Benchmark indices ended lower for the second consecutive session on March 10 with Nifty around 17,400. At close, the Sensex was down 671.15 points or 1.12 percent at 59,135.13, and the Nifty was down 176.70 points or 1 percent at 17,412.90.
2/11
Vedanta | CMP: Rs 279.80 | The share price shed 2 percent after rating agency Moody's Investor Service downgraded the corporate family rating (CFR) of Vedanta Resources to Caa1 from B3 earlier over increasing refinancing risks in debt maturities. Moody's has also maintained its negative outlook.
3/11
Welspun Corp | CMP: Rs 211.40 | The stock price ended in the green after Welspun DI Pipes, a wholly- owned subsidiary of Welspun Corp received the 'Kitemark' certificate for the size range of 100 to 1,000 DN against EN 545 and ISO 2531 standards. These are the international standards for ductile iron pipes used for the transportation of potable water. This has wide acceptance in Commonwealth countries and, in general, many other countries in South East Asia, the Middle East, Africa and Europe.
4/11
Mahanagar Gas | CMP: Rs 989.25 | The stock price ended in the red amid weak market conditions. Mahanagar Gas has announced the acquisition of city gas distribution company Unison Enviro for Rs 531 crore. Even as the buyout has enhanced the long-term growth outlook of Mahanagar Gas, some analysts are wary of the acquisition impacting earnings in the near term. Citi which has a ‘buy’ call on Mahanagar Gas shares, believes that the acquisition has the potential to improve the long-term growth outlook of the natural gas distribution company and is now the brokerage firm’s preferred city gas distribution company followed by Indraprastha Gas Ltd.
5/11
Dredging Corporation | CMP: Rs 343.70 | The scrip ended in the green after the firm bagged an order from The Southern Naval Command Kochi. The job includes annual dredging of 1.5 million cubic metres approximately at the Naval Channel in Ernakulam, Kochi, at an estimated cost of Rs 64 crore for 2022-23, the company said in a regulatory filing. This order will help the company in achieving its aim of clocking the highest ever turnover of Rs 1,000 crore for FY23, Dredging Corporation added.
6/11
NBCC (India) | CMP: Rs 37.80 | The share price added 2 percent after the company bagged orders worth Rs 230 crore. The central public sector enterprise under the Ministry of Housing and Urban Affairs received work orders worth Rs 229.81 crore, from the Indian Institute of Foreign Trade. The civil construction company will construct a new campus for IIFT in Kakinada, the company said in an exchange filing.
7/11
Hind Rectifiers | CMP: Rs 215 | The scrip jumped over 9 percent after the company kicked off commercial production at its manufacturing plant in Sinnar, Maharashtra. The company, which manufactures rectifier equipment and semi-conductor devices, has built around 12,900 square metres area at the Sinnar plant. The benefits of these new production lines at Sinnar will start yielding from 2023-24 onwards, the company said in an exchange filing.
8/11
PNC Infratech | CMP: Rs 290.45 | The stock price ended in the green after the company announced it has been declared as the lowest bidder for two highway projects of the National Highways Authority of India (NHAI) with an aggregate bid project cost of Rs 2,004.43 crore. The first project which is worth Rs 891 crore is for the construction of a six-lane greenfield Varanasi-Ranchi-Kolkata highway from the junction with Chandauli-Chainpur road to the Junction with Bhabhua-Adhaura road for 27 km length. The other project worth Rs 1,113.43 crore is for the construction of a six-lane greenfield Varanasi-Ranchi-Kolkata highway from the junction with Bhabhua-Adhaura road to Konki village for 36 km length.
9/11
Glenmark Life Sciences | CMP: Rs 393.50 | The scrip ended in the green, up almost 2 percent on March 10 after the company said that the board members of the firm are scheduled to meet on March 16 to consider and declare payment of interim dividend, if any, for the financial year 2022-23. The trading window will remain closed from March 10 - March 18, 2023, for the interim dividend.
10/11
Home First Finance | CMP: Rs 676.10 | The share ended in the red after Bessemer India Capital Holdings II Limited offloaded 68.11 lakh shares at an average price of Rs 686.07 per share. However, Fidelity Funds - Asian Smaller Companies Pool purchased 4.93 lakh shares in Home First Finance Company India via open market transactions, and The Nomura Trust and Banking Co Ltd as The Trustee of Nomura Indian Stock Mother Fund bought 7 lakh shares at an average price of Rs 685 per share.
11/11
Thermax | CMP: Rs 2,188 | The scrip ended in the green after Thermax and Fortescue Future Industries (FFI), an Australia-based green energy and green technology company, signed a Memorandum of Understanding (MoU) to explore green hydrogen projects – including new manufacturing facilities – in India. Under the MoU, Thermax and FFI plan to explore opportunities to jointly develop fully integrated green hydrogen projects for commercial and industrial customers in India.
