On March 3, 2025, India’s stock market witnessed notable movements, with TVS Motor, AstraZeneca Pharma, and L&T leading the gainers, while Coal India, IOB, and Angel One faced significant losses. TVS Motor surged 4.79% on strong sales, AstraZeneca Pharma gained 3% after regulatory approval, and L&T rose 1.09% on securing large orders. Conversely, Angel One dropped 8.77%, IOB declined 4.23% due to a ₹699.52 crore GST notice, and Coal India fell 2.37% on weak production data. Despite the correction, market outlook remains cautiously optimistic.
Top Gainers on March 3, 2025
TVS Motor Company (Tamil Nadu, India) – Up 4.79%
TVS Motor Company, one of India’s leading two-wheeler manufacturers, saw its shares rise after reporting strong February 2025 sales, which grew 10% YoY to 4,03,976 units. The broader auto sector also showed positive movement, with M&M, Ashok Leyland, and Eicher Motors gaining up to 4%.
AstraZeneca Pharma India (Karnataka, India) – Up 3%
The Bengaluru-based subsidiary of AstraZeneca saw its stock price rise to ₹6,890 after securing regulatory approval from the Central Drugs Standard Control Organisation (CDSCO) for expanding the use of Imfinzi (Durvalumab) to treat unresectable hepatocellular carcinoma (uHCC), a form of liver cancer.
Larsen & Toubro (Maharashtra, India) – Up 1.09%
Shares of L&T, India’s engineering and construction giant, surged 1.09% after its Power Transmission & Distribution business secured orders worth ₹2,500-5,000 crore in India and international markets. The company classified these as “large” orders, driving investor confidence.
UltraTech Cement (Maharashtra, India) – Up 2.17%
UltraTech Cement, a part of the Aditya Birla Group, was among the top Nifty 50 gainers despite weak market conditions. The company’s investor call insights—including a new strategy for entering the cables and wires segment—boosted its stock price.
Polycab India (Gujarat, India) – Up 3.47%
Shares of Polycab India gained despite market pressure. The uptick was supported by UBS, which reaffirmed its ‘Buy’ rating, though it lowered the target price from ₹9,000 to ₹7,700.
Top Losers on March 3, 2025
Coal India (West Bengal, India) – Down 2.37%
State-owned Coal India faced a 4% decline after February production numbers fell 0.8% YoY to 74.1 million tonnes (MT). With only 83% of its FY25 production target achieved, meeting the annual goal appears challenging, causing investor concern.
Indian Overseas Bank (IOB) (Tamil Nadu, India) – Down 4.23%
Chennai-based IOB dropped 5.7%, hitting a 52-week low of ₹41.01, after it received a demand notice of ₹699.52 crore for alleged GST liabilities from FY 2020-21. The notice included a ₹35.26 crore penalty, leading to further investor sell-offs.
Angel One Ltd (Maharashtra, India) – Down 8.77%
Shares of Angel One, a Mumbai-based brokerage firm, slumped 8.77% to ₹1,952.25, extending its six-day losing streak. The ongoing sell-off in financial stocks, driven by global trade tensions and foreign investor outflows, led to a 17% drop over six days.
GAIL (Delhi, India) – Down 1.40%
GAIL (India) Ltd declined 1.5% as Nifty Oil & Gas emerged as the worst-performing sector, down over 2%. Heavyweights like RIL, ONGC, and Indian Oil also dragged the index lower.
Despite the ongoing market correction, domestic indicators remain positive, pointing to a possible rebound as economic growth stabilizes. However, global trade concerns and investor sentiment will continue to dictate the market’s next moves.
