The benchmark indices extended gains and were trading with gains of around 2% in the noon deals of Wednesday, March 9, 2022. At 1:08 pm, the S&P BSE Sensex was trading with a gain of 1.087.20 points or 2.04% at 54,511.20. The Nifty 50 index was 297.05 points or 1.86% up and was trading at 16,310.50. Meanwhile, certain stocks were in action in either direction based on reports linked to them. Here is a list of some of such stocks:

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Buzzing Stocks

  • IOL Chemicals: Up 13.17%.
  • Take Solutions: Up 19.93%.
  • Thomas Cook (India): Up 12.13%.
  • Malu Paper: Up 7.08%.
  • Spandhana Sphoorty: Up 6.52%.
  • Bharat Dynamics: Up 4.23%.
  • Ramco Systems: Up 5.30%.
  • Trent: Up 6.39%.
  • GE Shipping: Up 4.82%.
  • Nilkamal: UP 3.50%.
  • Accelya Solutions: Up 2.51%.
  • Bharti Airtel: Up 1.65%.
  • Rallis India: Up 3.71%.
  • Shakti Pumps: Up 3.56%.
  • Reliance Industries: Up 3.60%.
  • Bajaj Finserv: Up 1.86%.
  • Sugar Stocks: On a move. Stocks like Dwarikesh Sugar - up 15.32%; KCP Sugar - up 14.34%; Rana Sugar - up 9.85%; Kothari Sugar - up 8.33%; Magadh Sugar - up 7.75%; Dalmia Bharat Sugar - 6.12% and Renuka Sugar - up 6.03% among others were trading with decent gains.
  • Petro Product Stocks: On a move. Stocks like TN Petroproducts - up 2.67%; IG Petrochemicals - up 2.91%; Chennai Petroleum - up 5.99% and Manali Petrochemicals - up 3.80% were trading with decent gains.
  • Offshore Drilling Stocks: On a move. Stocks like Aban Offshore - up 3.59%; Duke Offshore - up 2.54% and Asian Energy Services - up 4.80% were trading with decent gains.
  • Education Stocks: On a move. Stocks like NIIT Ltd. - up 3.34%; Navneet Education - up 5.15% and CL Educate - up 4.56% were trading with decent gains.
  • Logistics Stocks: On a move. Stocks like Aegis Logistics - up 5.60%; Mahindra Logistics - up 4.17%; Patel Integrated - up 1% and Sical Logistics - up 3.50% were trading with decent gains.
  • Healthcare Stocks: On a move. Stocks like Lal Path Labs - up 5.91%; Zydus Life - up 4.09%; Laurus Lab - up 3.70%; Lupin - up 3.16%; Star - down 2.54%; Dr Reddy's - up 2.21%; and Sun Pharma - up 2.05% were trading with decent gains.
  • Realty Stocks: On a move. Stocks like DLF - up 2.09%; Mactrotech Developers - up 1.96%; Brigade Enterprises - up 1.88%; Godrej Properties - up 1.81% and Indiabulls Real Estate - up 1.18% were trading with decent gains.
  • IT Stocks: On a move. Stocks like Tech Mahindra - up 2.99%; Infosys - up 2.63%; Mindtree - up 2.13%; Mphasis - up 2.10%; HCL Technologies - up 1.26% and Wipro - up 0.94% were trading with decent gains.
  • FMCG Stocks: On a move. Stocks like United Spirits - up 3.60%; UBL - up 2.62%; Tata Consumer - up 2.49%; Hindustan Unilever - up 2.12% and Radico Khaitan - up 1.89% were trading with decent gains.
  • Banking Stocks: On a move. Stocks like AU Small Finance Bank - up 2.51%; IndusInd Bank - up 2.18%; RBL Bank - up 1.83%; IDFC First Bank - up 1.35%; HDFC Bank - up 1.17% and Federal Bank - up 1.12% were trading with decent gains.

