Trendlyne Marketwatch
Trendlyne Marketwatch
20 Mar 2025, 03:55PM
Market closes higher, Shakti Pumps' board approves a borrowing plan worth Rs 2,000 crore
By Trendlyne Analysis

 

 

Nifty 50 closed at 23,190.65 (283.1, 1.2%) , BSE Sensex closed at 76,348.06 (899.0, 1.2%) while the broader Nifty 500 closed at 21,070.05 (205.6, 1.0%). Market breadth is in the green. Of the 2,450 stocks traded today, 1,426 were on the uptrend, and 993 went down.

Indian indices closed higher after rising throughout the day. The Indian volatility index, Nifty VIX, fell 5.3% and closed at 12.6 points. Companies like KEI Industries, Polycab, and Havells India plunged after Adani Enterprises announced its entry into the wires and cables business. The company’s arm, Kutch Copper, formed a JV, Praneetha Ecocables, to manufacture, market, and distribute metal products, cables, and wires.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green. Nifty Oil & Gas and Nifty FMCG closed higher. According to Trendlyne’s sector dashboard, Telecom Services emerged as the best-performing sector of the day, with a rise of 3.2%.

European indices are trading flat or lower. Major Asian indices closed mixed. US index futures are trading mixed, indicating a cautious start to the session. The US Federal Reserve held rates steady at its latest meeting and signalled two cuts in 2025. The central bank also revised its outlook, raising its 2025 inflation forecast to 2.7%. It lowered its GDP growth projection from 2.1% to 1.7% for the full year. Meanwhile, QXO entered a deal to acquire Beacon Roofing Supply for $11 billion.

  • KEI Industries sees a short buildup in its March 27 futures series, with open interest increasing by 92.4% and a put-call ratio of 1.

  • Bharat Forge rises sharply as the Cabinet Committee on Security (CCS) approves a Rs 7,000 crore order to acquire 307 Advanced Towed Artillery Gun Systems (ATAGS) for 15 artillery regiments. Bharat Forge will likely receive 60% of the order.

  • Adani Green's subsidiary, Adani Green Energy Twenty Four, commissions a 250 MW solar project in Bhimsar, Rajasthan. This raises Adani Green’s total operational renewable capacity to 12,841.1 MW.

  • Data from the Commerce Department reveals a 10.9% YoY decline in exports to $36.9 billion (approx. Rs 3,04,000 crore) in February, marking the steepest drop in 20 months. According to the Global Trade Research Initiative (GTRI), exports of key items such as petroleum products, iron ore, gems & jewellery, oilseeds, and ceramics contracted sharply in February, highlighting the need for "targeted support and strategic interventions" to stimulate recovery.

  • Insolation Energy secures a letter of intent (LoI) for a 38.4 MW solar project from Ajmer Vidyut Vitran Nigam and Jaipur Vidyut Vitran Nigam. The project involves an investment of Rs 134 crore and will be executed in FY26, including 25 years of operation and maintenance.

  • Shakti Pumps falls sharply as its board of directors approves a borrowing plan worth Rs 2,000 crore.

  • KPI Green Energy is rising as its subsidiary, Sun Drops Energia, secures a contract to develop 14.9 MW of solar power projects under the captive power producer segment for multiple clients.

  • Reports suggest that Adani Group is in advanced discussions to acquire the Indian arm of Dubai-based Emaar Group, with a potential enterprise value of $1.4 billion (approx. Rs 11,600 crore). Both groups are negotiating the transaction structure, which may involve an unlisted Adani unit contributing around $400 million (approx. Rs 3,300 crore) in equity.

  • Trent's subsidiary, Booker India, acquires a 100% stake in THPL Support Services (TSSL) from Trent Hypermarket (THPL) for a cash consideration of Rs 166.4 crore.

  • GPT Infraprojects rises sharply as it secures an order worth Rs 481.1 crore from South Eastern Railway, Kolkata. The project includes building a bridge over the Rupnarayan River, a viaduct on both sides and an elevated platform at Kolaghat Station on the Howrah-Kharagpur route.

  • CLSA maintains its ‘Outperform’ rating on Zee Entertainment with a target price of Rs 170. The brokerage believes the company's share price will likely double in the next 12-24 months. It expects the company's EBITDA and net profit to grow at a CAGR of 22% and 33%, respectively, over FY26-27, even if advertising revenue increases by 6% YoY.

  • The Directorate General of Trade Remedies (DGTR) recommends a 12% safeguard duty on certain steel products for 200 days to protect the domestic industry from rising import pressures. This recommendation, pending approval from the Department of Revenue, comes after the US imposed a 25% tariff on steel and aluminium on March 12.

  • NHPC's board approves raising up to Rs 6,300 crore in debt for FY26. The funds will be secured through corporate bonds, term loans, or external commercial borrowings in multiple tranches via private placement.

