Indian indices ended over a percent lower on Thursday, snapping 3 sessions of gains as another spike in bond yields weighed on global market sentiment. Shares of banks, metals, and financial services firms fell the most.
The Sensex ended 598 points lower at 50,846 and the Nifty fell 165 points to settle at 15,081. Broader markets, however, outperformed benchmarks with the midcap index up 0.5 percent and smallcap index up 1.1 percent.
Here are the key stocks that moved today:
Mahindra Logistics: Mahindra Logistics (MLL) shares rallied over 6 percent, in a weak market after it won a contract from Bajaj Electrical for Rs 1000 crore over five years. The deal is a complete end-to-end redesign and outsourcing of Bajaj Electricals’ entire logistics operations to Mahindra Logistics. The twin objectives of the deal will be achieving enhanced service levels, coupled with a logistics cost saving in excess of 25 percent, the company said in a press release.
Adani Ports: Adani Ports and Special Economic Zones shares rose 3 percent after the company announced the acquisition of a 31.5 percent stake in Gangavaram Port. In an exchange filing, Adani Ports & SEZ said that it was acquiring the 31.5 percent stake held by Windy Lakeside Investment Ltd (an affiliate of Warburg Pincus) in Gangavaram Port Ltd (GPL) for Rs 1,954 crore.
Dilip Buildicon: The stock jumped 5.5 percent after it got a Letter of Acceptance from Mahanadi Coalfield Limited (MCL) for a Mine Developer cum Operator (MDO) contract for the development and operation of the SIARMAL open cast project in Odisha. The contract value is Rs 36,819.07 crore
AIA Engineering: AIA Engineering's share price added 3 percent after brokerage house Nomura upgraded its recommendation on the stock to buy, with a target of Rs 2,230 per share. Nomura says freight rates have started to moderate, and that the high raw material prices can be passed through to customers. The company's superior offerings can help it enter the mining sector.
Prism Johnson: The stock rose 4.5 percent after India Ratings upgraded its long-term rating to A+ from A.
(Edited by : Pranati Deva)
First Published: Mar 4, 2021 3:38 PM IST
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