The benchmark indices snapped their losing streak on March 21 as the US Fed pencilled in three rates cuts for 2024, making market participants happy. On March 21, the Sensex was up 539.50 points, or 0.75 percent, at 72,641.19, and the Nifty closed 173 points or 0.79 percent higher at 22,012.00. About 2,706 shares advanced, 974 declined and 95 were unchanged.
2/11
Sula Vineyards | CMP Rs 536.6 | Shares of Sula Vineyards surged 3 percent after Monarch Networth Capital initiated coverage on the company with a 'buy' call, based on the firm's market share, brand recognition and competitive advantage.
3/11
Muthoot Finance | CMP Rs 1,428 | Muthoot Finance stock zoomed 6 percent after gold surged to a new high following dovish commentary from the US Federal Reserve. Gold hit a fresh high of Rs 66,778 on MCX. In the international market, spot gold surged as markets heaved a sigh of relief as the Fed remained to track to three rate cuts this year.
4/11
IRB Infra | CMP 59.15 | Shares of IRB Infra soared 9 percent after Kotak Institutional Equities upgraded the stock and raised the fair value (FV), driven by adjustments to traffic estimates for private InvIT assets.
BSE | CMP Rs 2,253.35 | The BSE stock rallied 10 percent after Investec upgraded its rating for the scrip to "buy". The brokerage also assigned a price target of Rs 2,800, an upside of around 38 percent from the previous close. The brokerage cited strong traction in equity derivatives volumes, expectations of market share gains and stabilisation in metrics as factors driving the upgrade.
6/11
Jupiter Wagons | CMP Rs 344.2 | Shares of Jupiter Wagons gained 3 percent after the company completed the acquisition of Bonatrans India Private Limited (BIPL) for Rs 271 crore through a share-purchase agreement with its shareholders.
7/11
Wipro | CMP Rs 501 | The Wipro stock jumped 1.5 percent after the company appointed Anne-Marie (Annie) Rowland as CEO for British consulting firm Capco, which it acquired in 2021. The firm is one of the world’s largest, independent financial services management consultancy.
8/11
Tata Investment Corporation | CMP Rs 6,316.1 | Shares of Tata Investment Corporation fell 2 percent extending losses to ninth consecutive session. Three lakh shares changed hands compared to the monthly average of 2 lakh.
Metro Brands | CMP Rs 1,125 | The Metro Brands stock fell 4 percent with strong volumes after gaining 13 percent in the previous session. As many as 16 lakh shares were traded during the day compared to the monthly average of 2 lakh.
10/11
Himadri Speciality Chemical | CMP Rs 315.25 | Shares of Himadri Speciality Chemical fell a percent after the company announced it acquired a 40 percent stake in Invati Creations, which engineers lithium-ion electrode materials, for Rs 45.16 crore.
11/11
Prince Pipes and Fittings | CMP Rs 544.8 | Prince Pipes and Fittings gained 3 percent after the company entered into an asset-purchase agreement with Klaus Waren Fixtures Private Limited and NM Shah.
