Trendlyne Marketwatch
Trendlyne Marketwatch
06 Mar 2025, 04:14PM
Market closes higher, Inox India secures orders worth Rs 190 crore in January and February
By Trendlyne Analysis

 

Nifty 50 closed at 22,544.70 (207.4, 0.9%), BSE Sensex closed at 74,340.09 (609.9, 0.8%) while the broader Nifty 500 closed at 20,447.10 (190.6, 0.9%). Market breadth is overwhelmingly positive. Of the 2,465 stocks traded today, 1,902 were on the uptick, and 537 were down.

Indian indices closed higher, with the benchmark Nifty 50 index closing at 22,544.7 points. The Indian volatility index, Nifty VIX, rose 0.4% and closed at 13.7 points. Castrol India surged 10.6% following reports that Saudi Aramco is considering acquiring part or all of BP’s stake in the lubricant business, valued at approximately $10 billion.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher. S&P BSE Energy and Nifty Oil & Gas Indices were among the top index gainers today. According to Trendlyne’s sector dashboard, Forest Materials emerged as the top-performing sector of the day, with a rise of 3.9%.

Asian indices closed mixed. European indices are trading lower, except for Germany’s DAX, which is trading flat. US index futures are trading lower, indicating a negative start to the trading session as investors assess Trump's delay on auto tariffs and await labor data. Brent crude futures are trading higher.

  • IIFL Finance sees a Long buildup in its March 27 futures series, with open interest increasing by 22.3% and a put-call ratio of 0.5.

  • Axis Direct upgrades Navine Fluorine International to a 'Buy' call from 'Hold' with a target price of Rs 4,300 per share. This indicates a potential upside of 4.4%. The brokerage believes the company's CDMO and HPP segments will gain momentum. Navine Fluorine's strong execution track record and long-standing customer relationships will drive sustained growth. It expects the firm's revenue to grow at a CAGR of 26.4% over FY25-27.

  • Britannia Industries' Executive Director (ED) and Chief Executive Officer (CEO), Rajneet Singh Kohli, tenders his resignation, effective March 14.

  • Inox India is rising as it secures orders worth Rs 190 crore in January and February 2025. The orders include transfer lines for a European university, IMO containers for an Australian client, and LNG and industrial gas storage tanks, vaporizers, and cryogenic equipment for clients in Europe, the USA, and India.

  • Sharekhan maintains its 'Buy' call on HDFC Life Insurance with a target price of Rs 870 per share. This indicates a potential upside of 40.8%. The brokerage believes that weak competition, new product launches, strong demand in the non-PAR segment, and focus on tier-2/tier-3 geographies will support growth. It expects the firm's annual premium equivalent (APE) to grow at a CAGR of 17.3% over FY25-27.

  • The Federation of Automobile Dealers Associations (FADA) reports a decline in YoY growth across all vehicle segments in India for February 2025. Two-wheelers fell by 6%, three-wheelers by 2%, passenger vehicles by 10%, and commercial vehicles by 8.6%. Dealers cite challenges with manufacturers pushing excess inventory, worsening weak consumer sentiment.

  • Castrol India surges as Saudi Aramco reportedly considers acquiring part or all of BP’s 51% stake in the company.

  • MSTC rises sharply as the Telangana government issues an order directing all its offices to use MSTC’s eAuction and e-Procurement services for two years.

  • Zaggle Prepaid Ocean Services rises as it signs a one-year deal with Tech Mahindra to provide its spend management dashboard, Zatix. Tech Mahindra will use Zatix to track Corporate and Purchase Card spends issued in partnership with SBI Cards.

  • Dayanand Mittal, an oil and gas research analyst at JM Financial Institutional Securities, believes that US government policy, especially under President Trump, is a key factor influencing oil prices. He favours upstream oil companies like ONGC and Oil India over oil marketing companies (OMCs), mainly due to the anticipated stability of crude oil prices around $70 per barrel.

  • AXISCADES Technologies surges as its subsidiary, Mistral Solutions, partners with Altera to develop high-performance computing solutions for defence applications. The collaboration uses Altera Agilex 9 Direct RF FPGA technology for innovations in the defence and aerospace industries.

  • Motilal Oswal retains its 'Buy' call on Bharti Airtel with a higher target price of Rs 1,985 per share. This indicates a potential upside of 23%. The brokerage anticipates revenue growth driven by more frequent tariff hikes in India's wireless business, acceleration in home broadband services, and strong double-digit growth in Africa. It expects the firm's revenue to grow at a CAGR of 15% over FY25-27.

  • Ola Electric receives Rs 73.7 crore under the Centre's Production Linked Incentive (PLI) Scheme for automotive and auto components (PLI-Auto Scheme). The company becomes India's first two-wheeler electric vehicle (EV) manufacturer to receive the incentive.

