Trendlyne Marketwatch
Trendlyne Marketwatch
28 Mar 2025
Market closes lower, Jio Fin Serv invests Rs 1,000.2 crore in its subsidiary Jio Finance
By Trendlyne Analysis

 

Nifty 50 closed at 23,519.35 (-72.6, -0.3%) , BSE Sensex closed at 77,414.92 (-191.5, -0.3%) while the broader Nifty 500 closed at 21,339.55 (-68.4, -0.3%). Market breadth is in the red. Of the 2,471 stocks traded today, 877 were gainers and 1,569 were losers.

Indian indices closed in the red, dragged down by IT and auto stocks, as investor sentiment grew cautious ahead of the US reciprocal tariff announcement next week. The Indian volatility index, Nifty VIX, declined 4% and closed at 12.8 points. Bharat Heavy Electricals received a letter of intent (LoI) worth Rs 11,800 crore from the Chhattisgarh State Power Generation Co (CSPGCL) for engineering, procurement, and construction (EPC) contracts.

Nifty Midcap 100 and Nifty Smallcap 100 closed in the red. BSE FMCG Sector & Nifty FMCG were among the top index gainers today. According to Trendlyne’s Sector dashboard, Healthcare Equipment & Supplies 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. NVIDIA dropped 2.1% yesterday, following three consecutive days of losses. Other chipmakers with exposure to data centers and AI infrastructure were also impacted by rising concerns of an oversupply in the sector. TD Cowen noted that Microsoft, a key AI investor, had canceled several data center leases in the US and Europe, raising worries about oversupply. This came shortly after Alibaba's Chairperson, Joe Tsai, warned of a data center bubble in the US.

  • Relative strength index (RSI) indicates that stocks like Aavas Financiers, Solar Industries, RHI Magnesita, and HEG are in the overbought zone.

  • Ambuja Cements' board approves the appointment of Vinod Bahety as Chief Executive Officer for three years, effective April 1. It also reappoints Ajay Kapur as Managing Director for two years.

  • PTC Industries is rising as its subsidiary, Aerolloy Technologies, bags an order from Safran Aircraft Engines (SAE) to supply seven cast aero-engine components for advanced LEAP-1A and LEAP-1B engines.

  • HBL Engineering is rising as it secures orders worth Rs 499.7 crore under the HBL-Shivakriti Consortium for KAVACH systems. These include a Rs 244.7 crore order from Western Railway for the Rajkot division and Rs 255 crore from North Central Railway for the Jhansi division.

  • ONGC and BPCL are rising as reports suggest that Saudi Aramco is in talks to invest in two planned refineries in India. Aramco intends to supply oil equivalent to three times its stake in each project and aims to sell its share of production either within India or through exports.

  • CLSA maintains a ‘high-conviction outperform’ rating on NHPC with a target price of Rs 117. The brokerage expects the Parbati-II hydroelectric project in Himachal Pradesh to be commissioned by early April. It believes the project will boost NHPC's capacity by 11.5% by FY26 and expects the share price to double over the next four years.

  • Godrej Properties sells over 90 homes worth Rs 1,000 crore in its Gurugram project, Godrej Astra, spanning 2.8 acres.

  • Jindal Steel & Power emerges as the preferred bidder for the Saradhapur Jalatap East coal block, with a total capacity of 3,257 million tonnes of coal in an auction held by the Ministry of Coal.

  • Samvardhana Motherson states that the recently introduced US tariffs on imported products like auto components will have a limited impact on its financials. The company highlights that a large portion of its products supplied to US customers are either manufactured domestically or comply with the United States-Mexico-Canada Agreement (USMCA).

  • CESC subsidiaries Dhariwal Infrastructure and Noida Power Co sign a power purchase agreement with the Uttar Pradesh Electricity Regulatory Commission (UPERC). The deal involves supplying 25 MW of power for three years, starting April 1, 2025.

  • Housing and Urban Development Corporation is rising as its board of directors schedules a meeting on April 4 to consider and approve a borrowing plan of up to Rs 65,000 crore to raise funds for FY26.

  • Jio Financial Services is rising as it invests Rs 1,000.2 crore in its subsidiary, Jio Finance, by subscribing to 1.7 crore shares of the company.

  • Saurabh Gupta, CFO of Dixon Technologies, says the PLI scheme for electronic components will strengthen the supply chain, attracting investments of Rs 40,000-45,000 crore. He expects double-digit margins in the electronics components sector once fully scaled. Gupta highlights the joint venture with Signify will create export opportunities. He projects the revenue to reach Rs 2,000 crore by FY27.

  • Bharat Heavy Electricals rises sharply as it receives a letter of intent (LoI) from the Chhattisgarh State Power Generation Co (CSPGCL) for a Rs 11,800 crore engineering, procurement, and construction (EPC) contract. The project involves setting up a 2x660 MW Korba West thermal power plant, set for completion in 60 months.

  • Force Motors rises sharply as it signs a contract with the Ministry of Defence (MoD) to supply 2,978 units of Force Gurkha light vehicles.

