Trendlyne Marketwatch
Trendlyne Marketwatch
01 Mar 2024
Market closes at an all-time high, TVS Motor’s wholesales rise 33% YoY in February
By Trendlyne Analysis

Nifty 50 closed at 22,338.75 (356.0, 1.6%) , BSE Sensex closed at 73745.35 (1,245.1, 1.7%) while the broader Nifty 500 closed at 20,349.80 (259.8, 1.3%). Of the 2,054 stocks traded today, 1,313 showed gains, and 712 showed losses.

Indian indices extended their gains from the open and closed in the green, with the Nifty 50 and Sensex closing at their all-time highs. The Indian volatility index, Nifty VIX, fell 2.1% and closed at 15.2 points. Dr. Reddy's Laboratories closed in the red after its US subsidiary was sued by Walgreen, Kroger Specialty Pharmacy, and CVS Pharmacy. The lawsuit accused them of limiting competition and monopolizing the Revlimid market through patent settlements.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green, following the benchmark index. Nifty Energy and Nifty Bank closed higher than their Thursday close. According to Trendlyne’s sector dashboard, Metals & Mining emerged as the top-performing sector of the day, with a rise of 2.7%.

Major Asian indices closed in the green amid positive global cues. European indices traded in the higher, tracking the Asian indices. US index futures traded in the green, indicating a positive start to the trading session. Brent crude oil futures traded higher after closing in the red on a volatile day of trade on Thursday.

  • Steel Authority of India (SAIL) sees a long buildup in its March 28 future series as its open interest rises 52.9% with a put-call ratio of 0.5.

  • TVS Motor’s wholesales rise 33% YoY to 3.7 lakh units in February. Two-wheeler wholesales increase 34% YoY, while three-wheeler wholesales go up by 16% YoY. Meanwhile, exports jump 85% YoY.

  • Dr. Reddy's Laboratories falls as it and its US subsidiary are sued by Walgreen, Kroger Specialty Pharmacy, and CVS Pharmacy. The lawsuit accuses them of limiting competition and monopolizing the Revlimid market through patent settlements.

  • Defence, construction & engineering, and plastic products industries rise more than 3.5% in the past week.

  • Sandeep Garg, Sr. MD & CEO of Welspun Enterprises, says that water-related projects make up 70% of the firm's current order book. He also highlights that the company has emerged as the lowest bidder for building a water treatment plant and has received a LoA worth Rs 4,123.8 crore from Brihanmumbai Municipal Corporation (BMC).

  • Eicher Motors' Royal Enfield's February 2024 wholesales rise 6.1% YoY to 75,935 units. The company's exports increase by 12.7% YoY.

  • Mukka Proteins' Rs 224 crore IPO gets bids for 5.2X the available 5.6 crore shares on offer on the second day of bidding. The retail investor quota gets bids for 8.1X the available 2.8 crore shares on offer.

  • Suven Pharmaceuticals surges as it announces merger with Cohance Lifescience to strengthen Suven’s CDMO industry position with niche capabilities and scale benefits.

  • The Ministry of Defence inks five major capital acquisition contracts worth Rs 39,125.4 crore today. These include two deals with L&T valued at Rs 13,368.9 crore for high-power radars and Close-In weapon systems for the Indian Air Force, and a Rs 5,249.7 crore agreement with HAL for MiG-29 aero-engines.

  • Waaree Renewable Technologies reaches an all-time high of Rs 5,835.2 as it wins an order worth Rs 1,401 crore from North Eastern Electric Power Corp. The order includes construction work and land development for a 300 MW AC Ground Mounted Solar PV project linked to ISTS (inter-state transmission system).

  • HG Infra Engineering rises as it wins an order worth Rs 709.1 crore from the East Central Railway to construct a double-line track in Bihar.

  • Nifty 50 hits an all-time high of 22,304 today. BSE Sensex also reaches a record high of 73,574.

  • The Centre raises the windfall tax on locally produced crude oil to Rs 4,600 per tonne from Rs 3,300 earlier. It slashes the export tax on diesel to 'Nil' from Rs 1.5 per litre. The tax on aviation turbine fuel (ATF) and petrol remains ‘Nil’.

  • One97 Communications (Paytm) rises as its board approves the discontinuation of various inter-company agreements with Paytm Payments Bank.

  • NCC is rising as it bags two orders worth Rs 1,476 crore from state government agencies. The larger order, valued at Rs 1,303,7 crore, is related to its transportation division, while the remaining Rs 172.3 is for its building division.

  • Larsen & Toubro rises as it commissions its first indigenously built hydrogen electrolyser at Hazira. This electrolyser has a rated power capacity of 1 MW (expandable to 2 MW) and can produce 200 Nm3/Hr of hydrogen.

