On the sectoral front, the metal index shed nearly 3 percent, while pharma, oil & gas, power, FMCG and realty indices rose a percent each
The benchmark indices ended on a positive note in a highly volatile session on March 16. At close, the Sensex was up 78.94 points, or 0.14%, at 57,634.84, and the Nifty was up 13.40 points, or 0.08%, at 16,985.60.
Titan Company | CMP: Rs 2,451. The share closed 2.21 percent higher on positive commentary from brokerages. Titan is a preferred discretionary play and expects market share gains to be a core growth driver, supported by strategic initiatives, said JPMorgan.
Zee Entertainment | CMP: Rs 207.95 | The stock jumped a percent after Zee Entertainment Enterprises agreed to repay dues owed to IndusInd Bank as the company seeks to resolve insolvency proceedings initiated against it and inch closer to completing a merger with a Sony Group unit to create a $10 billion media giant, people familiar with the matter said.
DLF | CMP: Rs 361 | The stock price was up over 4 percent after the firm witnessed a record-breaking pre-formal launch sales of more than Rs 8,000 crores for its luxury high-rise residences, The Arbour, at DLF Sixtythree on Golf Course Extension in Sector 63, Gurugram.
Godawari Power | CMP: Rs 377 | The stock added a percent on March 16. The company announced it may consider a buyback of shares at its board meeting on March 18. If approved, this will mark the steel manufacturer’s first share buyback.
NACL Industries | CMP: Rs 85 | The scrip added over 2 percent after subsidiary NACL Multichem received environment clearance from the Ministry of Environment, Forest and Climate Change to establish a manufacturing facility in Andhra Pradesh. The unit will manufacture various agrochemicals, synthetic organic chemicals and fluorine-based chemicals with a production capacity of 264.615 TPD and a co-generation power plant (6 MW).
Patel Engineering | CMP: Rs 15 | The share price rose over 3 percent after the company was declared the lowest bidder for two micro irrigation projects worth Rs 1,265 crore in Madhya Pradesh and Karnataka.
Nykaa | CMP: Rs 138.90 | The stock price ended in the green on March 16. Foreign brokerage firm Nomura reiterated its “buy’ rating on Nykaa shares with a target price of Rs 214 apiece.
ICICI Prudential | CMP: Rs 409.90 | The scrip gained over 6 percent on March 16. The board of directors of ICICI Prudential Life Insurance Company appointed Anup Bagchi, Executive Director, ICICI Bank and Non-executive Director of the company, as the MD & CEO for a period of five years with effect from June 19, 2023 or the date of regulatory approval(s), whichever is later.
Man Industries | CMP: Rs 89 | The share price jumped over 4 percent after the company received an export order of approximately Rs 1,300 crore. The total order book of the company stands at approximately Rs 2,000 crore to be executed in six to eight months.
Sunflag Iron | CMP: Rs 141.80 | The stock ended in the green after the company entered into long-term power delivery agreements (PDA) with the three solar power producer companies. The company also executed share subscription and shareholders’ agreements with Renew Green Energy Solutions (promoter) and the three solar power producers for developing and operating renewable energy projects and also deliver the power generated from its 71.34 MW solar photovoltaic projects to the company for 15 years extendable upto 25 years.
Sandip Das
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