Indian Stock markets were trading with decent gains in the noon deals of Wednesday, March 30, 2022. At 1:09 pm, the S&P BSE Sensex was trading with a gain of 591.60 points or 1.02% at 58,535.25. The Nifty 50 index was 150.20 points or 0.87% up and was trading at 17,475.50. Meanwhile, certain stocks were in action in either direction based on reports linked to them. Here is a list of some of such stocks:

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Buzzing Stocks

  • Sharda Cropchem: Up 6.47%.
  • General Insurance Corporation: Up 5.05%.
  • Kaya: Up 9.62%.
  • Aegis Logistics: Up 8.04%.
  • Patel Integrated: Up 3.02%.
  • Nucleus Software: Up 10.77%.
  • DFM Foods: Up 7.64%.
  • Centrum Capital: Up 19.87%.
  • Greaves Cotton: Up 2.43%.
  • Nippon Life India: UP 1.60%.
  • Asian Paints: Up 1.33%.
  • IndiGo: UP 2.23%.
  • Sadbhav Engineering: Up 12.96%.
  • Aegis Logistics: Up 7.63%.
  • NIIT: Up 4.59%.
  • Coastal Corporation: Up 5.74%.
  • IFB Agro: UP 4.95%.
  • Waterbase: Up 2.05%.
  • Aries Agro: Up 4.53%.
  • SPIC: Up 2.26%.
  • BHEL: Up 2.65%.
  • BEL: Up 1.06%.
  • Schaeffler India Ltd: Up 2.18%.
  • Bajaj Group Stocks: On a move. Stocks like Bajaj Finance - up 2.71%; Bajaj Finserv - up 3.22%; Bajaj Electricals - up 1.46%; and Bajaj Holdings - up 1.14% were trading with decent gains.
  • Bank Stocks: On a move. Stocks like IDFC First Bank - up 4.88%; Bandhan Bank - up 2.51%; Axis Bank - up 2.20%; ICICI Bank - up 1.87%; RBL Bank - up 1.75% and Kotak Bank - up 1.08% were trading with decent gains.
  • Auto Stocks: On a move. Stocks like Hero MotoCorp - up 2.73%; Maruti - up 2.27%; TVS Motors - up 2.04%; M&M - up 2.02%; Ashok Leyland - up 1.75% and Tata Motors - up 1.29% were trading with decent gains.
  • Auto Ancillary Stocks: On a move. Stocks like Craftsman Automation - up 4.85%; Gabriel India - up 3.76%; Automotive Axle - up 3.77%; JTEKT India - up 2.86%; Lumax Industries - up 2.58%; Munjal Auto - up 2.96% and Suprajit Engineering - up 3.58% were trading with decent gains.
  • Financial Services Stocks: On a move. Stocks like Bajaj Finance - up 2.71%; Bajaj Finserv - up 3.22%; HDFC Life - up 2.68%; HDFC AMC - up 2.50%; HDFC - 2%; Cholamandalam Investment - up 2.36% and ICICI General Insurance - up 1.87% were trading with decent gains.
  • FMCG Stocks: On a move. Stocks like Radico Khaitan - up 4.37%; Varun Beverages - up 3.74%; Emami - up 3.50%; Tata Consumer - up 3.20%; Godrej Consumer - up 3.13%; United Spirits - up 2.12% and Dabur - up 1.98% were trading with decent gains.
  • IT Stocks: On a move. Stocks like LTI - up 1.87%; Coforge - up 1.36%; Infosys - up 1.27% and LTTS - up 1.21% were trading with decent gains.
  • Realty Stocks: On a move. Stocks like Macrotech Developers - up 3.70%; DLF - up 2.61%; Phoenix Mills - up 2.27%; Indiabulls Real Estate - up 2.11% and Brigade Enterprises - up 1.38% were trading with decent gains.
  • Consumer Durables Stocks: On a move. Stocks like Relaxo - up 3.93%; Dixon Technologies - up 2.80%; Kajaria Ceramics - up 1.59%; V Guard - up 1.49% and Blue Star - up 1% were trading with decent gains.
  • Oil & Gas Stocks: On a move. Stocks like MRPL - up 3.30%; Reliance - up 2%; Petronet - up 1.92%; Castrol India - up 1.35% and Gujarat Gas - up 1.17% were trading with decent gains.
  • Tea & Coffee Stocks: On a move. Stocks like Tata Coffee - up 10.88%; Harrisons Malayalam - up 3.78%; Tata Consumer - up 3.43%; McLeod Russel - up 2.91% and Jay Shree Tea - up 2.82% were trading with decent gains.
  • Drilling & Offshore Stocks: On a move. Stocks like Asian Energy Services - up 4.88%; HOEC - up 6.34% and Aban Offshore - up 1.64% were trading with decent gains.
  • Selective Shipping Stocks: On a move. Stocks like SEAMAC - up 1.64%; Navkar Corp - up 3.74%; SCI - up 2.37% and Gujarat Pipavav - up 1% were trading with decent gains.
  • Packaging Stocks: On a move. Stocks like TCPL Packaging - up 5.03%; Huhtamaki India - up 3.73%; Ester Industries - up 3.63%; Hitech Plastic - up 3.63% and Tinplate - up 1.74% were trading with decent gains.
  • Textile Stocks: On a move. Stocks like Raymond - up 12.79%; Indo Count - up 6.78%; Himatsingka Seide - up 8.40%; Dollar Industries - up 3.55%; RSWM - up 2.99%; Page Industries - up 3.43% and Garware Technical Fibres Limited - up 3.45% were trading with decent gains.
  • Housing Finance Stocks: On a move. Stocks like Home First Finance - up 3.18%; Aavas Financiers - up 4.62%; Poonawalla Fincorp - up 3.01%; GIC Housing - up 1.85% and PNB Housing - up 1.23% were trading with decent gains.
  • Agri Stocks: On a move. Stocks like Jain Irrigation - up 5.71%; Shakti Pumps - up 4.84%; Rallis India - up 3.46%; Kaveri Seed - up 2.01%; Avanti Feeds - up 1.13% and Aries Agro - up 3.61% were trading with decent gains.
  • Cement Stocks: On a move. Stocks like JK Lakshmi Cement - up 3.90%; Dalmia Bharat - up 4.07%; Ramco Cements - up 3.97%; Grasim - up 1.78%; JK Cement - up 2.25%; HIL - up 2.28% and Ultratech Cement - up 1.89% were trading with decent gains.
  • Chemical Stocks: On a move. Stocks like Meghmani Finechem - up 5%; Jubilant Industries - up 3.08%; Ineos Styrolution - up 2.09%; Balaji Amines - up 3.33% and Chemplast Sanmar - up 3.30% were trading with decent gains.

