Trendlyne Marketwatch
Trendlyne Marketwatch
07 Mar 2025
Market closes flat, D-Mart opens four new stores across TN, Karnataka, MP, and Punjab
By Trendlyne Analysis

 

Nifty 50 closed at 22,552.50 (7.8, 0.0%), BSE Sensex closed at 74,332.58 (-7.5, 0.0%) while the broader Nifty 500 closed at 20,443.40 (-3.7, 0.0%). Market breadth is in the green. Of the 2,458 stocks traded today, 1,570 were on the uptrend, and 867 went down.

Indian indices closed flat, with the benchmark Nifty 50 index closing at 22,552.5 points. The Indian volatility index, Nifty VIX, declined 1.8% and closed at 13.5 points. Zee Entertainment Enterprises rose over 5% as its promoters reportedly bought 27 lakh shares from the open market, increasing their stake to 4.3% from 4%.

Nifty Midcap 100 closed in the red, while Nifty Smallcap 100 closed in the green. Nifty Media & Nifty Microcap 250 were among the top index gainers today. According to Trendlyne’s Sector dashboard, Telecommunications Equipment emerged as the best-performing sector of the day, with a rise of 2.5%.

Asian indices closed lower, while European indices are trading lower except Russia’s MOEX & RTSI index. US index futures traded in the green, indicating a positive start to the trading session. US Commerce Secretary Howard Lutnick announced that goods and services compliant with the USMCA trade pact would be exempt from duties for an additional month. Following his remarks, the CAD and Mexican Peso rose to session highs against the US Dollar Index Futures. Brent crude oil futures are trading in the green, bolstered by reduced US tariff concerns and expectations of further economic stimulus from China.

  • Relative strength index (RSI) indicates that stocks like Castrol India, Shriram Finance, Hindalco Industries and Tata Steel are in the overbought zone.

  • Avenue Supermarts (D-Mart) rises as the company opens four new stores in Chennai, Tamil Nadu; Chikkaballapur, Karnataka; Ujjain, Madhya Pradesh; and Amritsar, Punjab.

  • Motilal Oswal retains its 'Buy' call on Adani Ports & SEZ with a target price of Rs 1,400 per share. This indicates a potential upside of 21.4%. The brokerage expects the company to outpace India's overall growth, driven by a balanced port mix along India's western and eastern coastlines, and a diversified cargo mix. It expects the firm's revenue to grow at a CAGR of 15.3% over FY25-27.

  • Zee Entertainment Enterprises rises sharply as its promoters reportedly buy 27 lakh shares from the open market, increasing their stake to 4.3% from 4%.

  • Neelkanth Mishra, Chief Economist at Axis Bank and UIDAI Chief, highlights that an additional Rs 2-3 trillion is required to ease financial conditions despite the RBI's liquidity-boosting measures. He also attributes the liquidity stress in India's banking system as one of the three main factors contributing to the slowdown in GDP growth.

  • KR Choksey maintains its 'Accumulate' call on CreditAccess Grameen with a higher target price of Rs 1,086 per share. This indicates a potential upside of 12.1%. The brokerage remains positive on the company's long-term growth owing to continued loan growth, strong collection efficiency, and improving asset quality across key geographies. It expects the firm's net interest income (NII) to grow at a CAGR of 17.2% over FY25-27.

  • Rites rises sharply as it bags an order worth Rs 28 crore from the South Central Railway to conduct a final location survey at the high-speed elevated rail corridor between Hyderabad-Bengaluru and Hyderabad-Chennai.

  • Hexaware Technologies falls sharply as its revenue grows marginally by 0.6% QoQ to Rs 3,154.4 crore in Q4CY24. Net profit rises 5.4% QoQ to Rs 318.9 crore, helped by lower finance costs and tax expenses. The company appears in a screener of stocks near their 52-week low.

  • The Supreme Court of India denies a stay on the Dharavi redevelopment project awarded to the Adani Group despite a challenge from Dubai’s Seclink Technologies Corp. The court asks Seclink to confirm its bid was higher but underscores the need to fulfill all agreed-upon obligations. The project aims to revamp 296 acres of Dharavi, a densely populated region.

  • TCPL Packaging surges to its all-time high of Rs 4,776.9 as it inaugurates a new Greenfield facility near Chennai, improving its presence in South India. The facility increases its capacity to manufacture paperboard cartons.

  • Inox Wind is surging as it bags an order to supply 3 MW class turbines for a 153 MW wind power project in Tamil Nadu. Inox will provide engineering, procurement, & construction (EPC) and multi-year operations & maintenance (O&M) services.

  • Laurus Labs approves a Rs 83.3 crore investment in KRKA Pharma, its joint venture with Slovenia’s KRKA. KRKA will invest Rs 86.7 crore, maintaining the 51:49 shareholding structure. The investment will support land acquisition and initial costs for a new manufacturing facility.

  • Jefferies maintains a 'Buy' rating on DLF with a target price of Rs 1,000. The brokerage believes concerns about the Gurgaon market may be exaggerated given the strong cash flows and the positive response to the Dahlia project launch. It highlights the company's appealing net asset value (NAV) discount, and the upcoming Mumbai project launch could serve as a near-term trigger.

