X

L&T bags large orders, TVS Motor zooms to Africa & more

Nifty50: 16,985 40 (+0.2%)
Sensex: 57,653 126 (+0.2%)


Dear reader,

Today is World Theatre Day! A day to raise awareness about the importance of theatre and its contribution to society.

Did you know that the world’s first theatre was the Theatre of Dionysus in Athens, which dates back to the 5th century BC?

Here’s another interesting trivia. The Phantom of the Opera opened in London's West End in 1986 and is now the longest-running musical in Broadway history.

Now, let us tell you whether or not today's market has given a performance worthy of applause…


Among the Nifty sectoral indices, Pharma (+1.0%) and FMCG (+0.2%) were the top gainers, while Realty (-1.1%) and Media (-1.0%) were the top losers.

Top gainers Today's change
Grasim 1,623 ▲ 29 (+1.8%)
RIL 2,238 ▲ 35 (+1.6%)
Cipla 889 ▲ 12 (+1.4%)

Top losers Today's change
Adani Ports 626 ▼ 11 (-1.7%)
SBI Life 1,099 ▼ 12 (-1.1%)
Power Grid 219 ▼ 2.5 (-1.1%)

What’s trending


⭐ L&T bags large orders

The infrastructure firm (-0.7%) has secured multiple orders for its power transmission and distribution business. The orders are in the range of ₹2,500 to ₹5,000 crore in India and overseas.

TVS Motor zooms to Africa

The automaker (+0.2%) has introduced seven new products in Ghana. The new model includes Apache 180, Neo NX and HLX series among others. The new product launch will cater to the customers’ needs and improve last-mile connectivity in African nations, as per management.

Arvind SmartSpaces sees strong sales

The real estate firm (+0.6%) announced that its newly launched project in Bangalore is fully sold out. This new project is valued at over ₹100 crore. As per a new industry report, housing sales in India’s top seven cities is expected to grow 14% YoY during the fourth quarter of FY23.

⭐ Gold loses its shine

Gold prices have started this week on a lower note. The prices were seen trading around ₹58,600 per 10 gram. The demand for the safe-haven asset has eased this week as uncertainty around the US and the European banking crisis appears to have subsided.


In Focus


Why are FMCG stocks in the spotlight?

Shares of leading FMCG players–ITC, Godrej Consumer and Varun Beverage–rose in the range of 1-4% in March. Meanwhile, so far in 2023, Nifty FMCG index has risen 2.3% compared to over 6% fall in Nifty50. Why are FMCG stocks in the spotlight? Let’s find out:

Easing price pressure

The recent decline in crude oil (-8.7%) and palm oil (-10.4%) prices could be beneficial for the FMCG players. This moderation in commodity prices could allow FMCG cos to cut product prices.

Recovery in rural demand

Last year, inflationary pressure impacted rural demand. However, if FMCG players take price cuts or grammage restoration, it could boost volumes, specifically in the rural regions.

Rural markets are a key growth area for FMCG companies and makeup 50% of the revenue. Along with this, a good rabi sowing season and anticipation of solid output (between April to May) could also boost rural demand.

Investors play defensive

Over and above this, amidst volatile market conditions, investors focus has also shifted towards defensive sectors. As a result, FMCG stocks have fallen far less than stocks from other sectors.


Powerful buying made simple!

Markets often see sharp price movements triggered by positive news or technical patterns. In such situations, you may want to double down on certain high-conviction trades. However, having limited capital could be an obstacle in leveraging such opportunities. With Margin Trading Facility (MTF) on Upstox, you can increase your trading capacity instantly. Click here to know more about MTF.

Benefits of MTF:

🔹Get 2X leverage on equity delivery orders

🔹Borrow up to ₹25,00,000 at a time

🔹Hold stocks bought via MTF for up to 365 days.


Phrase of the day

Going Long

When you buy a stock, futures or an option contract with the hope that its price will rise, it is called going ‘long’.  When should you go long, find out from this chapter What does going Long mean?

Click here to join us on Telegram for trading and investment-related videos, daily market updates, details on upcoming IPOs and more.

Categories: Market Recap