 

Falling Stocks

  • Tech Mahindra: Down 2.07%.
  • VIP Industries: Down 1.87%.
  • P&G Hygiene: Down 1.60%.
  • Vardhman Textiles: Down 3.09%.
  • Cineline India: Down 3.68%.
  • Anupam Rasayan: Down 2.40%.
  • HDIL: Down 4.94%.
  • Adani Power: Down 3.05%.
  • Lupin: Down 1.65%.
  • Alkem Laboratories: Down 1.25%.
  • Aurobindo Pharma: Down 1.20%.
  • Oil India: Down 2.52%.
  • Metal Stocks: Under pressure. Stocks like Hindalco - down 4.61%; National Aluminium - down 3.34%; JSW Steel - down 2.79%; Vedanta - down 2.44%; Tata Steel - down 1.95% and Jindal Steel - down 1.53% were trading in negative territory.
  • Fertilizer Stocks: Under pressure. Stocks like Madras Fertilizers - down 4.43%; Zuari Agro - down 2.27%; RCF - down 2.84%; GSFC - down 2.50%; GNFC - down 2.27%; FACT - down 1.40% and Chambal Fertilizer - down 1% were trading in negative territory.

 

 

IPO Update

  • Hariom Pipes IPO: The Rs 130/05-crore initial public offering of the Hyderabad-based Hariom Pipe Industries Ltd was subscribed 0.47 times by 1:02 pm on Wednesday, the first day for subscription. The Non-Institutional Investors portion and the Retail Individual Investors (RIIs) portions were was subscribed 0.01 times and 1.33 times, respectively. The company has fixed the price band for its initial public offering at Rs 144-153 per share. The public issue will close on April 5, 2022. The IPO comprises a fresh issue of up to 8.5 million shares and at the upper end of the price band, the firm will raise around Rs 130.05 crore (Total Fresh issue).
  • Veranda Learning Solutions IPO: The Rs 200-crore initial public offerings (IPO) of the Chennai-based Veranda Learning Solutions was subscribed 0.97 times by 12:59 pm on Wednesday, the second day for bidding. Qualified Institutional Buyers (QIBs) portion was subscribed 0.05 times, while the Non-Institutional Investors portion and the Retail Individual Investors (RIIs) portions were was subscribed 0.96 times and 5.73 times. The public order will remain till March 31, 2022. The company has fixed the price band of Rs 130-137 per share.
  • Uma Exports IPO: The Rs 60 crore initial public offering (IPO) of the company was subscribed 5.84 times by 12:59 pm on Wednesday, the third day for bidding. Qualified Institutional Buyers (QIBs) portion was subscribed 100 per cent, while the Non-Institutional Investors (NIIs) portion was subscribed 1.22 times while Retail Individual Investors (RIIs) was subscribed 7.92 times. The public offer will close today. Uma Exports Ltd has set the price band for its public issue at Rs 65-68 a share. The company will utilise Rs 50 crore out of this to fund its working capital requirements. The market lot size is 200 shares. 

