Indian benchmark indices ended lower on March 9 with Nifty around 17,600. At close, the Sensex was down 541.81 points or 0.90% at 59,806.28, and the Nifty was down 164.80 points or 0.93% at 17,589.60.

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Indian benchmark indices ended lower on March 9 with Nifty around 17,600. At close, the Sensex was down 541.81 points or 0.90 percent at 59,806.28, while the Nifty shed 164.80 points or 0.93 percent to 17,589.60.

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Bharti Airtel | CMP: Rs 772.50 | The stock ended in the green on March 9. CLSA has maintained a buy call on Bharti Airtel's stock and expects the price to reach Rs 1,015 per share, indicating an upside of more than 31 percent from the current market price. The research firm believes the recent tariff hikes, which came 14 months before the general elections, can boost the average revenue per user (ARPU) by 3 percent. CLSA has forecast consolidated/India mobile earnings before interest, taxes, depreciation, and amortisation (EBITDA) compound annual growth rate (CAGR) of 15/23 percent to FY25.

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JSW Steel | CMP: Rs 678.25 | The scrip ended in the green on March 9 after JSW Steel reported standalone crude steel production for the month of February 2023 at 17.32 lakh tonne, a growth of 10 percent YoY on a standalone basis. The company achieved crude steel production of 15.80 lakh tonne in February 2022. The production of flat steel rolled products rose 9 percent to 12.57 lakh tonne while production of long steel rolled products rose 2 percent to 3.75 lakh tonne in February 2023 over February 2022.

Mahindra And Mahindra | CMP: Rs 1,245.15 | The share price declined over 3 percent after Motilal Oswal in its analysis lowered FY24 EPS outlook by 8 percent. It has cut its FY24 EPS by 8 percent to factor in lower tractor and sports utility vehicle (SUV) volumes growth, and the adverse impact of losses from new businesses. Motilal Oswal however has maintained its 'buy' call on the stock and expects a compounded average growth rate of 20 percent in EPS and 2pp RoCE improvement over FY23-25, along with cheap valuations. It expects M&M to reach a target price of Rs 1,525 per share.

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Mahindra And Mahindra | CMP: Rs 1,245.15 | The share price declined over 3 percent after Motilal Oswal in its analysis lowered the FY24 EPS outlook by 8 percent. It has cut its FY24 EPS by 8 percent to factor in lower tractor and sports utility vehicle (SUV) volume growth and the adverse impact of losses from new businesses. Motilal Oswal; however, has maintained its 'buy' call on the stock and expects a compounded average growth rate of 20 percent in EPS and 2pp RoCE improvement over FY23-25, along with cheap valuations. It expects M&M to reach a target price of Rs 1,525 per share.

RITES | CMP: Rs 369.50 | The stock price jumped over 5 percent on March 9. The stock has formed long bullish candlestick pattern on the daily charts, with above-average volumes and made a higher-high-higher-low formation. Experts expect the stock to surpass the Rs 400 level soon and advised accumulating and holding it for higher targets.

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RITES | CMP: Rs 369.50 | The stock price jumped over 5 percent on March 9. The stock has formed a long bullish candlestick pattern on the daily charts, with above-average volumes and made a higher-high-higher-low formation. Experts expect the stock to surpass the Rs 400 level soon and advised accumulating and holding it for higher targets.

Religare Enterprises | CMP: Rs 157.45 | The share price added over 2 percent after the company's subsidiary completed one-time-settlement (OTS) with its lenders. Religare Enterprises' (REL) wholly-owned subsidiary Religare Finvest Limited (RFL), has completed the one-time-settlement (OTS) with 16 lenders on 8th March 2023 by making a full and final payment of Rs 400 crores well in advance of the three-month deadline as per the settlement agreement with the lenders dated 30th December 2022, company said in its release.

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Religare Enterprises | CMP: Rs 157.45 | The stock added over 2 percent after the company's subsidiary completed a one-time-settlement (OTS) with its lenders. Religare Enterprises' (REL) wholly-owned subsidiary Religare Finvest Limited (RFL), has completed the one-time-settlement (OTS) with 16 lenders on March 8, 2023 by making a full and final payment of Rs 400 crore well in advance of the three-month deadline as per the settlement agreement with the lenders dated December 30, 2022, the company said in its release.

SeQuent Scientific | CMP: Rs 74.80 | The scrip surged 20 percent on March 9. The company announced that it has called off the acquisition bid for Tineta Pharma. The company had announced last November that it had entered into a share purchase agreement to acquire a 100 percent stake in Tineta from its promoters. The transaction contemplated under the share purchase agreement, however, failed to materialise and hence, SeQuent will no longer acquire Tineta Pharma, according to an exchange filing on Wednesday.

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SeQuent Scientific | CMP: Rs 74.80 | The scrip surged 20 percent on March 9. The company announced it has called off the acquisition bid for Tineta Pharma. The company had announced last November that it had entered into a share purchase agreement to acquire a 100 percent stake in Tineta from its promoters. The transaction was contemplated under the share purchase agreement; however, it failed to materialise.

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PSP Projects | CMP: Rs 711.85 | The stock price gained 3 percent after the firm received multiple work orders amounting to Rs 123.38 crore. The Ahmedabad-based construction company announced on Thursday, March 9, that it has won work orders in the institutional, industrial and residential categories from domestic entities, and the projects are worth Rs 123.38 crore.

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HFCL | CMP: Rs 68.75 | The stock ended in the green after the company collaborated with Microsoft to create converged private 5G solutions that harness new-age technologies of IoT, Cloud, Edge Computing, AI and Analytics to transform industry verticals that include manufacturing, retail & warehouse, mining, education, defence, railways, smart city, etc.

G R Infraprojects | CMP: Rs 1,056 | The share price added over 2 percent after the firm emerged as L‐1 bidder in Financial Bid Opening dated 9th March 2023 for the tender invited by National Highways Authority of India for “Construction of 6‐lane Greenfield Varanasi‐Ranchi‐Kolkata Highway from Anarbansalea village to Sagrampur village under Bharatmala Pariyojana in the state of Bihar on Hybrid Annuity Mode.

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GR Infraprojects | CMP: Rs 1,056 | The share price added over 2 percent after the firm emerged as an L‐1 bidder in the Financial Bid Opening dated March 9, 2023, for the tender invited by National Highways Authority of India for “Construction of 6‐lane Greenfield Varanasi‐Ranchi‐Kolkata Highway from Anarbansalea village to Sagrampur village under Bharatmala Pariyojana in Bihar on Hybrid Annuity Mode.

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Data Patterns | CMP: Rs 1,320 | The scrip rose over 2 percent on March 9. Data Patterns launched a Qualified Institutional Placement (QIP) to raise funds. The company intends to raise Rs 450 crore through the QIP route with an upsize option of up to Rs 500 crore, sources told CNBC-TV18.

Gainers & Losers: 10 stocks that moved the most on March 9

FMCG, Realty, auto and IT were down 1 percent each, while buying was seen in the metal and power names. The BSE midcap index shed 0.55 while the smallcap index fell 0.2 percent.