Gainers & Losers: Top 10 stocks that moved the most on March 8 The Nifty remained highly volatile throughout session and erased early gains to close marginally high on March 8, the first day of the week. Weak Asian peers and US futures and rising oil prices weighed on sentiment. The Bank Nifty opened positive at 35,462.45 but after a volatile start, it moved in a consolidative manner. After moving in a high-low range of 35,827.30-35,090.75, it ended the day 47.60 points higher at 35,275.80.
March 08, 2021 / 05:12 PM IST
The benchmark indices erased most of the intraday gains and ended marginally higher, snapping a two-day losing streak. At close, the Sensex was up 35.75 points, or 0.07 percent, at 50,441.07, and the Nifty was up 18.10 points, or 0.12 percent, at 14,956.20. The Nifty remained highly volatile throughout the session and erased early gains to close with marginal gains on March 8, the first day of the week. Weak Asian peers and US futures and rising oil prices weighed on sentiment. India VIX fell by 3.46 percent from 25.56 to 24.67. It has been in a broader range of 21.80 to 29.64 for the last 10 trading sessions. The Nifty50 remained highly volatile throughout the session and erased early gains to close marginally higher. Weak Asian peers and US futures and rising oil prices weighed on sentiment.
BEML | CMP: Rs 1,416 | The share price zoomed 20 percent after the company approved the appointment of Deloitte Haskins & Sells LPP, as the consultant for advising, undertaking and implementing demerger of non-core assets of the company. In a regulatory filing to exchanges, the company said the decision to this effect was taken at the company’s board meeting held on March 5. BEML’s disinvestment process has been undertaken by the Government of India. Tata Motors, Mahindra and Mahindra and Ashok Leyland are reportedly among the companies looking to acquire a 26 percent stake in the defence equipment maker. Bharat Forge and Megha Engineering and Infrastructure may also submit the expressions of interest for the Centre's stake in BEML, media reports said.
SBI Cards | CMP: Rs 1,070 | The share price gained over a percent on March 8. The company said that a meeting of the board of directors of the company is scheduled to be held on March 12, 2021, to consider and approve raising of funds by way of issuance of non-convertible debentures (NCDs), aggregating to Rs 2,000 crore in one or more tranches over a period of time.
Vivimed Labs | CMP: Rs 17.90 | The stock was up 3 percent after the company said it received approval from the Uzbekistan government for two products. The company got the nod for Bilastin tablets, which are used for the treatment of allergic rhino conjunctivitis and Urticaria, the Hyderabad-based company said in a regulatory filing. Vivimed has also received approval for Orzole combi, which is used to treat gastrointestinal infections such as acute diarrhoea or dysentery, gynaecological, lung and urinary infections, it added.
GMR Infrastructure | CMP: Rs 28.05 | The share ended in the green after the company said that it along with the group companies had filed the composite scheme of amalgamation and demerger among GMR Power Infra and GMR Power and Urban Infra with the National Company Law Tribunal (NCLT). "In continuation to our letters dated August 27, 2020 and December 21, 2020, regarding the Composite Scheme of Amalgamation and Demerger amongst the Company, GMR Power Infra and GMR Power and Urban Infra, including vertical split of Non-Airport Business (Demerger), we wish to inform that the company, GPIL and GPUIL have on March 5, 2021, filed the said composite scheme with the National Company Law Tribunal ("NCLT"), Mumbai for taking the scheme forward," GMR Infra said in the release.
Just Dial | CMP: Rs 963.95 | The scrip jumped 10 percent after the company signed an advertising agreement with Star India for the Indian Premier League (IPL) to be held in April-May 2021, the company said. Tata Digital, the digital arm of the salt-to-software services conglomerate, has held exploratory talks with Just Dial to strike a strategic alliance or pick up stake, as part of the Mumbai-based group’s push to enter the e-commerce space. Multiple people in the know of the discussion said on condition of anonymity that an initial round of conversations had taken place, although a final outcome was not imminent, according to an Economic Times report.
Aarti Drugs | CMP: Rs 693.50 | The stock price was up more than 4 percent. Aarti Speciality Chemicals (ASCL), a wholly-owned subsidiary of Aarti Drugs, stands out to be one of the beneficiaries of the government of India’s recently approved Production Linked Incentive for the pharmaceutical sector, the company said in a release. Aarti Speciality Chemicals received approval for 2-Methyl-5Nitro-Imidazole (2-MNI) with a committed production capacity of 4,000 MT per annum under target segment III (key chemical synthesis based KSMs/drug intermediates). The rate incentive will be 10 percent of sales value per annum for a period of six years— FY23 to FY28.
Tata Motors | CMP: Rs 321.35 | The stock ended in the red on March 8. The compamy said its shareholders approved hiving off its passenger vehicles business into a separate entity. The shareholders voted to consider and approve the transfer of the passenger vehicles business unit to TML Business Analytics Services Ltd on March 5 as a going concern on a slump sale basis for a lumpsum consideration. Tata Motors said total 2,15,41,38,392 votes were polled out of which 2,15,32,39,294 were in favour of the resolution, translating into 99.958 percent of the total votes, while 8,99,098 votes were against, the company said in an exchange filing.
Mold-Tek Packaging | CMP: Rs 419 | The share price added 2 percent after the company said its board of directors declared an interim dividend for FY21, at Rs 3 per equity share on the face value of Rs 5 per share. The dividend shall be paid on or from March 20 to April 7. The partly paid equity shareholders of the company will receive the dividends in proportion to the amount paid up on the equity shares, the company said in a regulatory filing.
Muthoot Finance | CMP: Rs 1,258 | The share shed over 2 percent following the death of Muthoot Group Chairman MG George Muthoot on March 5. George Muthoot was admitted to a hospital after falling from the fourth floor of his house in Delhi and was later declared dead, a police officer said.
Natco Pharma | CMP: Rs 854.05 | The stock added 2 percent after the company's marketing partner Breckenridge Pharmaceutical Inc (BPI) said it received the final approval for its Abbreviated New Drug Application for Everolimus Tablets (generic for Afinitor) from the US Food and Drug Administration, the company said in the press release.