Trendlyne Marketwatch
Trendlyne Marketwatch
21 Mar 2025, 04:10PM
Market closes higher, CBI arrests Power Grid Corp's General Manager and KEC Intl's Deputy General Manager
By Trendlyne Analysis

 

Nifty 50 closed at 23,350.40 (159.8, 0.7%), BSE Sensex closed at 76,905.51 (557.5, 0.7%) while the broader Nifty 500 closed at 21,273.90 (203.9, 1.0%). Market breadth is surging up. Of the 2,466 stocks traded today, 1,760 were on the uptrend, and 668 went down.

Indian indices closed higher after rising throughout the day. The Indian volatility index, Nifty VIX, fell 0.2% and closed at 12.6 points. Ola Electric closed 8.4% higher after clarifying that a temporary vehicle registration backlog caused the discrepancies in its February sales data, rejecting claims of regulatory issues. The company stated that 40% of the backlog has been cleared and expects to fully resolve the issue by March end.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green. BSE Oil & Gas and Nifty Media were among the best-performing indices of the day. According to Trendlyne’s sector dashboard, Telecommunications Equipment emerged as the highest-performing sector of the day, with a rise of 4.2%.

European indices are trading lower, except Russia’s RTSI and MOEX indices, which closed 0.3% higher each. Major Asian indices closed mixed. US index futures are trading in the red, indicating a cautious start to the session amid mixed signals from the Federal Reserve and Trump's reciprocal and additional tariffs set for April 2.

  • Relative strength index (RSI) indicates that stocks like Aavas Financiers, Tata Steel, AstraZeneca Pharma, and InterGlobe Aviation are in the overbought zone.

  • The Central Bureau of Investigation (CBI) arrests Power Grid Corp's General Manager Uday Kumar and KEC International's Deputy General Manager Suman Singh for corruption. Kumar was caught taking a Rs 2.5 lakh bribe, while Singh allegedly favour certain contractors.

  • SML Isuzu is surging as its board of directors approves the resignation of its Managing Director (MD) and Chief Executive Officer (CEO), Junya Yamanishi, effective April 16. The board also approves appointing Yasushi Nishikawa as the MD and CEO, effective April 17.

  • Ajanta Pharma is surging as it plans to expand the capacity of its liquid formulation facility in Pithampur by 12 million bottles per annum from 6 million bottles per annum with a capex of Rs 92 crore.

  • Motilal Oswal reiterates its ‘Buy’ rating on Gail India with a target price of Rs 195 per share. It expects GAIL to benefit from rising gas penetration in India and projects a 7% CAGR in transmission and marketing volumes over FY25-27. The brokerage sees limited downside at current levels, driven by robust transmission growth, a steady marketing outlook, and a diversified petrochemical portfolio.

  • Reliance Industries' (RIL) subsidiary, Reliance Strategic Business Ventures, acquires a 74% stake in Nauyaan Shipyard (NSPL) from Welspun Corp for Rs 382.7 crore. NSPL holds leasehold rights to 138 acres near RIL’s Dahej facility, proposed for energy and infrastructure projects.

  • Adani Energy Solutions is rising as it secures a power transmission project worth Rs 2,800 crore in Gujarat. The company will supply renewable energy for Green Hydrogen and Green Ammonia production in Mundra. It involves upgrading the Navinal (Mundra) substation and building a 75 km, 765kV transmission line to connect it to the Bhuj substation.

  • Reports suggest that 72.5 lakh shares of TBO Tek have changed hands in a bloc deal at a floor price of Rs 1,180. Augusta TBO and TBO Korea Holdings are likely the sellers in the transaction.

  • Unichem Laboratories rises sharply as it completes a 210 kilo litre (KL) capacity expansion of its active pharmaceutical ingredient (API) plant in Pithampur, with a capex of Rs 200 crore.

  • Embassy Developments is rising as its subsidiary, Embassy East Business Park, enters an agreement worth Rs 1,125 crore with Lam Research (India) to sub lease and divest a 25-acre land in Whitefield, Bangalore.

  • Larsen & Toubro's buildings & factories vertical secures an order worth Rs 2,500-5,000 crore from Brigade Group to construct residential and commercial towers in Hyderabad and Chennai.

  • Ola Electric rises sharply after clarifying that a temporary vehicle registration backlog caused the discrepancies in its February sales data, rejecting claims of regulatory issues. The company stated that 40% of the backlog has been cleared and expects to fully resolve the issue by March end.

  • Bharat Heavy Electricals rises as it secures a Rs 7,500 crore order from Gujarat State Electricity Corporation for an 800 MW power unit at Ukai in Gujarat. The order includes equipment supply, erection, commissioning, and civil works.

  • Hero MotoCorp rises sharply as its board of directors approves the acquisition of a 32.5% stake in Euler Motors for a cash consideration of Rs 525 crore. This acquisition is part of the company's plans to expand into the electric three-wheeler business.

