NIFTY50 above 23,750, SENSEX jumps over 600 pts in noon deals; BEL, PFC, Urban Company among buzzing stocks

The Indian benchmark indices, SENSEX and NIFTY50, rallied during the afternoon session on Wednesday, March 18, bolstered by gains in IT stocks and positive cues in Asian markets, which were tracking a global decline in crude prices.

The SENSEX rallied by as many as 858.46 points to an intraday high of 76,929.30. Meanwhile, the NIFTY50 touched the session’s peak of 23,835.95.

At 12:38 PM, the S&P BSE SENSEX soared by 639.77 points, or 0.84%, to 76,710.61. NSE’s NIFTY50 stood at 23,772.55, marking 191.49 points, or 0.81% jump.

On Tuesday, the foreign institutional investors (FIIs) sold stocks worth ₹4,741.22 crore, while the domestic institutional investors (DIIs) purchased equities worth ₹5,225.32 crore on a net basis, according to exchange data.

The NIFTY50 index was supported by gains in Tech Mahindra (4.34%), Infosys (4.15%), HCL Technologies (3.85%), Jio Financial Services (3.68%) and TCS (3.09%), which were among the top winners.

On the other hand, the top losers were Coal India (-2.62%), NTPC (-1.20%), Cipla (-0.90%), HDFC Bank (-0.68%) and Hindustan Unilever (-0.59%).

Buzzing stocks on March 18: Check list

Shares of DEE Development Engineers declined as much as 10% to touch an intraday low of ₹281.80 apiece on the National Stock Exchange (NSE) on Wednesday, March 18, as the company informed the exchanges that the conflict in West Asia has impacted its export orders to its customers in the region.

In a regulatory filing dated Tuesday, the company stated that some of its shipments, scheduled for execution in the near term, are at risk of delay or non-fulfillment amid the ongoing military conflict in West Asia, which has led to a disruption in the Strait of Hormuz.

It added that the situation falls squarely within the ambit of force majeure under the terms of its export contracts.

“We have communicated formally with our affected overseas buyers in this regard and are working closely with them through this period,” the company noted.

The stock of Bharat Electronics (BEL) gained as much as 1.9% to ₹447.75 per equity share on the NSE in the early trade on Wednesday, as it secured additional orders worth ₹1,011 crore since the last disclosure on February 25, 2026.

In a regulatory filing on March 17, the company revealed that it received orders for communication equipment, radar warning and jamming systems, fire control systems, electro-optic sights, fire detection & warning systems for fighter aircraft, high-energy lasers, automatic train supervision systems, head-up displays, software solutions, jammers, shelters, strategic components, upgrades, spares, services, etc.

Godrej Properties shares surged as much as 3.14% to an intraday high of ₹1,633.90 per unit, after the company announced the acquisition of a nearly 20-acre land parcel in East Bengaluru.

The company plans to develop a premium residential project on this site with an estimated revenue potential of approximately ₹1,350 crore, "further strengthening its presence in one of the city’s most active residential micro-markets."

The land parcel is located near NH-648 Main Road, situated within the broader Whitefield growth corridor, a well-established residential and commercial zone that has evolved into a prominent hub for technology firms and service-led employment. Its proximity to the Whitefield–ITPL region and access to the NH-648 corridor provide convenient mobility across East and South Bengaluru.

Varun Beverages' stock advanced as much as 2.48% to the session’s peak of ₹416.45 per equity share, a day after it said that its South African subsidiary, Bevco, will acquire Crickley Dairy Proprietary for ₹131.47 crore.

The Beverage Company Proprietary Ltd (Bevco) "has executed an agreement dated March 17, 2026, for the acquisition of a 100 per cent equity stake of Crickley Dairy Proprietary Ltd, which is incorporated in South Africa", said a regulatory filing by Varun Beverages Ltd (VBL).

It will acquire it from Clark Holdings Proprietary Ltd, the parent entity of Crickley Dairy Proprietary.

Its board of directors also fixed Monday, March 23, 2026, as the record date for the purpose of ascertaining the eligibility of shareholders for payment of the fourth interim dividend for FY26, a regulatory filing stated.

The date of payment of the aforesaid interim dividend shall be on or before April 16, 2026, it added.

The company’s board also approved a borrowing plan of ₹1,60,000 crore in the 2026-27 fiscal year. It stated that the company may borrow up to ₹1,60,000 crore in FY27, excluding funds raised under extra budgetary resources (EBR), subject to the borrowing limits as approved by the shareholders through different sources in one or more tranches/series.

The ₹1,60,000 crore borrowing will include ₹1,00,000 crore in the form of bonds, securities, long or medium-term instruments, and term loans.

The stock of Adani Power fell as much as 2.76% to hit an intraday low of ₹151.30 on the NSE, after the company informed exchanges that it has made changes to its senior management.

Adani Power informed exchanges that its company secretary and compliance officer, Deepak S Pandya, will cease to be the company secretary of the company with effect from March 31, 2025, as he will be superannuating from the services of the company.

The firm has meanwhile appointed Puneet Bansal as the company secretary and compliance officer with effect from April 1, 2026.

Shares of Swan Defence hit the lower circuit, dropping 5% after the opening bell on Wednesday, as the firm’s board approved the promoter stake sale via the OFS route.

"This is to bring to your notice that the pre-dealing application as submitted by Hazel Infra Limited, promoter of the company, for the disposal of up to 26,38,747 nos. equity shares of Swan Defence and Heavy Industries Limited has been approved," the company informed the stock exchange through its filing.

Swan Defence and Heavy Industries’ promoter company, Hazel Infra Limited, has decided to sell up to 26,38,747 or more than 26 lakh equity shares with a face value of ₹10 apiece, representing 5.01% of the total paid-up capital of the company, according to the NSE filings.

Data show that the fund house on Tuesday bought 3,50,63,090 shares of Urban Company at an average price of ₹109.85 apiece on the NSE.

On the BSE, SBI MF has bought 2,24,93,959 shares at ₹109.83 apiece on the BSE. This suggests that SBI Mutual Fund has bought an additional 4% stake in the company for ₹632 crore.