Indian benchmark indices fell for the second session in a row on March 15 but recovered some of the intraday losses with Nifty finishing above the 14,900-mark. At close, the Sensex was down 397.00 points, or 0.78 percent at 50,395.08, and the Nifty was down 101.50 points, or 0.68 percent, at 14,929.50. Among sectors, metal, IT and PSU bank indices ended in the green, while selling was witnessed in the auto, infra and pharma sectors. BSE midcap and smallcap indices ended 0.5 percent lower. On the BSE, except IT, metal and power, all other sectoral indices ended in the red. The Nifty formed a bearish hammer sort of candle on the daily chart with long lower shadow, indicating that declines were being bought in the market. It continued its lower-lows formation of the last two sessions and got stuck in the range. Here are 10 stocks that moved the most:
JSW Steel | CMP: Rs 428.95 | The share price added over 2 percent after India Ratings and Research reaffirmed JSW Steel Limited’s rating at AA, with the outlook revised to ‘stable’ from ‘negative’. The company’s long-term issuer rating has been reaffirmed at IND AA, with the outlook revised to ‘stable’ from ‘negative’. The rating on non-convertible debentures (NCDs) has also been reaffirmed at IND AA with the outlook revised to ‘stable’ from ‘negative’.
Kotak Mahindra Bank | CMP: Rs 1,917 | The stock ended in the red on March 15. The board of directors approved a dividend on 8.10 percent non-convertible perpetual non-cumulative preference shares for FY21. The company’s board at it meeting held on March 12, “approved the payment of dividend on 1,00,00,00,000 Nos. 8.10% Non-Convertible Perpetual Non-Cumulative Preference Shares of the face value of Rs. 5 each for the period commencing from April 1, 2020 till March 31, 2021, as per their terms of issue”, the company said in a release to exchanges. The record date for the payment of this dividend has been fixed as March 19, 2021.
Titan Company | CMP: Rs 1,492.05 | The share ended in the green on March 15. The company’s jewellery revenues swung to growth in the December quarter. Jewellery revenues increased by 15.5 percent YoY excluding revenue from bullion sales. This came after revenue declined in the previous three quarters. The company has completely from the joint venture (JV) with Montblanc India Retail Private Limited (MB India). MB India ceased to be an associate or a JV company of Titan from March 12, 2021.
JSPL | CMP: Rs 325 | The stock added over 2 percent after the steel producer reported strong production and sales for February 2021. In February 2021, the company’s steel production increased by 18 percent (YoY) to 6.53 lakh tonnes as compared to 5.54 lakh tonnes in February 2020, the company said in a release to exchanges. It also reported a 14 percent (YoY) growth in shipments to 5.45 lakh tonnes in February 2021 compared to 4.80 lakh tonnes in the year-ago period. Exports accounted for 26 percent of the total sales volumes.
Tech Mahindra | CMP: Rs 1,027 | The share price was up over 2 percent after the IT major said it plans to acquire a 70 percent stake in an Irish company. “We wish to inform that the investment committee of the Board of Directors of the company has approved the proposal to acquire 70 percent equity shares in Perigord Asset Holdings directly and indirectly through its wholly-owned subsidiary viz. Mahindra Engineering Services (Europe) Ltd,” the company said in an exchange filing.
Ahluwalia Contracts | CMP: Rs 305.15 | The stock ended in the green after the company secured an order worth around Rs 128 crore for the construction of the state guest house at Bodh Gaya on an engineering-procurement basis (EPC) from the building construction department, Patna, Bihar. The company’s total order inflow during the fiscal 2021 stands at Rs 2,214.44 crore, the company said in a regulatory filing.
Transformers and Rectifiers | CMP: Rs 18.55 | The scrip gained 10 percent after the company said it had bagged a Rs 108-crore order from Power Grid Corporation of India Limited (PGCIL). The orders fall under the normal course of business. The company neither has any interest in these entities that awarded the orders nor fall within the related party transactions, the company said in a release.
GAIL India | CMP: Rs 143.10 | The stock was down 2 percent on March 15. The board of directors of the company at its 423rd meeting held on March 15, 2021 approved payment of the second interim dividend for the FY 2020-21 at 25 percent (Rs 5 per equity share) on the post buy-back paid-up equity share capital of the company, as per the release. The funds for the buyback will be met out of internally-generated cash resources of the company, it added.
Godawari Power | CMP: Rs 640.00 | The share price jumped 14 percent after the Chhattisgarh Environment Conservation Board, Raipur accorded its approval for “Consent to Operate” enhanced capacity of Iron Ore Pellet Plant from 21,00,000 to 24,00,000 Tons Per Annum” with immediate effect. “We would like to inform you that Chhattisgarh Environment Conservation Board, Raipur has accorded its approval for ‘Consent to Operate’ enhanced capacity of Iron Ore Pellet Plant from 21,00,000 to 24,00,000 Tons Per Annum’ with immediate effect,” Godawari Power said in a stock exchange filing. “The Chhattisgarh Environment Conservation Board, Raipur has also accorded its ‘permission to establish’ the proposed expansion and modernisation of existing manufacturing facilities along with the integration of existing environmental clearances at exiting plant location,” the company added.
Century Enka | CMP: Rs 263.10 | The stock gained over 2 percent after its board approved the proposal to dispose of the company’s leasehold land at Mahad MIDC, the company, subject to requisite approval from Maharashtra Industrial Development Corporation and other authorities. The operation of Konkan Synthetic Fibers and Raigad Processors units of the company upon the said leasehold land had already been suspended since.