The Indian equity benchmarks ended higher in yet another volatile session on March 17. At close, the Sensex was up 355.06 points, or 0.62%, at 57,989.90 and the Nifty was up 114.40 points, or 0.67%, at 17,100.
2/11
Zee Entertainment Enterprises | CMP: Rs 206.05 | The stock ended in the red on March 17 after Zee Entertainment Enterprises described as "speculative" a new report that said the company was set to repay $10 million to IndusInd Bank to wrap up the deal with Sony. Issuing a clarification to the stock exchanges, the media company said that it was exploring several strategies, including settlement, in relation to the dispute mentioned in the news report.
3/11
FSN E-Commerce Ventures | CMP: Rs 140 | The share price ended in the green on March 17 after the company saw a huge block deal. According to Bloomberg, 6.57 million shares, or 0.23 percent equity, of Nykaa worth Rs 93.2 crore changed hands at Rs 141.90 apiece in bunched trade. Recently, brokerage firm Nomura reiterated its “buy” rating on Nykaa with a target price of Rs 214, an implied upside of 55 percent over the closing price of Rs 138 on March 16.
4/11
KPIT Technologies | CMP: Rs 869 | The scrip jumped over 6 percent after the company’s CEO and MD Kishor Patil said the firm's tie-up with Honda was the largest engagement for SDM (Software defined mobility). KPIT Technologies, which provides software solutions to the automotive and mobility industry, announced a partnership with Honda on March 15. The partnership aims to accelerate Honda’s software-defined mobility journey.
5/11
GAIL (India) | CMP: Rs 110.10 | The share ended in the green on March 17 after the company signed an MoU with Shell Energy India for hydrocarbon imports. India's largest gas utility firm said it has signed an agreement with Shell Energy India Pvt Ltd to explore ethane sourcing and other opportunities along the energy value chain. GAIL is planning to import ethane from the US to replace natural gas and naphtha as feedstock at petrochemical plants.
6/11
Jubilant Pharmova | CMP: Rs 306.45 | The stock surged over 10 percent after the company's subsidiary received an additional loan facility from the Government of Canada for capacity expansion. Jubilant Pharmova said its subsidiary Jubilant HollisterStier received approval from the Canadian government to provide, through its strategic innovation fund (SIF) programme, a partially repayable loan of CAD 23.8 million to fund the CAD 108-million capacity expansion at the Montreal manufacturing facility.
7/11
VA Tech Wabag | CMP: Rs 335 | The scrip gained 5 percent after the company said it received a Rs 800-crore order from the Dhaka Water Supply & Sewerage Authority in Bangladesh. It has to design, build and operate the expansion of Pagla Sewage Treatment Plant (STP) with a capacity of 200 million litres a day (MLD) at Pagla in Dhaka, the company said in a release to media.
8/11
Rail Vikas Nigam | CMP: Rs 62.85 | The stock price ended in the green after the firm announced bagging a Rs 112-crore order in Madhya Pradesh. According to an exchange filing, RVNL secured the contract for the supply, installation, testing, and commissioning of various 11 KV line-associated works in Singrauli, Sagar, Damoh, Chhatarpur, Panna and Tikamgarh Circles of MPPKVVCL in the Jabalpur company area.
9/11
TeamLease Services | CMP: Rs 2,378 | The stock price ended in the red. The company's board of directors approved April 3, 2023 as the record date for the purpose of determining the entitlement and names of shareholders who will be eligible to participate in the proposed buyback.
10/11
IDBI Bank | CMP: Rs 46.85 | The scrip jumped over 5 percent after DIPAM secretary clarified that the IDBI divestment process was on track and news reports claiming that the process has been deferred were misleading and speculative. He said that the process was in the post- (Expression of Interest) EoI stage following receipts of multiple EoIs. "Reports appearing in a section of the media indicating the possibility of deferment of IDBI Bank disinvestment are misleading, speculative and baseless. The transaction continues to be on track as per the defined process in post-EoI stage following receipts of multiple EoIs," the DIPAM secretary tweeted.
11/11
Transport Corporation of India | CMP: Rs 630 | The share price ended in the green, up almost 2 percent, after HDFC Mutual Fund through several schemes bought an additional 2.04 percent stake, or 15.78 lakh shares, in Transport Corporation of India via open market transactions on March 14. With this, the shareholding of the fund house increased to 7.7 percent from 5.66 percent.
