On March 28 , the Sensex ended 40.14 points or 0.07 percent at 57,613.72. Nifty closed 34 points or 0.20 percent at 16,951.70. About 1010 shares advanced, 2448 shares declined, and 97 shares were unchanged. Take a look at the top gainers and losers.
2/11
PNC Infratech| CMP: Rs 282 | Shares zoomed over 6 percent after the construction company emerged as the lowest bidder for a road project. The stock also touched an intraday high of Rs 289.60. The project involves the construction of a four-lane highway from Singraur Uphar to Baranpur Kadipur Ichauli of NH-731A with paved shoulder in Uttar Pradesh under the hybrid annuity mode, for which PNC Infratech has bid Rs 819 crore for the project.
3/11
Bharti Airtel | CMP: Rs 748 | The scrip fell nearly 2 percent. This came after the Telecom Regulatory Authority of India asked telecommunication companies to take immediate action to curb pesky calls and messages as the regulator listed measures to crackdown on the issue of unsolicited commercial communications.
4/11
Oracle Credit | CMP: Rs 62.62 | Shares of Oracle Credit were locked in upper circuit after the company's board approved its plans for a fundraise. "Post approval, the company is set to raise up to Rs 49 crore through issuing equity shares by way of rights issue to the eligible equity shareholders as on the record date which will be notified in the due course," the company said in an exchange filing.
5/11
Dilip Buildcon | CMP: Rs 169 | The stock gained more than 10 percent intraday after the company emerged as the lowest bidder for a road project in Andhra Pradesh. The project is worth Rs 780.12 crore and to be constructed in 24 months and operated for 15 years, from the commencement of operations date. However, the stock saw some profit booking and closed in the red.
6/11
Transformers and Rectifiers | CMP: Rs 57 | Shares rose over 5 percent after the company bagged a Rs 184-crore order from a central utility. With this order, the company’s order book as of date stands at Rs 1,555 crore.
7/11
Hero MotoCorp | CMP: Rs 2,253 | Shares tumbled more than 2 percent after Kotak Institutional Equities maintained a reduced rating on Hero MotoCorp Ltd and lowered its target price to Rs 2,400 from Rs 2,600 earlier. This can be attributed to the launch of Honda's competitively priced 100cc motorcycle in the entry-level segment, which may result in Hero MotoCorp experiencing a further decline in its market share.
8/11
IndusInd Bank | CMP: Rs 1,033 | Shares gained close to 2 percent after BofA Securities highlighted that the bank was its preferred pick within the midcap space. It has reiterated its Buy rating with a price target of Rs 1,500, implying a potential upside of 50 percent. The brokerage said that the hard part is done for the bank and the results of its work will show up as soon as the next quarter.
9/11
Kalyan Jewellers | CMP: Rs 107.15 | The shares fell over 9 percent on March 28 after a block of 2.7 percent stake in the company changed hands. While buyers and sellers were not known yet, it was reported earlier that Warburg Pincus' Highdell Investments was looking to sell some of its holding. Warburg Pincus had acquired the shares at Rs 50 apiece in one tranche and Rs 56 apiece in another, indicating nearly 100 percent return, according to the company’s DRHP.
10/11
Paytm | CMP: Rs 615 | Paytm shares rose nearly 3 percent to Rs 638 in early trade after the company said that from now on its KYC wallet customers can make payments on every UPI QR code and online merchant where UPI payments are accepted. "If well-received by Paytm wallet users/merchants, this benefit could be significant, given that Paytm Payments Bank is the largest issuer of KYC wallets with over 100 million users," said Morgan Stanley. However, the stock ended in the red.
11/11
Allcargo Logistics | CMP: Rs 352.40 | Shares of Allcargo Logistics closed 2 percent higher after the company said it will buy 30 percent stake (or 1.50 lakh shares) in Gati-Kintetsu Express for Rs 406.71 crore. The Mumbai-based logistics company had received a green signal from the board to acquire a 30 percent stake in Gati Kintetsu Express from its Japanese JV partner Kintetsu World Express (KWE) group. In the JV, the Allcargo group company Gati holds 70 percent stake and KWE holds the remaining 30 percent.
