Share Market HIGHLIGHTS: Sensex ends 90 pts higher, Nifty at 21,839 led by auto, FMCG, energy stocks; Royal Enfield parent zooms

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Forex Market Update: Rupee ends weaker by 12 paise at 83.16 vs dollar 

Share Market Today: Sensex ends 90 pts higher, Nifty climbs to 21,839 led by auto, FMCG, energy stocks; Eicher Motors up 4%

Block deal data: Rs 55,000-crore transactions in March so far; investors cautious

Dalal Street has recorded block deals amounting to Rs 55,000 crore so far this month, setting March on course to emerge a fourth month with block deals of more than Rs 21,000 crore, according to provisional exchange data.

According to Zee Business research, several promoters, private equity funds and global investment funds have pared stake in listed entities in March through block deals.

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Gensol Engineering shares hit upper circuit for 3rd day in a row

Gensol Engineering shares hit 5 per cent upper circuit for the third consecutive day on Wednesday. The stock opened the gap up with a gain of 5 per cent at the upper circuit limit of Rs 882.10 on the BSE. The counter had closed at Rs 840.10 in the last trading session.

On technical parameters, the counter is trading higher than the 5-day and 200-day moving averages but lower than the 20-day, 50-day and 100-day.

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Maruti Suzuki climbs past Rs 12,000 price for the first time

Shares of the country's leading automaker Maruti Suzuki in trade on Wednesday (March 20) galloped past Rs 12000 price levels for the first time. The stock at its day’s high marked levels of Rs 12,025, up 3.69 per cent over the previous close.

Shares of the country’s largest passenger-vehicle manufacturer logged 17 per cent year-to-date return as against the Nifty’s return of 0.9 per cent during the same period. 

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Over 386% return in 3 years: Smallcap metal stock gains for second consecutive day

Shares of JTL Industries, which is into steel tube manufacturing, gained more than 3 per cent on Wednesday i.e. March 20. The counter opened upside at Rs 193.15 on the BSE and went on to hit an intraday high of Rs 198 apiece. This is a surge of 3.07 per cent from the previous close of Rs 192.10. 

The smallcap metal stock gained for the second consecutive day today as benchmark equity indices rebounded in early trade on Wednesday after a sharp decline in the previous trade amid a rally in global markets and fresh foreign fund inflows.

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PSU multibagger to give Rs 4.5/share payout, to trade ex-date next week

State-owned REC's shares are all set to trade ex-dividend next week, as the Maharatna PSU has announced a third interim dividend for the current financial year.

During market hours on Tuesday, infrastructure finance company REC announced the dividend of Rs 4.5 per equity share of the face value of Rs 10 per share.

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GPT Healthcare reports 37.3% jump in YoY profit, announces dividend; stock jumps

Recently listed GPT Healthcare shares zoomed 10 per cent in trade on Wednesday, a day after the company announced its Q3FY24 results and the second interim dividend. 

At around 10:33 a.m., shares of GPT Healthcare rose 5.72 per cent or Rs 9.6 at Rs 177.35 apiece on BSE. The market capitalisation of the company at around the same time stood at Rs 1,453.6 crore.

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LT Foods shares skyrocket 10% after Abakkus Asset Manager picks 0.97% equity via block deal

Shares of LT Foods gained as much as 10 per cent in Wednesday's trade touching the day's high at Rs 178 apiece on BSE. The stock rallied after 0.97 per cent equity changed hands via a block deal. The transaction is valued at nearly Rs 55 crore.

As of 12:09 p.m., shares of LT Foods traded 7.49 per cent or Rs 12.15 higher, at Rs 174.3 apiece on the BSE. The market capitalisation of the company at around the same time stood at Rs 6,052.62 crore.

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Bharti Hexacom gets Sebi's approval to float IPO

Bharti Airtel's arm Bharti Hexacom has received capital markets regulator Sebi's nod to mobilise funds through an initial public offering (IPO).

The IPO will not have any fresh issuance of equity shares, and since it is an offer for sale or OFS, Bharti Hexacom will not receive any proceeds from the issue.

