Trendlyne Marketwatch
Trendlyne Marketwatch
13 Mar 2025, 03:52PM
Market closes lower, Kolte Patil Developers to raise Rs 417 crore via preferential issue
By Trendlyne Analysis

 

 

Nifty 50 closed at 22,397.20 (-73.3, -0.3%), BSE Sensex closed at 73,828.91 (-200.9, -0.3%) while the broader Nifty 500 closed at 20,176.05 (-88.3, -0.4%). Market breadth is moving down. Of the 2,439 stocks traded today, 762 were in the positive territory and 1,645 were negative.

Indian indices closed in the red, with the benchmark Nifty 50 index extending the losses from the afternoon session. The Indian volatility index, Nifty VIX, declined 3% and closed at 13.3 points. India’s CPI inflation declined to a seven-month low of 3.6% in February from 5.2% in January, driven by easing food, rural and urban inflation. Meanwhile, India Industrial Production (IIP) rose 5% YoY in January, fueled by growth in the mining and capital goods sector.

Nifty Midcap 100 and Nifty Smallcap 100 closed in the red, following the benchmark index. BSE Realty Index & Nifty Realty were among the top index losers today. According to Trendlyne’s Sector dashboard, Realty emerged as the worst-performing sector of the day, with a fall of 1.5%.

Asian indices closed lower, while European indices are trading higher except Russia’s MOEX & RTSI indices. US index futures traded in the green, indicating a positive start to the trading session. Intel gained over 4% after appointing Lip-Bu Tan as its new CEO. Stifel analysts see the move as a long-term positive but caution that Intel faces a lengthy transition as it adapts to the AI-driven semiconductor market. Brent crude oil futures are trading in the red, strained amid concerns over a US recession and high production.

  • Money flow index (MFI) indicates that stocks like Aavas Financiers and Hindalco Industries are in the overbought zone.

  • Kolte-Patil Developers' board approves raising Rs 417 crore through a preferential issue of 1.3 crore shares at Rs 329 per share to Blackstone for 14.3% stake in the company. Additionally, Blackstone seeks to acquire a 26% stake through an open offer.

  • JSW Energy is rising as it signs a power purchase agreement (PPA) with West Bengal State Electricity Distribution Company (WBSEDCL) for a greenfield 1,600 MW thermal power plant in Salboni, West Bengal, set to be commissioned in five years. The company also receives a Commercial Operation Date certificate for Unit 2 of the 700 MW Utkal thermal power plant.

  • Linde India signs a long-term contract with Asian Paints (Polymers) for the supply of industrial gases through a pipeline to its new plant in Dahej, Gujarat. The plant will produce Vinyl Acetate Monomer (VAM) and Vinyl Acetate Ethylene Emulsion (VAE). The company also plans to set up its third Air Separation Unit (ASU) there, with a capacity of 245 tons per day (TPD) of liquid gases and 100 TPD of gaseous oxygen (GOX).

  • Singapore’s state-owned investment firm, Temasek, reportedly acquires a 10% stake in Haldiram Snacks for over Rs 8,000 crore (around $1 billion). The deal follows months of negotiations with other global investors, including Blackstone and Bain Capital, also showing interest in acquiring a stake.

  • HPL Electric & Power is rising sharply as it bags an order worth Rs 369.9 crore for the supply of smart meters to an existing customer.

  • Geojit BNP Paribas upgrades ABB India to a 'Buy' call but lowers target price to Rs 5,710 per share. This indicates a potential upside of 9.4%. The brokerage believes the company's strong order pipeline, focus on emerging segments, and the increased spending in the Union Budget FY26 will help in top-line growth. It expects the firm's revenue to grow at a CAGR of 14.2% over FY25-26.

  • Jubilant Pharmova is rising as its subsidiary, Jubilant Cadista Pharmaceuticals, USA, receives an establishment inspection report (EIR) with a voluntary action indicated (VAI) status from the US FDA for its solid oral formulations facility at Salisbury, Maryland, USA.

  • Arun Shukla, President & Director of JK Lakshmi Cement, mentions that demand is strong and expects cement prices to increase by 1-1.5% in Q4FY25. He forecasts a volume growth of over 9% YoY and an EBITDA per tonne growth of Rs 200/tonne in FY26. Additionally, he highlights that the company plans to double its cement grinding capacity at the Surat unit to 2.7 MTPA.

  • NHPC is falling as its board of directors schedules a meeting for March 19 to consider and approve a borrowing plan to raise debt for FY25-26.

  • Dalmia Bharat is falling as it states that the mineral bearing land tax imposed by the Tamil Nadu Government will have a revenue impact of Rs 130 crore per annum. The company also suggests that it plans to pass the impact on to the customers by hiking prices of its products.

  • RattanIndia Power is falling as the Delhi High Court rejects the company's petition against the Rs 115 crore arbitral award to Bharat Heavy Electricals.

  • Aastha Gudwani, India Chief Economist at Barclays, notes that they initially expected the RBI's Monetary Policy Committee (MPC) to announce a 25bps cut and maintain a 'Neutral' stance in the April meeting. However, they now see the possibility of a larger, non-standard 35bps cut.

