Top 5 stocks of the day: Bharti Airtel, IndusInd Bank, Reliance Industries, HUL and Nestle India were among biggest losers on the Nifty, while gainers included Adani Enterprises, Adani Ports, Asian Paints, Tata Steel and Titan Company. Except metal, pharma, capital goods, all other sectoral indices ended in the red. The BSE midcap and smallcap indices ended on flat note.
Top 5 stocks of the day: Sensex and NSE Nifty50
In a session that was extremely volatile on March 15, Indian benchmark indices declined, with Nifty closing under 17,000. The Nifty was down 71.10 points or 0.42% at 16,972.20, while the Sensex was down 344.29 points or 0.59% at 57,555.90. 1924 shares fell, 1508 shares rose, and 119 shares remained unchanged.
Top 5 stocks of the day: Top Stock Gainers
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Kopran | 115.70 | 13.77 | 72.24k |
| Rama Phosphates | 196.45 | 10.89 | 17.80k |
| Alok Industries | 13.30 | 9.83 | 2.41m |
| Foseco India | 2,509.00 | 9.37 | 2.30k |
| NGL Fine Chem | 1,354.25 | 8.75 | 1.50k |
| RamkrishnaForge | 287.60 | 8.34 | 183.72k |
| Moschip Tech | 63.25 | 7.92 | 484.77k |
| KPIT Tech | 831.60 | 7 | 83.79k |
| Chennai Petro | 268.50 | 6.53 | 240.05k |
| Hikal | 301.75 | 6.25 | 32.20k |
Global Surfaces IPO final day sees investors booking 7.47 times, QIB portion 5 times
Investors responded favourably to Global Surfaces’ first public offering on the final day of booking, March 15, placing bids for 5.78 crore equity shares versus an offer size of 77.49 lakh shares that was subscribed for 7.47 times.
All investors took part in the offer, with the amount reserved for high net worth people (non-institutional investors) being booked 20 times and the retail component being subscribed 3.58 times. On the final day of the offer, the slice set aside for qualified institutional buyers was likewise fully subscribed five times.
Citi sees 45% upside in Maruti Suzuki on market share gains
According to Citi, Maruti Suzuki might benefit by more than 45% due to increases in market share and less supply-related anxiety. The firm has set a target price of Rs 12,500 and has issued a “buy” recommendation on the stock.
One of the reasons for the auto major’s declining market share over the last three fiscal years—from 51.2 percent in FY19 to 43 percent in FY22—was its delayed adoption of the SUV purchase trend. SUV sales increased from 26% in 2019 to 42% in 2022, indicating a clear preference among consumers for the more expensive vehicles.
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