SGX Nifty Up 66 Points | Paras Defence Bags New Order | Why Cochin Shipyard is Rising | Top Buzzing Stocks Today

Tue, 21 Mar Pre-Open

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On Monday, Indian share markets recovered some losses during closing hours but still ended lower.

Benchmark indices crashed yesterday triggered by weak global cues on the lingering worries of contagion risks in the global banking system despite troubled Credit Suisse's acquisition by the UBS Group.

At the closing bell on Monday, the BSE Sensex stood lower by 361 points (down 0.6%).

Meanwhile, the NSE Nifty closed lower by 97 points (down 0.6%).

HUL and BPCL were among the top gainers.

Adani Enterprises and Hindalco, on the other hand, were among the top losers.

Broader markets settled on a weak note on Monday. The BSE Midcap fell 1.1% while the BSE SmallCap index ended 1% lower.

Barring FMCG, all other sectoral indices ended in red with stocks in the IT sector, metal sector, and realty sector witnessing most of the selling.

Shares of Godrej Consumer and KPIT Technologies hit their 52-week high.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee was trading at 82.6 against the US$.

Gold prices for the latest contract on MCX were trading higher by 0.6% at Rs 59,728 per 10 grams at the time of Indian market closing hours on Monday.

Meanwhile, silver prices for the latest contract on MCX were trading up by 0.7% at Rs 68,960 per kg.

At 7:50 AM today, the SGX Nifty was trading up by 66 points or 0.4% higher at 17,090 levels.

Indian share markets are headed for a positive opening today following the trend on SGX Nifty.

Speaking of Indian share markets, Harsha Upadhyaya is a big believer in the India story. And he believes the way to go about making the most of it as an investor is to pick stocks using the Growth at Reasonable Price (GARP) approach.

In the latest episode of the investor hour podcast, Rahul Goel discusses Harsha Upadhyay's framework for picking stocks, position sizing and asset allocation. And of course, they talk about how to detect and avoid fraudulent companies.

Tune into the video to know more:

Top buzzing stocks today

Paras Defence share price will be in focus today.

Paras Defence and Space Technologies, on Monday, bagged an order worth Rs 640 (million) m for an avionics suite for Saras MK-2 aircraft from the Council of Scientific and Industrial Research (CSIR) and National Aerospace Laboratories (NAL).

The avionics suite for the Saras MK-2 aircraft will be delivered in the next financial year. Saras is the first Indian multi-purpose civilian aircraft in the light transport aircraft category designed by the CSIR-NAL.

The avionics suite of the Saras MK-2 aircraft is a complete glass cockpit of the aircraft comprising all the equipment of control, along with an auto-pilot system.

Glenmark Pharma will also be a top buzzing stock.

Glenmark Pharma, on Monday, received approval from the US health regulator to market a generic product used to treat schizophrenia and in some cases, to control severe nausea.

The company has received a nod from the US Food & Drug Administration (USFDA) for Prochlorperazine Maleate Tablets USP, 5 mg and 10 mg.

The Prochlorperazine Maleate Tablet is the generic version of the Compazine Tablets of GlaxoSmithKline.

Why Cochin Shipyard share price is rising

Cochin Shipyard share price jumped 6.5% on Monday after the company bagged a Rs 5.5 billion (bn) order from Rotterdam-based Samskip Group for two zero-emission feeder container vessels.

The company has bagged an order from NAVSHUTTLE 1 AS and NAVSHUTTLE 2 AS, Lysaker Norway. The order is for the design and construction of two Zero Emission Feeder Container Vessels with an option for two more vessels, Cochin Shipyard said in an exchange filing.

The first vessel is to be delivered in 28 months and the second is to be within 34 months, the shipping company added.

These ships can carry about 365 of 45-feet long high cube containers and are intended to serve the European Market where sustainable transportation solutions are in high demand, Cochin Shipyard said.

Did you know that Cochin Shipyard is one of the top 5 defence companies in India by growth?

SJVN bags a new order

SJVN's green power wing has bagged a solar project from the Maharashtra State Electricity Distribution Company (MSEDCL).

SJVN Green Energy, a wholly owned subsidiary of the company, received a letter of award from MSEDCL for a 200-MW solar power project to be developed anywhere in the state of Maharashtra, SJVN said in a press release.

The project shall be constructed within a period of 18 months from the date of signing of power purchase agreement (PPA) with MSEDCL.

The tentative cost of construction or development of this project shall be around Rs 100 bn.

The project is expected to generate 455.52 MUs in the first year and the cumulative energy generation over a period of 25 years would be about 10480.82 MU.

AGI Infra to pay dividend soon

AGI Infra is a small-cap company that operates in the real estate industry. With its headquarter in Jalandhar (Punjab), the company that develops residential and commercial developments. The company has operations across Punjab.

For its eligible shareholders for the fiscal year 2022-2023, the company has issued an interim dividend. The company will pay an interim dividend of Re 1 per share. It has fixed 22 March as the record date

AGI Infra has announced five dividends since 18 September 2018. It has also announced an equity dividend of 10% at face value of Rs 10, for the financial year that ended in March 2022.

The stock has given a multibagger return of 184.9% over the past five years, and a multibagger return of 750% during the past three years. The stock touched a 52-week-high of Rs 601 on 01 August 2022 and a 52-week-low of Rs 222.2 on 12 April 2022.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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