Page 190 - Market Trends
HDFC AMC gains 5% after SBI MF bought over 2% stake via open market
GQG Partners Emerging Markets Equity Fund sold 2.48 million shares in HDFC AMC worth Rs 396.83 crore.
 "HDFC AMC gains 5% after SBI MF bought over 2% stake via open market")
Sterling & Wilson jumps 9% as it emerges bidder for Rs 2,100 cr project
The balance of system (BOS) package comprising of four blocks of 300 MW each in the proposed 1200MW Solar PV Project of NTPC Renewable Energy at Khavda RE Power Park, Rann of Kutch.
 "Sterling & Wilson jumps 9% as it emerges bidder for Rs 2,100 cr project")
Hariom Pipe hits new high, up 4% on shareholders nod for preferential issue
In past three months, the stock has zoomed nearly 50 per cent, as compared to 5 per cent decline in the S&P BSE Sensex.
 "Hariom Pipe hits new high, up 4% on shareholders nod for preferential issue")
UTI AMC surges 8% after PPFAS MF buys 1.1 million shares via block deal
PPFAS Mutual Fund purchased 1.12 million equity shares representing 0.88 per cent stake in UTI AMC for Rs 71.40 crore.
 "UTI AMC surges 8% after PPFAS MF buys 1.1 million shares via block deal")
Banking crisis triggers oil price fall; temporary phenomenon, say analysts
Crude Oil prices declined by 10 per cent in the last 7 days - from $80.6 per barrel (Brent oil) on March 13
 "Banking crisis triggers oil price fall; temporary phenomenon, say analysts")
Will the markets regain lost glory in March despite volatility?
Despite high volatility in the months of March the Nifty has ended higher in five of the last seven occasions.
 "Will the markets regain lost glory in March despite volatility?")
Sensex crashes over 900pts intra-day: 5 factors behind Monday's market rout
Analysts attribute fallout in domestic equities due to investors' fear of a domino effect after the collapse of big financial institutions in the US, and Europe
 "Sensex crashes over 900pts intra-day: 5 factors behind Monday's market rout")
Adani Green trades firm in weak market; stock zooms 94% in 13 days
On March 2, 2023, GQG Partners, a leading US based Global Equity investment boutique, purchased 55.6 million equity shares of AGEL for Rs 2,806 crore at price of Rs 504.60 per share.
 "Adani Green trades firm in weak market; stock zooms 94% in 13 days")
Reliance, Wipro, Jubilant FoodWorks, Crompton Greaves hit 52-week lows
Max Financial, Mphasis, Emami, HDFC AMC, Pfizer, Network18, Godrej Agrovet, Laurus Labs and Motilal Oswal Financial were among 34 stocks from the S&P BSE 500 index hit their respective 52-week lows.
 "Reliance, Wipro, Jubilant FoodWorks, Crompton Greaves hit 52-week lows")
Tata Consumer dips 2% after withdrawing plans to acquire Bisleri
The company said no definitive agreement or binding commitment has been signed on this matter.
 "Tata Consumer dips 2% after withdrawing plans to acquire Bisleri")
Sunflag Iron up 15% in two days on acquiring 11.89% stake in Lloyds Metals
LMEL on March 16, converted and allotted the 0% 60 million OFCD's in to 60 million equity shares, representing 11.89% in the total voting equity share capital of LMEL to Sunflag Iron.
 "Sunflag Iron up 15% in two days on acquiring 11.89% stake in Lloyds Metals")
Cochin Shipyard gains 7% in weak market on winning Rs 550 cr overseas order
The company has received an order of Rs 550 crore from Norway-based global logistics solution provider Samskip Group.
 "Cochin Shipyard gains 7% in weak market on winning Rs 550 cr overseas order")
Nifty Realty index gains 3%; DLF, Prestige Estates, Lodha surge up to 5%
In past 2 days, DLF surged 9 per cent after the company said it has sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within 3 days.
 "Nifty Realty index gains 3%; DLF, Prestige Estates, Lodha surge up to 5%")
BPCL, HPCL, IOC: Brent crude fall may trigger short-term rally in OMCs
BPCL, HPCL and IOC may rise up to 11 per cent in coming sessions, and if they manage to sustain their upward rally, medium-term bias may strongly shift in bull's favour.
 "BPCL, HPCL, IOC: Brent crude fall may trigger short-term rally in OMCs")
Eris down 4% in 2 days post acquisition of 9 derma brands from Dr Reddy's
Eris Life said that the transaction would help augment and expand cosmetic dermatology business of the company through their product offerings
 "Eris down 4% in 2 days post acquisition of 9 derma brands from Dr Reddy's")
Sterling Tools hits 5-year high, surges 10% on strong business outlook
EV penetration in 2W and 3W is expected to increase at a fast rate over the next few years which augurs well for the company's growth.
 "Sterling Tools hits 5-year high, surges 10% on strong business outlook")
TCS down 1%, hits 4-month low day after CEO & MD Rajesh Gopinathan resigns
The board has nominated K Krithivasan as CEO designate with effect from March 16, 2023.
 "TCS down 1%, hits 4-month low day after CEO & MD Rajesh Gopinathan resigns")
FMCG, select banks help Sensex, Nifty snap 5-day losing streak; Metals dip
CLOSING BELL: Nestle, Titan, Hindustan Unilever and Asian Paints were the major gainers among the Sensex-30 pack; while Tata Steel, IndusInd Bank and Bharti Airtel were the top losers.
 "FMCG, select banks help Sensex, Nifty snap 5-day losing streak; Metals dip")
Wipro hits 52-week low amid revenue growth worries; down 38% in one year
The growth could be a challenge in Q1FY24, too, not just because of the cautious customer behavior but also due to the added issue of productivity concessions kicking in, says Nirmal Bang in a note.
 "Wipro hits 52-week low amid revenue growth worries; down 38% in one year")
OMCs in focus as crude oil hits 1-year low; BPCL, HPCL surge up to 5%
With this decline in crude prices analysts expect marketing margins of HPCL, BPCL and IOCL to improve further.
 "OMCs in focus as crude oil hits 1-year low; BPCL, HPCL surge up to 5%")