March 17 records yet another volatile session at the Indian equity which sets benchmarks higher. The Nifty was up 114.40 points, or 0.67 percent, at 17,100 at the close, and the Sensex was up 355.06 points, or 0.62 percent, at 57,989.90.
Enterprises of Zee Entertainment, CMP: Rs 206.05
On March 17, the stock closed lower after Zee Entertainment Enterprises called a new report that said the company was going to repay $10 million to IndusInd Bank to close the deal with Sony “speculative.” The media company clarified for the stock exchanges that it was looking into a variety of options, including a settlement, providing a new way of justifications to the news reports. Read More Business News on our website.
FSN Internet business Adventures, CMP: Rs 140
Following a significant block deal, the company’s share price ended in the black on March 17. Bloomberg reports that in bundled trade, 6.57 million shares of Nykaa, or 0.23% of the company, were traded for Rs 141.90 each, representing a value of Rs 93.2 crore. Nomura, a Japanese brokerage, recently reiterated its “buy” rating for Nykaa with a target price of Rs 214, representing an implied 55% upside over the March 16 closing price of Rs 138.
KPIT Technologies, CMP: Rs 869
The script gained more than 6% after the CEO and MD of the company, Kishor Patil, stated that the company’s partnership with Honda was the largest SDM engagement. On March 15, Honda and KPIT Technologies, a company that provides software solutions to the automotive and mobility industries, announced a partnership. The goal of the partnership is to speed up Honda’s progress toward software-defined mobility.
GAIL (India), CMP : Rs 110.10
Following the signing of a memorandum of understanding (MoU) with Shell Energy India regarding the import of hydrocarbons, the share closed in the green on March 17. The largest gas utility in India said it had reached an agreement with Shell Energy India Pvt Ltd to investigate ethane sourcing and other energy value chain opportunities. In order to replace natural gas and naphtha as feedstock at petrochemical plants, GAIL plans to import ethane from the United States.
Jubilant Pharmova, CMP: Rs 306.45
After the company’s subsidiary received a second loan facility from the Canadian government for capacity expansion, the stock rose by more than 10%. According to Jubilant Pharmova, its subsidiary Jubilant Hollister Stier has received approval from the Canadian government to provide a partially repayable loan of CAD 23.8 million to finance the CAD 108 million capacity expansion at the Montreal manufacturing facility through the Strategic Innovation Fund (SIF) program.
VA Tech Wabag, CMP: Rs 335
The script acquired 5% after the organization said it got a Rs 800-crore request from the Dhaka Water Supply and Sewerage Expert in Bangladesh. It needs to be configuration, fabricated and work the extension of Pagla Sewage Treatment Plant (STP) with a limit of 200 million liters every day (MLD) at Pagla in Dhaka, the organization said in a delivery to the media.
Rail Vikas Nigam, CMP: Rs 62.85
After the company announced that it had won an order worth Rs 112 billion from Madhya Pradesh, the stock price ended in the red. An exchange filing indicates that RVNL won the contract for the supply, installation, testing, and commissioning of various 11 KV line-related works in the MPPKVVCL’s Singrauli, Sagar, Damoh, Chhatarpur, Panna, and Tikamgarh Circles in the Jabalpur company area.
TeamLease Services, CMP: Rs 2,378
The stock price was negative at the end. The record date for determining the entitlement and names of shareholders who will be eligible to participate in the proposed buyback was approved by the company’s board of directors on April 3, 2023.
Bank IDBI, CMP: Rs 46.85
The scrip rose by more than 5% after the DIPAM secretary said that the IDBI divestment process was moving forward and that news reports that said it had been delayed were false and speculative. After receiving multiple Eols, the process, according to him, was in the post- (Expression of Interest) Eol stage. Inaccurate, speculative, and baseless are the media reports suggesting that the IDBI Bank’s disinvestment might be delayed. The DIPAM secretary tweeted, “The transaction continues to De on track as per the defined process in the post-Eol stage following receipts of multiple Eols.”
India’s Transport Corporation, CMP: Rs 630
The offer cost finished in the green, up right around 2%, after HDFC Common Asset through a few plans purchased an extra 2.04 percent stake, or 15.78 lakh shares, in Transport Enterprise of India by means of open market exchanges on Walk 14. The fund house’s shareholding increased from 5.66 percent to 7.7 percent as a result of this.