Stocks to watch on March 16th: Adani Ports, Max Healthcare, NIIT, Tata Communications

Stocks to watch on March 16th: On Tuesday, both Sensex and Nifty reported a bullish trend in the stock market after bearish reports in the last two sessions of the market. The Sensex is trading above 50,400 levels and nifty trading above 14,950 levels in the stock market. The Sensex gained 89.77 points with a 0.18% increase and reached 50,487.88 levels. While the nifty gained 34.70 points with a 0.23% increase and reached 14,961.00 levels.

On the other side, the number of coronavirus cases in India on Tuesday, March 16th reached 1,14,09,831 with almost 1,58,856 deaths.

Adani Ports SEZ Limited: On Monday, the company received a letter of intent from Sri Lankan Government for the development and operations in the west container terminal (WCT) of Colombo port, Sri Lanka.

However, the shares of Adani Ports SEZ Limited on Tuesday reported a bearish trend in the stock market. It lost 0.95 points with a 0.13% decrease and reached 718.10 INR. While in BSE, the company lost 0.35 points with a 0.049% decrease and reached 718.65 INR.

Shipping Corporation of India Limited: On Monday, the Life Insurance Corporation of India sold almost 2.01% stakes in the state-owned company via the open market transaction. Whereas LIC reduced its stakes in the company to 8.04% from 10.05% earlier.

However, the shares of Shipping Corporation of India Limited on Tuesday reported a bearish trend in the stock market. It lost 2.65 points with a 2.15% decrease and reached 120.85 INR. While in BSE, the company lost 2.55 points with a 2.06% decrease and reached 120.95 INR.

Tata Communications Limited: The companies offer for sale (OFS) will be open on March 16th. The central gevernment decided to sell 10% stakes in the company along with an additional 6.12% as Green Shoe Option. However, the government holds almost 26.12% stakes in the company. 

However, the shares of Tata Communications Limited on Tuesday reported a bearish trend in the stock market. It lost 42.90 points with a 3.28% decrease and reached 1,251.35 INR. While in BSE, the company lost 44.65 points with a 3.44% decrease and reached 1,252.65 INR.

Adani Green Energy Limited: On Tuesday, the Solar Energy Corporation of India Limited (SECI) declared Adani Renewable Energy as the L1 bidder in the auction for setting up and supply of 1.20 gigawatt (GW) wind power capacity. 

However, the shares of Adani Green Energy Limited on Tuesday reported a bullish trend in the stock market. It gained 19.55 points with a 1.64% increase and reached 1,212.65 INR. While in BSE, the company gained 17.40 points with a 1.45% increase and reached 1,214.75 INR.

Max Healthcare Limited: The company on Monday acquired 42.80% stakes in Saket City Hospitals Limited (SCHL) from Kayak Investment Holdings Private Limited.

However, the shares of Max Healthcare Limited on Tuesday reported a bullish trend in the stock market. It gained 6.40 points with a 3.19% increase and reached 208.85 INR. While in BSE, the company gained 6.55 points with a 3.24% increase and reached 208.60 INR.

AU Small Finance Bank Limited: The board members decided to allot 50,00,000 equity shares with a face value of Rs. 10 each to qualified institutional buyers at an issue price of Rs. 1,251 per equity share. The total equity share allotted to the buyer aggregating to Rs. 625.50 crores.

However, the shares of AU Small Finance Bank Limited on Tuesday reported a bullish trend in the stock market. It gained 31.45 points with a 2.65% increase and reached 1,220.85 INR. While in BSE, the company gained 33.20 points with a 2.80% increase and reached 1,220.45 INR.

Welspun India Limited: The company made a joint venture with Adani Group and subsidiary company Welspun Enterprises. The companies discovered natural gas reserves in the Mumbai coast area. It is a first-ever gas discovery made in the NELP-VII block MB-OSN-2005/2.

However, the shares of Welspun India Limited on Tuesday reported a bearish trend in the stock market. It lost 0.40 points with a 0.48% decrease and reached 83.35 INR. While in BSE, the company lost 0.30 points with a 0.36% decrease and reached 83.45 INR.

NIIT Limited: The subsidiary company NIIT USA made an agreement with a US based financial services organization for providing a range of learning services for 5 years. 

However, the shares of NIIT Limited on Tuesday reported a bearish trend in the stock market. It lost 4.15 points with a 2.23% decrease and reached 182.00 INR. While in BSE, the company lost 4.05 points with a 2.18% decrease and reached 182.15 INR.

Top Gainers on March 16th: Asian Paints, Dr. Reddy’s Laboratories, HCL Technologies, TCS, and Bharti Airtel are the top gainers in today’s stock market.

Top Losers on March 16th: Tata Steel, Cipla, Larsen & Toubro, BPCL, and SBI are the top losers in today’s stock market.