Except auto, other sectoral indices ended in the green with Nifty Metal and PSU Bank indices adding 3 percent, while Nifty Bank index rose 2.7 percent. BSE Midcap and Smallcap indices jumped over 1 percent each.
Indian indices rallied further on March 3 with Sensex closing above 51,000, mainly supported by the metal and financial names. At close, Sensex was up 1,147.76 points or 2.28% at 51,444.65, and the Nifty was up 326.50 points or 2.19% at 15,245.60.
Bank of Baroda | CMP: Rs 85.95 | The stock jumped over 3 percent on March 3. The state-owned bank raised Rs 4,500 crore equity capital through qualified institutional placement (QIP). The capital raising committee of the board on March 3 approved the issue and allotment of 55,07,95,593 equity shares to eligible qualified institutional buyers at issue price of Rs 81.70 per share against the floor price of Rs 85.98 apiece.
Marico | CMP: Rs 408.55 | The stock price ended in the green after the FMCG major said its board has declared a second interim dividend of Rs 4.50 per equity share for FY2020-21. “The board of directors of the company at its meeting approved the declaration of second interim equity dividend for the financial year 2020-21 of Rs 4.50 per equity share of Re 1 each, being 450 percent on the paid-up equity share capital of Rs 129.13 crore,” it said in a regulatory filing.
Bharti Airtel | CMP: Rs 546.85 | The scrip added over a percent after the telecom major said it has acquired radiowaves worth Rs 18,699 crore in the latest spectrum auction. The telco has acquired 355.45 MHz spectrum across Sub GHz, mid band and 2300 MHz bands, giving it “most formidable” spectrum holding in the country, Airtel said in a statement.
Engineers India | CMP: Rs 89 | The stock added 2 percent after Indian Oil Corporation awarded a project for execution of consultancy for overall project management and EPCM Services (Phase II) for capacity expansion of Panipat refinery from 15 MMTPA to 25 MMTPA (P-25 Project) to the company. The total awarded order value is around Rs 600 crore with a total project schedule of 40 months for mechanical completion.
REC | CMP: Rs 146.60 | The stock jumped over 4 percent as a meeting of the board of directors of REC will be held on March 10, 2021 to consider proposals for declaration of second interim dividend for the financial year 2020-21 and market borrowing programme of the company for the financial year 2021-22.
Kalpataru Power | CMP: Rs 398.70 | The stock was up 2 percent after the company secured new orders / notification of award of Rs 1,554 crore. It included orders from India, CIS and Latin America in the power transmission business and its international subsidiary has secured new power transmission projects in Europe, the company said in the release.
Tata Power | CMP: Rs 105.25 | The scrip gained 5 percent after the company announced that TP Saurya Limited, the wholly-owned subsidiary of The Tata Power Company Limited, has signed a Power Purchase Agreement with Tata Steel to develop a 15 MW solar project at Jamshedpur, Jharkhand, the company said in an exchange filing.
IRCON International | CMP: Rs 90.80 | The stock price was down over 7 percent as the government is going to divest 10 percent stake of the company via offer for sale (OFS). The OFS is set to open on March 3 for non-retail investors. The floor price of the offer has been set at Rs 88 apiece against Tuesday’s closing price of Rs 97.85 on the BSE.
RPP Infra | CMP: Rs 77.70 | The share price jumped 5 percent after the firm said it has bagged four orders worth Rs 1,000 crore. The company, in an exchange filing, on March 3 announced that it has received four letters of acceptance for four new projects. Among the four orders that the company has won, one is from the Tamil Nadu Water Supply and Drainage Board under the Jal Jeevan Mission worth Rs 131.14 crore. It has bagged another order from the Highways Department as part of the Chennai-Kanyakumari Industrial Corridor Project which involves upgrading two stretches of the road at a total contract price of Rs 558.66 crore.
Power Mech | CMP: Rs 546.70 | The stock ended in the green on March 3 after the company bagged orders worth Rs 734 crore. The engineering and construction firm in a regulatory filing said that it has won an order worth Rs 401 crore for operation and maintenance of boilers & auxiliaries and other miscellaneous jobs of 4 x 660 MW, Thermal Power Plant of Vedanta Limited, Jharsuguda. The company has also won another order of Rs 198 crore for engineering, procurement, and construction (EPC) works for Kurmitar Iron Ore Mining Private Limited, Odisha.
Sandip Das
