Share Market Highlights 01 March 2024: Sensex gains 1,245 pts, Nifty settles above 22,300 on impressive GDP data, foreign fund inflows

One 97 Communication: The company has likely signed a deal to move its merchant accounts to Yes Bank, NDTV Profit reported exclusively.

* Adani Enterprises:* The company has divested its entire stake in Vizag Tech Park for Rs 151 crore to Adani Infrastructure and Developers.

* Adani Group Stocks:* The group reported a record Ebitda growth of 63.6% year-on-year in Q3 FY24, driven by its core infrastructure business.

* Vedanta:* The company incorporated Hindmetal Exploration Services by Hindustan Zinc, a subsidiary of the company, to explore, discover, develop and tap mineral resources.

* Auto Stocks:* Automakers will announce their February sales figures on Friday. Companies such as TVS Motor, Bajaj Auto, Tata Motors, Maruti Suzuki India and Hero MotoCorp will be in focus.

* CG Power And Industrial Solutions:* The company, in partnership with Renesas Electronics Corp., will make an investment of Rs 7,600 crore to set up a semiconductor unit in Gujarat.

* ICICI Bank:* The company acquired a further stake in ICICI Lombard worth Rs 431 crore. ICICl Lombard is now a subsidiary of the bank.

* Suven Pharmaceuticals:* The company will merge with Cohance Lifesciences. The shareholders of Cohance will receive 11 shares of the merged company for 295 shares of Cohance.

* Biocon:* The company arm signed a licence pact with Janssen Biotech and Johnson & Johnson to commercialise Bmab 1200 in the U.S. The USFDA conducted an inspection at the company’s unit between Feb. 20 and 28 and has Form 483s with four observations.

* Star Cement:* The company received a Letter of Intimation from Coal India on being successful bidders for the procurement of 3.12 lakh metric tonnes of coal per annum for a period of 10 years from the date of entering into fuel supply reements. This is in addition to the existing FSA for subsidiaries.

* Andhra Cements:* Promoter Sagar Cements has sold a 5% stake in the company via an offer for sale.

* Dilip Buildcon:* The company’s unit received an order worth Rs 1,955 crore from the National Highways Authority of India for the construction of the Four-Lane Urga-Patalgaon section in the State of Chhattisgarh.

* Chalet Hotels:* The company approved the acquisition of partners’ shares in Ayushi and Poonam Estates LLP for Rs 315 crore.

* Cantabil Retail India:* The company has opened 13 new showrooms in India during the month of February. The total number of showrooms now stands at 529.

* Hester Biosciences:* Sanjay Dalal, the chief operating officer, has stepped down from his current role.

Avantel: The company has received a purchase order worth Rs 5.48 crore from Garden Reach

Shipbuilders.

* Landmark Cars:* The company received a letter of intent from MG Motor India for opening a dealership in Ujjain, Madhya Pradesh.

* Aurobindo Pharma:* The U.S. FDA completed an inspection at the company’s unit between Feb. 19

and 29 with seven observations.

* Delta Corp:* The company incorporated Delta Penland, a new wholly owned subsidiary, which is proposed to be a joint venture company with Peninsula Land for real estate development.

* Pidilite Industries:* The company appointed Sudhanshu Vats as managing director designate and appointed Kavinder Singh as executive director and joint managing director designate.

* Godrej Industries:* The company has made further investments in Godrej Capital. It now holds an 89.48% stake in the company.

* Rallis India:* The company appointed Gyanendra Shukla as MD and CEO for 5 years, with effect from April 1.

* MPS:* The company’s unit, MPS North America, acquired AJE to scale Al capabilities and enter the B2C market.

* MOIL:* The company has increased the prices for ore with manganese content below Mn 44% by 5%.

* Larsen & Toubro:* The company commissioned the first indigenously built hydrogen electrolyser at Hazira.

IPO Offering

Mukka Proteins: The public issue was subscribed 2.47 times on day 1. The bids were led by non-institutional investors (1.55 times), retail investors (3.7 times) and institutional investors (1.01 times). 

Bharat Highways: The public issue was subscribed 1.03 times on day 2. The bids were led by institutional investors (0.02 times) and other investors (2.24 times). 

*Platinum Industries:*The public issue was subscribed 99.03 times on day 3. The bids were led by non-institutional investors (141.83 times), retail investors (50.99 times) and institutional investors (151 times). 

Exicom Tele-Systems: The public issue was subscribed 129.54 times on day 3. The bids were led by retail investors (119.59 times), non-institutional investors (153.22 times) and institutional investors (121.80 times).

Block Deals 

Piramal Enterprises: BNP Paribas Arbitrage sold 19.83 lakh shares (0.83%), while East Bridge Capital Master Fund I Ltd bought 19.83 lakh shares (0.83%) at Rs 898.5 apiece. 

Dish TV: East Bridge Capital Master Fund I bought 2.84 crore shares (1.54%) at Rs 21.05 apiece, while BNP Paribas Arbitrage sold 2.84 crore lakh shares (1.54%) at Rs 21.05 apiece. 

Bulk deals

*ADF Foods:*Reliance Commercial Finance bought 6.9 lakh shares (0.62%) at Rs 190 apiece, and Top Class Capital Markets sold 8.6 lakh shares (0.78%) at Rs 191.31 apiece. 

Bharat Heavy Electricals: BNP Paribas Arbitrage sold 3.50 crore shares (1%) at Rs 227.27 apiece.

CMS Info Systems: Elimath Advisors bought 8.5 lakh shares (0.54%) at Rs 378.82 apiece. 

Lumax Auto Technologies: Albula Investment Fund sold 30 lakh shares (4.4%), while Nippon India Mutual Fund bought 25 lakh shares (3.66%) at Rs 450.5 apiece. 

NMDC: BNP Paribas Arbitrage sold 3.32 crore shares (1.13%) at Rs 225.68 apiece. 

Union Bank of India: BNP Paribas Arbitrage sold 5.21 crore shares (0.7%) at Rs 145.95 apiece. 

GMR Airports Infra: BNP Paribas Arbitrage sold 8.14 crore shares (1.35%) at Rs 83.91 apiece. 

Insider Trades

Deccan Gold Mines: Promoter Rama Mines Mauritius sold 1.05 lakh shares between Feb. 23 to 28. 

Usha Martin: Promoter Peterhouse Investments India sold 2.5 lakh shares on Feb. 28. 

Pledge Share Details

Chambal Fertilizers and Chemicals: Promoter Zuari Industries created a pledge of 64.69 lakh shares on Feb. 27 and revoked the pledge of 99.44 lakh shares between Feb. 23 to 27. 

Genesys International Corporation: Promoter Sajid Malik revoked a pledge 4.03 lakh shares on Feb. 23 and Promoter Late Mrs. Saroja Malik revoked a pledge of 3.82 lakh shares on Feb. 23.

Trading Tweaks 

Price band revised from 10% to 5%: Hind Rectifiers. 

Price band revised from no band to 20%: Delta Corp. 

Moved out short-term ASM framework: BLS E-Services, Centum Electronics, Entertainment Network.

F&O BAN

NIL