  • Wipro launches an AI-first managed services platform, TelcoAI360, for telecom operators. It aims to cut costs and improve customer experience by streamlining processes, automating workflows, and optimizing resource management.

  • RateGain Travel Technologies is rising as it launches an AI-powered digest for airline customers. The tool provides airlines with a daily route performance report, enabling them to make faster, data-driven decisions to optimize pricing and maximize revenue.

  • Kirloskar Industries' Managing Director, Mahesh Chhabria, tenders his resignation, effective March 31.

  • Banks and NBFC stocks rise following RBI's plans to inject additional liquidity of nearly Rs 1.9 lakh crore through OMO (Open Market Operations) purchases and USD/INR Buy/Sell swap auctions. The central bank will conduct two OMO purchases of Rs 50,000 crore each on March 12 and March 18 and a USD/INR Buy/Sell Swap auction of $10 billion (Rs 82,000 crore) for a 36-month tenor on March 24.

  • Bharat Forge is rising as its wholly-owned subsidiary, Kalyani Powertrain, enters a technology licensing agreement with Taiwan's Compal Electronics to manufacture X86 platform servers in India.

  • R Systems International is rising sharply as it launches its internet of things (IoT) smart C2C connector, built on Amazon Web Services (AWS). The smart C2C connector will help service providers manage and integrate various smart home devices.

  • Route Mobile surges as its parent company, Proximus Global, partners with Nokia to offer network APIs (application programming interfaces) for enterprise application development. They plan to expand APIs to help developers create applications for enterprises, including financial services and healthcare.

  • The United States is reportedly urging India to remove tariffs on car imports as part of a proposed trade deal, paving the way for Tesla. However, India is reluctant to eliminate tariffs immediately, seeking input from local industries. Car import taxes in India can reach as high as 110%, a rate Tesla CEO Elon Musk has called one of the highest in the world.

  • Tata Consultancy Services enters a partnership with Vantage Towers to set up a digital service platform for property owners leasing telecom tower sites.

  • IOL Chemicals & Pharmaceuticals rises sharply as it receives a certificate of suitability from the European Directorate for the Quality of Medicines & Health Care (EDQM) for its active pharmaceutical ingredient (API), Quetiapine Fumarate. This antipsychotic drug is used to treat various mental health disorders.

  • Galaxy Surfactants is rising as it partners with a global customer to provide engineering, procurement and construction services for a performance surfactants and specialty ingredients plant at an overseas location. The company is also in advanced discussions to expand this collaboration after the plant's commissioning.

  • Zydus Lifesciences is rising sharply as it receives final approval from the US FDA to manufacture Dasatinib tablets. These tablets are used to treat adults with newly diagnosed chromosome-positive (Ph+) chronic myeloid leukaemia (CML) in the chronic phase. It had a market value of $1.8 billion in the year ending January 2025, according to IQVIA.

  • Markets opened high. Nifty 50 was trading at 22,432.75 (95.5, 0.4%), BSE Sensex was trading at 74,308.30 (578.1, 0.8%) while the broader Nifty 500 was trading at 20,405.75 (149.3, 0.7%).

  • Market breadth is overwhelmingly positive. Of the 2,022 stocks traded today, 1,850 were in the positive territory and 150 were negative.

Riding High:

Largecap and midcap gainers today include JSW Infrastructure Ltd. (268.55, 6.7%), Jindal Stainless Ltd. (651.90, 6.3%) and Asian Paints Ltd. (2,267.70, 4.8%).

Downers:

Largecap and midcap losers today include Bharti Hexacom Ltd. (1,342.35, -2.8%), Coforge Ltd. (7,625.15, -2.4%) and Tech Mahindra Ltd. (1,503.45, -2.3%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Chennai Petroleum Corporation Ltd. (527.05, 11.8%), Castrol India Ltd. (245.88, 10.6%) and Prism Johnson Ltd. (127.78, 8.3%).

Route Mobile Ltd. (1,034.40, 3.3%) was trading at 29.7 times of weekly average. Sapphire Foods India Ltd. (326.30, 5.2%) and Mangalore Refinery And Petrochemicals Ltd. (113.10, 6.4%) were trading with volumes 9.4 and 7.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

1 stock made 52 week highs, while 1 stock tanked below their 52 week lows.

Stock touching their year highs included - Chambal Fertilisers & Chemicals Ltd. (576.90, 1.0%).

Stock making new 52 weeks lows included - Signatureglobal (India) Ltd. (1,015.05, -2.1%).

26 stocks climbed above their 200 day SMA including Sapphire Foods India Ltd. (326.30, 5.2%) and Godfrey Phillips India Ltd. (5,418.60, 5%). 3 stocks slipped below their 200 SMA including Medplus Health Services Ltd. (704.30, -2.6%) and Anand Rathi Wealth Ltd. (1,854, -2.2%).

 
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