The benchmark indices ended the session in the red but recovered about 600 points from the day's low, with the Sensex closing 689.78 points, or 1.23%, at 55,557.50, and the Nifty shedding 165.10 points, or 0.98%, at 16,628.80.
2/6
Coal India: CMP: Rs 184 | The stock price jumped over 8 percent after the company's production for February grew 4 percent YoY, while the same during April-February was up 5 percent YoY. Growth in offtake for the reporting month was 12 percent YoY and for April-February nearly 17 percent YoY. The consolidated revenue from operations during October-December increased to Rs 28,433.50 crore from Rs 23,686.03 crore in the year-ago period.
3/6
Maruti Suzuki | CMP: Rs 7,815.15 | The scrip fell 6 percent on March 2. Maruti Suzuki said its production saw a marginal increase in February. In a regulatory filing, the auto major reported total production of 1,69,692 units in February, compared to 1,68,180 units in the same month last year. "The shortage of electronic components had a minor impact on the production of vehicles during the month," it added. The company said its passenger vehicle production stood at 1,65,672 units against 1,65,783 units in February 2021.
4/6
Dr Reddy's Labs | CMP: Rs 3,854.20 | The stock price shed over 5 percent as India's production and exports of Russia's Sputnik Covid-19 vaccines are expected to slow further following US sanctions on Russia's sovereign wealth fund that promotes the shot globally, three Indian pharmaceutical industry sources told Reuters. The Russian Direct Investment Fund (RDIF) billed India as one of Sputnik's biggest production hubs and markets, though local sales have stagnated at 1.2 million doses out of 1.8 billion doses of various vaccines administered in the country. Dr Reddy's Labs, which has been selling its products in and around Russia for more than three decades, said it didn't see any impact as Indian companies no longer import material from Russia to make Sputnik shots.
5/6
Bajaj Auto | CMP: Rs 3,367.15 | The share price shed over 4 percent after the auto firm reported a 16 percent drop in its total sales to 3,16,020 units in February. The company had sold 3,75,017 units in February 2021. Domestic sales in February stood at 1,12,747 units as against 1,64,811 units in the year-ago period, down 32 percent, Bajaj Auto said in a regulatory filing. Total two-wheeler sales declined 16 percent to 2,79,337 units from 3,32,563 vehicles in February 2021.
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Religare Enterprises | CMP: Rs 129.80 | The scrip jumped over 5 percent after the company informed exchanges that it was debt-free and was planning a foray into several new segments. The firm repaid Rs 185.50 crore it owed to its arm, Religare Finvest Ltd (RFL). Religare Enterprises also said that it would enter new strategic sectors, including asset reconstruction, alternate investment funds, insurance banking and digital wealth management, embarking on a new era of growth. "The identified sectors have business synergies with existing BFSI verticals of Religare Enterprises and this should have a multiplier effect in Religare group's business and financial performance,” it said.
