Among sectors, Nifty IT, metal, pharma and FMCG indices added 1 percent each, while Nifty Bank and PSU bank index shed a percent each. BSE midcap and smallcap indices rose 0.7-1 percent.
The benchmark indices ended flat with negative bias on March 22 after last-hour buying erased most of the intraday losses supported by IT, metal, FMCG and pharma names. At close, the Sensex was down 86.95 points, or 0.17 percent, at 49,771.29, and the Nifty was down 7.60 points, or 0.05 percent, at 14, 736.40. Among sectors, Nifty IT, metal, pharma and FMCG indices added a percent each, while the Nifty Bank and the PSU bank index shed a percent each. BSE midcap and smallcap indices rose 0.7-1 percent. Experts say the index has to decisively surpass 14,788 on the upside to break the consolidation range.
RailTel Corporation | CMP: Rs 139.80 | The stock jumped over 7 percent on bagging a work order worth Rs 153.15 crore from Central Coalfields Limited. “…. has received the work order amounting to Rs 153.15 crore (Including GST) from M/s Central Coalfields Limited, for the establishment of MPLS-VPN Network of higher Bandwidth on rental basis for O5 years,” the company said in its release. Earlier in March, the company started monetising its WiFi facilities by launching high-speed paid WiFi at more than 4,000 railway stations. The scheme is expected to bring additional revenue of Rs 15 crore per annum to the company. The share touched its 52-week high of Rs 189.45 and 52-week low of Rs 94.00 on March 3, 2021 and February 24, 2021, respectively. It is trading 26.26 percent below its 52-week high and 48.62 percent above its 52-week low.
Bharat Dynamics | CMP: Rs 356.40 | The stock price added over 3 percent after the state-owned defence company signed a Rs 1,188.12-crore contract for the production and supply of Milan-2T anti-tank guided missiles. “We wish to inform that BDL has signed a contract for production and supply of Milan-2T anti-tank guided missiles today. The contract value is Rs 1188.12 crore including GST. The contract was signed by Dipti Mohil Chawla, Joint Secretary (AM & LS) on behalf of the ministry of defence and Commodore and TN Kaul (Retd), executive director (Marketing), BDL,” the company said in an exchange filing.
Adani Green | CMP: Rs 1,252.20 | The share price gained 5 percent after the company was awarded 300MW wind power project. The company’s subsidiary Adani Renewable Energy Holding Fifteen (AREHFL) received the letter of award to set up a 300-MW Wind Power Project. The fixed tariff for this project capacity is Rs 2.77/kWh for a period of 25 years. Adani Renewable Energy Holding Fifteen Limited, a subsidiary of Adani Green Energy Limited (AGEL), had participated in the tender issued by Solar Energy Corporation of India for setting up 1,200 MW ISTS-connected wind power project (Tranche-X).
Majesco | CMP: Rs 66.55 | The scrip added 5 percent after Aurum Platz IT Private Limited made an open offer for acquiring up to 74,43,720 fully paid-up equity shares, representing a 26 percent stake, of Majesco from the public shareholders. The offer price is Rs 77 a share. Assuming full acceptance of the open offer, the total consideration payable by Aurum Platz will be Rs 57.31 crore, the company said in the press release. As per the December shareholding pattern, public shareholding in Majesco stood at 85.22 percent.
Man Industries | CMP: Rs 81.45 | The share price added 3 percent after the steel-pipe manufacturer bagged orders worth Rs 500 crore. “We are pleased to inform that the company has received new orders in both domestic and export markets in oil & gas as well as water segments worth approximately Rs 500 crore,” the company said in an exchange filing. According to Moneycontrol SWOT Analysis powered by Trendlyne, the company is able to generate net cash—net cash flow has been improving for the last two years. It has a decreasing promoter pledge, with strong cash- generating ability from its core business.
Tata Motors | CMP: Rs 302.80 | The stock shed 2 percent on the back of profit booking. Tata Motors said its shareholders approved hiving off its passenger vehicles business into a separate entity. On March 5, the shareholders of the company voted to consider and approve the transfer of the passenger vehicles business unit to TML Business Analytics Services Ltd as a going concern on a slump sale basis for a lump sum consideration. Goldman Sachs retained its sell call on the stock. The global research firm has maintained its sell call on the stock but has raised the target to Rs 241 from Rs 175 per share. The research firm believes that its 70 percent share price rise this year has overshot fundamentals, according to a CNBC-TV18 report.
JSW Energy | CMP: Rs 86.10 | The share ended in the green on March 22 after its subsidiary received letters of award for a total wind capacity of 450 MW. JSW Future Energy, earlier JSW Solar Limited), a wholly-owned subsidiary of JSW Energy, has received letters of award for a total wind capacity of 450 MW from Solar Energy Corporation of India Limited (SECI). It has received the order against a tariff-based competitive bid invited by SECI for setting up of 1200 MW ISTS-connected wind power projects (Tranche – X). Earlier this month, the company signed a business transfer agreement with JSW Cement for the sale of 18 MW thermal power plant at Salboni to JSW Cement on a going concern basis for a consideration of Rs 95.67 crore.
Colgate Palmolive | CMP: Rs 1,580 | The stock ended in the green after the Board of Directors at a meeting on March 22 declared a second interim dividend of Rs 20 per equity share of Re 1 for the financial year 2020-21. The record date for the said interim dividend is March 31, 2021. The said interim dividend will be paid on and from April 16, 2021 to those shareholders whose names appear in the Register of Members of the Company as of March 31, 2021.
Bharti Airtel | CMP: Rs 527.40 | The share price ended in the red on March 22. A special committee of directors for fund-raising of Bharti Airtel at its meeting on March 22, 2021, approved the allotment of 36,469,913 equity shares of the face value of Rs 5 each fully paid up, on a preferential basis to Lion Meadow Investment Ltd., an affiliate of Warburg Pincus LLC at an issue price of Rs 600 per equity share. The company entered into an agreement on March 19 for acquiring 17,43,560 shares (representing 7.48 percent of paid-up equity) in Sandhya Hydro Power Project Balargha Private Limited, a special purpose vehicle, the telecom operator said in its BSE filing.
BHEL | CMP: Rs 52.25 | The stock ended in the green on March 22 after the company said it has bagged its first ever overseas order for a grid- connected solar power project in Mauritius. The project will be set up by BHEL at Tamarind Falls, Henrietta (Phase II), Mauritius on engineering, procurement and construction (EPC) basis, the company said in a statement. “BHEL has achieved yet another milestone in international business by securing its maiden overseas turnkey contract for a grid-connected 8 MWac Solar Photovoltaic (PV) power plant,” it said.
Sandip Das
