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POST-MARKET REPORT
Indian equity benchmarks the Sensex and the Nifty hit fresh record highs on March 1 amid better-than-expected GDP data and improved auto sales numbers.
At close, the Sensex was up 1,245.05 points, or 1.72 percent, at 73,745.35, and the Nifty was up 356.00 points, or 1.62 percent, at 22,338.80. For the week, the Sensex gained 0.8 percent and the Nifty added 0.5 percent.
The biggest Nifty gainers were Tata Steel, L&T, JSW Steel, Titan Company, and IndusInd Bank, while losers were Dr Reddy’s Laboratories, Sun Pharma, HCL Technologies, Infosys, and Britannia Industries.
Among sectors, the metal index was up 4 percent, while auto, bank, capital goods, and oil & gas were up 2 percent each while the healthcare index was down 1 percent and the Information Technology index was down 0.5 percent.
Regarding Broader markets, BSE midcap and smallcap indices added 0.5 percent each.
STOCKS TODAY
ICICI Bank: The ICICI Bank stock surged 3.12 percent after the private lender increased its stake in ICICI Lombard General Insurance via an open market transaction, the second such purchase in a week. The transaction comes within days of the private sector lender purchasing a 1.6 percent stake in the insurer for Rs 1,356 crore.
Tata Investment Corporation: Shares of Tata Investment Corporation rallied 5 percent a day after the Union Cabinet approved three semiconductor plant proposals, two of which would be set up by Tata Group. Two of the three plants will be built in Gujarat and one in Assam at an estimated cost of Rs 1.26 lakh crore.
Aurobindo Pharma: The Aurobindo Pharma stock traded down after the company received seven observations from the United States Food and Drug Administration (USFDA). The USFDA inspected the injectable facility of Eugia SEZ Pvt Ltd, a 100 percent step-down subsidiary of Aurobindo Pharma, in Telangana’s Mahaboobnagar district from February 19 to 29.
Suven Pharma: The Suven Pharma stock gained 12.49 percent a day after the firm announced a scheme of amalgamation for a merger with Cohance Lifesciences. The transaction is expected to conclude over next the 12-15 months, subject to shareholder and regulatory approvals, the company said in a release.
CMS Info Systems: Shares of CMS Info Systems gained 4 percent a day after the cash management company said that CEO Rajiv Kaul had increased his stake in the company. In a post-market hours release, CMS Info Systems said Kaul raised his stake in the firm to 6.2 percent from 2.6 percent by exercising his employee stock options (ESOPs).
CG Power: CG Power and Industrial Solutions stock rallied 4.46 percent after the company signed a joint venture agreement with Renesas Microelectronics and Stars Microelectronics to build and operate an outsourced semiconductor assembly and test facility.
Paytm: The Paytm stock gained 5 percent and hit the upper circuit after the fintech’s board gave its approval for the discontinuation of several inter-company agreements with its associate entity, Paytm Payments Bank Limited (PPBL).