Reliance Acquires 74% of Nauyaan Shipyard

24 March 2025

Highlights

The market continued last week’s rally, with Nifty 50 gaining 1.32% and BSE Sensex up 1.40%. Nifty PSU Bank led sectoral gains, rising 3.18%. JBM Auto jumped 16.56%, while Jindal Stainless fell 5.49%, the biggest loser.

Headline Indices

Sectors at a Glance

Top Gainers

Company	Today’s Chg	LTP
Nifty PSU BankNIFTY PSU BANK	+3.18%+195.15	6326.10
Nifty Private BankNIFTY PVT BANK	+2.42%+610.15	25842.85
Bank NiftyNIFTY BANK	+2.20%+1111.40	51704.95

Top Losers

Company	Today’s Chg	LTP
Nifty Consumer DurablesNIFTY CONSR DURBL	+0.37%+133.55	36383.95
Nifty Healthcare IndexNIFTY HEALTHCARE	+0.36%+50.30	14062.20
Nifty MediaNIFTY MEDIA	+0.06%+1.00	1548.70

*Prices shown may have delay up-to 15 minutes

What moved the market?

Top Gainers

Company	Today’s Chg	LTP
JBM Auto Ltd.JBMA	+16.56%+94.05	662.05
Rajesh Exports Ltd.RAJESHEXPO	+13.47%+25.21	212.43
Finolex Cables Ltd.FINCABLES	+11.92%+100.05	939.05
Alkyl Amines Chemicals Ltd.ALKYLAMINE	+10.59%+169.95	1774.50
Indian Renewable Energy Development Agency Ltd.IREDA	+9.83%+15.22	170.04

Top Losers

Company	Today’s Chg	LTP
Jindal Stainless Ltd.JSL	-5.49%-34.35	591.35
KEC International Ltd.KEC	-4.45%-37.30	801.75
Vodafone Idea Ltd.IDEA	-3.67%-0.28	7.34
Piramal Pharma Ltd.PPLPHARMA	-3.43%-7.79	219.04
Archean Chemical Industries Ltd.ACI	-3.38%-19.00	543.60

*Prices shown may have delay up-to 15 minutes

India VIX₹13.70 +8.90%

Nifty Midcap 150₹19,418.30 +1.12%

Nifty Smallcap 250₹15,392.40 +0.98%

Put Call Ratio of Nifty 50 (expiry: 27th Mar) is 1.16

Top News of the day

• India’s forex reserves rose to $654.27 billion, a 3-month high. The rupee also saw its strongest weekly gain in 2 years, driven by RBI interventions and strong foreign inflows.
• The government plans to scrap the 6% equalization levy on digital ads in Finance Bill 2025. This move could reduce ad costs and benefit Indian businesses advertising on global platforms.
• India’s DAP fertilizer imports from China dropped to 19% this fiscal from 40% last year. Despite challenges, domestic supply has exceeded rabi season demand, ensuring stable agricultural input availability.
• India has imposed anti-dumping duties on five Chinese goods, including aluminum foil and vacuum flasks, to protect local industries. The move targets unfair pricing and addresses the growing trade deficit.
• India removed the 20% export duty on onions to stabilize domestic supply. Meanwhile, onion exports are shifting from South Asia to the Middle East and Europe, reflecting India’s evolving export strategy.

Market Highlights

Power Mech Projects Ltd.₹2,526.50 +16.42%

Power Mech Projects has bagged a ₹579 crore order from Bharat Heavy Electricals Limited (BHEL) for civil, structural, and architectural work at the 2x800MW DVC Koderma Thermal Power Station Phase-II project in Jharkhand.

GAIL (India) Ltd.₹181.28 +3.56%

GAIL shares surged during today’s trading session the PNGRB began reviewing the Natural Gas Pipeline Tariff Regulations, 2008, based on suggestions from an industry committee. The regulator has invited public comments on the proposed changes by April 11.

Reliance Industries Ltd.₹1,302.10 +2.02%

Reliance Industries, through its wholly-owned step-down subsidiary Nauyaan Tradings Pvt Ltd, has acquired a 74% stake in Nauyaan Shipyard Pvt Ltd from Welspun Corp for ₹382.73 crore.

NCC Ltd.₹209.18 +1.53%

NCC has received a Letter of Acceptance (LOA) from Bihar Medical Services & Infrastructure Corporation for the redevelopment of Darbhanga Medical College & Hospital. The total price for the contract shall be ₹1480.34 crores. 

UCO Bank₹38.18 +1.17%

State-owned UCO Bank has fixed the issue price for its ₹2,000 crore qualified institutional placement (QIP) at ₹34.27 per share.

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