Buzzing Stocks | Adani Ports, Shipping Corporation and others that will be in focus today
Adani Ports and Special Economic Zone | India’s largest private ports & logistics company Adani Ports has received a Letter of Intent from Sri Lankan government to develop and operate the west container terminal (WCT) of Colombo Port in Sri Lanka in a consortium. "Adani Ports will partner with Sri Lanka's largest diversified conglomerate John Keells Holdings and with the Sri Lanka Ports Authority (SLPA) as a part of the consortium awarded this mandate," the company said in a filing to exchanges. "The WCT will be developed on a build, operate and transfer basis for a period of 35 years as a public-private partnership. Adani Ports will hold 51% in the terminal partnership and WCT will be developed to reach a capacity of 3.5 million TEUs. "WCT will have a quay length of 1,400 meters and alongside depth of 20 meters, thereby making it a prime trans-shipment cargo destination to handle ultra large container carriers," Adani Ports said. The announcement was made post market hours, so the stock did not react to the news development. It closed 1.11 percent lower at Rs 719 on March 15. It hit a 52-week high of Rs 768.40 on March 8, 2021, and a 52-week low of Rs 203.40 on March 23, 2020. The market-cap of the company stands at Rs 1.46 lakh crore. The important support levels for the stock are placed at Rs 723.30-716.43, while resistance is placed at Rs 745.53-752.40.
Shipping Corporation of India | Life Insurance Corporation of India sold 2.01 percent stake in state-owned Shipping Corporation of India through open market transaction. The life insurance major reduced stake in the company to 8.04 percent from 10.05 percent earlier. The stock closed 1.81 percent higher at Rs 123.50 on March 15. It hit a 52-week high of Rs 134.60 on March 4, 2021, and a 52-week low of Rs 31.65 on March 24, 2020. The market-cap of the company stands at Rs 5,752.62 crore, as of March 15. The important support levels for the stock are placed at Rs 120.49-119.28 while resistance is placed at Rs 124.38-125.59.
NIIT | The US subsidiary, NIIT (USA) has signed a managed services agreement with a US-based financial services organisation (an existing client) to provide a range of learning services. The term of the agreement is 5 years. "Both companies see this as a significant partnership to transform the effectiveness and efficiency of regulatory and compliance learning within the financial services sector," NIIT said in a filing to exchanges. The development took place post market hours, so the the stock did not respond to it. The stock closed 0.80 percent lower at Rs 186.20 on March 15. It hit a 52-week high of Rs 210.50 on January 6, 2021, and a 52-week low of Rs 53.55 on March 23, 2020. The market-cap of the company stands at Rs 2,650.46 crore. The important support levels for the stock are placed at Rs 187.21-186.55, while resistance is placed at Rs 189.35-190.01.
HFCL | Optical fiber cable manufacturer HFCL will acquire up to 50 percent stake in Nimpaa, keeping in line with thrust on addition of new telecom network products in the field of communications, specifically aramid reinforced plastic (ARP) rods. The company has signed a share subscription and shareholders' agreement with Tamil Nadu-based cable reinforcement solutions company Nimpaa Telecommunications and its promoter shareholders. "In terms of the agreement, the company intends to acquire up to 50 percent of the paid-up equity share capital of Nimpaa, in one or more tranches, by way of subscribing its equity shares," said HFCL in a BSE filing. "ARP rods will be manufactured and supplied by Nimpaa for HFCL, its subsidiaries and associate companies' captive consumption," HFCL said. The stock closed 1.41 percent lower at Rs 27.90 on March 15. It hit a 52-week high of Rs 34.75 on January 15, 2021, and a 52-week low of Rs 8.15 on March 24, 2020. The market-cap of the company stands at Rs 3,583.41 crore. The important support levels for the stock are placed at Rs 28.18-27.91, while resistance is placed at Rs 29.06-29.33.
Mishra Dhatu Nigam | The company's board of directors have declared an interim dividend of Rs 1.20 per equity share of Rs 10 each for the financial year 2020-21, the state-owned company said in a filing to exchanges. The stock closed 0.75 percent lower at Rs 192.65 on March 15. It hit a 52-week high of Rs 236.55 on April 17, 2020, and a low of Rs 135.20 on March 24, 2020. The market-cap of the company stands at Rs 3,609.11 crore. The important support levels for the stock are placed at Rs 193.27-192.18, while resistance is placed at Rs 196.83-197.92.
Infibeam Avenues | Investor Ravi Omprakash Agrawal sold 70,74,550 equity shares of the e-commerce and digital payments player at Rs 97.53 per share, the bulk deals data available on the National Stock Exchange showed. Ravi Agrawal had also sold 50,07,278 equity shares in the company at Rs 98.95 per share on March 12 and 33,75,648 equity shares at Rs 94.36 per share on March 9, 2021. The stock closed 0.71 percent lower at Rs 97.60 on March 15. It hit a 52-week high of Rs 107.05 on March 1, 2021, and a 52-week low of Rs 25.25 on March 24, 2020. The market-cap of the company stands at Rs 6,495.54 crore. The important support levels for the stock are placed at Rs 96.37-92.33, while resistance is placed at Rs 109.43-113.47.
Usha Martin | Promoter Peterhouse Investments and other promoters reduced stake in leading wire rope manufacturer to 3.90 percent from 3.98 percent via open market transaction. Promoters sold 2.3 lakh equity shares, representing 0.075 percent of total paid-up equity capital of the company, Usha Martin said in a BSE filing. The stock closed 3.5 percent lower at 31.75 on March 15. It hit a 52-week high of Rs 38.80 on January 4, 2021, and a 52-week low of Rs 10.50 on March 25, 2020. The market-cap of the company stands at Rs 967.56 crore. The important support levels for the stock are placed at Rs 32.33-31.84, while resistance is placed at Rs 33.94-34.4.
Astron Paper & Board Mill | Astron Paper in its BSE filing said Parth Patel has tendered his resignation as the Chief Financial Officer of the company with effect from April 20, 2021. The stock closed 0.47 percent lower at Rs 42.70 on March 15. It hit a 52-week high of Rs 59.50 on December 9, 2020, and a low of Rs 24.15 on March 24, 2020. The market-cap of the company stands at Rs 198.56 crore. The important support levels for the stock are placed at Rs 42.35-41.94, while resistance is placed at Rs 43.69-44.10.
