The market ended in the red for the second consecutive day on March 5 amid weak global cues. The Sensex closed 440.76 points, or 0.87 percent, lower at 50,405.32, while the Nifty was down 142.70 points, or 0.95 percent, at 14,938.10. All the sectoral indices ended in the red, with the Nifty PSU bank index shedding 4 percent and the metal index slipping 2.7 percent. Nifty auto, IT and pharma indices were down 1 percent each. Mid and smallcaps indices underperformed the benchmarks, losing 1.5-2 percent. On the BSE, the metal index fell 2 percent, while other indices fell a percent each. However, the oil & gas index ended with marginal gains. The Nifty formed a small bearish candle on the daily scale with long shadows on either side, pointing to a tussle between the bulls and the bears. The index continued to form lower highs-lower lows for the second session.
Tata Motors | CMP: Rs 326.45 | The stock was down over 3 percent after a double-digit decline in JLR’s United Kingdom sales. Luxury car-maker Jaguar Land Rover sold 2,171 vehicles in the United Kingdom in February 2021 against 2,929 vehicles sold in the same month last year, registering a 26 percent decline, CNBC-TV18 reported. Jaguar brand sales fell 60.6 percent year-on-year to 334 vehicles, and Land Rover sales dropped 11.7 percent to 1,837 vehicles. At home, Tata Motors said it registered domestic sales of 58,473 vehicles in February 2021, a growth of 54 percent over last year, while the total sales stood at 61,365 vehicles, compared to 40,619 units sold in the year-ago period.
Wipro | CMP: Rs 422 | The stock shed 3 percent after global brokerages flagged integration concerns after the IT company acquired Capco. CLSA has an underperform rating with a target of Rs 460. Jefferies, too, has an underperform rating on the stock and has cut the target to Rs 380 from Rs 400. UBS has a neutral call, with the target at Rs 470. Capco will bolster BFSI credentials of the company, Wipro said of its biggest-ever acquisition. Credit Suisse has a neutral call on the stock as well, with the target at Rs 500 per share. It said the company was taking the right steps towards its transformation journey.
Quick Heal Technologies | CMP: Rs 180 | The share price gained more than 4 percent after the firm said a board meeting on March 10 would consider and approve the proposal for buying back the fully paid-up equity shares of the company. “Pursuant to regulations 29(1) and 29(2) of the listing regulations, it is hereby notified that a board meeting of the company is scheduled on March 10, 2021 to consider and approve a proposal for the buy back of the fully paid-up equity shares of the company,” Quick Heal told exchanges.
UltraTech Cement | CMP: Rs 6,800 | The scrip ended in the green on March 5. The stock hit a market cap of Rs 2,00,000 crore but ended the day at Rs 1,96,518.85 crore. The stock has been in focus after robust demand and price hike reports. The company reported a 122.8 percent year-on-year increase in consolidated net profit at Rs 1,584.58 crore on a 17.4 percent rise in net sales to Rs 12,254.12 crore in the December quarter.
Coal India | CMP: Rs 151.70 | The stock ended in the red on March 5, the day the state-owned company declared its second interim dividend. The Board of Directors in its meeting on March 5, 2021, had approved an interim dividend for the financial year 2020-21 at Rs 5 per share of the face value of Rs 10 per equity share, the company said.
Shilpa Medicare | CMP: Rs 375.20 | The share price was down more than 2 percent on March 5. The company received the US Food and Drug Administration tentative approval for its ANDA, Apremilast Tablets, 10 mg, 20 mg, and 30 mg a day earlier. The ANDA was filed as ‘First to File’ submission on NCE -1 date to seek eligibility for 180 days exclusivity. Apremilast Tablets, 10 mg, 20 mg, and 30 mg is a generic equivalent of reference listed drug (RLD) OTEZLA of Celgene used in the treatment of ‘psoriatic arthritis’ as recommended in the label approved by FDA.
Unichem Labs | CMP: Rs 346.95 | The scrip ended in the green after the company received ANDA approval for its guanfacine tablets, USP 1 mg and 2 mg from the United States Food and Drug Administration to market a generic version of TENEX (Guanfacine) tablets 1 mg and 2 mg of Promius Pharma LLC. Guanfacine tablets are indicated in the management of hypertension. The product will be commercialised from Unichem’s Ghaziabad Plant.
Tejas Networks | CMP: Rs 191.90 | The share price ended in the red on March 5. The company announced that GigNet, a leading digital infrastructure company in Mexico, had selected the company’s optical networking and broadband access products for its state-of-the-art, high-capacity fibre optic network expansion in the Cancun region of Mexico.
Dilip Buildcon | CMP: Rs 671 | The stock fell over 4 percent on March 5. A day earlier the company received the letter of acceptance for two projects worth Rs 2439 crore from the National Highways Authority of India (NHAI) on hybrid annuity basis in Karnataka. The first project involves four-laning the Bangalore-Malur section of the Bangalore Chennai Expressway on a hybrid annuity mode under the Bharatmala Pariyojna. The project cost is Rs 1,160 crore and it is to be completed in 24 months. The length of the project is 27.10 kilometre with an operation period of 15 years.
ICICI Lombard | CMP: Rs 1,495.30 | The stock price added over a percent after the board of directors of the company approved the declaration and payment of an interim dividend of Rs 4 per share at the rate of 40 percent of a face value of Rs 10 each for FY2021, the insurer said in a regulatory filing. The interim dividend will be paid to shareholders whose names appear in the record of the company as on March 19. The dividend will be paid to the shareholders on or before April 4.