  • Rail Vikas Nigam is rising as it receives an order worth Rs 554.6 crore order from the National Highway Authority of India (NHAI) to build a six-lane road connecting Sabbavaram bypass to Sheelanagar junction on National Highway 516C in Andhra Pradesh.

  • CLSA says premium motorcycles are outperforming, while entry-level bikes lag. Motorcycle volumes grew 5% YoY in FY25 YTD, with premium rising 8% and entry-level falling 11%. Bajaj Auto lost market share in the 125-250cc segment, but CLSA prefers the stock post its recent correction, seeing it well-positioned to benefit from rising demand in the category. The brokerage has an ‘Outperform’ rating on Bajaj Auto and Hero MotoCorp and ‘Hold’ on Eicher Motors and TVS Motor.

  • Citi upgrades United Spirits to a ‘Buy’ call and raises its target price to Rs 1,650. The brokerage expects moderate margin expansion for the company despite rising commodity costs. It believes the company is well-positioned to benefit from an easing regulatory environment and India’s growing organised liquor market. Citi forecasts 11% revenue, 15% EBITDA, and 16% EPS CAGR from FY25 to FY27.

  • Hindustan Construction (HCC) rises sharply as its joint venture (JV) with Tata Projects secures a Rs 2,470 crore order from Tata Power for a pumped storage project in Maharashtra. This involves constructing the Bhivpuri Off-Stream Open Loop Pumped Storage Project and infrastructure & electro-mechanical works for the 1,000 MW facility in Karjat.

  • RailTel is rising as it bags an order worth Rs 16.8 crore from the Ministry of Defence for optical fibre cable (OFC) laying work

  • Jefferies says Accenture’s Q2 revenue growth was healthy, driven by strong performance in North America and the BFSI segment. However, weak deal bookings and a lowered FY25 growth guidance of 5-7% pose risks for next year. In Indian IT, the brokerage lists Infosys and TCS among large-caps and Coforge among mid-caps as its top picks.

  • Bajaj Finance surges to its all-time high of Rs 9,089 per share as its board of directors appoints Raajeev Jain as the Vice Chairman and Anup Kumar as the Managing Director, effective April 1.

  • Va Tech Wabag rises sharply after signing a term sheet for a municipal platform worth approximately $100 million (~ Rs 863 crore) with a Norfund-led consortium to fund municipal water projects over three to five years.

  • Container Corp of India is rising as it places an order worth Rs 192 crore for the supply of 10 rakes of Bogie Low platform flat (BLSS) wagons over the next 10 years from GATX India.

  • Manappuram Finance is rising as Bain Capital plans to acquire an 18% stake for Rs 4,385 crore through a preferential allotment of shares and warrants. After the deal closes, Bain Capital will become a promoter of the company.

  • Nifty 50 was trading at 23,197.85 (7.2, 0.0%), BSE Sensex was trading at 76,155 (-193.1, -0.3%) while the broader Nifty 500 was trading at 21,100.85 (30.8, 0.2%).

  • Market breadth is surging up. Of the 2,005 stocks traded today, 1,449 were gainers and 500 were losers.

Riding High:

Largecap and midcap gainers today include General Insurance Corporation of India (445.35, 8.8%), IDBI Bank Ltd. (81.37, 8.1%) and Mankind Pharma Ltd. (2,415.05, 7.6%).

Downers:

Largecap and midcap losers today include Jindal Stainless Ltd. (625.70, -4.3%), Suzlon Energy Ltd. (56.50, -3.2%) and Voltas Ltd. (1,429.50, -2.8%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Mangalore Refinery And Petrochemicals Ltd. (135.53, 15.0%), Alembic Pharmaceuticals Ltd. (952.60, 14.1%) and Ramkrishna Forgings Ltd. (843.90, 13.2%).

Top high volume losers on BSE were TBO Tek Ltd. (1,207.25, -4.9%), Crisil Ltd. (4,233.80, -4.1%) and Campus Activewear Ltd. (241.90, -3.7%).

Gland Pharma Ltd. (1,585.40, -0.4%) was trading at 22.5 times of weekly average. Nuvoco Vistas Corporation Ltd. (325.55, 6.8%) and Jupiter Wagons Ltd. (347.90, 11.0%) were trading with volumes 15.6 and 13.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

8 stocks took off, crossing 52 week highs,

Stocks touching their year highs included - Bajaj Finance Ltd. (8,916.10, 2.7%), Chambal Fertilisers & Chemicals Ltd. (597.05, 3.0%) and Kotak Mahindra Bank Ltd. (2,079, 2.1%).

25 stocks climbed above their 200 day SMA including BLS International Services Ltd. (397.40, 9.9%) and Home First Finance Company India Ltd. (1,103.15, 9.2%). 5 stocks slipped below their 200 SMA including Aadhar Housing Finance Ltd. (417.45, -2.9%) and Garden Reach Shipbuilders & Engineers Ltd. (1,701.60, -1.3%).

 
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