Third straight day of gains on buying across the sectors. The Sensex up 817.06 points at 55,464.39 and the Nifty gains 249.50 points at 16,594.90
The Indian equity benchmark ended higher for the third consecutive session on March 10, helped by buying across sectors. At close, the Sensex was up 817.06 points or 1.50% at 55,464.39, and the Nifty was up 249.50 points or 1.53% at 16,594.90.
Larsen and Toubro | CMP: Rs 1,725 | The share gained 2 percent after the company secured orders worth between “Rs 1,000 and 2,500 crore”. The Railways SBU of L&T Construction’s Transportation Infrastructure IC has secured an Engineering, Procurement and Construction (EPC) order from IRCON International. It involves 25 kV Overhead Electrification, Signaling & Telecommunication, and associated works for 549 RKM/678 TKM railway lines pertaining to the Northeast Frontier Railway. Also, the Factories Business of Buildings and Factories IC has secured a prestigious order from a global FMCG manufacturer for Design and Construction of a food processing facility in Gujarat, India.
Kalpataru Power | CMP: Rs 387 | The scrip gained over 2 percent after the company received a letter of intent for a Rs 3,276-crore job in international markets. Kalpataru Power Transmission has received a Letter of Intent (LoI) for power transmission and distribution project in international markets, the company said in its release. The letter is for a prestigious project involving design, engineering, supply and construction of HVDC power transmission line of 700 km. The estimated value of the project stands at Rs 3,276 crore ($ 431 Million).
Exide Industries | CMP: Rs 151.30 | The stock added over 2 percent after the firm entered into a multi-year technical collaboration agreement with SVOLT Energy Technology Co. Ltd (SVOLT). SVOLT will grant Exide an irrevocable right and license to use, exploit and commercialise necessary technology and know-how owned by them for lithium-ion cell manufacturing in India. SVOLT will also provide the support required for setting up of a state-of-the-art greenfield manufacturing plant on a turnkey basis, the company said in its release.
Bharti Airtel | CMP: Rs 338 | The share price ended in the green after the telecom operator entered into an agreement to acquire a 9 percent equity stake in Avaada CleanTN Project Private Limited, a special purpose vehicle. This SPV has been formed for owning and operating a captive power plant. Motilal Oswal has given a buy rating to the stock with a target price of Rs 910 apiece. The research and broking firm sees an upside of 29 percent from the current level.
PNB Housing Finance | CMP: Rs 412.50 | The scrip ended in the red after rising 4 percent the previous day. The housing finance company has approved a fundraise of up to Rs 2,500 crore through a rights issue. The lender said that the issue price, rights entitlement ratio, record date, timing and terms of payment would be determined in due course.
Sandip Das
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