Trendlyne Marketwatch
Trendlyne Marketwatch
25 Mar 2025
Market closes flat, JSW Steel's board approves Rs 1,677 crore buyback at Rs 75 per share
By Trendlyne Analysis

 

 

Nifty 50 closed at 23,668.65 (10.3, 0.0%), BSE Sensex closed at 78,017.19 (32.8, 0.0%) while the broader Nifty 500 closed at 21,437.75 (-100.4, -0.5%). Market breadth is highly negative. Of the 2,459 stocks traded today, 493 were in the positive territory and 1,940 were negative.

Indian indices closed flat, with the benchmark Nifty 50 index failing to hold early gains. The Indian volatility index, Nifty VIX, rose 0.7% and closed at 13.8 points. Kalpataru Projects International rose 3.7% as it secured orders worth Rs 2,366 crore in the transmission & distribution (T&D) and buildings & factories (B&F) businesses in India and overseas.

Nifty Midcap 100 and Nifty Smallcap 100 closed in the red. Nifty IT & BSE IT Sector were among the top index gainers today. According to Trendlyne’s Sector dashboard, Retailing emerged as the best-performing sector of the day, with a rise of 1.5%.

Asian indices closed lower, while European indices are trading mixed. US index futures traded in the red, indicating a cautious start to the trading session. The S&P Global Flash US PMI Composite Index rose to a 3-month high of 53.5 in March, up from 51.6 in February, showing stronger business activity. The service sector saw its best growth this year, fueled by higher demand. However, the US Manufacturing Output Index dropped to a 3-month low of 48.8 from 54.5, due to tariff concerns and slower new orders growth.

  • Relative strength index (RSI) indicates that stocks like Aavas Financiers, ICICI Bank, Kotak Mahindra Bank, and Solar Industries are in the overbought zone.

  • JSW Steel rises to its all-time high of Rs 1,074.9 per share as its board of directors approves a buyback of 22.3 crore shares worth Rs 1,676.5 crore at a floor price of Rs 75.3 per share.

  • Bajel Projects secures an order worth Rs 100-200 crore from the Madhya Pradesh Power Transmission Corporation (MPPTCL). The contract involves supplying materials and building 132kV overhead and underground transmission lines along with related infrastructure. It also includes installing power transformers at substations to support the Bhopal Metro Rail Project.

  • Brigade Enterprises acquires a 4.4 acre land parcel in Bengaluru for a residential project. The project has a gross development value (GDV) of around Rs 950 crore.

  • Reports suggest that India may cut tariffs on over half of US imports worth $23 billion (Rs 1.9 lakh crore) in the first phase of a trade deal to avoid reciprocal tariffs. Under the agreement, India is open to reducing tariffs on 55% of US goods it imports, currently taxed between 5% and 30%.

  • Ashiana Housing books 293 units in Jaipur’s Ashiana Nitara project, with a sale value of Rs 173.4 crore. The project consists of 336 units, including 2BHK and 3BHK apartments.

  • KPI Green Energy's subsidiary, Sun Drops Energia, bags multiple orders to develop solar power projects with a total capacity of 13.8 MW under the captive power producer (CPP) segment.

  • Alkyl Amines and India Pesticides are falling after the Directorate General of Trade Remedies (DGTR) imposes an anti-dumping duty on Pretilachlor and Acetonitrile imports from China, Russia, and Taiwan. Pretilachlor, a widely used herbicide for weed control in rice and paddy fields, is produced in significant quantities by both companies in India.

  • Motilal Oswal initiates coverage on Suzlon Energy with a 'Buy' rating and a target price of Rs 70. The brokerage anticipates growth in net cash position through FY27, driven by minimal capex requirements. The company projects India’s wind energy installations to hit 4GW in FY25, 6GW in FY26, and 7-8GW annually from FY27. This outlook presents strong growth potential for its EPC and OMS businesses.

  • SBI Life Insurance receives an income tax order from the Faceless Assessment Unit for AY 2023-24, demanding Rs 431 crore in tax. The company claims the demand arises from an incorrect addition of allowable expenses and exemptions.

  • NBCC (India) receives work orders worth Rs 658.4 crore from two clients. These include a Rs 440 crore order from the Uttarakhand Investment and Infrastructure Development Board (UIIDB) for redevelopment projects in Haridwar and a Rs 219.4 crore from the Centre for Development of Telematics (C-DOT) for construction and project management at its New Delhi campus.

  • Interarch Building Products is rising as it signs a memorandum of understanding (MoU) with Mold-Tek Technologies (MTTL) to expand its international business. As per the MoU, MTTL will provide engineering design and detailing services. Interarch will handle manufacturing, shipping, erection, and related services for pre-engineered metal building (PEMB) and structural steel projects.

  • Central Bank of India declines over 4% after its board approves a qualified institutional placement (QIP) issue. The floor price for the QIP is Rs 42.6 per share, a discount of 9% from Monday's close.

  • Restaurant Brands Asia falls as it sets the floor price for its qualified institutional placement (QIP) at Rs 62.3 per share, a 3.2% discount to Monday's close. The company aims to raise up to Rs 500 crore through the QIP.

  • Kalpataru Projects International is rising as it secures orders worth Rs 2,366 crore in the transmission & distribution (T&D) and buildings & factories (B&F) businesses in India and overseas.

