SENSEX gains over 130 pts, NIFTY50 flat in noon deals; Bajaj Electricals, Redington, Tata Motors among buzzing stocks

The Indian benchmark indices, SENSEX and NIFTY50, erased early gains to trade flat with a positive bias during the afternoon session on Tuesday, March 17. The markets were supported by buying in the capital market and metal stocks.

Furthermore, the market was bolstered by the US President Donald Trump hinting at optimism on a bilateral trade deal with India, along with gains in PSU Bank and media stocks.

The SENSEX advanced by as many as 511.46 points to an intraday high of 76,014.31 in early trade. Meanwhile, the NIFTY50 touched the session’s high of 23,577.55.

At 12:43 PM, the S&P BSE SENSEX rose by 137.50 points, or 0.18%, to 75,640.35. NSE’s NIFTY50 was trading at 23,446.85, marking a 38.05 points, or 0.16% increase.

On Monday, the foreign institutional investors (FIIs) sold stocks worth ₹9,365.52 crore, while the domestic institutional investors (DIIs) purchased equities worth ₹12,593.36 crore on a net basis, according to exchange data.

The top gainers of the NIFTY50 index included Eternal (4.55%), Mahindra & Mahindra (2.16%), Tata Steel (2.07%), HDFC Life Insurance Company (1.73%) and Hindalco Industries (1.41%).

On the contrary, Wipro (-2.48%), Bajaj Finance (-1.94%), Cipla (-1.85%), Adani Enterprises (-1.60%) and State Bank of India (-1.46%) were among the top losers.

Buzzing stocks on March 17: Check list

Shares of Gujarat Mineral Development Corporation Ltd (GMDC) and NMDC rose as much as 4% on Tuesday, March 17, as the two companies signed a memorandum of understanding (MoU) to explore opportunities for collaboration in the rare earth elements (REE) sector.

The MoU seeks to strengthen cooperation towards securing the critical mineral supply chain and developing a domestic integrated rare earth value chain covering exploration, mining, processing, separation and downstream manufacturing.

In an exchange filing, GMDC said that the companies will work together to look into opportunities for technical cooperation, project development and potential business structures. The deal is also likely to facilitate knowledge exchange, technical assessment and coordinated efforts towards advancing rare earth resource development.

Bajaj Electricals stock rallied as much as 10.27% to hit a high of ₹398 apiece in the early trade on the National Stock Exchange (NSE), a day after the company, on Monday, post-market hours, announced the signing of a definitive agreement to acquire the intellectual property and brand rights of Morphy Richards in India and select South Asian markets for a consideration of ₹141.4 crore.

"This landmark move builds upon more than two decades of successful collaboration under licensing agreements and enables Bajaj Electricals to fully own and steer the Morphy Richards portfolio in India, Nepal, Bhutan, Bangladesh, Sri Lanka, and the Maldives," the company added.

Shares of Redington slipped as much as 5.15% to ₹221 apiece on the NSE on Tuesday, March 17, after the company shared its business update following the geopolitical tensions in the Gulf region.

In its filing to stock exchanges, Redington said that it has been informed by its step-down subsidiary, Redington Gulf FZE, that due to the ongoing geopolitical tensions, its operations in the Gulf region are pursued in a restricted manner.

Revocation of war risk coverage by insurance providers for companies operating in the region; alternative arrangements are currently being evaluated.

Redington stated that the safety and well-being of Redington’s employees remain a top priority.

Andhra Cements' stock price jumped 9.24% to the session’s peak of ₹55.70 apiece as its parent company, Sagar Cements’ board of directors, on Monday approved the stake sale in Andhra Cement via an offer for sale (OFS).

In an NSE filing, Sagar Cements disclosed that the board has approved a 7.24% or up to 66,76,843 equity shares with the face value of ₹10 apiece, stake sale in its board meeting on Monday. The update was filed after the market operating hours on March 16.

Shares of Kalpataru Projects declined despite the company, along with its subsidiaries, bagging new orders worth ₹2,471 crore.

According to the company, it received one order for an underground metro rail project in India, which it secured via a joint venture/consortium.

It also won orders in the Power Transmission & Distribution (T&D) in India and the overseas market, along with orders in the Buildings and Factories (B&F) business in India.

Shares of Tata Motors Ltd (commercial vehicle arm) advanced as much as 2.1% to ₹446.85 apiece on the NSE on Tuesday, March 17, before slipping into the negative territory, as it announced a price increase of up to 1.5% across its commercial vehicle range, effective 1 April 2026.

The price increase is being undertaken to partially offset the impact of rising commodity prices and other input costs. The increase will vary depending on the model and variant.