Aviation Stocks + Hotel Stocks + Tourism Stocks: Stocks of these sectors were reacting to the news that International Flights to and from India are will be resumed from March 27, 2022. The Civil Aviation Ministry has suspended the regular international flights in March 2020 in view of the Covid-19 pandemic. The Civil Aviation Ministry said the international operations shall be subject to strict adherence to the Ministry of Health & Family Welfare guidelines for international travel.

  • Aviation Stocks: On a move. Stocks like InterGlobe - up 7.12%; SpiceJet - up 4.99%; Global Vectra - up 4.92% and Taneja Aerospace - up 1.12% were trading with gains.
  • Hotel Stocks: On a move. Stocks like Indian Hotels - up 4.61%; Kamat hotels - up 1.77%; ITDC - up 2.74%; Royal Orchid - up 4.40% and Oriental Hotels - up 1.90% were trading with decent gains.
  • Selective QSR Stocks: On a move. Stocks like Speciality Restaurants - up 1.74%; Westlife Development - up 2.19% and Devyani International - up 1.83% were trading with decent gains.

Auto Stocks + Auto Ancillary Stocks: They were reacting to news that the Delhi Transport Infrastructure Development Corporation (DTIDC) has started the process of setting up a dedicated electric vehicle (EV) cell by inviting applications for the appointment of a chief executive officer and professionals to handle its day-to-day work. The primary objective of the EV Cell is to support and accelerate the implementation of the electric vehicle policy through facilitating the disbursement of demand incentives and charging stations.

  • Auto Stocks: On a move. Stocks like Ashok Leyland - up 3.68%; M&M - up 3%; TVS Motor - up 2.03%; Maruti - up 1.50% and Bajaj Auto - up 1.11% were trading with decent gains.
  • Auto Ancillary Stocks: On a move. Stocks like Jay Bharat Maruti - up 3.21%; Lumax Auto Technologies - up 2.64%; Suprajit Engineering - up 3.11%; Bharat Gears - up 3.03%; Timken India - up 2.61%; Craftsman Automation - up 1.60% and Jamna Auto - up 2.13% were trading with decent gains.

Losing Stocks

  • Bajaj Electricals: Down 4.67%.
  • Bosch: Down 3.11%.
  • Quess Corp: Down 2.59%.
  • Shree Cement: Down 2.58%.
  • Blue Star: Up 2.62%.
  • Vedanta: Up 2.79%.
  • Orient Bell: Down 1.57%.
  • Atul Ltd.: Down 1.27%.
  • Minda Industries: Down 1.49%.
  • Aavas Financiers: Down 1.91%.
  • Coforge: Down 1.97%.
  • BEML: Down 1.68%.
  • GSPL: Down 1.08%.
  • VIP Industries: Down 1.95%.
  • UTI AMC: Down 1.41%.
  • Power Grid: Down 1.93%.
  • Cholamandalam Financial Holdings: Down 1.90%
  • Metal Stocks: Under Pressure. Stocks like Hindustan Copper - down 2.09%; JSW Steel - down 1.46%; Hindustan Zinc - down 1.36% and Tata Steel - down 1.34% were trading in the negative territory.
  • Oil & Gas Stocks: Under Pressure. Stocks like Petronet LNG - down 3.08%; GSPL - down 1.55%; GAIL - down 1.52%; MGL - down 1.45%; ONGC - down 1.37%; and Gujarat Gas - down 1.33% were trading in the negative territory.

