Share Market HIGHLIGHTS: Sensex ends 90 pts higher, Nifty at 21,839 led by auto, FMCG, energy stocks; Royal Enfield parent zooms
Share Market HIGHLIGHTS: Domestic equity indices Sensex and Nifty registered mild gains on Wednesday (March 20), though recovery only a fraction of the losses registered amid a broad-based sell-off the previous day, as weakness in financial stocks offset strength in auto, FMCG and energy shares.
ALSO READ: Block deals hit Rs 55,000-crore milestone so far this month
Globally, investors remained on the back foot ahead of a key benchmark interest rate decision in the world's largest economy due later in the day.
Here are some of the stocks that made headlines:
- Maruti Suzuki races past Rs 12,000/share for first time
- LT Foods shares skyrocket after Abakkus Asset Manager picks 0.97% equity via block deal
- Eicher Motors zooms after UBS double upgrades Royal Enfield maker to 'buy'; check out target price
- Zomato rises after Bernstein double-upgrades stock, lifts target by 10%
- PSU multibagger to give Rs 4.5/share dividend
- SBI Card Dividend: Stock to trade ex-date on this date
- Aurobindo Pharma shares gain after drug maker wins US regulator approval for nasal spray
Catch all the highlights of the March 20 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
Share Market HIGHLIGHTS: Domestic equity indices Sensex and Nifty registered mild gains on Wednesday (March 20), though recovery only a fraction of the losses registered amid a broad-based sell-off the previous day, as weakness in financial stocks offset strength in auto, FMCG and energy shares.
ALSO READ: Block deals hit Rs 55,000-crore milestone so far this month
Globally, investors remained on the back foot ahead of a key benchmark interest rate decision in the world's largest economy due later in the day.
Here are some of the stocks that made headlines:
- Maruti Suzuki races past Rs 12,000/share for first time
- LT Foods shares skyrocket after Abakkus Asset Manager picks 0.97% equity via block deal
- Eicher Motors zooms after UBS double upgrades Royal Enfield maker to 'buy'; check out target price
- Zomato rises after Bernstein double-upgrades stock, lifts target by 10%
- PSU multibagger to give Rs 4.5/share dividend
- SBI Card Dividend: Stock to trade ex-date on this date
- Aurobindo Pharma shares gain after drug maker wins US regulator approval for nasal spray
Catch all the highlights of the March 20 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
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Forex Market Update: Rupee ends weaker by 12 paise at 83.16 vs dollar
Share Market Today: Sensex ends 90 pts higher, Nifty climbs to 21,839 led by auto, FMCG, energy stocks; Eicher Motors up 4%
Block deal data: Rs 55,000-crore transactions in March so far; investors cautious
Dalal Street has recorded block deals amounting to Rs 55,000 crore so far this month, setting March on course to emerge a fourth month with block deals of more than Rs 21,000 crore, according to provisional exchange data.
According to Zee Business research, several promoters, private equity funds and global investment funds have pared stake in listed entities in March through block deals.
Gensol Engineering shares hit upper circuit for 3rd day in a row
Gensol Engineering shares hit 5 per cent upper circuit for the third consecutive day on Wednesday. The stock opened the gap up with a gain of 5 per cent at the upper circuit limit of Rs 882.10 on the BSE. The counter had closed at Rs 840.10 in the last trading session.
On technical parameters, the counter is trading higher than the 5-day and 200-day moving averages but lower than the 20-day, 50-day and 100-day.
Maruti Suzuki climbs past Rs 12,000 price for the first time
Shares of the country's leading automaker Maruti Suzuki in trade on Wednesday (March 20) galloped past Rs 12000 price levels for the first time. The stock at its day’s high marked levels of Rs 12,025, up 3.69 per cent over the previous close.
Shares of the country’s largest passenger-vehicle manufacturer logged 17 per cent year-to-date return as against the Nifty’s return of 0.9 per cent during the same period.
Over 386% return in 3 years: Smallcap metal stock gains for second consecutive day
Shares of JTL Industries, which is into steel tube manufacturing, gained more than 3 per cent on Wednesday i.e. March 20. The counter opened upside at Rs 193.15 on the BSE and went on to hit an intraday high of Rs 198 apiece. This is a surge of 3.07 per cent from the previous close of Rs 192.10.
