🇮🇳 India Daybook: NBCC Bags Mega Order, Ola Electric Sales Slump

📍 ORDER WIN

• NBCC India: The state-owned construction firm has bagged a large-scale redevelopment order. The project further strengthens its order book in the urban infrastructure and redevelopment space.

📍 NEW PROJECT

• Brigade Enterprises: The real estate developer has unveiled its latest residential project, "Stellaris," located in Chennai. This launch is part of the company’s aggressive expansion strategy in the South Indian market.

📍 SALES UPDATE

• Ola Electric: The company recorded its weakest monthly dispatches of the year in February, selling only 3,968 units—a 47% decline month-on-month. Consequently, it has slipped out of the top five electric two-wheeler players, ceding market share to rivals like Greaves Electric.
• Maruti Suzuki: The auto major announced that its production lines are currently operating at over 100% capacity. Despite the high output, domestic demand continues to outpace the company's current manufacturing ability.

📍 CORPORATE ACTION

• Altius Telecom Infrastructure Trust: Today, March 02, is the record date for determining shareholder eligibility for the upcoming income distribution.
• HealthCare Global Enterprises: The company has set today as the record date for its rights issue of equity shares.
• Varvee Global: The stock will be in focus as today is the record date for its 1:2 stock split (face value reduction from Rs 10 to Rs 5).
• SBI Life & Engineers India: These stocks remain in focus ahead of their March 6 record dates for interim dividends of Rs 2.70 and Rs 1.50 per share, respectively.

📍 GEOPOLITICAL UPDATE

• Adani Power: In a positive development for the company, the new government in Bangladesh has officially confirmed that it will not cancel the 2017 power purchase agreement. The BNP-led administration stated it intends to honor the existing deal to ensure energy security.

📍 ANALYST VIEW

• Siemens: Analysts have issued a 'Buy' recommendation with a target of Rs 3,600, noting a decisive breakout above the Rs 3,400 resistance zone.
• IOC & ONGC: Both PSU energy stocks have received 'Buy' ratings following consistent "higher-high, higher-low" formations on daily charts, indicating a steady uptrend despite broader market volatility.

TAGS: India Daybook, Stocks in News, Corporate News, Stock Market, Company News

Tags: India Daybook Stocks in News Corporate News Stock Market Company News