  • Macquarie initiates coverage on Adani Green Energy with an ‘Outperform' rating and a target price of Rs 1,200. The brokerage expects its EBITDA to grow at a CAGR of 25% over the next five years on a more conservative pathway. It expects Adani Green to generate an operating cash flow of $1.8 billion against a cumulative capex requirement of over $10 billion through FY30.

  • Sharekhan retains its 'Buy' call on Can Fin Homes, with a target price of Rs 850 per share. This indicates a potential upside of 41.5%. The brokerage believes that the company's investment in tech and IT processes will improve margins in the long term. It expects the firm's revenue to grow at a CAGR of 13.8% over FY25-27.

  • Larsen & Toubro's water & effluent treatment (WET) arm, in a joint venture (JV) with Lantania of Spain, bags an order worth Rs 2,500-5,000 crore from ACWA Power. The order is to set up the Ras Mohaisen Desalination plant with a capacity of 300,000 cubic meters per day in Saudi Arabia.

  • The 25% tariffs on US steel and aluminium imports will have minimal impact on India’s steel industry due to its low exports to the US. However, higher prices could affect India’s $5 billion (Rs 41,500 crore) annual engineering goods exports. The government is taking measures to support domestic steel profitability amid global economic uncertainty. The Directorate General of Trade Remedies (DGTR) is investigating steel dumping, while the industry pushes for safeguard duties on certain imports.

  • Mahanagar Telephone Nigam rises sharply as the Minister of State for Communications, Pemmasani Chandra Sekhar, informs Lok Sabha that MTNL earns Rs 2,134.6 crore from the monetisation of land and building assets.

  • Premier Explosives is rising as it receives an export order worth Rs 21.5 crore for the supply of defence explosives.

  • PG Electroplast is falling as the Assistant Commissioner of State Tax, Mumbai conducts a tax inspection at manufacturing facilities and offices of the company and its subsidiary, PG Technoplast, located in Maharashtra.

  • India’s CPI inflation declines to a seven-month low of 3.6% in February from 5.2% in January, remaining within the RBI’s medium-term target of 2-6%, driven by easing food, rural and urban inflation. Meanwhile, India Industrial Production (IIP) rises 5% YoY in January, fueled by growth in the mining and capital goods sector.

  • Coromandel International is rising as its board of directors approves a share purchase agreement to acquire a 53.1% stake in NACL Industries for Rs 820 crore. The acquisition will help the company to enter the contract manufacturing business, improve new product commercialisation, and to expand its product portfolio.

  • Polycab India is rising as it signs a Rs 3,003 crore agreement with BSNL to serve as the project implementation agency (PIA) to design, supply, build, install, upgrade, operate, and maintain the middle-mile network of BharatNet in the Bihar Telecom Circle.

  • Bharat Electronics is rising as it bags an order worth Rs 2,463 crore from the Ministry of Defence for the supply and services of Ashwini Radars.

  • Va Tech Wabag is rising as it secures orders worth Rs 360 crore in the industrial water treatment sector. This includes a Rs 340 crore order to design, construct, and operate advanced water treatment facilities at GAIL (India)’s petrochemical complex in Uttar Pradesh. Additionally, the company secures a Rs 20 crore operation and maintenance order for an industrial tertiary treated reverse osmosis (TTRO) plant from Indian Oil Corporation.

  • Nifty 50 was trading at 22,490.80 (20.3, 0.1%), BSE Sensex was trading at 74.210.33 (180.6, 0.2%) while the broader Nifty 500 was trading at 20,276.30 (12.0, 0.1%).

  • Market breadth is in the green. Of the 1,918 stocks traded today, 1,062 showed gains, and 804 showed losses.

Riding High:

Largecap and midcap gainers today include UNO Minda Ltd. (902.85, 4.9%), Avenue Supermarts Ltd. (3,797.10, 3.3%) and Thermax Ltd. (3,370.70, 3.3%).

Downers:

Largecap and midcap losers today include PB Fintech Ltd. (1,331.90, -5.3%), Bharat Forge Ltd. (1,039.25, -4.7%) and Sona BLW Precision Forgings Ltd. (485.80, -3.8%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Mangalore Refinery And Petrochemicals Ltd. (119.33, 6.5%), UNO Minda Ltd. (902.85, 4.9%) and Elgi Equipments Ltd. (443.50, 4.1%).

Top high volume losers on BSE were KEC International Ltd. (671.60, -6.0%), PB Fintech Ltd. (1,331.90, -5.3%) and DCM Shriram Ltd. (985, -3.6%).

Hatsun Agro Products Ltd. (868, -0.1%) was trading at 18.4 times of weekly average. Birla Corporation Ltd. (996.50, -2.7%) and Affle (India) Ltd. (1,430.55, -1.1%) were trading with volumes 5.8 and 5.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

23 stocks tanked below their 52 week lows.

Stocks making new 52 weeks lows included - Astral Ltd. (1,238.30, -2.1%) and HFCL Ltd. (77.55, -2.0%).

4 stocks climbed above their 200 day SMA including Godfrey Phillips India Ltd. (5,708.25, 5%) and Tata Steel Ltd. (150.88, 0.4%). 9 stocks slipped below their 200 SMA including Sapphire Foods India Ltd. (304.15, -3.4%) and One97 Communications Ltd. (682.85, -2.7%).

 
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