  • Jupiter Life Line Hospitals' subsidiary, Jupiter Hospitals Projects, enters an agreement with HDFC Bank for a Rs 350 crore term loan.

  • Macquarie analysts see higher discretionary incomes driving QSR sector recovery, making it an appealing investment opportunity. They are optimistic about Devyani International and Westlife Foodworld but remain cautious about food delivery players like Zomato and Swiggy, citing concerns over profitability, competition, and a shift towards dining out.

  • Engineers India secures two contracts worth Rs 730 crore from Middle East clients for project management consultancy (PMC) and engineering services.

  • SG Finserve rises sharply as Madhusudan Kela buys 9.5 lakh shares (1.7% stake) worth Rs 33.2 crore through a bulk deal on Monday. The transaction was executed at an average price of Rs 350 per share.

  • Ola Electric Mobility's subsidiary, Ola Electric Technologies, settles its debts with Rosmerta Group, prompting the group to withdraw its bankruptcy plea against Ola from the National Company Law Tribunal (NCLT).

  • UBS upgrades UltraTech Cement, Dalmia Bharat, and Ambuja Cements to a 'Buy' rating with target prices of Rs 13,000, Rs 2,100, and Rs 620, respectively. The brokerage anticipates a strong recovery in cement demand in the upcoming fiscal year. It believes the sector's recent challenges, including weak demand, declining prices, and slow volume growth, are likely to subside.

  • Seamec rises sharply as it signs a subcontract worth $5.6 million (~ Rs 48.1 crore) with Posh India Offshore to carry out installation work for ONGC. The contract includes installing riser clamps, bowstrings, and other equipment for ONGC’s Pipeline Replacement Project and Daman Upside Development Project (DUDP).

  • Garden Reach Shipbuilders & Engineers is rising as it bags a contract from Carsten Rehder Schiffsmakler and Reederei GmbH, Germany, to manufacture and deliver two multi-purpose vessels (MPVs) of 7,500 deadweight tonnage (DWT) capacity. This contract comes under the option agreement signed between the companies to build eight vessels at an order value of $108 million (~ Rs 925.5 crore).

  • Rail Vikas Nigam is rising as it secures an order worth Rs 115.8 crore from Central Railway to upgrade the electric traction system in the Itarsi-Amla section of the Nagpur Division.

  • Hyundai Motor India is rising as its board of directors approves a Rs 694 crore investment to manufacture stamping tools and panels for vehicles.

  • Nifty 50 was trading at 23,727.60 (69.3, 0.3%), BSE Sensex was trading at 78,288.44 (304.1, 0.4%) while the broader Nifty 500 was trading at 21,606.25 (68.2, 0.3%).

  • Market breadth is surging up. Of the 2,055 stocks traded today, 1,460 were on the uptrend, and 541 went down.

Riding High:

Largecap and midcap gainers today include Bharti Hexacom Ltd. (1,441.10, 3.7%), UltraTech Cement Ltd. (11,421.20, 3.4%) and Thermax Ltd. (3,567.40, 3.0%).

Downers:

Largecap and midcap losers today include Dixon Technologies (India) Ltd. (13,624.50, -6.7%), Zomato Ltd. (209.81, -5.8%) and IndusInd Bank Ltd. (637.05, -4.8%).

Volume Rockets

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

Top high volume gainers on BSE included HEG Ltd. (483, 11.9%), Blue Dart Express Ltd. (6,516.25, 8.5%) and Graphite India Ltd. (495.90, 7.8%).

Top high volume losers on BSE were Dixon Technologies (India) Ltd. (13,624.50, -6.7%) and Carborundum Universal Ltd. (999.50, -1.3%).

Hatsun Agro Products Ltd. (987, 2.5%) was trading at 21.4 times of weekly average. Punjab & Sind Bank (46.74, 4.7%) and Piramal Pharma Ltd. (226.72, 3.5%) were trading with volumes 12.4 and 9.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

6 stocks took off, crossing 52 week highs, while 4 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Bajaj Finance Ltd. (9,067.25, -0.3%), Chambal Fertilisers & Chemicals Ltd. (614.35, -0.8%) and JSW Steel Ltd. (1,061.70, 0.0%).

Stocks making new 52 weeks lows included - Colgate-Palmolive (India) Ltd. (2,378.40, -2.0%) and Honeywell Automation India Ltd. (32,649.80, -1.8%).

16 stocks climbed above their 200 day SMA including HEG Ltd. (483, 11.9%) and Graphite India Ltd. (495.90, 7.8%). 16 stocks slipped below their 200 SMA including Dixon Technologies (India) Ltd. (13,624.50, -6.7%) and Home First Finance Company India Ltd. (1,027.80, -5.4%).

 
More from Trendlyne Marketwatch
More from Trendlyne Analysis
Recommended
Chart of the Week: Most new-age IT IPOs drop in valuations post listing
The Baseline | 27 Mar 2025, 04:19PM
Market closes higher, Zen Tech bags a Rs 152 crore order from the Ministry of Defence
Trendlyne Marketwatch | 27 Mar 2025, 04:03PM
Markets close higher, Rakesh Jhunjhunwala buys a 2.2% stake in Indiabulls Housing Finance
Trendlyne Marketwatch | 22 Jul 2021