Kolkata: The Indian stock market saw a strong recovery rally on Tuesday, reversing two days of heavy losses. Major indices closed with gains of around 1% as buying enthusiasm returned after Donald Trump said the end of the war was near. At the end of the session, Sensex rose 640 points to close at 78,206, while Nifty 50 gained 234 points to settle at 24,262. Nifty once again reached the crucial level of 24,250. ICICI Bank, Mahindra & Mahindra and Axis Bank contributed significantly to the recovery. Let’s have a look at he tocks that may attract the attention of investors today.
Stocks in focus
InterGlobe Aviation: Pieter Elbers, CEO of the company’s airline IndiGo, resigned with immediate effect Citing personal reasons. The company stated that InterGlobe Aviation’s managing director, Rahul Bhatia, will assume the role on an interim basis. The resignation came about three months after its meltdown in services in the first half of December.
TVS Supply Chain Solutions: TVS Supply Chain Solutions has strengthened its global supply chain services for Caterpillar India. The company has opened a new warehouse of approximately 40,000 square feet in the Free Trade and Warehousing Zone in Mannur, about 30 kilometers from Chennai. This facility will facilitate the supply of components from various countries and the procurement of parts for Caterpillar’s manufacturing operations.
HG Infra Engineering: Infrastructure sector company HG Infra Engineering has received a major order in Madhya Pradesh. The company has received a railway infrastructure project worth approximately Rs 401.33 crore from Anuppur Thermal Energy (MP). The project includes civil work, earthwork, bridge and station building construction. In addition, P-way related work will also be carried out. This project is linked to the 2×800 MW thermal power project being built in Anuppur.
Waaree Energies: Waree Solar Americas Inc., a wholly-owned subsidiary of solar company Waaree Energies, has entered into a share subscription agreement with United Solar Holdings Inc. Under this agreement, the company will purchase approximately 5.37 million Series B preferred shares for approximately $30 million. The company clarified that this transaction is not related to any related party and the promoter or group has no stake in it.
Brigade Enterprises: Real estate company Brigade Enterprises has announced its entry into the industrial real estate segment. The company has launched the Brigade Industrial Park, a 25-acre site in Devanahalli, North Bengaluru. The project is located within the High Tech, Defense, and Aerospace Park near Kempegowda International Airport. The project will develop approximately 2 million square feet of leasable space, targeting rapidly growing sectors such as aerospace, defense, IT/ITeS, and data centers.
UCO Bank: Public sector bank UCO Bank has not made any changes to its one-year MCLR rate. The bank has decided to maintain the rate at the previous level, effective March 10.
Bosch Home Comfort India: Bosch Home Comfort India has cited force majeure circumstances due to gas supply disruptions caused by the ongoing conflict in the Middle East. According to the company, the disruption in sea routes has affected gas supply. Furthermore, the Ministry of Petroleum and Natural Gas’s order to prioritize gas distribution has further limited supply. The company stated that this may have a temporary and partial impact on its production.
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