Get App
Dalal Street jumped on Thursday, tracking other Asian markets, as investors’ optimism was boosted by the progress on negotiations between Russia and Ukraine as well as the US Fed’s 25 basis points rate hike. The Sensex and the Nifty soared 1.84% each.
Broader equity indices also rose with Nifty Midcap 100 and BSE Small cap gaining 1.38% and 1.18%, respectively.
Top gainers in Nifty sector indices were Realty [3.13%], Financial Service [2.77%], Auto [2.18%], Energy [2.10%], Metal [1.95%]. Except Nifty IT [-0.24%], all other sector indices closed in the green.
Indian rupee jumped 47 paise to 75.79 against the US dollar.
Indian markets will be closed on Friday (Mar 18, 2022) on account of Holi festival.
Stock in News Today
Reliance Industries Ltd (RIL): The company is among a few firms that won bids to get incentives under India’s $2.4 billion battery program, reported Reuters citing people it did not identify. Reliance has won incentives for 5 Gwh capacity, the sources said. Four firms have won out of the ten bids submitted for a combined capacity of 130 gigawatt hours.
Indian Oil Corp Ltd (IOCL): The oil refiner has approved an investment of Rs 7,282 crore for the development of city gas distribution network in the nine geographical areas awarded to the company by Petroleum & Natural Gas Regulatory Board (PNGRB) in the latest round of bidding. The company will now have its presence in 26 geographical areas (GAs) on its own and a further 23 GAs through its joint venture companies. The project is expected to be operational by 2025.
NXTDigital Ltd: Shares of the company rose over 8% after the company announced in-principle approval for merger of Hinduja Leyland Finance Ltd. into itself. Hinduja Leyland Finance is one the leading NBFCs with an AUM of over Rs 29,000 crore and has a pan-India presence in 1,550 locations across 23 states and 2 UTs.
Godrej Properties Ltd: The company achieved sales of Rs 1,650 crore within a year of launching its project Godrej Woods in Noida. This is the highest ever sales achieved by any project of the company within one year of its launch. About 855 homes have been sold in the Godrej Woods project, including sales of Rs 509 crore in March 2021 and Rs 1,141 crore in FY2021-22 year-to-date.
Happiest Minds Technologies: The technology company announced a strategic partnership with OutSystems, a major player in the low-code application development market. The partnership will add low-code platform to Happiest Minds’ portfolio, and it will enable companies to develop, deploy, and manage omnichannel enterprise applications that run in the cloud, on-premise, or hybrid environments.
Hindustan Construction Company (HCC) and Om Infra Ltd: HCC, in consortium with Om lnfra (OMIL), has bagged a Rs 609 crore contract from Rajasthan Government for the construction of Nokha Water Supply project in Bikaner district. The contract involves construction of water distribution network for 1,000 km. The network will provide tapped drinking water to 154 villages and two towns.
Jindal Poly Films Ltd: Shares of the company rose over 13% in early trade but pared gains to close lower by 5.8%, after the company signed an agreement to sell 25% stake in packaging films business to Brookfield Asset Management. Under the deal, Brookfield will invest Rs 2,000 crore in Jindal Poly Films through its investment program. The deal is expected to close in the first half of FY2022-23.
PNC Infratech: Shares of the company rose 2.49% after the company announced the receipt of Rs 82.68 crore towards bonus for early completion of one of its EPC projects from Uttar Pradesh Expressways Industrial Development Authority (UPEIDA).
Yasho Industries: Shares of Yasho gained 2.26% after the company’s board approved capital expenditure of Rs 350 crore for phase-1 of its greenfield project at Pakhajan (Dahej), Gujarat. It will manufacture lubricant additives and rubber chemicals with a total capacity of 15500 MT per annum in phase-1 at this new facility. The project is expected to be completed in 24 months after receiving all necessary governmental approval.
Zydus Lifesciences Limited: The company has entered into Share Purchase, Subscription and Shareholder’s Agreement (“SPSSA”) to acquire up to 11.86% stake on a fully diluted basis in AMP Energy Green Nine Private Limited, for setting up captive Wind Solar Hybrid power project in Gujarat. This in-line with the company’s commitment to enhance the share of renewable power source in its operation.