  • India’s manufacturing PMI rises to a five-month high of 56.9 in February, driven by an increase in new orders and production. The PMI reading remains above 50 for the 32nd consecutive month.

  • Landmark Cars surges as it receives a Letter of Intent from MG Motor India to open a dealership in Ujjain, Madhya Pradesh. The dealership will be established by the company’s arm, Aeromark Cars, and will include sales and after-sales services of MG cars.

  • D B Realty appoints Rahul Pandit as President & Executive Director, effective March 1, 2024. Following the effective demerger scheme, Rahul Pandit will be appointed as the Managing Director & Chief Executive Officer of the newly demerged hotel entity.

  • Mahindra & Mahindra's wholesales rise 24% YoY to 72,923 units in February 2024. Passenger vehicle wholesales increase 40% YoY, while three-wheeler wholesales are up 15% YoY.

  • India's GDP growth reaches a six-quarter high of 8.4% in Q3FY24, surpassing market predictions. However, economists are concerned about the drop in GVA growth, which went from 7.7% in Q2 to 6.5% through December, mainly due to a sharp rise in net taxes.

  • Albula Investment Fund sells a 4.4% stake (30 lakh shares) in Lumax Auto Technologies for approximately Rs 135.2 crore in a bulk deal on Thursday. Meanwhile, Nippon India Mutual Fund picks up a 3.7% in the company.

  • Bajaj Auto's February 2024 wholesales rise 23.7% YoY to 3,46,662 units. Two-wheeler wholesales increase 25.2% YoY, while commercial vehicle wholesales go up 15.8% YoY.

  • BNP Paribas Arbitrage sells a 1.1% stake in NMDC for approx Rs 750.1 crore in a bulk deal on Thursday.

  • CG Power and Industrial Solutions rises sharply as it partners with Renesas Electronics Corp, Japan, and Stars Microelectronics, Thailand, to set up a semiconductor unit in Gujarat, with an investment of Rs 7,600 crore.

Riding High:

Largecap and midcap gainers today include Steel Authority of India (SAIL) Ltd. (133.00, 9.74%), Oil India Ltd. (589.15, 7.79%) and Tata Steel Ltd. (149.95, 6.46%).

Downers:

Largecap and midcap losers today include Max Healthcare Institute Ltd. (736.75, -7.13%), PB Fintech Ltd. (1,119.75, -4.08%) and ICICI Lombard General Insurance Company Ltd. (1,643.85, -3.97%).

Movers and Shakers

15 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Steel Authority of India (SAIL) Ltd. (133.00, 9.74%), Suven Pharmaceuticals Ltd. (686.10, 9.01%) and Jamna Auto Industries Ltd. (130.20, 8.59%).

Top high volume losers on BSE were Max Healthcare Institute Ltd. (736.75, -7.13%), Jyothy Labs Ltd. (452.45, -2.08%) and Krishna Institute of Medical Sciences Ltd. (2,226.00, -1.38%).

Elgi Equipments Ltd. (680.60, 4.38%) was trading at 11.8 times of weekly average. Chemplast Sanmar Ltd. (491.95, 4.49%) and CG Power and Industrial Solutions Ltd. (465.00, 4.91%) were trading with volumes 6.3 and 5.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

31 stocks overperformed with 52 week highs, while 2 stocks hit their 52 week lows.

Stocks touching their year highs included - Adani Ports & Special Economic Zone Ltd. (1,322.10, 0.12%), Ambuja Cements Ltd. (617.60, 1.93%) and Indus Towers Ltd. (263.10, 4.07%).

Stocks making new 52 weeks lows included - KRBL Ltd. (313.50, -2.41%) and Star Health and Allied Insurance Company Ltd. (548.95, -2.24%).

19 stocks climbed above their 200 day SMA including Home First Finance Company India Ltd. (916.00, 5.51%) and Linde India Ltd. (5,549.00, 3.07%). 3 stocks slipped below their 200 SMA including Clean Science & Technology Ltd. (1,400.50, -0.91%) and LTIMindtree Ltd. (5,273.55, -0.52%).

 
More from Trendlyne Marketwatch
Recommended
Five stocks to buy from analysts this week - June 17, 2025
The Baseline | 17 Jun 2025, 05:50PM
Market closes lower, CG Power bags a Rs 641 cr order from Power Grid for 765/400 kV transformers
Trendlyne Marketwatch | 17 Jun 2025, 03:54PM
Markets close higher, Rakesh Jhunjhunwala buys a 2.2% stake in Indiabulls Housing Finance
Trendlyne Marketwatch | 22 Jul 2021