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POST-MARKET REPORT
Indian markets ended lower with Nifty below 22,350 as investors remained cautious ahead of the release of US inflation data tomorrow. At close, the Sensex was down 616.75 points or 0.83 percent at 73,502.64, and the Nifty was down 160.80 points or 0.71 percent at 22,332.70.
Top losers on the Nifty were Tata Consumer Products, Power Grid Corporation, Tata Steel, Bajaj Auto, and SBI, while gainers included Apollo Hospitals, Nestle India, Cipla, SBI Life Insurance and Bajaj Finserv.
All the sectoral indices ended in the red with auto, capital goods, FMCG, oil & gas, bank, Information Technology, realty, metal, and power down 0.5-1 percent each.
The BSE mid-cap index shed 0.2 percent and the small-cap index fell 2 percent.
STOCKS TODAY
Gensol Engineering: Shares of Gensol Engineering fell 7.67 percent despite the company winning an order for a 70 MW/140 MWh out of 250 MW/500 MWh standalone Battery Energy Storage Systems (BESS) project, which is expected to contribute Rs 450 crore revenue to the company.
NLC India: NLC India stock rallied 6.06 percent as the company opened its offer-for-sale (OFS) to retail investors. The government is planning to sell a 5 percent stake or 6.93 crore equity shares through the OFS route with an option to sell an additional stake of up to 2 percent in case of over-subscription. The floor price for the issue is set at Rs 212 per share.
Torrent Power: Torrent Power stock rallied 12 percent intraday and hit an all-time high after the company won a 306 megawatt (MW) solar project in Maharashtra for Rs 1,540 crore. However, the stock lost some of its gains and closed at 1.52 percent in the green.
RVNL: Shares of RVNL gained 3 percent after the company received orders worth Rs 1,826.14 crore. The company received orders from Himachal Pradesh State Electricity Board, Madhya Pradesh Metro Rail Corporation etc.
Alembic Pharma: Alembic Pharma stock declined 1.99 percent after the US Food and Drug Administration (US FDA) issued a Form 483 with four observations for the drugmaker’s Gujarat plant. The four observations issued are procedural. The US drug regulator inspected the oncology formulations (injectable and oral solid) unit at Panelav from February 28 to March 8.
GAIL India: Shares of GAIL India fell 2.68 percent after the company along with Oil and Natural Gas Corporation (ONGC) and Shell Energy India (SEI) signed a tripartite Memorandum of Understanding on March 7 to explore opportunities for the import of ethane and other hydrocarbons.
Coal India: Coal India stock fell 1.33 percent even after the company signed an agreement with Rajasthan Rajya Vidyut Utpadan Nigam (RRVUNL) to explore opportunities for securing power to meet the growing demand in Rajasthan.