The key stocks that moved the most on March 2: Market surges today. Nifty above 15000:Sensex -50791
Hero MotoCorp gained 4 percent after the two-wheeler maker reported an increase in total sales during February.
SCI was locked in its 20 percent upper circuit after the government received multiple bids for the privatisation of the company.
BPCL rose over 3 percent after the company’s board approved the sale of its stake in the Numaligarh refinery.
Indian indices ended a percent higher on Tuesday mainly led by gains in auto and IT stocks. Meanwhile, FMCG, Pharma and banking sectors also supported the markets.
The Sensex ended 447 points higher at 50,297 while the Nifty rose 157 points to settle at 14,919. The broader markets were also very positive for the day with the midcap and smallcap indices up 1-2 percent each.
Among sectors, the Nifty Auto index surged over 3 percent on good auto sales numbers for the month of February. The Nifty IT index also rose over 3 percent for the day. Meanwhile, Nifty FMCG and Nifty Pharma added over a percent each.
Here are the key stocks that moved today:
The share price of state-run Bharat Petroleum Corporation (BPCL) rose over 3 percent after the company’s board approved the sale of its stake in the Numaligarh refinery. The company will offload a 61.65 percent stake in the refinery for Rs 9,875 crore as a part of the privatisation process. Of that, a consortium of Oil India and Engineers India will acquire 49 percent of the stake and the rest 13.65 percent will be sold to the Assam government, the company said in a BSE filing.
Shipping Corporation of India
The share price of Shipping Corporation of India (SCI) was locked in its 20 percent upper circuit at Rs 124.40 per share on the BSE after the government received multiple bids for the privatisation of the company. Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey announced in a tweet that the government has received multiple bids for the company. “Multiple Expressions of Interest have been received for privatisation of Shipping Corporation of India Limited. The transaction will now move to the second stage,” Pandey tweeted. DIPAM, in December, had invited expressions of interest (EoI) for strategic disinvestment of its entire stake of 63.75 percent in the firm along with the transfer of management.
The share price of Hero MotoCorp gained 4 percent after the two-wheeler maker reported an increase in total sales during February. On BSE, the stock jumped 3.41 percent to Rs 3,464.20. The world’s largest manufacturer of two-wheelers reported a 1.5 percent YoY jump in its sales – from some 4.98 lakh in Feb 2020 to over 5.05 lakhs in Feb 2021. Its domestic sales rose some 0.9 percent – from 4.80 lakh units to 4.84 lakh units. “The growth in sales, despite the ongoing challenges on account of supply chain issues that the industry is facing, has been possible due to the state of preparedness and quick countermeasures taken by the company,” an exchange filing said.
Shares of Tata Motors added over 5 percent after the company’s sales growth in the month of February outperformed sector peers across domestic commercial vehicle (CV) & passenger vehicle (PV) segments. The Tata group company reported a strong 54 percent year-on-year (YoY) growth in domestic sales at 58,473 units in the month of February 2021. It retained the positive momentum in the passenger vehicle (PV) segment and reported 119 percent year-on-year (YoY) jumped at 27,225 units. The February sales have been the highest-ever sales for Tata Motors PV in nearly 9 years (107 months), the firm said.
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