Except FMCG, other sectoral indices are trading in the green with metal index rose 4 percent and energy index added 3 percent. BSE midcap and smallcap indices up 1 percent each.
The benchmark indices ended higher on February 25, with the Nifty ending the February series near 15,100, supported by the metal and energy stocks. At close, the Sensex was up 257.62 points, or 0.51%, at 51,039.31, and the Nifty was up 115.40 points or 0.77% at 15,097.40.
Ashok Leyland | CMP: Rs 131.15 | The share price gained over 3 percent after the announced its decision to acquire a 38 percent stake in Hinduja Tech Limited (HTL). “… has entered into a share purchase agreement with Nissan International Holding BV to acquire 58,500,000 shares for a total consideration of Rs 70,20,00,000 constituting 38% in the paid-up share capital of Hinduja Tech Limited (HTL),” the company said in the release.
Bharat Electronics | CMP: Rs 141.65 | The stock was up over 3 percent after the company said it was going to consider a second interim dividend. The company’s board would meet on March 16, 2021 to consider and approve a second interim dividend for the financial year 2020-21, the state-owned aerospace and defence firm said in the release. The record date for the payment of the dividend on equity shares for the financial year 2020-21, if declared, would be March 24, 2021.
Bharti Airtel | CMP: Rs 579.15 | The scrip added a percent after the company said it had raised $ 1.25 billion through debt instruments. The special committee of directors for debt fundraising, on February 25, 2021, approved the pricing, tenure and other terms and conditions for iissuance of senior unsecured foreign currency (USD) denominated notes aggregating to $ 750 million, the company said in the release.
Max Financial Services | CMP: Rs 889.15 | The stock jumped over 4 percent after the Insurance Regulatory and Development Authority of India (IRDAI) gave its nod for the acquisition of up to 12 percent stake in Max Life Insurance by Axis Bank and its subsidiaries. Max Financial Services said in a statement that in addition, Axis Entities have the right to acquire an additional stake of up to 7 percent in Max Life, in one or more tranches, which they intend to acquire over the course of the next few years.
Gujarat Alkalies | CMP: Rs 321.90 | The share price was up 2 percent on February 25. The company in its press release said that it has entered into an agreement for availing external commercial borrowing (ECB) facility of $ 70 million from State Bank of India.
Coal India | CMP: Rs 156.35 | The stock jumped over 8 percent on February 25. The company plans to enter 26 new business segments with private companies. It is going to form JVs on new business segments by Q2 of FY22 and plans to invest Rs 1.43 lakh crore in new business segments by 2024, CNBC-TV18 quoted sources as saying.
Dredging Corporation | CMP: Rs 362.80 | The share price ended in the green after the company signed MoU to construct first-ever trailing suction hopper dredger in an Indian shipyard for the first time with Cochin Shipyard.
Jubilant Industries | CMP: Rs 218.90 | The stock was up over 3 percent after the company’s restructuring committee is evaluating the possibility of a merger/restructuring involving the company, certain promoters of the company and Jubilant Agri and Consumer Products Ltd, a wholly-owned subsidiary of the company.
Cadila Healthcare | CMP: Rs 437.50 | The share was up a percent after the pharma company received final approval from USFDA to market Nortriptyline Hydrochloride Capsules USP, 10 mg, 25 mg, 50 mg and 75 mg. It now has 313 approvals and has, so far, filed over 400 ANDAs since the commencement of the filing process in FY 2003-04.
IIFL Finance | CMP: Rs 277.80 | The stock added 2 percent after the company won the bid to acquire about 1.1 million demat accounts held by Karvy Stock Broking, while Axis Securities emerged as the successful bidder for trading accounts (broking accounts) held by Karvy. IIFL also raised Rs 100 crore through non-convertible debentures (NCDs) on a private placement basis. It said NCDs would be listed on the National Stock Exchange.
Sandip Das