The smallcap metal stock gained for the second consecutive day today as benchmark equity indices rebounded in early trade on Wednesday after a sharp decline in the previous trade amid a rally in global markets and fresh foreign fund inflows.
PSU multibagger to give Rs 4.5/share payout, to trade ex-date next week
State-owned REC's shares are all set to trade ex-dividend next week, as the Maharatna PSU has announced a third interim dividend for the current financial year.
During market hours on Tuesday, infrastructure finance company REC announced the dividend of Rs 4.5 per equity share of the face value of Rs 10 per share.
GPT Healthcare reports 37.3% jump in YoY profit, announces dividend; stock jumps
Recently listed GPT Healthcare shares zoomed 10 per cent in trade on Wednesday, a day after the company announced its Q3FY24 results and the second interim dividend.
At around 10:33 a.m., shares of GPT Healthcare rose 5.72 per cent or Rs 9.6 at Rs 177.35 apiece on BSE. The market capitalisation of the company at around the same time stood at Rs 1,453.6 crore.
LT Foods shares skyrocket 10% after Abakkus Asset Manager picks 0.97% equity via block deal
Shares of LT Foods gained as much as 10 per cent in Wednesday's trade touching the day's high at Rs 178 apiece on BSE. The stock rallied after 0.97 per cent equity changed hands via a block deal. The transaction is valued at nearly Rs 55 crore.
As of 12:09 p.m., shares of LT Foods traded 7.49 per cent or Rs 12.15 higher, at Rs 174.3 apiece on the BSE. The market capitalisation of the company at around the same time stood at Rs 6,052.62 crore.
Bharti Hexacom gets Sebi's approval to float IPO
Bharti Airtel's arm Bharti Hexacom has received capital markets regulator Sebi's nod to mobilise funds through an initial public offering (IPO).
The IPO will not have any fresh issuance of equity shares, and since it is an offer for sale or OFS, Bharti Hexacom will not receive any proceeds from the issue.
Cyient Share Price Target: JP Morgan initiates coverage of IT major with 'overweight' rating - Check details
Shares of Cyient Limited surged on Wednesday after brokerage JP Morgan initiated coverage of the IT major. The counter opened in green at Rs 2015.30 - a surge of over 2 per cent from the previous close of Rs 1973.20.
The scrip surged as much as 3.92 per cent to touch a high of Rs 2050.55. Last seen, the counter held firmly in green and was trading at Rs 1989.10 on the BSE.
Precious metals trade flat; yellow metal near Rs 65,600; white metal above Rs 75,300
Domestic precious metal futures on Wednesday were muted with a positive bias as markets prepared for the Federal Reserve’s rate decision later today, with policymakers due to present forecasting that could shed light on when the US central bank will pivot to lowering borrowing costs.
Last seen, MCX gold futures (Apr 5) were flat with a positive bias at Rs 65,599 per 10 grams at the last count, having traded between Rs 65,596 and Rs 65,623 earlier in the day. MCX Silver futures (May 5) were flat at Rs 75,310 per kg.
What brokerages make of Tata Technologies, Zomato, Gujarat Gas, OMC stocks today
As Dalal Street enters the March 20 session, brokerages have several stocks on their radar. Here's what UBS, Jefferies, Macquarie, JPMorgan, Citi and Nomura make of stocks such as Tata Technologies, Zomato, Gujarat Gas, Engineering Research & Development (ER&D), Electronics Manufacturing Services (EMS) and oil marketing companies (OMCs):
332.50% dividend in FY24 | This gas PSU stock gets 'Buy' call - check target price
Natural gas distribution company Gujarat Gas Limited has announced that its board of directors will meet on May 6 to consider dividends for the financial year 2023-24. The company will also consider and approve the standalone and consolidated audited financial results for the quarter and financial year ended on March 31, 2024.
Gujarat Gas Share Price Target 2024
Ahead of the scheduled meeting, brokerage firms have given a 'BUY' call on Gujarat Gas shares. Read more