The equity benchmark indices ended higher on March 16 on buying across sectors. At close, the Sensex was up 1,039.80 points, or 1.86%, at 56,816.65, and the Nifty was up 312.30 points, or 1.87%, at 16,975.30.
Hindustan Aeronautics | CMP: Rs 1,463 | The share jumped over 6 percent after the company entered into an MOU on a non-exclusive basis with Safran Helicopter Engines SAS, France. for finding the feasibility of potential cooperation in business opportunities, which does not constitute any obligation on the part of either party to enter into a definitive agreement or make any financial commitments.
Rail Vikas Nigam | CMP: Rs 33.30 | The stock price ended in the green on March 16. The Board of Directors of the company in a meeting on March 16, 2022 declared an interim dividend of Rs 1.58 per equity share of Rs 10 each for the financial year 2021-22. March 25, 2022 has been fixed as the recorded date for determining the eligibility for payment of the dividend. The payment would be completed on or before April 14, 2022, the company said in an exchange filing.
Tata Communications | CMP: Rs 1,177.35 | The scrip jumped over 4 percent after Formula 1 and Tata Communications announced a multi-year strategic collaboration. Tata Communications returns to the sport as the official broadcast connectivity provider of Formula 1 to deliver and enhance a world-class, technologically advanced experience for fans globally.
Torrent Power | CMP: Rs 485.95 | The stock added 2 percent on March 16. Torrent Power Limited has entered into a share purchase agreement (SPA) and shareholders agreement (SHA) with Union Territory of Dadra and Nagar Haveli and Daman and Diu and Dadra and Nagar Haveli and Daman and Diu Power Distribution Corporation Limited for the purchase of 51% equity share capital of the SPV from the holding entity.
Zomato | CMP: Rs 76 | The stock price ended in the red on March 16. The food delivery giant acquired a 16.66 percent stake in Mukunda Foods Private Limited, a food robotics company, for cash consideration of $ 5 million. The board also approved a loan of up to $ 150 million to Grofers India in one or more tranches. The loan to Grofers is in line with its stated intent of investing up to $ 400 million cash in quick commerce in India over the next two years.