Stock market today: The equity benchmark indices were trading in the red in the afternoon deals on Wednesday, March 12.
At 12:40 PM, the S&P BSE SENSEX was trading at 73,723.58, down 378.74 points, or 0.51%, while the NSE's NIFTY50 index was trading at 22,360.30, down 137.60 points, or 0.61%.
Here is a list of stocks that are buzzing in today's trade.
Infosys, other IT stocks:
Infosys, along with other IT stocks, was trading in the red. Infosys shares slipped nearly 6% to ₹1,563.80 apiece on the NSE after Morgan Stanley raised concerns regarding the company's growth outlook and the stock's stretched valuations.
The NIFTY IT index was down over 4%. All the 10 constituents were trading in negative territory.
READ MOREKaynes Technology India: Shares of
Kaynes Technology India, the Bengaluru-based electronic products maker, tanked as much as 9.1% to ₹3,898 apiece on the NSE on Wednesday, March 12, after the company on Tuesday informed exchanges that its managing director, Ramesh Kunhikannan, received a show-cause notice from the market regulator, the Securities and Exchange Board of India (SEBI).
The notice alleges suspected violations in the maintenance of the structured digital database (SDD) pertaining to financial results for the period ended March 31, 2023, as per SEBI (Prohibition of Insider Trading) Regulations, 2015 (hereinafter referred to as “PIT Regulations”).
PB Fintech: Shares of PB Fintech, the parent company of PolicyBazaar, slipped as much as 8.16% to ₹1,349 apiece on the NSE on Wednesday, March 12, after the company on Tuesday said it proposes to infuse ₹696 crore in its subsidiary PB Healthcare Services in the next financial year (FY26) to grow its business.
It further said that the capital infusion would be done to meet its general operating expenses and enhance brand awareness, office presence, and strategic initiatives.
IndusInd Bank: Shares of IndusInd Bank, the private sector lender, were trading in the green in the early trade on Wednesday, March 12, a day after the lender's shares tumbled 27%, following the report of an accounting discrepancy.
The stock jumped as much as 5.9% to ₹694.70 apiece on the NSE.
In a stock exchange filing, private sector lender IndusInd Bank on Monday disclosed that the bank has noted some discrepancies in its derivatives portfolio, which could have an adverse impact of about 2.35% of the bank's net worth as of December 2024 as per its internal review.
Analysts peg the discrepancy at ₹2,100 crore in absolute terms.
READ MOREBharti Airtel: Shares of Bharti Airtel were trading nearly 1% lower at ₹1,646.90 apiece on the NSE, a day after the company signed an agreement with Elon Musk's SpaceX to offer Starlink's high-speed internet services to its customers in India.
In an exchange filing on Tuesday, Airtel said that its agreement with SpaceX is subject to the US-based company receiving authorisations to sell Starlink in India.
READ MOREGodrej Agrovet: Shares of Godrej Agrovet, a diversified, R&D-focused agri-business company, part of the Godrej Group, surged as much as 4.2% to ₹767.10 apiece on the NSE on Wednesday, March 12, as the company on Tuesday decided to acquire the residual 48.06% stake in Hyderabad-based milk procurement and processing company Creamline Dairy Products for ₹930 crore.
However, the stock erased its early gains, and when last seen, it was trading at ₹736.80, up 0.10%.
Nykaa: FSN E-Commerce Ventures Limited, the parent company of Nykaa, was trading 2.68% lower at ₹161.34 apiece on the NSE.
On Tuesday, the company said it has incorporated a new wholly owned subsidiary, ‘Nykaa Essentials Private Limited.’ FSN holds a 100% stake in Nykaa Essential, it said in a regulatory filing on March 11.
SEPC Ltd: Shares of the company, which is engaged in civil construction, were trading 12% higher at ₹14.37 apiece on the BSE.
In an exchange filing, the company said it has executed a framework agreement with M/s ROSHN Group Company, Riyadh, Kingdom of Saudi Arabia (KSA), to carry out infrastructure works in KSA. SEPC has bid for infrastructure works in three zones of Jeddah North, Phase 1A for about SAR 893 million (approx. ₹2200 crore).
"Based on the signing of the Framework Agreement, orders (called call-off orders) can be expected for a minimum of one zone out of the three zones," it added.
Zomato: Shares were trading 2.61% lower at ₹202.64 apiece on the NSE. Deepinder Goyal, the chief executive officer of food delivery giant Zomato, has invested $20 million in LAT Aerospace, a startup founded by Zomato’s former chief operating officer Surobhi Das, reported The Economic Times.
Goyal will take on a non-executive role at LAT Aerospace, while Das will oversee day-to-day operations, according to the report.
Gujarat State Petronet: The stock was trading over 5% higher at ₹288.30 on the NSE. Gujarat State Petronet is focused on natural gas transmission infrastructure, operating a pipeline network across Gujarat and connecting supply sources to demand centres. They also engage in city gas distribution, natural gas trading, and electricity generation through windmills.
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