Stocks in News

  • IndusInd Bank: Up 2.18%. Private sector IndusInd Bank on Tuesday said the microfinance loan disbursals by its subsidiary Bharat Financial Inclusion Ltd (BFIL) between March 1, 2020, and October 31, 2021, was a result of a “technical glitch”, according to the findings of the audit firm Deloitte and the bank has set up a panel to assess its staff’s accountability, if any. The matter relates to allegations of disbursal of microfinance loans by BFIL during the abovementioned period without seeking the consent of the customers. Following receipt of the complaints, the bank took immediate corrective steps, including conducting an internal audit, IT audit and discontinuation of OTP-based authentication for loan disbursal in November 2021. Subsequently, it appointed Deloitte Touche Tohmatsu India LLP (Deloitte) to conduct an independent review. The portfolio, net of provisions, where consent recording was an issue amounted to Rs 8.87 crore as of December 31, 2021 (0.03% of the microfinance portfolio). Bank’s microfinance products require the full collection of arrears or repayment of overdue loans outstanding prior to fresh disbursement to a customer. Certain operational issues were highlighted in product rollout. Deloitte suggests improvements in IT and controls. The potential implications of the review findings, including the lapses in product execution and the client consent recording, in terms of inc recognition & provisioning requirement, is Rs 13.5 crore. 
  • Zydus Lifesciences: Up 4.09%. Sentynl Therapeutics Inc., a wholly-owned subsidiary of Zydus Lifesciences Ltd. (formerly known as Cadila Healthcare Ltd.) and BridgeBio Pharma have announced the execution of an asset purchase agreement for the sale of BridgeBio’s NULIBRY (Fosdenopterin) for Injection. Under the terms of the Agreement, Sentynl will acquire global rights to NULIBRY and will be responsible for the ongoing development and commercialisation of NULIBRY in the United States and developing, manufacturing and commercialising Fosdenopterin globally. Sentynl will provide cash payments upon the achievement of certain regulatory milestones. BridgeBio will be eligible to receive commercial milestone payments as well as tiered royalties on adjusted net sales of NULIBRY. NULIBRY is approved by the U.S. Food and Drug Administration (USFDA) to reduce the risk of mortality in patients with molybdenum cofactor deficiency (MoCD) Type-A, an ultra-rare, life-threatening paediatric genetic disorder. 
  • ISGEC Heavy Engineering Ltd: Up 4.03%. It has bagged a large order for Cement Waste Heat Recovery Boilers from Shree Cement for their 3.8 MTPA clinker capacity, integrated Cement Plant at Nawalgarh, District Jhunjhunu, Rajasthan.
  • TVS Motor: Up 2.7&%. The Board of Directors of the Company is scheduled to meet on March 18, 2022, to consider and approve an interim dividend, if any, to the shareholders of the Company for the year ending March 31 2022. The record date for the purpose of the interim dividend will be March 28, 2022.
  • Titan: Up 2.30% The company, reportedly, is in advanced talks to buy a majority stake in home-grown wearables maker Noise. The transaction is likely to value Noise at around Rs 700-800 crore.
  • Railway Stocks: On a move. Stocks like Walchandnagar Industries - up 5.898%; Kernex Microsystems - up 5%; RVNL - up 3.75%; BEL - up 3.29%; Astra Microsystem - up 2.71%; Titagarh Wagons - up 2.60%; IRCTC - up 1.80%; RITES - up 1.61% and L&T - up 1.77% were trading with decent gains. Indian Railways, reportedly, will soon float a mega tender to procure 30,000 freight wagons every year over the next three years at an estimated cost of over Rs 35,000 crore. The tender is expected to be issued in Q1FY23.  
  • Petronet LNG: Down 3.08%. Petronet LNG Limited (PLL) has incorporated a wholly-owned subsidiary company in Singapore under the name ''Petronet LNG Singapore Pte. Ltd.'' on March 7, 2022. The newly incorporated wholly-owned subsidiary Petronet LNG Singapore Pte. Ltd. has been incorporated to carry out business/activities, including but not limited to purchase of LNG on the long, spot and short-term basis and sale of LNG, trading of LNG to Indian and foreign companies, optimization and diversion of LNG under its portfolio, carry out hedging, purchase of LNG under LNG SPAs, sale of LNG to customers, investments in overseas ventures etc. The registered office of the wholly-owned subsidiary company is in Singapore.