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Cyient Share Price Target: JP Morgan initiates coverage of IT major with 'overweight' rating - Check details

Shares of Cyient Limited surged on Wednesday after brokerage JP Morgan initiated coverage of the IT major. The counter opened in green at Rs 2015.30 - a surge of over 2 per cent from the previous close of Rs 1973.20.

The scrip surged as much as 3.92 per cent to touch a high of Rs 2050.55. Last seen, the counter held firmly in green and was trading at Rs 1989.10 on the BSE.

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Precious metals trade flat; yellow metal near Rs 65,600; white metal above Rs 75,300

Domestic precious metal futures on Wednesday were muted with a positive bias as markets prepared for the Federal Reserve’s rate decision later today, with policymakers due to present forecasting that could shed light on when the US central bank will pivot to lowering borrowing costs.

Last seen, MCX gold futures (Apr 5) were flat with a positive bias at Rs 65,599 per 10 grams at the last count, having traded between Rs 65,596 and Rs 65,623 earlier in the day. MCX Silver futures (May 5) were flat at Rs 75,310 per kg.

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What brokerages make of Tata Technologies, Zomato, Gujarat Gas, OMC stocks today

As Dalal Street enters the March 20 session, brokerages have several stocks on their radar. Here's what UBS, Jefferies, Macquarie, JPMorgan, Citi and Nomura make of stocks such as Tata Technologies, Zomato, Gujarat Gas, Engineering Research & Development (ER&D), Electronics Manufacturing Services (EMS) and oil marketing companies (OMCs):

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332.50% dividend in FY24 | This gas PSU stock gets 'Buy' call - check target price

Natural gas distribution company Gujarat Gas Limited has announced that its board of directors will meet on May 6 to consider dividends for the financial year 2023-24. The company will also consider and approve the standalone and consolidated audited financial results for the quarter and financial year ended on March 31, 2024.

Gujarat Gas Share Price Target 2024

Ahead of the scheduled meeting, brokerage firms have given a 'BUY' call on Gujarat Gas shares. Read more 

Share Market Today LIVE | Aurobindo Pharma shares gain after drug maker wins US regulator approval for nasal spray

Aurobindo Pharma shares gain after the Hyderabad-headquartered pharmaceutical company received approval from the US Food and Drug Administration (USFDA) for its nasal spray. The pharma stock gains as much as two per cent to Rs 1,013.6 on NSE, continuing to rise for the fifth trading session in a row.

Aurobindo Pharma will manufacture and market Mometasone Furoate Monohydrate Nasal Spray (50 mcg/spray), which is bioequivalent and therapeutically equivalent to the reference listed drug (RLD) Nasonex Nasal Spray (50 mcg/spray) of Organon LLC, it said in a regulatory filing. Read more 

Share Market Today LIVE | Zomato shares rise as Bernstein gives thumbs up to 'pure veg' mode

Zomato shares gained on Wednesday, March 20, a day after the food delivery app announced the introduction of a 'pure veg' mode in select markets in phases. Giving a thumbs up to the announcement, foreign brokerage Bernstein maintained its 'outperform' rating for the stock while raising its target price by 10 per cent to Rs 200 per share.

Zomato shares gained as much as 2.1 per cent to Rs 161.2 on NSE, halting a two-day fall.  Bernstein's target implies an upside of 26.4 per cent in Zomato shares from the previous close. 

Zomato pure veg fleet, Zomato pure veg mode

After market hours on Tuesday, Zomato announced the launch of a 'pure veg' mode, wherein customer orders from vegetarian-only restaurants would be delivered by a separate fleet, in select markets. Read more 

Image: https://twitter.com/deepigoyal

Traders' Diary | Buy, sell or hold strategy on TCS, Britannia, Cyient, PFC, Concor, over a dozen other stocks today 

In this edition of Traders' Diary, the Zee Business research team shares exclusive research on 20 stocks that investors and traders can track on Wednesday, March 20, 2024. Check out the complete list of stocks on analysts Kushal Gupta and Varun Dubey's radar.

