On the sectoral front, except oil and gas, all other indices ended in the green, with pharma and realty indices up one percent each and capital goods index added 0.65 percent. BSE midcap and smallcap indices added 0.6 percent each.
Indian benchmark indices ended near the day’s high level with the Nifty comfortably closing above 17,300 led by pharma, realty and capital goods. At close, the Sensex was up 350.16 points or 0.61 percent at 57,943.65, and the Nifty was up 103.30 points or 0.60 percent at 17,325.30.
Hero MotoCorp | CMP: Rs 2,219 | The share price tumbled over 6 percent as the market reacted adversely to the reports which claimed that the Income Tax Department detected bogus expenses to the tune of Rs 1,000 crore made by the company. Sources told CNBC TV18 that the claims related to the false expenses were detected in the I-T raid conducted from March 23 to March 26 at premises linked to Hero Motocorp. While an official statement was awaited, news agency ANI learnt from sources that “incriminating evidence” was found in the form of hard copies and digital data. The company is yet to react to the reports.
Bharti Airtel | CMP: Rs 753.50 | The stock was up over 2 percent after the company along with unit Nettle Infrastructure Investments, had bought 12.71 crore shares of Indus Towers from an affiliate of the UK’s Vodafone Group Plc for Rs 2,388.05 crore.
SBI Life Insurance Company | CMP: Rs 1,103.05 | The scrip gained over 2 percent on a block deal worth Rs 596.5 crore this morning and yesterday’s sale of 0.56 percent stake in the firm by Canada Pension Fund at a price band of Rs 1,039-Rs 1,077 apiece, as per CNBC-TV18.
G R Infraprojects | CMP: Rs 1,503.85 | The share price rose over 3 percent after the company has emerged as the lowest bidder for two projects – four-laning of an existing 2-lane stretch from Govindpur to Rajura in Maharashtra, and the four -laning of an existing 2-lane stretch from Bamni to MH/TG Border in Maharashtra.
Ruchi Soya Industries | CMP: Rs 938 | The stock price surged over 15 percent after investors in Ruchi Soya’s Follow-on Public Offer (FPO) have been allowed to withdraw their bids because of an advertisement that was termed as misleading by the market regulator SEBI. However, the extension of FPO, only for withdrawal of bids, briefly caused confusion among investors.
HDFC Bank | CMP: Rs 1,458 | The share price ended in the green on March 29. The bank said it has inked an agreement to invest Rs 3 crore in the first tranche to acquire a stake in debt management company IDRCL. HDFC Bank has signed a pact on March 28 for investment in India Debt Resolution Company Ltd (IDRCL) by way of subscription to equity securities, the bank said in a regulatory filing.
Ashoka Buildcon | CMP: Rs 86.20 | The share ended in the red on March 29. Ashoka Buildcon submitted its bid to the National Highways Authority of India (NHAI) for the development of six-lane Access Controlled Greenfield highway from KM 162.500 to KM 203.100, and Baswantpur to Singondi Section of NH 150 C on Hybrid Annuity Mode (HAM) under Bharatmala Pariyojana Project. The company emerged as the lowest bidder and the quoted bid for the project is Rs 1,079 crore.
Tata Motors | CMP: Rs 433.70 | The stock ended in the green on March 29. The auto major said high battery cell costs are putting short-term pressure on the company. Battery cell costs are up 20 percent on higher raw material prices, mainly lithium, according to a Reuters report.
PNC Infratech | CMP: Rs 254 | The scrip jumped over 4 percent after the firm was declared as the lowest bidder for an NHAI project — construction of six-lane with Access Controlled Greenfield Highway from km 26.000 to km 97.000, MH/KN Border (Badadal) to Maradgi S Andola section of NH – 150C, for a bid project cost of Rs 1,575 crore.
PVR | CMP: Rs 1,870.05 | The stock price ended in the red on March 29. A total of three stocks were banned from trading in the futures and options segment by the National Stock Exchange on March 29 after those securities crossed 95 percent of the market-wide position limit. PVR was on the list. The firm which announced a merger with its competitor Inox Leisure is the latest addition to the ban list. During the ban, traders are not allowed to take fresh positions in stocks under the F&O ban, but they can start reducing their positions. PVR and INOX Leisure announced a merger deal to create the largest multiplex chain in the country with a network of more than 1,500 screens. The boards of directors of the two companies at their meetings held on March 27 approved an all-stock amalgamation of INOX with PVR.
Sandip Das
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