The market ended lower for the second day in a row. The Sensex tanked 740.19 points, or 1.51%, to 48,440.12 and the Nifty ended 224.50 points, or 1.54%, down at 14,324.90.
Benchmark indices ended lower for the second day in a row, with the Nifty closing below 14,350 dragged by the PSU Bank, FMCG, auto and energy stocks. At close, the Sensex was down 740.19 points, or 1.51%, at 48,440.12, and the Nifty was down 224.50 points, or 1.54%, at 14,324.90. Nifty PSU Bank, FMCG, auto, infra, IT and energy indices slipped 2-3 percent. BSE midcap and smallcap indices fell 1.8-2.2 percent.
DHFL | CMP: Rs 16.60 | The stock hit a 5 percent lower circuit on March 25 after the Central Bureau of Investigation (CBI) booked DHFL promoters for creating more than 2.6 lakh fake home loan accounts. A case was registered against Kapil Wadhawan and brother Dheeraj, who are already in jail over fraud and money-laundering charges, for allegedly creating 2.60 lakh fake home loan accounts under the Pradhan Mantri Aawas Yojana. The promoters fraudulently availed benefits under PMAY to the tune of Rs 14,046 crores, the agency said. The CBI found that Rs 11,755.79 crore was diverted to these accounts created in the name of shell companies. There were pending sell orders of 131,367 shares, with no buyers available.
Jubilant FoodWorks | CMP: Rs 2,829 | The share ended in the red on March 25 after the company announced signing a master franchise and development agreement with PLK APAC Pte. “…. has entered into an exclusive master franchise and development agreement with PLK APAC Pte Ltd, a subsidiary of Restaurant Brands International Inc (RBI),” the company said in the release. The agreement will help the company to develop, establish, own and operate and to license franchisees to develop, establish, own and operate Popeyes Restaurants in India, Bangladesh, Nepal and Bhutan.
Escorts | CMP: Rs 1,265.50 | The stock shed over 4 percent despite the company announcing a hike in tractor prices. Escorts Agri Machinery (EAM), a division of Escorts Limited, shall be increasing the prices of its tractors effective 1st April 2021, the company told BSE. There has been a steady rise in commodity prices necessitating a price hike to offset the impact of inflation, it added. The increase in prices would vary across models and variants.
WABCO India | CMP: Rs 5,648 | The scrip fell over 7 percent with one of the promoters planning to sell the entire stake in the auto parts and equipment company. Promoter ZF International UK will offload an 18.10 percent stake (base issue: 9.05 percent + oversubscription Issue: 9.05 percent) through an offer of sale. The sale is being undertaken by the seller for achieving the minimum public shareholding requirement in the company, Wabco India said in an exchange filing.
Bharti Airtel | CMP: Rs 507.20 | The share price was down more than 3 percent after the National Company Law Tribunal sanctioned the composite scheme of arrangement between Bharti Airtel Limited, Bharti Airtel Services Limited, Hughes Communications India Private Limited and HCIL Comtel Private Limited and their respective shareholders and creditors.
Cadila Healthcare | CMP: Rs 422 | The stock ended lower by 2 percent on March 25. Zydus Cadila received tentative approval from the USFDA to market Emtricitabine and Tenofovir Disoproxil Fumarate Tablets 100 mg/150 mg, 133 mg/200 mg and 167 mg/250 mg. Emtricitabine and Tenofovir Disoproxil Fumarate Tablets are used with other HIV medications to help control HIV infection.
Welspun Enterprises | CMP: Rs 119.10 | The stock price ended in the green on March 25 after the company agreed to take over a hybrid annuity mode project for six-laning of the Kozhikode bypass of NH-66 in Kerala from Calicut Expressway Private Limited through the process of harmonious substitution of the National Highways Authority of India (NHAI). The current estimated bid project cost with price index escalation is over Rs 1,900 crore, and the first-year operations and maintenance is Rs 6.30 crore. The project is proposed to be undertaken by a wholly-owned subsidiary of the company.
Dilip Buildcon | CMP: Rs 552.45 | The share was down over 4 percent despite the company being declared the lowest bidder for HAM project in Karnataka worth Rs 1,137 crore, including four-lanlng of Sannur to Bikarnakette section from existing 698.850 kilometers to 744.90 of NH- 169 under Bharathmala Pariyoiana on a hybrid annuity mode in the state of Karnataka.
Time Technoplast | CMP: Rs 59.55 | The scrip ended in the red on March 25. The promoter group of the company substantially reduced its pledge of equity shares of the company. The pledge of shares has reduced from 9.55 percent of paid-up capital to only 4.22 percent. It may be recalled, at some point in time the total pledged shares used to be around 18 percent, the company said in its BSE filing.
DLF | CMP: Rs 278.30 | The stock ended lower by 2 percent on March 25. The realty firm said it raised Rs 500 crore through the issue of non-convertible debentures (NCD) to investors. In a regulatory filing, DLF said that the allotment committee has allocated 5000 senior, secured rated listed redeemable non-convertible debentures with a face value of Rs 10 lakh each. The tenure of the NCDs is three years and the coupon rate 8.25 percent. The NCDs will be listed on the BSE.
Sandip Das
