The benchmark indices ended higher in a volatile session on March 22, led by gains in auto, bank, IT, oil & gas stocks. At close, the Sensex was up 696.81 points, or 1.22%, at 57,989.30, and the Nifty was up 197.90 points, or 1.16%, at 17,315.50.
Tata Motors | CMP: Rs 440.85 | The stock jumped over 3 percent after the auto firm announced an impending price hike of its commercial vehicle range. An increase in price in the range of 2-2.5%, will come into effect from April 1, 2022 across the range, depending on individual model and variant.
Larsen & Toubro | CMP: Rs 1,774.85 | The share price ended in the green on March 22. The stock remained in focus as a meeting of the Larsen & Toubro board has been called to get approval for raising of funds. “Notice is hereby given that a meeting of the board of directors of Larsen & Toubro is scheduled to be held on Thursday, March 24, 2022, to seek approval for raising funds, including through issue of debt securities, as part of the company’s refinancing programme,” the company said in a press release. Foreign research house Jefferies has kept the “buy” rating on the stock but cut the target price to Rs 2,525 from Rs 2,675 a share. It has lowered the FY22-25 EPS estimates by 4-8 percent.
ONGC | CMP: Rs 175.50 | The scrip ended in the green on March 22. Oil and Natural Gas Corporation rose on the back of rising crude oil prices in the international market. Oil surged for a fourth day, heading for the best run in a month, on signs the European Union may be edging closer to a ban on Russian crude imports to punish Moscow for its invasion of Ukraine, reported Reuters.
Wipro | CMP: Rs 610.50 | The share ended in the green, adding over a percent on March 22 as the company’s board is scheduled to meet on March 25. The board will consider the declaration of an interim dividend for the financial year ending 2021-22.
Equitas Small Finance Bank | CMP: Rs 54.05 | The scrip added over 2 percent on March 22. Equitas SFB board approved a scheme of amalgamation between Equitas Holdings and Equitas Small Finance Bank.