiece, and Everest Finance And Investment bought 9.45 lakh shares (0.85%) at Rs 476.1 apiece.
Indostar Capital Finance: Ecp Iii Fvci sold 19.09 lakh shares (1.4%) at Rs 186.11 apiece and Cohesion Mk Best Ideas Sub-Trust bought 7.6 lakh shares (0.55%) at Rs 186.1 apiece.
IPO Offering
SRM Contractors: The IPO has been subscribed 86.57 times on the third and final day. Bids were led by non-institutional investors (214.94 times), institutional investors (59.59 times), and retail investors (46.97 times).
Stocks To Watch
HDFC Bank: The lender plans to sell its 100% stake in HDFC Education and Development Services through the Swiss challenge method. After the Swiss challenge process is over, the bank will decide on the purchaser.
Bank stocks: The RBI authorised 11 banks to import both gold and silver in FY25 starting April 1. Axis Bank, HDFC Bank, SBI, and Karur Vysya Bank are among the eligible buyers for gold and silver, and Indian Overseas Bank, PNB and Union Bank of India can buy only gold.
NTPC: The company has discontinued operations at the 2x110 MW Barauni Thermal Power Station Stage-I permanently.
JSW Steel: Unit JSW Vijayanagar Metallics commissioned a 5 MTPA hot strip mill at its Vijayanagar plant.
Muthoot Microfin: The company has raised $75 million via external commercial borrowings to be utilised for on-lending and financing of eligible social loans.
Bank of India: The lender received a tax demand of Rs 564.4 crore from the income tax department for AY18–19.
Punjab National Bank: The board approved raising capital up to Rs 10,000 crore via compliant bonds, in one or more tranches during FY25.
JM Financial: Atul Mehra ceases to hold office as Joint MD effective March 28, and Adi Patel is redesignated as MD from Joint MD effective April 1.
Strides Pharma: The corporate insolvency resolution process against unit Strides Alathur has been stayed by the NCLT.
Shriram Finance: The company approved and allotted NCDs on a private placement basis. The issue size is Rs 733 crore, with a greenshoe option of Rs 617 crore.
Aurobindo Pharma: Unit CuraTeQ Biologics signed an agreement with Merck Sharpe & Dohme Singapore Trading for contract manufacturing operations.
Rail Vikas Nigam: The company emerged as the lowest bidder for a Rs 148 crore order from railways for the upgrade of the electric traction system.
Torrent Power: The company has received a letter of award from its distribution unit for setting up 150 MW grid-connected wind solar hybrid project with a cost of Rs 1,825 crore.
Asian Paints: The board approved an investment of Rs 200 crore in Asian Paints International.
Macrotech Developers: The company will acquire a 50% stake in Siddhivinayak Realties.
Canara Bank: The bank will dilute a 13% stake in Canara Robeco AMC by IPO, subject to regulatory approvals.
Reliance Infra: The company entered into agreements with Rosa Power Supply and Tato Hydro Power for availing secured borrowings in one or more tranches via inter corporate deposits of Rs 425 crore.
Honasa Consumer: The company announced its latest venture, Staze, a revolutionary colour cosmetic line designed to redefine beauty routines and an addition to its portfolio.
Chennai Petroleum Corp.: The company revised the cost of the Cauvery Basin Refinery and Petrochemicals project to Rs 33,023 crore from Rs 29,361 crore. The board also revised JV's capital structure, with 75% equity from IndianOil and 25% from the company.
India Pesticides: Unit Shalvis Specialities, situated at Hamirpur, Uttar Pradesh, has commenced its commercial production.
Great Eastern Shipping: The company has contracted to buy a medium range product tanker of about 51,486 deadweight tonne to modernise and expand the fleet. The proposed ship will be financed entirely from internal accruals.
Edelweiss Financial Services: The company approved the issue of NCDs worth Rs 200 crore.
Man Industries: Sanjay Kumar Agarwal will replace Ashok Gupta as CFO effective April 1
Avenue Supermarts: The company opened new stores in Telangana, Punjab and Maharashtra. The total number of stores as of today stands at 361.
Karnataka Bank: The company approved the allotment of a QIP issue of Rs 600 crore. It also entered into a pact with ICICI Lombard General Insurance to distribute its general insurance products.
Triveni Turbines: The board approved the reappointment of Dhruv M Sawhney as Chairman and MD for 5 years, effective May 10, SN Prasad as CEO, and Sachin Parab as COO, effective April 1.
DCX Systems: Krishnabhagawan Srinivasa Ranga resigned as CFO effective March 31.
Samvardhana Motherson: The company has made further investment on the right basis in unit Motherson Technology Services, raising its stake to 92.96%.
Lemon Tree Hotels: The company launched its fourth property in Himachal Pradesh with the Lemon Tree Hotel, Kasauli.
Borosil: The company achieved commercial production from its new 25-tonne per day production facility of borosilicate glass pressware in Jaipur, Rajasthan.
GIFT Nifty Trades Above 22,500
Markets in Asia were trading higher during early trade on Monday, as risk sentiment improved after data showed industrial activity in China rebounded from a five-month decline.
The Nikkei 225 was trading 0.15% higher at 40,428.48, and the KOSPI was trading 0.27% higher at 2,753.95 as of 6:35 a.m.
The S&P 500 index rose by 0.11% and the Nasdaq Composite fell 0.12% as of 6:37 a.m. The Dow Jones Industrial Average rose by 0.12%.
Brent crude was trading 0.19% lower at $86.81 a barrel. Gold was up by 1.21% at $2,256.77 an ounce.
The GIFT Nifty was trading 15.5 points, or 0.07%, higher at 22,539.50 as of 6:50 a.m.
India's benchmark equity indices pared some gains in the last hour of Thursday's session, but still managed to close the last week of the financial year over 1% higher.
The NSE Nifty 50 ended 219.85 points, or 0.99%, higher at 22,343.50, while the S&P BSE Sensex closed 639.16 points up, or 0.88%, at 73,635.48.
Overseas investors stayed net buyers on Thursday for the third consecutive day. Foreign portfolio investors bought stocks worth Rs 188.31 crore, and domestic institutional investors remained net buyers for the seventh day and mopped up equities worth Rs 2,691.52 crore, the NSE data showed.
The Indian rupee weakened by 2 paise to close at Rs 83.40 against the U.S. dollar.