 

Stocks in News

  • Tata Consumer (Up 3.43%)/ Tata Coffee (Up 10.88%): Tata Consumer Products Ltd (TCPL) on Tuesday announced a reorganization of India and overseas business to simplify, align and synergize its business. This plan includes the demerger of the plantation business of Tata Coffee Limited (TCL) into TCPL Beverages & Foods Limited (TBFL), a wholly-owned subsidiary of TCPL and the merger of the remaining business of TCL, consisting of its extraction and branded coffee business with TCPL, with the demerger to happen as the first step and merger to happen as the immediate second step, both being proposed through a composite scheme of arrangement. Under the scheme, shareholders of TCL (other than TCPL) will receive an aggregate of 3 equity shares of TCPL for every 10 equity shares held by them in TCL. This will be carried out through the issuance of 1 equity share of TCPL for every 22 equity shares of TCL in consideration for the demerger. For the merger, 14 equity shares of TCPL will be issued for every 55 equity shares of TCL, it added. This will enable the consolidation and 100% ownership of the branded, extractions & plantations business of TCL into TCPL and its wholly-owned subsidiary. Deal at a premium of 13.7% as per CMP. Besides, the Board of Directors of TCPL have also approved the purchase of a 10.15% minority interest in its UK subsidiary, TCP UK, from Tata Enterprise (Overseas) AG, Switzerland (TEO). Stakes of Tata Enterprises (Overseas) Switzerland will be bought for Rs 571 crore. 
  • IDBI Bank: Up 1.75%. The Board of Directors of IDBI Bank Ltd. on Tuesday granted in-principle approval for divestment of the Bank's stake upto 11.10% of the paid-up share capital of National Securities Depository Ltd. (NSDL). Besides, the board also approved to sell of IDBI Bank's entire stake of 20 crore equity shares in Ageas Federal Life Insurance Company Limited (AFLI) to Ageas Insurance International NV (Ageas) pursuant to the exercise of Call Option by Ageas.
  • Hero MotoCorp: Up 2.73%. The world's largest two-wheeler manufacturer has provided its clarification on the media report related to the false expenses claim said that the allegations made in the press report are not borne out of any document that has been served on us or our internal documents. Therefore, we categorically deny the speculative press reports. As and when the tax department concludes its findings and communicates to us, we will inform the exchanges suitably. Hero MotoCorp is a law-abiding corporate, with robust internal financial controls and its financial statements are duly audited. Besides, Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from April 5, 2022. The price revision will be up to Rs. 2,000 and the exact quantum of increase will be subject to a specific model and the market. The price revision has been necessitated to partially offset the impact of increasing commodity prices.
  • BEL: Up 1.06%. The state-run Bharat Electronics Ltd has secured a contract worth Rs 2,000 crore from the defence ministry for the development of advanced electronic warfare equipment.
  • SBI Life Insurance Company: Up 1.84%. Canada Pension Plan Investment Board sold 55.83 lakh shares at Rs 1,068.35/share. Deal value stands at Rs 596.5 crore. 
  • Ruchi Soya Industries: Up 2.59%. The company has announced the revised timeline for determining the issue price and the anchor investor issue price of its Follow on the Public Offer (FPO). The meeting of the board of directors of the company is rescheduled for March 31, 2022. Earlier it was scheduled for March 29, 2022.
  • ONGC: Down 4.62%. The government will this week sell up to 1.5% of its stake (0.75% Base + 0.75% Green Shoe Option) in the country's top oil and gas producer ONGC to raise about Rs 3,000 crore. The Offer For Sale (OFS) by the government will be open on March 30 and 31, 2022. The floor price for the OFS has been set at Rs 159 per share. This price is at a 7 per cent discount to the Rs 171.05 stock closing price of ONGC on the BSE on Tuesday.
  • Supreme Petrochem: Down 4.72%. The Record Date for the Scheme of Reduction of Equity Share Capital of the Company has been fixed for Friday, April 8, 2022. Under the scheme, the equity share capital of the company will come down from Rs 94.02 crore to Rs 37.60 crore. This will be done by reducing the face value of the equity shares from the existing Rs 10 per share to Rs 4 per share, pursuant to the Order of the Hon'ble National Company Law Tribunal, Mumbai Bench, Mumbai.