  • J Kumar Infraprojects is rising as it secures an order worth Rs 120.9 crore from Mumbai Railway Vikas Corporation (MRVC). The contract includes building bridges, a road overbridge, a subway, drainage, and earthwork between Borivali and Nallasopara stations. It is part of the proposed fifth and sixth railway lines between Borivali and Virar under the Mumbai Urban Transport Project (MUTP) Phase IIIA.

  • Quality Power Electrical Equipments rises sharply as it acquires a 51% stake in Mehru Electrical and Mechanical Engineers for a cash consideration of Rs 120 crore. The acquisition will help the company improve its high-voltage instrument transformer capabilities and expand its export business.

  • Quess Corp rises as the Bengaluru bench of the National Company Law Tribunal (NCLT) approves its demerger into three separate listed entities: Quess Corp, Digitide Solutions, and Bluspring Enterprises.

  • Rites' Chairman and Managing Director, Rahul Mithal, highlights the company’s recovery efforts. He believes the order book will reach Rs 10,000 crore in the next few quarters and projects 20% revenue growth in FY26 due to improved order execution. Mithal adds that Rites secured over 110 orders worth Rs 1,900 crore in the latest quarter, reaching an all-time high. With an existing order book of Rs 8,000 crore, covering 2-2.5 years, the company remains confident in its growth trajectory.

  • Jana Small Finance Bank rises sharply as the Reserve Bank of India (RBI) grants the company a licence to act as an Authorized Dealer Category-I (AD-I) to deal in foreign exchange.

  • Government appoints Amitava Mukherjee as Chairperson and Managing Director of NMDC and NMDC Steel from March 6, 2025, until his superannuation on February 29, 2028.

  • Bharat Electronics is rising as it bags orders worth Rs 577 crore to supply airborne electronic warfare products, communication systems for submarines, doppler weather radar, and train communication systems, among others.

  • Macquarie upgrades Reliance Industries to an 'Outperform' rating and raises the target price to Rs 1,500. The brokerage highlights several incremental positives like better earnings momentum, the potential listing of Jio and the gradual commissioning of new energy capacities for the oil-to-telecom-to-retail conglomerate in the next 6-12 months. It also projects the company’s earnings CAGR to improve to 16% over 2025-27.

  • Jindal Stainless' board of directors approves divesting its 26% stake in Jindal Coke for a consideration of Rs 194.9 crore.

  • Rail Vikas Nigam is rising as it receives a letter of acceptance worth Rs 156.4 crore from South Western Railway for an engineering, procurement, and construction (EPC) project. The contract includes designing, supplying, installing, and commissioning two 25 KV electrification systems, along with related electrical and telecommunication works in the Rayadurga-Topavagada section.

  • Eris Lifesciences sells its arms, Eris Oaknet Healthcare and Aprica Healthcare, to its subsidiary, Eris Therapeutics, for a consideration of Rs 861.9 crore. This comes as part of Eris Group's internal structuring process.

  • Kalpataru Projects International is rising as it secures new orders worth Rs 2,306 crore in the Transmission & Distribution (T&D) business overseas and building projects in India.

  • Nifty 50 was trading at 22,560.55 (15.9, 0.1%), BSE Sensex was trading at 74,347.14 (7.1, 0.0%), while the broader Nifty 500 was trading at 20,465.75 (18.7, 0.1%).

  • Market breadth is highly positive. Of the 2,017 stocks traded today, 1,499 showed gains, and 470 showed losses.

Riding High:

Largecap and midcap gainers today include Suzlon Energy Ltd. (54.92, 5.4%), Mazagon Dock Shipbuilders Ltd. (2,338.20, 4.3%) and Bajaj Holdings & Investment Ltd. (11,789.10, 3.8%).

Downers:

Largecap and midcap losers today include Zomato Ltd. (216.83, -3.8%), IndusInd Bank Ltd. (936.75, -3.6%) and Oracle Financial Services Software Ltd. (7,569.10, -3.3%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Data Patterns (India) Ltd. (1,628.25, 14.6%), Triveni Turbine Ltd. (613.50, 14.5%) and Inox Wind Ltd. (170.75, 11.5%).

Top high volume losers on BSE were Metro Brands Ltd. (1,112.75, -2.2%), Asahi India Glass Ltd. (626.25, -1.2%) and PI Industries Ltd. (3,219.10, -1.1%).

Sun Pharma Advanced Research Company Ltd. (136.60, 8.4%) was trading at 9.5 times of weekly average. Shyam Metalics and Energy Ltd. (825.50, 8.9%) and Kalpataru Projects International Ltd. (931.20, 1.5%) were trading with volumes 8.0 and 6.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

15 stocks climbed above their 200 day SMA including Shyam Metalics and Energy Ltd. (825.50, 8.9%) and Aadhar Housing Finance Ltd. (426.70, 6.5%). 11 stocks slipped below their 200 SMA including Krishna Institute of Medical Sciences Ltd. (512.50, -2.6%) and Dixon Technologies (India) Ltd. (13,911.25, -2.4%).

 
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