Benchmark indices ended higher for the second consecutive session on March 6 with Nifty above 17,700. At close, the Sensex was up 415.49 points or 0.69% at 60,224.46, and the Nifty was up 117.20 points or 0.67% at 17,711.50.
2/11
Tech Mahindra | CMP: Rs 1,088.25 | The share price managed to close in the green on March 6. Tech Mahindra's new announcements for its products and platforms business have not impressed analysts. Most of the foreign brokerages have not upgraded their rating or target price on the stock. Neither have they cut target prices. Nomura has maintained its Buy rating with a target of Rs 1,260 per share while Morgan Stanley has maintained its Overweight rating with a target of Rs 1,120 per share. CLSA has however given Tech Mahindra an 'underperform' rating with a target of Rs 1,100 per share.
3/11
Bajaj Finserv | CMP: Rs 1,385 | The scrip added 2 percent on March 6. The company said it is pushing ahead with plans to build a financial ecosystem for its customers. A few days ago, the financial services company got the market regulator’s approval to start a mutual-fund business. Analysts sound confident about the company’s various business verticals.
4/11
Hero Motocorp | CMP: Rs 2,481 | The share price ended in the green after the homegrown two-wheeler major said it has signed agreements with the US-based Zero Motorcycles to collaborate on premium electric motorcycles. Hero MotoCorp had in September 2022 approved an equity investment of up to $60 million in Zero Motorcycles, a California-based manufacturer of premium electric motorcycles and powertrains.
5/11
Olectra Greentech | CMP: Rs 536.40 | The stock price gained 3 percent after Evey Trans Private Limited (EVEY) has received two Letter of Awards (LOAs) from Telangana State Road Transport Corporation (TSRTC) for 550 Electric Buses consisting of 500 buses for intra-city and 50 buses for inter-city operations, respectively. EVEY shall procure these buses from Olectra Greentech Limited and which shall be delivered over a eriod of 16 months.
6/11
Power Grid | CMP: Rs 227.25 | The scrip was up over 2 percent after the company announced it has been declared as the successful bidder under Tariff Based Competitive Bidding for two projects. The purpose is to establish Inter-State Transmission System for the two projects on Build, Own Operate and Transfer (BOOT) basis.
7/11
Sonata Software | CMP: Rs 818.70 | The stock rose 3 percent on March 6. Sonata Software on March 6 announced that it has attained all six Microsoft Solutions Partner designations. These designations are anchored on the Microsoft Cloud and aligned to six specific Microsoft solution areas. "Sonata has achieved the Solutions Partner designations in Business Applications, Data & AI (Azure), Digital & App Innovation (Azure), Infrastructure (Azure), Modern Work and Security," the company said in an exchange filing.
8/11
PNC Infratech | CMP: Rs 292.90 | The stock gained over 3 percent after the firm received ‘provisional certificate’ for a project of National Highways Authority of India, implemented by its subsidiary PNC Triveni Sangam Highways, from Independent Engineer (SA Infrastructure Consultants). The project is of 6-laning of the Chakeri to Allahabad section of NH-2 in Uttar Pradesh under NHPD Phase-V on Hybrid Annuity Mode (HAM) for a completed length of 119.788 km out of a total project length of 145.066 km.
9/11
Birlasoft | CMP: Rs 290 | The scrip added over 3 percent after the company announced the opening of a new Delivery Centre in Coimbatore to enable enterprises scale up their delivery and optimize cost. The new facility will focus on Birlasoft’s delivery capabilities in cloud space, digital and testing requirements, company said.
10/11
Manappuram Finance | CMP: Rs 110.30 | The stock jumped 4 percent after SBI Mutual Fund acquired 48 lakh equity shares (over half a percent) in Manappuram Finance via open market transactions at an average price of Rs 106.59 per share.
11/11
Fsn E-Commerce Ventures | CMP: Rs 149.20 | The stock price ended in the red after foreign brokerage firm Macquarie initiated coverage on the BPC (Beauty and Personal Care) platform, Nykaa with an 'underperform' (sell) rating at a target price (TP) of Rs 115 per share, the lowest amongst brokerages. The brokerage said the company faces a risk to its beauty segment margin as growth is now moving towards smaller towns and the offline segment.
