ONGC Green’s 100% Takeover of PTC Energy

20 March 2025

Highlights

The market extended its winning streak, with the BSE Sensex rising 1.19% and Nifty50 climbing 1.24%. Nifty Oil & Gas led sectoral gains, up 1.59%. Rajesh Exports soared 18.24%, while KEI Industries plunged 13.47%, making it the biggest loser.

Headline Indices

Sectors at a Glance

Top Gainers

Company	Today’s Chg	LTP
Nifty Oil & GasNIFTY OIL AND GAS	+1.59%+162.30	10353.95
Nifty InfraNIFTY INFRA	+1.45%+118.50	8282.45
Nifty AutoNIFTY AUTO	+1.42%+303.55	21623.05

Top Losers

Company	Today’s Chg	LTP
Nifty Financial ServicesNIFTY FIN SERVICE	+0.70%+168.65	24309.00
Nifty Private BankNIFTY PVT BANK	+0.61%+150.90	24913.10
Nifty PSU BankNIFTY PSU BANK	+0.42%+25.50	6044.85

*Prices shown may have delay up-to 15 minutes

What moved the market?

Top Gainers

Company	Today’s Chg	LTP
Rajesh Exports Ltd.RAJESHEXPO	+18.24%+28.93	187.58
Shipping Corporation of India Ltd.SCI	+11.92%+18.80	176.49
RHI Magnesita India Ltd.RHIM	+10.93%+45.50	461.60
Sun Pharma Advanced Research Company Ltd.SPARC	+10.86%+14.15	144.49
KEC International Ltd.KEC	+8.58%+65.70	831.10

Top Losers

Company	Today’s Chg	LTP
KEI Industries Ltd.KEI	-13.47%-442.15	2841.10
Polycab India Ltd.POLYCAB	-6.53%-355.00	5083.40
Vijaya Diagnostic Centre Ltd.VIJAYA	-5.92%-66.25	1053.55
HBL Engineering Ltd.HBLENGINE	-4.62%-22.30	460.10
Finolex Cables Ltd.FINCABLES	-4.51%-39.15	829.30

*Prices shown may have delay up-to 15 minutes

India VIX₹12.60 -5.26%

Nifty Midcap 150₹18,948.45 +0.55%

Nifty Smallcap 250₹14,922.35 +0.78%

Top News of the day

• The US Federal Reserve kept rates steady at 4.25%-4.5% but hinted at two cuts this year. Rising economic uncertainty persists, yet markets surged, with the Dow Jones gaining over 200 points.
• Chinese banks kept loan rates unchanged (1-year: 3.1%, 5-year: 3.6%) for the fifth month. To boost housing and spending, China plans ₹5.7 lakh crore bonds, while rate cuts may come by May.
• Russia has surpassed the UAE as India’s leading naphtha supplier, providing over half of imports at discounted prices. Indian refiners are expected to continue leveraging lower costs amid rising domestic demand.
• The DGTR recommends a 12% safeguard duty on steel imports** for 200 days to protect domestic steelmakers from rising imports. This move boosted major steel stocks as India countered global trade shifts.
• The Union Cabinet allocated ₹1,500 crore to boost low-value UPI transactions (₹2,000 or less) with 0.15% incentives, aiming for 200 billion transactions by FY25. Other approvals include highways, a fertilizer plant, and dairy reforms.

Market Highlights

Bharat Forge Ltd.₹1,194.30 +5.13%

Bharat Forge signed a definitive agreement to acquire AAM India Manufacturing Corporation, a key supplier of axle products for commercial trucks and buses, for ₹544.53 crore, subject to closing adjustments.

Garden Reach Shipbuilders & Engineers Ltd.₹1,724.05 +5.04%

GRSE has signed its first MoU with a Northeast state, partnering with PWD Nagaland to supply eight Double Lane Modular Steel Bridges, supporting India’s Make in India initiative for regional development.

NCC Ltd.₹201.48 +2.41%

NCC received a ₹2,130 crore Letter of Acceptance (LoA) from the Andhra Pradesh Capital Region Development Authority for infrastructure work in Amaravati’s Zone-12. The contract covers roads, drainage, water supply, sewage, power, ICT ducts, and plantation.

Oil And Natural Gas Corporation Ltd.₹235.59 +1.30%

A subsidiary of ONGC, ONGC Green Ltd., has completed the acquisition of a 100% stake in PTC Energy Ltd. with a total payment of ₹1,179 crore. 

Ola Electric Mobility Ltd.₹51.71 -3.97%

Ola Electric faces regulatory scrutiny over discrepancies in EV scooter registrations. According to media reports, the Ministry of Heavy Industries has sought clarification on differences between reported sales (25,000 units) and Vahan portal data (8,600 registrations ).

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