Gainers & Losers: Five stocks that moved the most on March 3 Among sectors, auto, capital goods and bank fell 1-2 percent, while FMCG and realty indices down 0.5 percent each. However, metal, IT, oil & gas, power indices rose 1-2 percent. BSE midcap index shed 0.6 percent and smallcap index rose 0.35 percent.
March 03, 2022 / 04:13 PM IST
Benchmark indices ended lower with Nifty below 16500 in the highly volatile market on March 3 dragged by the auto and financial names. At close, the Sensex was down 366.22 points or 0.66% at 55,102.68, and the Nifty was down 108 points or 0.65% at 16,498.
Vedanta | CMP: Rs 395.35 | The stock gained over 2 percent on March 3. The company's board declared an interim dividend of Rs 13 per share. "The board of Vedanta through a resolution passed by circulation on March 2 has approved the third interim dividend of Rs 13 per share, that is, 1300% on face value of Re 1 per share for the financial year 2021-22 amounting to Rs 4,832 crore," the press release said. The record date for the purpose of payment of dividend is March 10, the release added.
ONGC | CMP: Rs 170.45 | The stock price jumped over 4 percent as global crude oil prices continued their ascent to hit their highest level in eight years. Brent crude oil futures soared past the $118-mark and were up nearly 3 percent as the ongoing invasion of Ukraine by Russia showed no signs of easing. The sanctions imposed on the Russian economy by members of the North Atlantic Treaty Organisation have led to concerns of the country’s oil exports being cut-off. Morgan Stanley sees the commodity rising to $125 per barrel due to the ongoing Ukraine crisis.
Vodafone Idea | CMP: Rs 11.05 | The scrip added over 5 percent on March 3. Vodafone Idea board meeting is scheduled to consider and evaluate any and all proposals for raising of funds in one or more tranches. The company is likely to raise Rs 5,500-6,000 crore with its promoter Vodafone Plc to infuse proceeds from Indus Towers stake sale, quoting Sources, reported CNBC-TV18.
Mukand | CMP: Rs 135.10 | The share price rose over 4 percent after the stainless steel company executed an agreement to sell 47 acres of its land in Thane for Rs 806.14 crore. The stock has been trading flat in the past one week and one month but has gained 108 percent in the past one year.
Muthoot Finance | CMP: Rs 1,420 | The share price was up over 2 percent on March 3. Research firm Motilal Oswal announced a buy call on the stock with a target of Rs 1,750 and upside of 26 percent. According to the brokerage firm, Muthoot Finance is the top pick from the NBFC space for 2022. The brokerage believes that Muthoot Finance ticks all the right boxes including strong execution track record of the management and the next generation of the family being groomed to take up leadership positions in the future.