Among sectors, Nifty IT and auto indices rose 3 percent each while BSE Midcap and Smallcap indices added 1.5 percent each.
Benchmark indices ended higher for the second consecutive session on March 2 with Nifty settling above 14,900, supported by IT and auto stocks. At close, Sensex was up 447.05 points or 0.90% at 50,296.89, while the Nifty was up 157.60 points or 1.07% at 14,919.10.
Bharat Electronics | 3CMP: Rs 151.70 | Teh scrip was up 4 percent as 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.
Shipping Corporation of India | CMP: Rs 124.50 | The stock price surged 20 percent after Department of Investment and Public Asset Management (DIPAM) Secretary said multiple expressions of interest were received for privatisation of the company and the said transaction will now move to the second stage.
Mahindra and Mahindra | CMP: Rs 857 | The stock price jumped over 4 percent after registering a 25 percent jump in tractor sales for February. Mahindra & Mahindra’s total tractor sales during the month registered a growth of 25 percent to 28,146 units, as against 22,561 units, YoY. CLSA has Mahindra & Mahindra as one of the top picks in the auto space. It is of the view that recovery in auto space continues off a low base. Tractor is the only segment that is growing strongly on a high base.
Bharti Airtel | CMP: Rs 541.70 | The stock gained over a percent on March 2. The company acquired 355.45 MHz and 2,300 MHz spectrum for Rs 18,699 crore. Telcos didn’t bid for 700 MHz due to high reserve prices. All of the spectrum will enable Airtel to deliver 5G services in the future, the company said.
Hero MotoCorp | CMP: Rs 3,481.20 | The share price was up 4 percent after the company’s total sales were up 1.5 percent YoY to 5,05,467 units against 4,98,242 units and its total domestic sales were up 0.9 percent to 4,84,433 units versus 4,80,196 units. The total exports of the company were up 18.1 percent YoY to 21,304 units versus 18,046 units.
BPCL | CMP: Rs 469.80 | The scrip was up over 3 percent after the company said that it will exit Numaligarh refinery in Assam. The company said it will exit Numaligarh refinery in Assam by selling its entire stake to a consortium of Oil India Ltd and Engineers India Ltd for Rs 9,876 crore.
Cipla | CMP: Rs 811.90 | The stock added over 2 percent after the company’s unit Cipla Gulf FZ LCC is expanding its partnership with Alvotech for the marketing and distribution of four biosimilar medicines in Australia and New Zealand. As part of this strategic alliance, Cipla Gulf will be responsible for commercialisation of patented biosimilars of four biologic medicine brands.
RITES | CMP: Rs 268.95 | The stock rose over 3 percent on March 2. The company got a Rs 67.18-crore order for signalling works from the ministry of railways. It also bagged the extension of general consultancy work for the Nagpur metro rail project and GEC positions from Gujarat Metro Rail Corporation amounting to Rs 26 crore.
Bajaj Healthcare | CMP: Rs 488.35 | The share was up 2 percent after the Maharashtra Pollution Control Board has vide its letter dated March 1, 2021 has given its consent to restart its manufacturing activities at the unit situated at Plot No.: N-178, MIDC Tarapur, Boisar.
Subex | CMP: Rs 28.85 | The stock jumped 5 percent after the company announced that it has become a member of the O-RAN Alliance to support the development and standardisation of Open RAN (radio access networks).
Sandip Das