  • One97 Communications (Paytm) falls as Jefferies maintains its 'Hold' rating with a target price of Rs 850. The brokerage notes that the government incentives for low-value UPI P2M transactions have been halved to Rs 1,500 crore. It expects incentives to drop from 20 bps to 6 bps. Jefferies also warns that if the company’s incentives drop proportionately, its FY25 adjusted EBITDA could be 50% below estimates.

  • Syngene International's subsidiary, Syngene USA, acquires a biologics manufacturing facility from Emergent BioSolutions' arm, Emergent Manufacturing Operations Baltimore, for $36.5 million (~ Rs 314.9 crore).

  • Ola Electric Mobility declines by over 3% as the Ministry of Heavy Industries reportedly seeks clarification regarding the discrepancy between its reported sales and actual vehicle registrations. Ola Electric claimed it sold 25,000 vehicles last month, but data from the Vahan Portal shows that only 8,600 vehicles were registered.

  • Garden Reach Shipbuilders is rising as it signs a memorandum of understanding (MoU) with the Public Works Department (PWD), Nagaland, to supply eight sets of double-lane modular steel bridges.

  • SBFC Finance's promoter sells 1.3 crore shares (1.3% stake) for Rs 112 crore through an open market transaction at an average price of Rs 82 each. After this sale, the promoter's stake decreases to 53.4% from 54.7%

  • Hyundai Motor India announces a price hike of up to 3% for its vehicles, effective April 2025, due to rising input costs and higher commodity prices.

  • Cables & wires makers KEI Industries, Polycab India, and Havells India, among others, fall sharply after the Adani Group announces its foray into the space. Adani Group’s Kutch Copper forms a JV, Praneetha Ecocables, to manufacture, market, and distribute metal products, cables, and wires.

  • Avenue Supermarts (D-Mart) invests Rs 175 crore in its subsidiary, Avenue E-Commerce, by subscribing to 4.7 crore shares at an issue price of Rs 37.4 per share.

  • Adani Enterprises is rising as its subsidiary, Kutch Copper, forms a 50: 50 joint venture (JV), Praneetha Ecocables, with Praneetha Ventures. This JV helps Adani foray into the cables and wires business and will undertake the manufacturing, marketing, distribution, buying and selling of metal products, cables, and wires.

  • Paras Defence and Space Technologies rises sharply as it receives an order worth Rs 142.3 crore from the Centre for High Energy Systems & Sciences (CHESS), Defence Research and Development Organisation (DRDO), to develop a Laser Source Module and integrate it with a Beam Control System (BCS) on a mobile platform.

  • NCC is rising sharply as it bags an order worth Rs 2,129.6 crore from the Andhra Pradesh Capital Region Development Authority to construct roads, drains, water supply, sewage and other works in Amaravati Capital City.

  • Markets rise on early trading, Nifty 50 was trading at 23,022 (114.4, 0.5%), BSE Sensex was trading at 75,917.11 (468.1, 0.6%) while the broader Nifty 500 was trading at 20,998.35 (133.9, 0.6%).

  • Market breadth is overwhelmingly positive. Of the 2,027 stocks traded today, 1,794 showed gains, and 191 showed losses.

Riding High:

Largecap and midcap gainers today include Bharat Forge Ltd. (1,194.30, 5.1%), Max Healthcare Institute Ltd. (1,135.85, 4.5%) and Phoenix Mills Ltd. (1,624, 4.4%).

Downers:

Largecap and midcap losers today include Polycab India Ltd. (5,083.40, -6.5%), Havells India Ltd. (1,501.35, -3.6%) and UNO Minda Ltd. (978.30, -3.4%).

Movers and Shakers

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

Top high volume gainers on BSE included Rajesh Exports Ltd. (187.58, 18.2%), RHI Magnesita India Ltd. (461.60, 10.9%) and Sun Pharma Advanced Research Company Ltd. (144.49, 10.9%).

Top high volume losers on BSE were KEI Industries Ltd. (2,841.10, -13.5%), Polycab India Ltd. (5,083.40, -6.5%) and Havells India Ltd. (1,501.35, -3.6%).

Eris Lifesciences Ltd. (1,356.95, 1.2%) was trading at 29.2 times of weekly average. Fine Organic Industries Ltd. (3,997, 6.1%) and AstraZeneca Pharma India Ltd. (8,383.60, 6.1%) were trading with volumes 14.2 and 10.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

6 stocks made 52 week highs, while 1 stock were underachiever and hit their 52 week lows.

Stocks touching their year highs included - InterGlobe Aviation Ltd. (5,086.75, 2.1%), Muthoot Finance Ltd. (2,374.75, -1.7%) and Welspun Corp Ltd. (872.10, 7.7%).

Stock making new 52 weeks lows included - KEI Industries Ltd. (2,841.10, -13.5%).

26 stocks climbed above their 200 day SMA including KFIN Technologies Ltd. (1,050.30, 7.7%) and Garware Technical Fibres Ltd. (845.20, 6.0%). 1 stock slipped below their 200 SMA including Jubilant Foodworks Ltd. (627.60, -1.5%).

 
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