Market Highlights

---

Get the latest Indian stock / share market highlights, BSE/NSE stock news, business research reports & details - updated daily by Money Times.

---

March 26, 2024

• *India Daybook – Stocks in News*
• *Uno Minda:* Company signs TLA with starcharge Energy Pte to manufacture & sale Electric Vehicle Supply Equipment (EVSE) in India. (Positive)
• *Zydus Lifesciences:* Company gets tentative U.S. FDA approval for Letermovir Tablets. (Positive)
• *Puravankara:* Company launched a residential project ‘Purva Kensho Hills’ in Bengaluru, Karnataka. (Positive)
• *Bajaj Auto:* Company to launch CNG-run motorcycle in June 2024 (Positive)
• *RVNL:* Company signs MoU with Airports Authority of India for a project worth ₹229.43 crore (Positive)
• *Muthoot fin:* Company has acquired an additional 4.48% equity stake in Belstar Microfinance Limited, a subsidiary, for Rs.300 crores. (Positive)
• *JSW Energy:* Company’s arm signs Business Transfer Agreement with Reliance Power for purchase of the 45 MW Vashpet Wind project for ₹132 Cr (Positive)
• *Hindustan Aeronautics:* Compay signs contract with Guyana Defence Force for supply of 2 Hindustan-228 Commuter Aircraft with value of approx ₹194 Cr (Positive)
• *Greaves Cotton:* Company has signed a Technology Transfer and Supply Agreement with Tsuyo Manufacturing Private Limited for low-speed 3-wheeler vehicles. (Positive)
• *Ultratech Cement:* Company commissions 1 MTPA brownfield cement capacity at Roorkee, Uttarakhand. (Positive)
• *Dr Reddy’s:* Company enters into licensing agreement with Pharmazz, inc to market Centhaquine in India. (Positive)
• *Indian Metals & Ferro Alloys:* Company to consider special dividend for FY24 on March 29. (Positive)
• *HG Infra:* Company gets LoA in consortium with Stockwell Solar Services from Jodhpur Vidyut Vitran Nigam for solar business. (Positive)
• *Hinduja Global:* Company enters into agreement to sell optical fibre assets to IndusInd Media and Communications for Rs 208.04 crore. (Positive)
• *Shree Cement:* Company announces entry into ready mix concrete segment with commissioning of its first Greenfield in Hyderabad. (Positive)
• *NBCC:* Company sold commercial inventory having sale value of Rs 1,905 cr to private entities (Positive)
• *KP Energy:* Company has commissioned a 16.8MW ISTS connected Wind Power Project at Sidhpur site in Devbhoomi Dwarka (Positive)
• *NTPC:* Company announces the commercial operation date of the Chatti Bariatu Coal Mining Project in Jharkhand (Positive)
• *AGSTRA:* Company has informed about the approval of a demerger scheme involving India Transact Services Limited. (Positive)
• *Jindal Stainless:* Company has teamed up with IIT Kharagpur for R&D projects to advance metallurgical research. (Positive)
• *Electronics Mart:* Commences commercial operations of multi-brand stores under brand name ‘Bajaj Electronics’ in Hyderabad. (Positive)
• *Kirloskar Ferrous:* Step-down unit in U.S.A Indian Seamless applies for voluntary dissolution. (Positive)
• *Bajaj Auto:* Company to launch the company's biggest Pulsar ever on May 3, 2024. The co will launch the CNG motorcycle on June 18: Sources. (Positive)
• *Vedanta:* Company touts $6 billion investment pipeline as growth driver (Positive)
• *Oil Upstream stocks:* Brent crude rose toward $86 a barrel after retreating by more than 2% (Positive)
• *RailTel:* Company has secured a major order from Centre For Development Of Advanced Computing for VMWare virtualization licenses with 3 years support, amounting to Rs. 36.35 Cr. (Positive)
• *Vikas Lifecare:* Co-Promoter Vikas Garg Acquires 3 Cr Equity Shares through Preferential Allotment (Positive)
• *Bharti Airtel:* Bharti Hexacom files for IPO, having OFS of up to 7.5 crore shares. (Positive)
• *Ambuja Cements:* Company sells 2% stake in Sanghi Industries to meet minimum public shareholding. (Neutral)
