Stocks to watch on March 17th: SBI, BPCL, Gland Pharma, Tech Mahindra

Stocks to watch on March 17th: On Wednesday, both Sensex and Nifty continue their bearish trend in the stock market from the last three sessions of the market. The Sensex is trading below 49,800 levels and nifty trading below 14,750 levels in the stock market. The Sensex lost 610.60 points with a 1.20% decrease and reached 49,761.06 levels. While the nifty gained 202.65 points with a 1.36% decrease and reached 14,707.90 levels.

On the other side, the number of coronavirus cases in India on Wednesday, March 17th reached 1,14,38,734 with almost 1,59,044 deaths.

State Bank of India: On Tuesday, the Reserve Bank of India (RBI) imposed a penalty of Rs. 2 crores against non-compliance with regulations in payments of remuneration to its employees via commissions.

However, the shares of the State Bank of India (SBI) on Wednesday reported a bearish trend in the stock market. It lost 7.85 points with a 2.07% decrease and reached 370.80 INR. While in BSE, the company lost 7.50 points with a 1.98% decrease and reached 370.90 INR.

SBI Cards & Payment Services Limited: On Wednesday, the Carlyle Group sold its stakes in the company worth Rs. 3,730 crores via block deal. The American private equity firm holds almost 15.86% stakes in the company. 

However, the shares of SBI Cards & Payment Services Limited on Wednesday reported a bearish trend in the stock market. It lost 38.10 points with a 3.73% decrease and reached 984.00 INR. While in BSE, the company lost 38.40 points with a 3.76% decrease and reached 983.45 INR.

Bharat Petroleum Corporation Limited: The state-owned company declared the second interim dividend of Rs. 5 per equity share for the financial year 2021-22. Whereas the record date for the dividend fixed as March 27th. 

However, the shares of Bharat Petroleum Corporation Limited on Wednesday reported a bearish trend in the stock market. It lost 20.55 points with a 4.54% decrease and reached 433.25 INR. While in BSE, the company lost 20.55 points with a 4.53% decrease and reached 433.25 INR.

Gland Pharma Limited: The company decided to produce 252 million doses of Russian Direct Investment Fund’s (RDIF) Sputnik V covid-19 at its Hyderabad facility. 

However, the shares of Gland Pharma Limited on Wednesday reported a bearish trend in the stock market. It lost 169.85 points with a 6.26% decrease and reached 2,547.00 INR. While in BSE, the company lost 169.70 points with a 6.24% decrease and reached 2,548.95 INR.

Airline Stocks: On Tuesday, the Oil marketing companies increased their prices on aviation turbine fuel (ATF) by almost 8% MoM. On the other side, the Jet fuel prices increased almost 18% since January 1st, 2021.

However, the shares of Interglobe Aviation Limited on Wednesday reported a bullish trend in the stock market. It gained 12.90 points with a 0.77% increase and reached 1,695.45 INR. While in BSE, the company gained 12.05 points with a 0.72% increase and reached 1,694.65 INR.

The shares of Interglobe Aviation Limited on Wednesday reported a bearish trend in the stock market. It lost 0.55 points with a 0.69% decrease and reached 78.60 INR. While in BSE, the company lost 0.55 points with a 0.70% decrease and reached 78.55 INR.

Shriram City Union Finance Limited: The security committee on Tuesday has appointed the issue of secured redeemable principal-protected market linked (PP-MLD) non-convertible debentures worth Rs 500 crores with a face value of 10,00,000 each.

However, the shares of Shriram City Union Finance Limited on Wednesday reported a bearish trend in the stock market. It lost 3.40 points with a 0.23% decrease and reached 1,493.10 INR. While in BSE, the company lost 4.60 points with a 0.31% decrease and reached 1,492.55 INR.

Godrej Properties Limited: The company raised almost Rs. 3,750 crores via the qualified institutional placement (QIP). Whereas the company alloted equity shares for Rs. 1,450 per each. The QIP of the company launched on March 9th and closed at March 15th.

However, the shares of Godrej Properties Limited on Wednesday reported a bearish trend in the stock market. It lost 32.10 points with a 2.23% decrease and reached 1,389.60 INR. While in BSE, the company lost 30.70 points with a 2.16% decrease and reached 1,385.10 INR.

Tech Mahindra Limited: The company acquired almost 70% stakes in Ireland-based Perigord Asset Holdings Limited. The total transaction for the deal stood at $21 million.

However, the shares of Tech Mahindra Limited on Wednesday reported a bearish trend in the stock market. It lost 7.65 points with a 0.75% decrease and reached 1,019.50 INR. While in BSE, the company lost 8.70 points with a 0.85% decrease and reached 1,019.30 INR.

Top Gainers on March 17th: ITC and Infosys are only top gainers in today’s stock market.

Top Losers on March 17th: BPCL, ONGC, Tata Motors, Adani Ports, and Coal India are the top losers in today’s stock market.