Stocks in Focus on March 2: BPCL, Auto Stocks, IGL, NMDC to Coal India; here are the 5 Newsmakers of the Day
Benchmark domestic stocks on Monday climbed one and a half per cent in sync with gains in the global equity markets. The BSE Sensex closed 749.85 points, or 1.53 per cent, up at 49,849.84, while the NSE Nifty surged 232.40 points, or 1.6 per cent, to finish at 14,761.55. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Tuesday
Benchmark domestic stocks on Monday, March 1, 2021, climbed one and a half per cent in sync with gains in the global equity markets. The BSE Sensex closed 749.85 points, or 1.53 per cent, up at 49,849.84, while the NSE Nifty surged 232.40 points, or 1.6 per cent, to finish at 14,761.55. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, March 2, 2021. List of such five stocks:
BPCL + SCI
BPCL: Bharat Petroleum Corporation (BPCL) board on Monday approved the sale of its entire equity (61.65% stake) in Numaligarh refinery for Rs 9,875 crore. The stakes will be sold to the consortium of Oil India Limited (OIL), Engineers India Ltd (EIL) as well as the government of Assam. Oil India will get 38% stakes and EIL will get 10% stakes. The rest 13.65% will be sold to the Assam Government.
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Shipping Corporation of India (SCI): The privatization process of SCI has moved to the second stage, said Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey. He added, the government has received multiple bids for the privatization of the Shipping Corporation of India.
Auto Sales + Tata Motors
Hero MotoCorp: India’s largest two-wheeler company reported a 1.4% year-on-year rise in total sales of the vehicles in February 2020. It has sold 5.05 lakh units in February 2020 against 4.98 lakh units sold in the same month last year. Domestic sales grew to 4.84 lakh units against 4.8 lakhs sold last year. Exports increased to 21,034 units against 18,046 units sold in February 2020.
VST Tillers: The company has reported a 58.6% rise in sales of power tillers to 2,159 units in February 2021 against 1,361 units sold last year in the same month. Tractor sales fell to 507 units in February 2021 against 564 units sold in February 2020.
Eicher Motor: Eicher Motors reported a 9.6% rise in sales of Royal Enfield (RE) in February 2020 at 69,659 units against 63,536 units sold last year in the same month. The company has exported 4,545 units in February 2021 against 2,348 units exported in February 2020.
Tata Motors: The Delhi government has delisted the electric version of the Tata Nexon car from its subsidy scheme for electric vehicles following complaints that the model failed to meet the specified range on a single charge. Following the action, the company said, it is unfortunate to receive this order from the Delhi Transport Commission. We will continue to engage constructively to protect the interests of our customers. The Nexon EV is the only personal segment EV available in the market today that meets the stringent FAME norms.
IGL Price Hike + Petronet LNG
Indraprastha Gas Limited: Gas Distribution Company has revised the prices of CNG and PNG by 70 paise and 91 paise respectively. The new rates will be applicable from March 2, 2021.
Petronet LNG: Petronet has incorporated a wholly owned subsidiary company of Petronet LNG Limited for undertaking GUCD operations, LNG Bunkering and other allied services. The subsidiary has been named 'Petronet Energy Limited' and will have an Authorized Share Capital of this Company is Rs 500 crores.
NMDC + Coal India
NMDC: The iron ore company has reported its operational numbers and said its production grew by 19% year-on-year in February 2021 to 3.86 million tonnes from 3.24 million tonnes reported last year. Overall sales in February went up by 11.7% year-on-year to 3.25 MT from 2.91 MT.
Coal India: The company has reported that its production declined 6.5% year-on-year in February 2021 to 61.9 MT against 66.2 MT. Overall sales declined 6.2% year-on-year to 51.2 MT against 54.6 MT.
Bulk Deals + Insider Trades - Himadri + AB Capital + Deepak Fertilisers & Petrochemicals Corporation
Himadri Speciality Chemical: BC India Investments sold 50 lakh shares at Rs 51.75 per share. Plutus Wealth Management LLP sold 40 lakh shares at Rs 47.23 per share.
Aditya Birla Capital: Promoter IGH Holdings bought 34.15 lakh shares between February 23-24.
Deepak Fertilisers & Petrochemicals Corporation: Promoter Robust Marketing Services bought 53,500.
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