The Indian benchmark indices ended marginally lower in a volatile session on March 24. At close, the Sensex was down 89.14 points, or 0.15%, at 57,595.68, and the Nifty was down 22.90 points, or 0.13%, at 17,222.80.
Zee Entertainment Enterprises | CMP: Rs 299.30 | The stock jumped over 16 percent after Invesco Developing Markets Fund, the largest shareholder of the company, said it won’t pursue its demand for an extraordinary general meeting to add six independent directors as Zee’s merger with Sony would achieve the fund’s aim of strengthening board oversight.
Lupin | CMP: Rs 772.20 | The share price added over 3 percent after the company announced that it had received the United States Food and Drug Administration (FDA) approval for its Abbreviated New Drug Application (ANDA) to market Sildenafil for Oral Suspension, 10 mg/mL, a generic equivalent of Revatio for Oral Suspension, 10 mg/mL, of Viatris Specialty LLC. The product will be manufactured at Lupin’s facility in Goa, India, the company said in an exchange filing.
Maruti Suzuki | CMP: Rs 7,533 | The scrip ended in the red on March 24. The Board of Maruti Suzuki in its meeting approved the appointment of Kenichi Ayukawa as a whole-time director designated as executive vice-chairman for a period of six months with effect from April 1, 2022 till September 30, 2022 and appointment and re-designation Hisashi Takeuchi as managing director and chief executive officer for a period of three years with effect from April 1, 2022 till March 31, 2025.
Indraprastha Gas | CMP: Rs 376.50 | The stock ended in the green on March 24. Indraprastha Gas Ltd hiked the price of domestic piped natural gas in Delhi by Re 1 per standard cubic metre (SCM) to Rs 36.61 a unit. In Noida, Greater Noida, and Ghaziabad domestic PNG will now cost Rs 35.86 per SCM. In Gurugram, it will be Rs 34.42 per SCM, as per the new rates. The increase in PNG rates comes on the heels of oil marketing companies hiking petrol and diesel prices after a 137 day freeze.
NELCO | CMP: Rs 677.55 | The share jumped 5 percent after the company announced a cooperation agreement with Omnispace to enable and distribute 5G non-terrestrial network direct-to-device satellite services. The pact will expand 5G throughout India and South Asia and focus on 5G direct-to-device communications using Omnispace’s global NGSO satellite network across various market segments, Nelco said in a press release.