Top 5 stocks of the day: Federal Bank, IDFC First Bank, Axis Bank, SBI and Kotak Mahindra were the top gainers today.
Most Active Stocks
| Company | CMPChg(%) | Volume | Value(Rs cr) |
|---|---|---|---|
| ITC | 391.95 2.11 | 714.96k | 27.80 |
| SBI | 517.75 0.27 | 393.39k | 20.34 |
| Reliance | 2,391.75 0.54 | 83.68k | 19.90 |
| Tata Motors | 433.50 0.93 | 295.73k | 12.73 |
| HDFC Bank | 1,598.70 -0.98 | 74.76k | 11.98 |
| Infosys | 1,559.35 -0.2 | 70.35k | 10.96 |
| Tata Steel | 112.45 1.17 | 926.48k | 10.43 |
| NTPC | 171.45 0.68 | 561.38k | 9.60 |
| Tech Mahindra | 1,136.00 0.9 | 75.11k | 8.54 |
| TCS | 3,444.45 1.29 | 20.36k | 6.99 |
Top 5 stocks of the day: Sensex and Nifty
The Sensex fell 139.18 points to 59,605.80. The Nifty fell 43 points to 17,511.30. Around 1570 shares advanced, 1776 declined, and 152 remained unchanged.
Top 5 stocks of the day: Zee Entertainment Enterprises
Following the admission of insolvency proceedings by the NCLT, the stock price has fallen by around 10%, as the ongoing arbitration issue may cause the merger with Sony Pictures Networks India to be delayed. The next NCLT hearing is scheduled for March 9, 2023, and unless Zee settles the dispute amicably or obtains a stay of the order, the merger could be delayed even further.
We maintain our Buy rating on the stock, with a target price of Rs 277. (21x Sep-24 EPS). However, given the concerns about a delay in the merger timeline (the primary premise of our buy call), the stock may face pressure in the near term.
Kaya acquires 100% stake in Kaya Skin Care Clinic
Kaya Middle East FZE, a subsidiary of Kaya Limited, acquired a 100 percent equity stake in Kaya Skin Care Clinic – Sole Proprietorship LLC, an Abu Dhabi, UAE-based clinic operator. According to recent regulatory changes that have liberalised foreign ownership, foreign companies can now have 100% ownership in the UAE, according to Kaya in a BSE filing.
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