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POST-MARKET REPORT
The benchmark indices ended on a positive note on March 18 with Nifty around 22,050 amid buying across the sectors, except IT and FMCG.
At close, the Sensex was up 104.99 points or 0.14 percent at 72,748.42, and the Nifty was up 32.40 points or 0.15 percent at 22,055.70.
Tata Steel, M&M, JSW Steel, Tata Motors and Apollo Hospitals were among the top gainers on the Nifty, while losers included Tata Consumer Products, UPL, Infosys, Adani Ports, and Titan Company.
Among sectors, capital goods, healthcare, auto, realty, metal, and media were up 0.5-3 percent, while IT and FMCG shed 0.5-1.5 percent. Considering Broader markets, BSE Midcap and Smallcap indices ended on a flat note.
STOCKS TODAY
Tata Steel Ltd: The stock closed over 5 percent higher amid heavy volumes and multiple large deals. The upbeat sentiment also stemmed from China’s robust industrial output growth. Nearly 10 crore shares of Tata Steel were traded on March 18, more than double the last month’s average.
Torrent Power Ltd: The stock surged 3 percent after the company bagged a letter of award for setting up 300 MW solar hybrid projects worth Rs 3,650 crore. These will be commissioned within 24 months of the power purchase agreement (PPA).
KPI Green Energy Ltd: Shares surged 5 percent after the company emerged as the successful bidder of the Maharashtra State Power Generation tender for the 100MWAC solar power project development. KPI Green participated in the EPC package with land to develop a 600 MW solar project at various locations in Maharashtra.
Lupin Ltd: Shares of the pharma major slipped 1.5 percent in trade after the company received Form-483 with one observation for its Aurangabad facility. The United States Foods and Drugs Administration (US FDA) inspected the company’s manufacturing facility at Aurangabad from March 6 to March 15.
DroneAcharya Aerial Innovation Ltd: Shares of the company gained 5 percent after it secured a contract to supply IT hardware for the Indian Army’s drone lab in Jammu and Kashmir. The company has also bagged an order for the supply of Precision Mapping System from Earthtree Enviro.
LIC Ltd: Shares slipped over 2 percent on plans to raise wages by around 17 percent for its over 1.1 lakh employees. On March 15, LIC announced that it has received approval from the government for a wage revision for its employees, effective from August 1, 2022. This announcement benefits over 110,000 employees.
Gensol Engineering Ltd: Shares of the company were up 5 percent and locked in the upper circuit after the company announced it completed a 160 MW solar installation in Bhavnagar, Gujarat worth Rs 128 crore for Continuum Green Energy.