Markets staged a stunning rally on March 3 - the last day of the trading week. Sensex gained 899 points to close at 59,808. Nifty rallied 272.40 points to 17,594.30. About 2,113 shares advanced, 1,307 shares declined, and 122 shares remained unchanged. Take a look at the top gainers and losers
2/11
Adani Enterprises | CMP: Rs 1874 | All Adani group companies saw a sharp spike in share prices after an investment of Rs 15,446 crore by GQG Partners lifted sentiments. Adani Enterprises was the top index gainer, surging over 16 percent.
3/11
Adani Green Energy | CMP: Rs 561.75 | Apart from GQG Partners' investment, Adani Green Energy shares were also in focus as the company's operating renewable portfolio reached 8,024 MW. This is the largest in India. The stock was locked in a 5 percent upper circuit.
4/11
GAIL (India) | CMP: Rs 105.25 | Morgan Stanley gave an Outperform rating to GAIL India with a target price of Rs 124. Morgan Stanley's optimistic stance stems from the Petroleum and Natural Gas Regulatory Board's proposal to increase tariffs for the unified pipeline by 41 percent. If approved, the price hike is expected to result in a 25 percent increase in transmission revenue. The stock surged over 2 percent in trade.
Shree Cements | CMP: Rs 25,820.50 | Goldman Sachs downgraded Shree Cements to Sell from Neutral with a price target of Rs 23,550. The firm values Shree Cements at 14x, in-line with UltraTech Cement but this is lower than Shree Cement's long-term median of 16.5x. The stock ended 2.8 percent lower.
6/11
Vedanta Limited | CMP: Rs 288.70 | The company is in initial talks with at least three banks including Barclays, JP Morgan, and Standard Chartered for loans up to $1 billion, Bloomberg reported. The stock ended 5 percent higher in trade.
7/11
Natco Pharma | CMP: Rs 559.85 | The stock gained 1.2 percent on March 3, a day after the company said it will consider a proposal for a share buyback. The Board of Directors will meet on March 8 for the same.
8/11
Angel One | CMP: Rs 1,116 | Angel One shares gained 5 percent following the release of a strong business update for February. The update indicated healthy growth in the company's client base, with an increase of 3.4 percent on a month-on-month basis, bringing the total number of clients to 1.33 crore in February.
SBI | CMP: Rs 561 | PSU Banks were the top sectoral gainers on March 3 after the ports-to-power Adani conglomerate raised funds by selling some of its holdings in companies to trim debt. The high debt level has been a key concern for traders and investors and was also flagged by American short-seller Hindenburg Research. The stock gained over 5 percent.
10/11
Patel Engineering | CMP: Rs 15.60 | Shares of Patel Engineering soared over 7 percent after the company bagged an irrigation order worth Rs 640.06 crore. The company along with its JV Partners have received a letter of award for Rihand Micro Irrigation Project from the Department of Water Resources, Madhya Pradesh.
11/11
Yes Bank | CMP: Rs 16.85 | The Supreme Court, while hearing the Yes Bank additional tier 1 (AT1) bonds case on March 3, directed to put on hold the order issued by the Bombay High Court that quashed the lender's write-off of bonds. The stock took a beating and ended 3.7 percent lower.
