NIFTY50 above 23,200, SENSEX jumps over 650 pts in noon deals; RIL, NTPC, SBI among buzzing stocks

The Indian benchmark indices, SENSEX and NIFTY50, rallied during the afternoon session on Friday, March 20, supported by buying in PSU banks, commodities, and metal stocks. Furthermore, stabilising crude oil prices also improved investor sentiment.

The SENSEX soared by as many as 1,079.15 points to an intraday high of 75,286.39. Meanwhile, the NIFTY50 touched the session’s high of 23,345.15.

At 12:48 PM, the S&P BSE SENSEX was trading higher by 674.05 points, or 0.91%, to 74,881.30. NSE’s NIFTY50 stood at 23,223.85, reflecting a 221.70 points, or 0.96% jump.

On Thursday, the foreign institutional investors (FIIs) sold stocks worth ₹7,558.19 crore, while the domestic institutional investors (DIIs) purchased equities worth ₹3,863.96 crore on a net basis, according to exchange data.

Buzzing stocks on March 20: Check list

Shares of Samvardhana Motherson International (SAMIL) surged as much as 3.13% to an intraday high of ₹115.25 apiece in early trade on Friday, March 20, as its board of directors approved executing a joint venture (JV) agreement with Hellmann Worldwide Logistics (MESA) Holding Limited.

In a regulatory filing dated March 19, the company said that at a meeting on Thursday, its board approved the execution of a JV agreement with Hellmann Worldwide Logistics (MESA) Holding Limited, a company duly incorporated and existing under the laws of Dubai International Financial Centre, United Arab Emirates (UAE).

It added that the strategic relationship will be operationalised through the establishment of a new joint venture in Dubai, UAE, with SAMIL holding a 51% stake and Hellmann holding the remaining 49% stake.

In a separate regulatory filing dated Thursday, SAMIL stated that its board approved the declaration of an interim dividend of ₹0.35 per equity share, with a face value of ₹1 each, for the 2025-26 financial year (FY26) to the equity shareholders of the firm. Furthermore, it fixed Friday, March 27, 2026, as the record date for the payment of the aforementioned interim dividend.

Reliance Industries (RIL) stock rose as much as 3.91% to the session’s peak of ₹1,430 per equity share on the National Stock Exchange (NSE), as its telecom arm, Reliance Jio, topped the list of broadband subscribers (wired and wireless combined), with 51.75 crore users, followed by Airtel (35.92 crore) and Vodafone Idea (12.89 crore) as of January 31, 2026.

Given its sheer numbers, Jio accounted for over 49% of India's broadband services market, with Airtel's market share at 34.13%.

The stock also gained as crude oil prices stabilised in international markets after witnessing wild swings in the previous session. Lower crude oil prices augur well for oil refiners as they help them maintain a higher gross refining margin, a key measure of profitability for an oil refiner. RIL operates the world's largest refining complex in Jamnagar.

Shares of NTPC Ltd advanced as much as 2.47% to ₹383.30 per unit on the NSE on Friday, as it signed a Memorandum of Understanding (MoU) with Octopus Energy Group, a leader in clean energy and digital energy platforms, to explore strategic collaboration across the power and energy sector.

The MoU was signed on the sidelines of the Bharat Electricity Summit 2026, being held from March 19 to March 22, 2026.

NTPC said in its press release that the MoU establishes a non-binding framework for cooperation aimed at identifying, assessing, and pursuing opportunities in electricity distribution and retail, renewable energy and storage, electric vehicle (EV) charging infrastructure, digital energy platforms, innovation, research and development, and capacity building.

The stock of HDFC Bank continued to trade in negative territory, falling as much as 2.45% to the session’s low of ₹778.65 per equity share on March 20.

The share came under selling pressure after HDFC Bank’s non-executive chairman, Atanu Chakraborty, abruptly resigned on March 18, citing differences over “values and ethics” – a ground that the management of the country’s second-largest lender said was baffling, as the former bureaucrat offered no specific instance despite repeated requests.

Keki Mistry, a veteran of the HDFC Bank Group, was appointed as the interim chairman following the resignation and said there may have been “relationship issues” between Chakraborty and the executive leadership, but found no “substantive” concerns behind the departure.

Tata Power Company shares rallied as much as 5% to hit a high of ₹418.45 apiece on the NSE, as, according to news reports, Gujarat has approved a revised power supply pact with Tata Power, clearing the way for long-term electricity supply to resume ‌from its 4-gigawatt Mundra plant.

News reports said the imported coal-fired plant has remained shut for the past six months after the government last year withdrew the emergency clause that compensated companies for generating power using expensive imported coal.

Natco Pharma stock rallied as much as 3.67% to an intraday high of ₹972.50 apiece, as it announced the launch of Semaglutide generic injection multi-dose vials in India at the “most affordable price” starting from ₹1,290.

It will be launched on Saturday, March 21, on Day 1 of patent expiry, the company stated.

NATCO received Central Drugs Standard Control Organisation (CDSCO) approval to manufacture and market generic Semaglutide in India in February’26 for multi-dose vials and pen device based on the clinical comparison study.

Furthermore, its board of directors is set to meet next week on Tuesday, March 24, to consider, “among other things”, the Scheme of Arrangement for the demerger of Agrochemicals Division on a going concern basis into its wholly owned subsidiary, Natco Crop Health Sciences Limited.

Shares of SBI gained as much as 3.44% to the day’s peak of ₹1,085 per unit, as SBI Mutual Fund, a joint venture between State Bank of India (SBI) (63%) and Amundi (37%), on Thursday filed preliminary papers with capital markets regulator SEBI to raise funds through an initial public offering (IPO).

The proposed maiden public offering is entirely an offer for sale (OFS) of up to 20.37 crore equity shares, with no fresh issue component, according to the draft red herring prospectus (DRHP).