KEC, RMC & HCC Secure Major Deals

17 March 2025

Highlights

Today’s Indian Market Wrap: The market closed on a flat yet positive note, with the Nifty 50 gaining 0.50% and the Sensex rising 0.46%. Nifty Pharma led sectoral gains, up 1.56%. Among stocks, Elgi Equipments surged 13.88%, while Firstsource Solutions tumbled 7.81%, making it the biggest loser.

Headline Indices

Sectors at a Glance

Top Gainers

Company	Today’s Chg	LTP
Nifty PharmaNIFTY PHARMA	+1.56%+317.10	20703.95
Nifty Healthcare IndexNIFTY HEALTHCARE	+1.51%+197.60	13273.35
Nifty Financial ServicesNIFTY FIN SERVICE	+1.03%+239.25	23529.25

Top Losers

Company	Today’s Chg	LTP
Nifty PSU BankNIFTY PSU BANK	-0.24%-13.60	5770.25
Nifty RealtyNIFTY REALTY	-0.38%-3.05	797.10
Nifty MediaNIFTY MEDIA	-0.65%-9.30	1428.50

*Prices shown may have delay up-to 15 minutes

What moved the market?

Top Gainers

Company	Today’s Chg	LTP
Elgi Equipments Ltd.ELGIEQUIP	+13.88%+61.55	505.05
KEC International Ltd.KEC	+6.95%+46.70	718.30
Indian Energy Exchange Ltd.IEX	+5.93%+9.11	162.67
Nuvama Wealth Management Ltd.NUVAMA	+5.89%+297.60	5351.80
Avanti Feeds Ltd.AVANTIFEED	+5.83%+49.15	891.70

Top Losers

Company	Today’s Chg	LTP
Firstsource Solutions Ltd.FSL	-7.81%-23.65	279.00
Mastek Ltd.MASTEK	-6.08%-136.80	2113.20
JM Financial Ltd.JMFINANCIL	-5.67%-5.05	84.06
G R Infraprojects Ltd.GRINFRA	-5.30%-50.80	908.25
Century Plyboards (India) Ltd.CENTURYPLY	-4.59%-32.40	673.55

*Prices shown may have delay up-to 15 minutes

India VIX₹13.42 +1.05%

Nifty Midcap 150₹18,037.25 +0.76%

Nifty Smallcap 250₹14,141.70 +0.33%

Top News of the day

• India and New Zealand will restart negotiations for a Free Trade Agreement (FTA) after talks stalled in 2015. The FTA aims to enhance trade, investment, and supply chain integration, focusing on mutually beneficial market access.
• Indian companies have begun producing key bulk drugs under the PLI scheme, reducing reliance on China. With ₹4,200 crore invested, domestic API production now includes Penicillin G, Clavulanic Acid, and others, boosting exports and ensuring pharmaceutical self-sufficiency.
• India’s sugar production dropped 16.13% to 23.71 million tonnes in 2024-25, disrupting government policies based on higher projections. Maharashtra, Uttar Pradesh, and Karnataka saw sharp declines, with shorter crushing seasons and crop diseases worsening the industry’s financial challenges.
• India’s electric bus sales stagnated in FY25, with only 3,124 units sold, reflecting a decline in market penetration. The government’s ₹10,900 crore PM E-drive scheme faces delays in demand estimation and allocation, impacting the transition to electrified public transport.

Market Highlights

KEC International Ltd.₹718.30 +6.95%

KEC International secured ₹1,267 crore in new orders, including 800 kV HVDC and 765 kV transmission lines from PGCIL in its T&D business, and supply orders for various types of cable and conductors in its cable business in India and overseas.

RMC Switchgears Ltd.₹574.65 +5.00%

RMC Switchgears won a ₹320 crore contract from the Rajasthan Govt for a 50 MW rooftop solar installation in Jaipur and Dausa. The project involves design, supply, erection, and commissioning under the hybrid annuity mode for financial stability. RMC will also manage O&M for 25 years.

Muthoot Finance Ltd.₹2,290.20 +4.27%

As per Muthoot Finance’s filing on March 14, its gold loan AUM surpassed ₹1 trillion on March 13, 2025, marking a significant milestone. Muthoot Finance highlighted its focus on sustained growth, customer-centric innovations, and digital transformation to strengthen its leadership.

Hindustan Construction Company Ltd.₹22.77 +0.66%

HCC in partnership with Tata Projects won a ₹2,191 crore contract for an 8.65 km Madhya Pradesh Metro corridor. HCC holds a 55% stake, securing ₹1,205 crore for underground tunnels and station construction.

One Mobikwik Systems Ltd.₹248.30 -8.26%

MobiKwik shares fell up to 13% during the trading session on March 17 after the three-month shareholder lock-in period ended, making 46 lakh shares (6% of equity) eligible for trade. The stock remains below its IPO price of ₹279.

Corporate Actions