March 29, 2022 05:55 PM
Indian benchmark indices ended near the day’s high level with the Nifty comfortably closing above 17,300 led by capital goods, realty and pharma stocks. At close, the Sensex was up 350.16 points or 0.61 percent at 57,943.65, and the Nifty was up 103.30 points or 0.60 percent at 17,325.30.
EICHERMOT, ADANIPORTS, HDFC, JSWSTEEL, DIVISLAB were among the top Nifty Gainers.
On the other hand HEROMOTOCO, ONGC, COALINDIA , IOC and ITC were among the big Losers.
Stocks and sectors
On the BSE, except oil & gas and auto, all indices ended in the green. Healthcare and realty were up 1 percent each and capital goods index added 0.65 percent.
BSE midcap and smallcap indices added 0.6 percent each.
A long build-up was seen in Ipca Laboratories, JK Cement and Max Financial, while a short build-up was seen in the Hero MotoCorp, ONGC and Coal India.
Over 100 stocks touched their 52-week high on the BSE. These included Adani Power, Nava Bharat Ventures, Jindal Steel & Power and Hindalco Industries.
Among individual stocks, a volume spike of more than 500 percent was seen in Indiabulls Housing, SAIL and L&T Finance Holdings.
European stocks advanced on Tuesday ahead of another round of Ukraine-Russia talks. The pan-European Stoxx 600 climbed 1.2 per cent by mid-morning, with autos jumping 3 per cent to lead gains as all sectors and major bourses traded in positive territory.
On Wall Street, the S&P500 and Dow Jones Futures were up 0.3 per cent each, and Nasdaq Composite Futures climbed 0.5 per cent.
Meanwhile, Japan’s Nikkei and Hong Kong’s Hang Seng advanced 1 per cent each, South Korea’s Kospi 0.4 per cent, and Australia’s ASX200 0.7 per cent. China’s CSI300, on the flipside, dipped 0.35 per cent.
Here are the Top Gainers & Losers:
Hero MotoCorp: CMP: Rs 2,219: The share price tumbled over 6 percent as the market reacted adversely to the reports which claimed that the Income Tax Department detected bogus expenses to the tune of Rs 1,000 crore made by the company.
Sources told CNBC TV18 that the claims related to the false expenses were detected in the I-T raid conducted from March 23 to March 26 at premises linked to Hero Motocorp.
While an official statement was awaited, news agency ANI learnt from sources that “incriminating evidence” was found in the form of hard copies and digital data. The company is yet to react to the reports.
Bharti Airtel: CMP: Rs 753.50: The stocks was up over 2 percent after the company along with unit Nettle Infrastructure Investments, had bought 12.71 crore shares of Indus Towers from an affiliate of the UK’s Vodafone Group Plc for Rs 2,388.05 crore.
SBI Life Insurance Company: CMP: Rs 1,103.05: The scrip gained over 2 percent on a block deal worth Rs 596.5 crore this morning and yesterday’s sale of 0.56 percent stake in the firm by Canada Pension Fund at a price band of Rs 1,039-Rs 1,077 apiece, as per CNBC-TV18.
G R Infraprojects: CMP: Rs 1,503.85: The share rose over 3 percent after the company has emerged as the L-1 bidder for two projects – four-laning of an existing 2-lane stretch from Govindpur to Rajura in Maharashtra, and the four -laning of an existing 2-lane stretch from Bamni to MH/TG Border in Maharashtra.
Ruchi Soya Industries: CMP: Rs 938: The stocks price surged over 15 percent after investors in Ruchi Soya’s Follow-on Public Offer (FPO) have been allowed to withdraw their bids, because of an advertisement that was termed as misleading by the market regulator SEBI. However, the extension of FPO, only for withdrawal of bids briefly caused confusion among investors.
HDFC Bank: CMP: Rs 1,458: The share price ended in the green on March 29. The bank said it has inked an agreement to invest Rs 3 crore in the first tranche to acquire a stake in debt management company IDRCL. HDFC Bank has signed a pact on March 28 for investment in India Debt Resolution Company Ltd (IDRCL) by way of subscription to equity securities, the bank said in a regulatory filing.
Ashoka Buildcon: CMP: Rs 86.20: The stocks ended in the red on March 29. Ashoka Buildcon submitted its bid to the National Highways Authority of India (NHAI) for the ‘development of 6-lane Access Controlled Greenfield highway from KM 162.500 to KM 203.100, and Baswantpur to Singondi Section of NH 150 C (Package 4 of Akkalkot KNT of TS Border) on Hybrid Annuity Mode (HAM) under Bharatmala Pariyojana’ (Project). The company emerged as “the lowest bidder” and the quoted bid for the project is Rs 1,079 crore.
Tata Motors: CMP: Rs 433.70: The stocks ended in the green on March 29. The auto major said that high battery cell costs are putting short-term pressure on the company. Battery cell costs are up 20 percent on higher raw material prices, mainly lithium, according to a Reuters report.
PNC Infratech: CMP: Rs 254: The scrip jumped over 4 percent after the firm was declared as the L1 (lowest) bidder for an NHAI Project — construction of six-lane with Access Controlled Greenfield Highway from km 26.000 to km 97.000, MH/KN Border (Badadal) to Maradgi S Andola section of NH – 150C, for a bid project cost of Rs 1,575 crore.
PVR: CMP: Rs 1,870.05: The stock price ended in the red on March 29. A total of three stocks were banned from trading in the futures and options segment by the National Stock Exchange on March 29 after those securities crossed 95 percent of the market-wide position limit. PVR was added to the list.
The firm which announced a merger with its competitor Inox Leisure is the latest addition to the ban list. During the ban, traders are not allowed to take fresh positions in stocks under the F&O ban, but they can start reducing their positions. PVR and INOX Leisure announced a merger deal to create the largest multiplex chain in the country with a network of more than 1,500 screens.
Also Read : PVR among three stocks under F&O ban for Tuesday
The boards of directors of the two companies at their meetings held on March 27 approved an all-stock amalgamation of INOX with PVR, the two companies said in separate regulatory filings.