Indian indices ended over 1.5 percent higher on Monday, recovering from a 3 percent decline in the previous session, as bond markets calm triggering a rally in the global peers. The gains in the domestic indices were led by a broad-based rally across sectors. Auto, energy and financial sectors contributed the most to the rise.
The Sensex ended 750 points higher at 49,850 while the Nifty rose 230 points to settle at 14,761. Broader markets also surged during the day with the midcap and smallcap indices up around 2 percent each.
Here are the key stocks that moved today:
Bharti Airtel: Shares of Bharti Airtel fell over 4 percent, in an otherwise strong market, after Integrated Core Strategies (Asia) Pte sold around 3.7 crore shares of the company. The sentiment was also lower after its competitor Reliance Jio launched JioPhone 2021 on Sunday. However, global brokerage firm Credit Suisse said Jio's 4G feature phone plan was unlikely to have any material impact on Bharti Airtel. The telecom major further announced that it will seek shareholders' nod on March 19 for issuance of about 3.64 crore equity shares to Lion Meadow Investment Ltd (LMIL) on a preferential basis to execute its deal for buying an additional 20 percent stake in its DTH arm Bharti Telemedia, according to a regulatory filing.
Indian Oil: Shares of Indian Oil Corporation Ltd (IOC) rose 3 percent after the downstream company said it will expand Panipat refinery capacity to 25 million tonnes per year from 15 million tonnes per year earlier. In an exchange filing on Friday, the state-owned refiner said that its board approved capital investment for capacity expansion of Panipat Refinery from 15 MMTPA to 25 MMTPA along with the installation of Polypropylene Unit and Catalytic Dewaxing Unit at an estimated cost of Rs 32,946 crore.
ONGC: Shares of ONGC jumped 5.5 percent as the crude oil prices rose more than $1 on Monday on optimism in the global economy thanks to progress in a huge U.S. stimulus package and on hopes for improving oil demand as vaccines are rolled out.
RailTel: Shares of RailTel Corporation were locked in 20 percent upper circuit of Rs 145.65 per share on BSE after the institutional investors bought a stake in the company via open market on its debut day on Friday. The stock of the state-owned telecom infrastructure provider made a strong debut on the bourses as it got listed at a 28 percent premium at Rs 120.60. With today’s rally, it has zoomed 52 percent from its issue price of Rs 94.
TVS Motor Company: TVS Motor Company share price added over 3.5 percent after the company reported an 18 percent increase in sales at 2,97,747 units in February 2021 against 253,261 units in the year-ago period. Its two-wheeler sales grew by 21 percent at 2,84,581 units in February 2021 as against 2,35,891 units in February 2020, the company said in a release.
(Edited by : Pranati Deva)