Priyanka Tiwari
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As of the latest available figures, the closing value of Sensex for March 3 stood at 73,085.94, which was lower by 0.15 percent while Nifty valued at 22,119.30, which was lower by 0.024 percent. The economy’s gradual recovery from its intraday low is being supported by improved economic growth, consumption resurgence, and abundant agriculture which caused positive investor sentiment. Domestic data shows signs of recovery where it is deemed oversold, but caution is warranted as the sustainability of this recovery is dependent on clearer global trade complexities which have not improved much.
Top Gainers
TVS Motor Company (CMP: Rs 2332 ; up by 4.79 percent)
Strong sales figures posted by the company for February 2025 led to a 3 percent gain in the stock TVS Motor Company during early trading. Monthly sales reached 403976 units, a 10 percent year-on-year increase from the February 2024 figure of 368424 units, A broader positive sense is reflected in the auto industry where M&M, Ashok Leyland and Eicher Motors stocks rose by over 4 percent in response to healthy sales performance for the month.
AstraZeneca Pharma India (CMP: Rs 159.55 ; up by 2.38 percent)
AstraZeneca Pharma India registered a gain of 3 percent and reached Rs 6800 in afternoon trading, after the company received approvals to broaden the scope of its cancer treatment Imfinzi. The central CDSCO has granted the permission to import, market, and distribute Durvalumab (Imfinzi) for patients with unresectable hepatocellular carcinoma (uHCC) which is a stage of liver cancer.
Larsen & Toubro (L&T) (CMP: Rs 3198.20 ; up by 1.09 percent)
Larsen & Toubro (L&T) rose more than 1% to Rs 3200 after the announcement from the company regarding the P&TD Business Unit Order Received of new contracts in the range of Rs 2500 crore to Rs 5000 crore both from India and overseas regions. L&T allocates and classifies these types of orders towards this range as “large” which increases investor confidence.
UltraTech Cement (CMP: Rs 10,348 ; change: +2.17%)
UltraTech Cement shares, which belong to the Aditya Birla Group, seem to have done well on the Nifty 50, highest gainer, even with the market performance being weak overall. The positives stemmed chiefly from the reactions taken to the recent investors call. The analysts noted UltraTech's subsequent steps to enter the cables and wires (C&W) vertical and the company's reported focus on C&W facility utilization also drew attention.
Polycab India (CMP: Rs 4877 ; change: +3.47%)
The shares of Polycab India saw an increase of approximately 1 percentage points early on in the day’s trading, although trading activity in general has been subdued. Recently, UBS provided new commentary on Polycab which provided some positive boost with a buy rating but reduced the target price from Rs. 9,000 to 7,700 per Polycab share while still keeping a buy recommendation. This followed UltraTech Cement sinking sentiment by announcing they will be joining the cables and wires market.
Greatest Declines
Coal India (CMP: Rs 360; down by 2.37 percent)
The stock price of Coal India dipped 4 percent after the company update for the month of February proved to be underwhelming for stakeholders. In the remaining quarter of the 2022 financial year, Coal India’s production year over year decreased by 0.8 percent to a total of 74.1 million tons (MT), which cumulatively brings the firm’s year to date production figure to 695.3 MT, which signifies a stubborn 1.5 percent year on year increase. Nonetheless, so far, the output achieved equates to only 83 percent of what is required to fulfill a portion of the set target of 838 MT. This indicates that the company will have to achieve two-thirds of the annual production goal set for the financial year 2025 in the last month of the financial year. Analysts are skeptical as that target is deemed as exceedingly optimistic.
Indian Overseas Bank (IOB) (CMP: Rs 41.69 ; down by 4.23 percent)
The stock price of Indian Overseas Bank (IOB) decreased by 5.7 percent, resulting in a record low over the past 52 weeks of Rs 4101. With regards to the public sector lender, this is the second day that the highs are being suppressed after it announced the receipt of a demand notice from the Deputy Commissioner Chennai which previously estimated GST liabilities for the Public sector lender for the financial year 2020-21 to be around Rs 699.52 crore. This notice, issued on the 27th of February, 2025, also included a fine of 35.26 crore and therefore has put greater strain on the stock.
Angel One Ltd (CMP: Rs. 1979 ; down by 8.77 percent)
The shares of Angel One Ltd has dropped further towards an intraday low of Rs 1,952.25 and is currently sitting at 6 days of constant losses. Over the past 6 days the stock dropped almost 17%. The sell-off in capital market oriented stocks is aggravated by weakness in the overall market, the global trade tensions, and FII outflow, which has resulted in extreme negativity in the financial services sector.
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