Page 4 - Market Trends
Adani Green trades firm in weak market; stock zooms 94% in 13 days
On March 2, 2023, GQG Partners, a leading US based Global Equity investment boutique, purchased 55.6 million equity shares of AGEL for Rs 2,806 crore at price of Rs 504.60 per share.
 "Adani Green trades firm in weak market; stock zooms 94% in 13 days")
Reliance, Wipro, Jubilant FoodWorks, Crompton Greaves hit 52-week lows
Max Financial, Mphasis, Emami, HDFC AMC, Pfizer, Network18, Godrej Agrovet, Laurus Labs and Motilal Oswal Financial were among 34 stocks from the S&P BSE 500 index hit their respective 52-week lows.
 "Reliance, Wipro, Jubilant FoodWorks, Crompton Greaves hit 52-week lows")
Tata Consumer dips 2% after withdrawing plans to acquire Bisleri
The company said no definitive agreement or binding commitment has been signed on this matter.
 "Tata Consumer dips 2% after withdrawing plans to acquire Bisleri")
Sunflag Iron up 15% in two days on acquiring 11.89% stake in Lloyds Metals
LMEL on March 16, converted and allotted the 0% 60 million OFCD's in to 60 million equity shares, representing 11.89% in the total voting equity share capital of LMEL to Sunflag Iron.
 "Sunflag Iron up 15% in two days on acquiring 11.89% stake in Lloyds Metals")
Cochin Shipyard gains 7% in weak market on winning Rs 550 cr overseas order
The company has received an order of Rs 550 crore from Norway-based global logistics solution provider Samskip Group.
 "Cochin Shipyard gains 7% in weak market on winning Rs 550 cr overseas order")
Nifty Realty index gains 3%; DLF, Prestige Estates, Lodha surge up to 5%
In past 2 days, DLF surged 9 per cent after the company said it has sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within 3 days.
 "Nifty Realty index gains 3%; DLF, Prestige Estates, Lodha surge up to 5%")
BPCL, HPCL, IOC: Brent crude fall may trigger short-term rally in OMCs
BPCL, HPCL and IOC may rise up to 11 per cent in coming sessions, and if they manage to sustain their upward rally, medium-term bias may strongly shift in bull's favour.
 "BPCL, HPCL, IOC: Brent crude fall may trigger short-term rally in OMCs")
Eris down 4% in 2 days post acquisition of 9 derma brands from Dr Reddy's
Eris Life said that the transaction would help augment and expand cosmetic dermatology business of the company through their product offerings
 "Eris down 4% in 2 days post acquisition of 9 derma brands from Dr Reddy's")
Sterling Tools hits 5-year high, surges 10% on strong business outlook
EV penetration in 2W and 3W is expected to increase at a fast rate over the next few years which augurs well for the company's growth.
 "Sterling Tools hits 5-year high, surges 10% on strong business outlook")
TCS down 1%, hits 4-month low day after CEO & MD Rajesh Gopinathan resigns
The board has nominated K Krithivasan as CEO designate with effect from March 16, 2023.
 "TCS down 1%, hits 4-month low day after CEO & MD Rajesh Gopinathan resigns")
FMCG, select banks help Sensex, Nifty snap 5-day losing streak; Metals dip
CLOSING BELL: Nestle, Titan, Hindustan Unilever and Asian Paints were the major gainers among the Sensex-30 pack; while Tata Steel, IndusInd Bank and Bharti Airtel were the top losers.
 "FMCG, select banks help Sensex, Nifty snap 5-day losing streak; Metals dip")
Wipro hits 52-week low amid revenue growth worries; down 38% in one year
The growth could be a challenge in Q1FY24, too, not just because of the cautious customer behavior but also due to the added issue of productivity concessions kicking in, says Nirmal Bang in a note.
 "Wipro hits 52-week low amid revenue growth worries; down 38% in one year")
OMCs in focus as crude oil hits 1-year low; BPCL, HPCL surge up to 5%
With this decline in crude prices analysts expect marketing margins of HPCL, BPCL and IOCL to improve further.
 "OMCs in focus as crude oil hits 1-year low; BPCL, HPCL surge up to 5%")
Reliance market-cap falls below Rs 15 trillion; stock down 9% in six days
At 09:38 AM; Reliance Industries' market-cap stood at Rs 14.94 trillion on the BSE, the exchange data shows.
 "Reliance market-cap falls below Rs 15 trillion; stock down 9% in six days")
Samvardhana Motherson tanks 9% after 5% equity change hands via block deals
Till 09:18 AM; around 305.61 million equity shares representing 4.5 per cent of total equity of Samvardhana Motherson had changed hands on the NSE.
 "Samvardhana Motherson tanks 9% after 5% equity change hands via block deals")
Bank Nifty, Private Bank indices remain bearish on charts: Ravi Nathani
If the Bank Nifty breaks support at 38,780, the index could slide all-the-way to 37,875 level.
 "Bank Nifty, Private Bank indices remain bearish on charts: Ravi Nathani")
Sensex falls for 5th straight day, ends 344 pts down; Nifty breaks 17,000
CLOSING BELL: The Nifty 50 ended below the 17,000-mark for the first time since October 11, 2022. The NSE benchmark has now shed 630 points in the last five trading sessions.
 "Sensex falls for 5th straight day, ends 344 pts down; Nifty breaks 17,000")
Ramkrishna Forgings surges 9% on emerging lowest bidder for Railways order
The total quantity of forged wheels to be supplied will be around 1.54 million wheels over a period of 20 years.
 "Ramkrishna Forgings surges 9% on emerging lowest bidder for Railways order")
Infosys hits five-month low; stock down 10% in one month
In past two days, the stock was down 4% after the company on Saturday informed to the stock exchanges that Mohit Joshi, President of the company resigned effective from March 11, 2023.
 "Infosys hits five-month low; stock down 10% in one month")
Sona Comstar up 8% as institutional investors buy Blackstone's 20.5% stake
Marquee investors like the Government of Singapore, Fidelity, FMR, ICICI Prudential Life Insurance and HDFC MF bought shares from Blackstone in the bulk deal.
 "Sona Comstar up 8% as institutional investors buy Blackstone's 20.5% stake")
