March 30, 2022 05:55 PM
The Indians stocks indices ended higher for the third consecutive session on March 30 on positive global cues. At close, the Sensex was up 740.34 points, or 1.28%, at 58,683.99, and the Nifty was up 173 points or 1%, at 17,498.30.
BAJAJFINSV, HDFCLIFE, TATACONSUM, BAJFINANCE and POWERGRID were among the top Nifty Gainers.
ONGC, HINDALCO, JSWSTEEL, ITC and TATASTEEL were the top Losers.
Stocks and sectors
On the BSE, auto, IT, bank, capital goods and realty indices rose 1 percent each. The metal index shed nearly 3 percent, power index 0.4 percent and oil & gas 0.8 percent.
The broader indices underperformed the frontliners. The BSE midcap index rose 0.8 percent and the smallcap index 1 percent.
A long build-up was seen in Godrej Consumer Properties, Dalmia Bharat, L&T Infotech, while a short build-up was seen in the ONGC Hindalco Industries and JSW Steel.
More than 100 stocks touched their 52-week high on the BSE. These included SRF, Intellect Design Arena, Adani Enterprises and Delta Corp.
Among individual stocks, a volume spike of more than 100 percent was seen in Tata Consumer Products, Torrent Power and ONGC.
European stocks retreated on Wednesday following the latest round of talks between Russia and Ukraine, aimed at finding a solution to the conflict. The pan-European Stoxx 600 fell 0.8 per cent in early trade, with autos shedding 1.9 per cent to lead losses, while oil and gas stocks gained 1.7 per cent.
On Wall Street, Dow Jones and S&P 500 Futures were down 0.3 per cent each while Nasdaq Futures slipped 0.4 per cent.
In Asia, Nikkei dipped 0.8 per cent, Kospi gained 0.2 per cent, and Hang Seng advanced 1.4 per cent.
Here are the Gainers & Losers:
Tata Consumer Products: CMP: Rs 765.50: The share price rose 3 percent after the company announced a merger plan and acquisition of a stake in a UK subsidiary.
Tata Consumer Products has approved the Composite Scheme of Arrangement among the company, Tata Coffee and TCPL Beverages & Foods and their respective shareholders and creditors.
Axis Bank: CMP: Rs 754.50: The share added over 2 percent on March 30. During the day, Citigroup announced selling its India consumer operations to Axis Bank.
The Indian lender will buy Citigroup’s India consumer business for $1.6 billion. Citigroup will transfer 3,600 employees to Axis Bank, a CNBC-TV18 report said.
GR Infraprojects: CMP: Rs 1,566: The stocks price jumped over 4 percent after the firm received the letter of award from the National Highways Authority of India for the five projects, including teh construction of four-lane expressway in Rajasthan and an upgrade to four-lane with paved shoulder in Bhuj, Gujarat, the company told exchanges.
Hero MotoCorp: CMP: Rs 2,269.75: The stocks was up over 2 percent after the two-wheeler maker said it will increase ex-showroom prices of its motorcycles and scooters from April 5, 2022 to partially offset the impact of increasing commodity prices. The price increase will be up to Rs 2,000 and the quantum of increase would be subject to the model and the market.
BHEL: CMP: Rs 50.15: The share price added 2 percent on March 30. Bharat Heavy Electricals Limited (BHEL) achieved yet another milestone in its international business by bagging a “prestigious order” for a compressor package from Iraq, the company said in a press release.
The order for the package for Baiji Refinery in Iraq has been placed by Northern Refineries Company (NRC), a National Oil refinery company owned by teh Ministry of Oil, Republic of Iraq.
ONGC: CMP: Rs 161.80: The stocks was down over 5 percent on March 30. The government proposes to sell more than 9.43 crore equity shares (0.75 percent of the paid-up equity) through an offer for sale on March 30 and March 31.
The government also has an option to sell another lot of more than 9.43 crore equity shares via OFS, collectively representing a 1.5 percent stake. The floor price for the offer has been fixed at Rs 159 per share.
Aurionpro Solutions: CMP: Rs 321.90: The scrip spiked 5 percent after Integro Technologies Limited (Integro), an Aurionpro Solutions subsidiary based in Singapore, announced winning orders from two large banks in Singapore. The orders, together valued at more than $3 million and for the upgrade and enhancement of the smart lender system, will be executed over the next two quarters.
Bharat Electronics: CMP: Rs 208.15: The stocks price ended in the green on March 30. The Ministry of Defence and Bharat Electronics Limited (BEL) signed a contract for Instrumented Electronic Warfare Range (IEWR) for the Indian Air Force.
The contract is a significant step towards enhancing the capabilities of IAF to prepare for future warfare. The overall cost of the contract is estimated to be Rs 1,109 crore.
The ministry and the BEL also concluded a contract for the supply of Advanced Electronic Warfare (EW) suite for fighter aircraft of IAF. The contract was signed between MoD and M/s BEL. The overall cost of the contract is estimated to be Rs 1993 crore.
Exide Industries: CMP: Rs 152.80: The scrip ended in the green on March 30. The board of directors of Exide Industries approved the scheme of amalgamation of wholly-owned subsidiary Chloride Power Systems and Solutions with the parent company.
The scheme is subject to approvals from the requisite majority of shareholders and creditors of the amalgamating parties (unless dispensed with), approval by the Kolkata Bench of the NCLT having jurisdiction over the amalgamating companies, and such other approvals, permissions and sanctions of regulatory and other statutory authorities / quasi-judicial authorities, as may be necessary, the company said in a filing with stock exchanges.
Ceat, Apollo Tyres: The stocks price of Ceat ended in the green, while that of Apollo Tyres closed in the red on March 30. India’s antitrust body on March 30 raided the offices of tyre companies, including India’s Ceat, Apollo Tyres and Germany’s Continental AG, in an alleged case of competition law violations, four sources told Reuters.
The raids were being conducted by the Competition Commission of India (CCI) officers across multiple cities, the sources said. One of the sources said the case relates to an antitrust probe into the use of unfair trade practices and rigging bids while supplying tyres for public transport vehicles in Haryana.