SENSEX zooms over 1,600 pts, NIFTY50 above 23,000 in noon deals; Suzlon, HDFC Bank among buzzing stocks

Benchmark indices, SENSEX and NIFTY50, continued trading in the green zone during the afternoon session on Tuesday, March 24, driven by positive global cues and easing geopolitical tensions.

On Monday, US President Donald Trump, on Truth Social, announced that the United States will postpone “any and all” military strikes against Iranian power plants and infrastructures for a period of five days.

The US President said that both sides over the last two days engaged in “very good and productive” conversations regarding a “complete and total resolution” of hostilities in the Middle East.

He noted that the conversations will continue through the week and added that the five-day halt in military strikes was subject to the success of the ongoing meetings and discussions.

The SENSEX rallied by as many as 1,667.28 points to an intraday high of 74,363.67, while the NIFTY50 touched the session’s high of 23,026.10.

At 12:54 PM, the S&P BSE SENSEX was trading higher by 1,610.45 points, or 2.32%, at 74,306.84. NSE’s NIFTY50 stood at 23,012.40, reflecting a 499.75-point, or 2.22% surge.

On Monday, the foreign institutional investors (FIIs) sold shares worth ₹10,414.23 crore, while the domestic institutional investors (DIIs) bought equities worth ₹12,033.97 crore on a net basis, according to exchange data.

The NIFTY50 index was bolstered by buying in the shares of Shriram Finance (6.03%), Eternal (5.37%), InterGlobe Aviation (4.96%), Larsen & Toubro (4.12%) and Apollo Hospitals Enterprise (3.96%).

On the other hand, Coal India (-2.05%) and Power Grid Corporation of India (-0.88%) were the only two constituents in the index trading in the red.

Buzzing stocks on March 24: Check list

Shares of auto companies were trading in positive territory on Tuesday, March 24, amid an across-the-board buying in markets following Trump's hints at de-escalation in the war with Iran after the conflict entered the fourth week.

The NIFTY AUTO index jumped as much as 2.4% to hit a high of 24,509.65 levels on the NSE in early trade.

The announcement by the US president that the country has decided to halt strikes on Iran temporarily provided a much-needed boost to the investor sentiment across the globe, including India.

The announcement triggered a sharp decline in crude oil prices, a key input for several sectors, offering broad cost relief across the economy.

The stock of Tata Power surged as much as 2.08% to hit an intraday high of ₹395 per unit, before trading flat on the National Stock Exchange (NSE).

This comes as the Tata Group firm’s arm, Coastal Gujarat Power Ltd (CGPL), which operates the Mundra plant, signed supplementary power purchase agreements (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL).

According to a regulatory filing dated Tuesday, the company said that it will also sign similar supplementary PPAs with Maharashtra, Rajasthan, Punjab, and Haryana.

"With reference to the temporary suspension of company operations of its units located at Mundra, we hereby inform you that the Company has executed a Supplementary Power Purchase Agreement for Tata Power Mundra Plant with GUVNL (Gujarat)," Tata Power said.

Suzlon Energy shares gained 3.4% to touch an intraday high of ₹41.30 apiece, as the firm bagged its sixth order from GAIL.

“Enhancing its strategic focusing the PSU segment, Suzlon Group, India’s leading renewable energy solutions provider, today announced its sixth wind energy project of ~100 MW from Gas Authority of India Limited (GAIL),” the company said in a regulatory filing.

Suzlon Energy said it is the firm’s fourth PSU order for the financial year 2026.

Asian Paints stock rallied as much as 4.42% to the session’s peak of ₹2,215 per equity share, following reports that suggested that the company is likely to undertake price hikes going ahead.

The company has undertaken a price hike to mitigate higher crude oil prices, as petroleum products are among the key raw materials required to manufacture paints.

Global investment bank Macquarie in a note said that the first price hike will take effect from April 10 for emulsions, enamels, primers, distempers and neo Bharat range. Price hike has also been taken in thinners effective April 10 and is significantly higher.

Further, another price hike of 6-8% will be effective from April 21 across the rest of the portfolio. This includes categories of smart care waterproofing, tile adhesives, wood finishes, etc., Macquarie noted.

Shares of HDFC Bank advanced as much as 2.5% to an intraday high of ₹762.70 per unit on the NSE, after the company appointed external domestic and international law firms to review the resignation letter of non-executive chairman Atanu Chakraborty, who had quit abruptly citing differences over "values and ethics".

The bank, in an exchange filing on March 24, said that Chakraborty, in his resignation letter, did not mention any happenings and practices which were "not in congruence with his personal values and ethics".

"To reinforce the robust governance standards of the Bank, the Board of Directors of the Bank at its meeting held on March 23, 2026, took a proactive step and approved the appointment of external law firms (domestic and international), to conduct review regarding Mr. Chakraborty’s resignation letter," HDFC Bank said.

The stock of Kalpataru Projects gained as much as 5.4% to the day’s high of ₹1,073.10 per equity share on Tuesday, after the company secured a ₹4,439 crore power transmission order.

In a regulatory filing, the company said it “secured notification of awards / comfort letters / confirmation of consummation of contract of approx. ₹ 4,439 crores in the Transmission and Distribution (T&D) business.”

Shares of Indian Railway Finance Corporation Limited (IRFC) climbed as much as 4% to ₹93.10 apiece on the NSE, as it signed a major rupee term loan agreement with Hindustan Urvarak and Rasayan Limited (HURL) for the refinancing of its existing long-term debt up to ₹12,842 crore.

IRFC said in its press release that this transaction represents one of IRFC’s largest refinancing initiatives and marks a significant step forward in advancing its strategic vision under IRFC 2.0, anchored in a whole-of-government approach.

The refinancing is expected to deliver substantial value to HURL through competitive financing terms and an optimised repayment structure aligned with its operational cash flows.