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    Here are key stocks that moved the most on March 16

    Here are key stocks that moved the most on March 16

    Here are key stocks that moved the most on March 16
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    By CNBCTV18.com  IST (Updated)

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    The Sensex ended 31 points lower at 50,363 while the Nifty fell 19 points to settle at 14,910.

    Indian indices ended on a flat note but in the red on Tuesday as gains in IT and FMCG stocks were capped by losses in metals and banks. The Sensex ended 31 points lower at 50,363 while the Nifty fell 19 points to settle at 14,910.
    Broader markets, however, outperformed benchmarks with the midcap and smallcap indices up 0.3-0.4 percent each.
    Here are the key stocks that moved today:
    Tata Communications: The share price of Tata Communications fell 7 percent after the government announced that it is selling its stake in the company at a discount to the current prices. The offer for sale to sell the government's stake in the firm opened for non-retail investors on Tuesday. It will open for retail investors on Wednesday. The government on Monday said it will sell up to a 16.12 percent stake in Tata Communications Ltd. through an offer for sale starting today.
    The government holds a 26.12 percent stake in the company. The floor price has been set at Rs 1,161, a 9.8 percent discount to Monday's closing price and the sale of a 16.12 percent stake could fetch the government around Rs 5,334 crore. The government will sell 2.85 crore shares or 10 percent stake held in erstwhile VSNL, with an option to sell an additional 1.74 crore shares or 6.12 percent stake as a greenshoe option.
    AU Small Finance Bank: AU Small Finance Bank's share price gained 3 percent after the company said that it has raised Rs 625.50 crore through sale of shares to institutional investors. The issue was opened on March 9 with a floor price of Rs 1,181.06 and closed on March 15. Pursuant to the allotment of equity shares in the issue, the paid-up equity share capital of the bank stands increased from Rs 307,08,99,980 consisting of 30,70,89,998 equity shares to Rs 312,08,99,980 consisting of 31,20,89,998 equity shares, the company said.
    Gland Pharma: Shares of Gland Pharma rose 4.7 percent after the company said that it has entered into an agreement with the Russian Direct Investment Fund (RDIF) to produce and supply up to 25.2 crore doses of the Sputnik V COVID-19 vaccine. Production is expected to begin from the third quarter of this year, Gland Pharma said in a statement, with delivery estimated from the fourth quarter. It did not specify which countries it would supply the doses to.
    Aarti Drugs: Shares of Aarti Drugs were up 3 percent after the company said its board will consider share buyback on Friday, March 19. “A meeting of the board of directors of the company is scheduled to be held on Friday, March 19, 2021, to consider inter alia, proposal of buyback of the fully paid-up equity shares of the Company including matters related/incidental thereto,” Aarti Drug said in an exchange filing.
    Sarda Energy: Sarda Energy & Minerals share price rose over 5 percent after the firm received an environment nod to raise the capacity. The Chhattisgarh Environment Conservation Board, Raipur has granted to the company the “Consent to Operate” the enhanced capacity of its iron ore pellet plant from existing 6,00,000 MTs p.a. to 8,00,000 MTs p.a. with immediate effect.
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