  • Indian Renewable Energy Development Agency is rising as it signs a facility agreement with State Bank of India’s Tokyo branch to raise JPY 26 billion (~Rs 1,476 crore) through external commercial borrowing (ECB), including a JPY 10 billion green shoe option. The five-year unsecured loan is due at maturity and costs less than 7% after hedging, making it cheaper than domestic loans.

  • Chris Wood of Jefferies makes notable adjustments to his long-only portfolios. In his latest Greed & Fear note, he plans to boost his India portfolio's investment in Reliance Industries by 2 percentage points and reduce holdings in HDFC Bank and State Bank of India by 1 percentage point each. He also plans to add DLF to his Asia Ex-Japan portfolio with a 3% weight.

  • Adani Green Energy bags an order from the Uttar Pradesh Power Corp (UPPCL) to supply 400 MW of solar power from a project in Rajasthan for approx. Rs 2.6 per kWh (kilowatt-hour) over 25 years.

  • BSE rises sharply as NSE defers its expiry change following the Securities and Exchange Board of India's (SEBI) proposal to limit derivative expiries to Tuesday or Thursday. Currently, BSE’s contracts expire on Tuesday. NSE planned to shift its expiry to Monday from April 2025, but the change has been postponed indefinitely due to SEBI’s proposal.

  • Hindustan Aeronautics is rising as it revises its contract value to Rs 6,542.2 crore from Rs 5,989.4 crore to supply 20 Light Combat Aircraft Mark 1 to the Indian Air Force.

  • A Reuters poll of economists suggests that the Reserve Bank of India (RBI) is set to reduce interest rates for the second consecutive meeting on April 9. One more rate cut is anticipated in August, marking the shortest easing cycle on record. Most economists, 54 out of 60 surveyed, expect RBI to lower its benchmark repo rate by 25 basis points to 6%.

  • BEML is rising as it secures a contract worth Rs 405 crore from Bengaluru Metro Rail Corp (BMRCL) to supply and maintain metro cars for up to fifteen years under Bengaluru Metro Rail projects.

  • DCM Shriram is rising as it commissions a 12 tonne per day (TDP) integrated compressed biogas plant at its Ajbapur unit with an investment of Rs 131.3 crore.

  • Asian Paints is rising as its subsidiary, Asian Paints (Polymers), increases its capex to Rs 3,250 crore from Rs 2,560 crore for a manufacturing facility for vinyl acetate ethylene emulsion (VAE), vinyl acetate monomer (VAM), and ethylene storage and handling facility in Gujarat.

  • Bharat Electronics is rising as it bags orders worth Rs 1,385 crore to supply radar spares, radar upgradation, electronic voting machines, simulators, advanced land navigation systems, and stabilisers for tanks, among others.

  • Nifty 50 was trading at 23,599.95 (8, 0.0%) , BSE Sensex was trading at 77,700.07 (93.6, 0.1%) while the broader Nifty 500 was trading at 21,486.70 (78.8, 0.4%)

  • Market breadth is ticking up strongly. Of the 1,985 stocks traded today, 1,666 were on the uptrend, and 276 went down.

Riding High:

Largecap and midcap gainers today include Procter & Gamble Hygiene & Healthcare Ltd. (13,600.65, 6.3%), Indraprastha Gas Ltd. (203.12, 3.9%) and 3M India Ltd. (28,889.15, 3.6%).

Downers:

Largecap and midcap losers today include Indian Overseas Bank (38.97, -6.7%), ICICI Prudential Life Insurance Company Ltd. (564.35, -4.6%) and UNO Minda Ltd. (875.50, -4.4%).

Movers and Shakers

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

Top high volume gainers on BSE included Aster DM Healthcare Ltd. (483.50, 6.7%), Atul Ltd. (6,136.60, 5.8%) and Sumitomo Chemical India Ltd. (559.35, 5.5%).

Top high volume losers on BSE were Indian Overseas Bank (38.97, -6.7%), DCM Shriram Ltd. (1,079.15, -2.2%) and JK Lakshmi Cement Ltd. (774.10, -2.1%).

Bayer Cropscience Ltd. (4,909.60, 4.3%) was trading at 10.8 times of weekly average. Timken India Ltd. (2,750.65, 1.5%) and Bata India Ltd. (1,219.90, 1.5%) were trading with volumes 5.5 and 3.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

6 stocks hit their 52 week highs, while 3 stocks hit their 52 week lows.

Stocks touching their year highs included - Chambal Fertilisers & Chemicals Ltd. (625.50, 1.0%), JK Cement Ltd. (4,932.65, 1.0%) and Shree Cements Ltd. (30,502.95, 1.2%).

Stocks making new 52 weeks lows included - Indian Overseas Bank (38.97, -6.7%) and Happiest Minds Technologies Ltd. (596.70, -2.3%).

18 stocks climbed above their 200 day SMA including Authum Investment & Infrastructure Ltd. (1,728, 4.9%) and Rainbow Childrens Medicare Ltd. (1,401.70, 1.7%). 15 stocks slipped below their 200 SMA including Page Industries Ltd. (42,693.75, -2.7%) and KPR Mill Ltd. (906.50, -2.6%).

 
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