• *Lupin:* Company to carve out trade generics biz in India on a slump sale basis to Lupin Life Sciences for ₹100-120 crore (Neutral)
• *Reliance Industries:* Company to buy 100% stake in MSKVY Nineteenth Solar SPV & MSKVY Twenty-Second Solar SPV from MSEB Solar Agro Power. (Neutral)
• *Maruti Suzuki:* Company recalls 11,851 units of Baleno & 4,190 units of WagonR on possible defect in a part of fuel pump motor: (Neutral)
• *Eicher Motors:* Company incorporates wholly-owned subsidiary ‘Royal Enfield Europe B.V.’ in the Netherlands (Neutral)
• *Schaeffler:* Company re-appoints Harsha Kadam as Co’s MD & CEO for three years. (Neutral)
• *Mankind Pharma:* Company is likely to see a change of hands for 2.9% equity. (Neutral)
• *Vedanta:* SAT grants stay to effect of SEBI order on paying outstanding dividend. (Neutral)
• *Bharti Airtel:* Company gets fine worth Rs 114 crore from Gurugram Tax Authority for alleged inadequate payment of tax. (Neutral)
• *Adani Ports:* Company acquires 95% stake in Gopalpur Ports for enterprise value of ₹3,080 crore (Neutral)
• *Welspun Corp:* Company has announced the cancellation of a SAR 153 million contract with EPIC, Saudi Arabia's top HSAW Pipes manufacturer. Saudi Arabia Associate co of Welspun Corp bags project worth ₹512 cr for manufacture & supply of steel pipes (Neutral)
• *Fortis Healthcare:* Subsidiary receives tax demand of Rs 89.53 crore. (Negative)
• *Exide:* Subsidiary Chloride Metals faces ₹133-crore income tax demand for FY22-23 (Negative)
• *Paradeep Phosphates:* Company has received a closure notice from the Central Pollution Control Board due to non-compliance with Odisha State Pollution Control Board's conditions. (Negative)
• *PayTM:* Praveen Sharma resigns from the post of SVP - Business of One 97 Communications (Negative)
• *Adani Power:* MSEDCL files petition with Maharashtra Electricity Regulatory Commission on calculating in-land coal transportation cost. (Negative)
• Stock to watch
• 1) GNFC is on the verge of a falling trendline breakout on the daily chart. The stock has bounced from its multiple support of 590 mark. Momentum indicator RSI is positive on the daily chart. Therefore, the stock looks good in the range of 624 to 610 and can test 720 support is at 559. Long term view.
• 2) NESTLE INDIA is on the verge of a Cup and Handle breakout on the daily charts. The stock has bounced from its 100-day EMA and has formed a Hammer with strong volumes on the weekly charts. Momentum indicator RSI is positive on the daily charts. Therefore, the stock looks good in the range of 2573 to 2565 and can test 2771 support at 2466. Positional view.
• 3) FINOLEX IND is hovering in a Rising channel on the daily charts. The stock has formed an Engulfing Bullish on the weekly charts and also it stood firm in the recent selloff. The momentum indicator RSI is positive on the daily charts. Therefore, the stock looks good on dips to 225 and can test 260 support at 203. Positional view
• 4) PTC INDIA has seen a pullback after a Multi-year breakout on the daily charts. The stock has bounced just above its 100-day EMA and it has formed a long legged Doji on the weekly charts. The momentum indicator RSI is positive on the daily chart. Therefore, the stock looks good on dips to 175 can test 227 support is at 159. long-term view
• 5) MOTHERSON WIRING has seen a sharp pullback after a Cup and Handle breakout on the daily charts. The stock has bounced from the support of 60 forming a Harami candle on the weekly chart. Momentum Indicator RSI is positive on the daily charts. Therefore, the stock looks good on dips to 63 can test 75 support is at 57. Positional view.
• This list of stocks is only for educational purposes. Please consult your financial advisor before investing/trading.