Here's the complete list of investment and trading ideas for the day:

Kushal Gupta

• Buy RR Kabel shares in the cash segment for a target price of Rs 1,475 with a stop loss at Rs 1,415
• Buy Aurobindo Pharma futures for a target of Rs 1,020 with a stop loss at Rs 980
• Buy the Rs 3,980 call option of Tata Consultancy Services (TCS) at Rs 66 for a target of Rs 106 with a stop loss at Rs 46
• Technical pick: Sell Dalmia Bharat futures for a target price of Rs 1,835 with a stop loss at Rs 1,900
• Fundamental pick: Buy Eicher Motors shares for a one-year target of Rs 4,500
• Investment idea: Buy Britannia Industries shares for a one-year target of Rs 6,000. Read more 

Share Market Today LIVE | Eicher Motors zooms after UBS double upgrades Royal Enfield maker to 'buy'; check out target price 

Shares of Eicher Motors, the manufacturers of Royal Enfield (RE) motorcycles, gallops by nearly 6 per cent to the day's high of Rs 3930.35 on BSE after the global brokerage UBS double-upgraded the stock to a buy and also raised the target to Rs 5000 from the earlier Rs 4300 per share.

The brokerage believes the company's upcoming 450cc platform launch will address competition and growth concerns. Further, the brokerage said that the market is missing continued strength in RE's addressable market, lacklustre response to competition and a strong customer connect. Read more

Currency Update | Rupee edges up 1 paisa to 83.02 against US dollar in early trade

Stocks to Buy or Sell | Eicher Motors, Bajaj Auto, Power Grid among analysts' top picks

In conversation with Zee Business Managing Editor Anil Singhvi, market experts Rakesh Bansal, Vishvesh Chauhan, Siddharth Sedani, Kunal Saraogi and Sumeet Bagadia share their top stock recommendations in this special segment, Pick of the Day.

On the analysts’ ‘buy’ and ‘sell’ lists are stocks such as Eicher Motors, Bajaj Auto, Power Grid Corporation, Gujarat Gas Ltd and Petronet LNG. Read more 

Share Market Today LIVE | Sensex up nearly 200 pts, Nifty crosses 21,850 in opening deals

Nifty 50

Source: NSE

Sensex

Source: BSE

Stocks to Watch | Zomato, ITI, KIOCL, NTPC, other stocks

Here are some stocks that will be in focus on Wednesday, March 20: 

ITI Ltd: The government transferred 27,36,405 equity shares to the Special National Investment Fund (SNIF) on March 12, 2024. 

KIOCL: The company installed four No's vertical pressure filters in the Pellet Plant Unit. The capacity of each filter is 100 tonnes/hr. 

NTPC: The company has decided to issue unsecured non-convertible debentures of Rs 1,500 crore for a tenor of two years.

Route Mobile: Proximus Opal launches an open offer to buy 1.64 crore shares of  the company from public shareholders. This open offer to be executed at a price of Rs 1626.4 will run between March 27 and April 12.

Aurobindo Pharma: The company has received the USFDA approval for the nasal spray. This medicine will be launched in the first quarter of the fiscal year 2025.

Zomato: The company has launched a complete vegetarian delivery service and post the move global brokerage Bernstein has maintained an Outperform view on Zomato with a new target of Rs 200 as against Rs 180 earlier. Read more 

Morning Outlook | Domestic markets could open mildly higher, says Deepak Jasani

"Domestic markets could open mildly higher, in line with mixed and muted Asian markets today and higher US markets on March 19, says Deepak Jasani, Head of Retail Research, HDFC Securities. "In Nifty, a break of 21,745 on the downside could result in an acceleration in the downtrend while 21,905 could offer resistance on the upside, he adds. 

Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank today

Zee Business Managing Editor Anil Singhvi sees support emerging at 21,725-21,800 levels and a stronger support zone at 21,600-21,675 for the headline Nifty50 index on Wednesday, March 20. For the Nifty Bank, he expects support to come in at 46,050-46,250 levels and a strong buy zone at 45,675-45,975 levels.

Read more on how Anil Singhvi views the Indian share market today and what he recommends

Share Market Today LIVE | GIFT Nifty futures indicate a positive start ahead on Dalal Street

GIFT Nifty futures — an early indicator of the Nifty 50 index — are up 30.50 points or 0.14 per cent at 21,917 ahead of the opening bell on Dalal Street.

Good morning! Welcome to Zeebiz.com's blog on the stock market today

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Happy trading, and happy investing!