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POST-MARKET REPORT
The Indian benchmark indices ended on a mixed note with BSE Sensex rising 165.32 points or 0.22 percent at 73,667.96, while the Nifty gained three points or 0.01 percent at 22,335.70.
Top gainers on the Nifty included HDFC Bank, TCS, LTIMindtree, Maruti Suzuki, and Infosys, while losers were Adani Enterprises, Cipla, Grasim Industries, Adani Ports and SBI.
Among the sectors, except IT all other indices ended in the red with the realty index down nearly 3.5 percent, PSU Bank and Media indices down two percent each, while capital goods, FMCG, healthcare, metal, and power indices fell one percent each.
BSE Midcap index was down 1.3 percent and Smallcap index shed two percent.
The rupee closed at 82.7675 against the US dollar. It traded in a narrow band from 82.7250 to 82.7725 for the session.
STOCKS TODAY
SpiceJet Ltd: Shares of SpiceJet crashed 9 percent on March 12 after reports suggested that the Chief Operating Officer (COO) Arun Kashyap and Chief Commercial Officer Shilpa Bhatia have tendered their resignation. Commenting on this development, the management said that this was a part of SpiceJet’s strategic restructuring and the company continues to see significant growth in revenue and load factor.
Aditya Birla Capital Ltd: Shares of Aditya Birla Capital gained over 2 percent on March 12, a day after the board of directors of Aditya Birla Capital Limited approved the merger of Aditya Birla Finance Ltd with itself on March 11. The merger was announced post-market hours. Post amalgamation, Aditya Birla Capital will get converted from a holding company to an operating NBFC, the company said, creating a unified large entity with greater financial strength and flexibility enabling direct access to capital
Aurobindo Pharma Ltd: Aurobindo Pharma shares fell nearly 2 percent on March 12 after the company’s subsidiary received WHO GMP approval. The Prequalification Unit Inspection Team of the World Health Organization inspected Unit IV, a formulation manufacturing facility of a wholly-owned subsidiary, APL Healthcare, situated at Menakuru Village, Naidupeta Mandal, Tirupati District, Andhra Pradesh, between September 11 and September 15, 2023.
Jupiter Wagons Ltd: The shares of Jupiter Wagons Limited crashed 6.18 percent on March 12 despite receiving orders from the Railways Ministry. The stock had increased intraday, following the announcement that the Railway Ministry had placed an order for the manufacturing and supply of 2,237 BOSM wagons. These wagons are designed to efficiently transport bulk goods, such as coal and ore, within the Indian railway network.
Bata India Ltd: Shares of Bata fell 1.38 percent on March 12 after research firm Geojit downgraded the stock’s rating from buy to ‘accumulate’. The firm set a revised target price for the stock at Rs 1,670, owing to Bata’s enhanced investments in technology and marketing, as well as tight control on overhead costs.
GAIL India Ltd: Shares of GAIL fell 1.82 percent as research firm Emkay Global Financial announced a ‘reduce’ rating for the stock with a target price of Rs 145 per share. The firm highlighted the adverse commodity price- margins, regulations and outages as key risks posed for the company, however, it plans to soon review its estimates, target price, and recommendations for the stock.