Today's Stock Market Seeks Stability. Significant announcements from companies like Ircon, Vedanta, NBCC, Shilpa Medicare, Bank of Maharashtra, and Sanwardhan Madersan may lead to price increases in their shares today.
Hot Stocks Today: The Indian stock market is currently seeking stability after a significant correction. On Monday, the Nifty index successfully closed above the crucial 22,500 level, increasing the likelihood of a pullback. However, former US President Donald Trump's uncertain tariff policies could put pressure on the market.
Meanwhile, several companies released important business information to the stock exchange after market close on Monday, which may impact Tuesday's trading session. Let's look at the major news from these companies.
Ircon International Receives a Large Order Worth ₹1,096.17 Crore
Ircon International Limited announced on Monday that it has received an order worth ₹1,096.17 crore from the Meghalaya government under an EPC contract. This order was awarded under a joint venture with Badri Rai & Company.
This new contract could boost the company's share prices, as it will strengthen the company's financial growth.
NBCC Limited Secures a New Contract Worth ₹44 Crore
NBCC Limited has received a significant contract from the Mahatma Gandhi Institute for Industrialization, Wardha, valued at ₹44 crore. This project will strengthen the company's portfolio, potentially positively impacting its shares.
Bank of Maharashtra Receives Administrative Warning from SEBI
Bank of Maharashtra reported receiving an administrative warning from the Securities and Exchange Board of India (SEBI). This warning was issued due to the bank's failure to hold necessary Nomination and Remuneration Committee (NRC) meetings in fiscal years 2022-23 and 2023-24.
While the bank's fundamentals are b, this warning is likely to put some pressure on its share prices.
Shilpa Medicare Enters Agreement with Swiss Company
Shilpa Biologics, a subsidiary of pharmaceutical company Shilpa Medicare, has signed a binding term sheet agreement with a Swiss company.
This agreement pertains to the development, manufacturing, marketing, and sales of a new biological entity, expanding the company's business globally. This could lead to a significant increase in its share prices.
Vedanta's Major Demerger Announcement
Vedanta Limited's chairman, Anil Agarwal, stated on Monday that the company will be split into four separate entities after the demerger.
- Each entity will have a total capacity of $100 billion.
- After the demerger, the companies will operate independently with ber capital structures, sector-focus, and new growth opportunities.
- This news could increase Vedanta's share volume and generate positive market sentiment.
Aditya Birla Real Estate Launches New Project
Aditya Birla Real Estate announced on Monday the launch of a residential project named Birla Punyam in Pune.
- This project is initiated by a subsidiary company of Birla Assets.
- The company expects revenue of approximately ₹2,700 crore from this project.
This is part of the company's larger expansion plan in the real estate sector, which could cause significant activity in its shares.
Sanwardhan Madersan to Decide on Interim Dividend on March 21
Sanwardhan Madersan announced on Monday that its board meeting will be held on March 21.
- During this meeting, board members will discuss a proposal for an interim dividend for fiscal year 2025.
- If a dividend is announced, it could boost the company's share prices.
