Market News:
Ruchi Soya gains as FPO issue opens on March 24th
ONE97 Communications down as RBI curbs on Paytm Payments Bank
Welspun India subsidiary commences operations at Telangana Unit
Government source: May seek initial bids for IDBI Bank stake sale by April-end
Fertilizer companies gains on prospects of higher Urea prices
Power Mech got order worth 2120 Cr
L&T got significant orders for water,effluent tratment business.
India February WPI Core Inflation rate 10 % vs 9.7% in January
PNC INFRATECH is the lowest bidder for 700 Cr Project
Dhanlaxmi Bank Board to consider raising funds via Rights issue on 17th March
TRF Ltd Board approves raising up to 260 Cr via preference shares.
Persistent Systems to acquire MediaAgility for $71.71mln
RELIANCEINDUSTRIES subsidiary to acquire assets of Lithium Werks BV
Avantel gets orders worth 126 Cr for supply of loco devices
RITES to pay 7.50 Rs/share interim dividend.
Paytm CEO denies report of payments bank data leak to Chinese companies.
🙏Morning Updates🙏
World Markets @ 8.30
SGX Nifty 16860 -34Pts -0.20%
NIKKEI +0.31%
HANG SENG -1.60%
US30 FUT +0.17%
Important News/Data/Events
US FOMC Meeting begins
Several cities in China imposed lockdown due to surge in COVID cases
FII/DII Trade Summary%
Cash Segment
FII/FPI Net -176 Cr
DII Net +1098 Cr
Index FUT +568 Cr
Index OPT +1997 Cr
Securities in F&O Ban for 15-03-2022
Board Meetings of:
+ Modulex Construction Technologies, to consider right issue of equity shares.
+ Mold Tek Technologies, to consider declaration of dividend.
+ Spv Global Trading, to consider rights issue.
* US - US equity indices ended lower on Monday as investors remained wary of developments around the Ukraine-Russia war and the likely interest rate hike by the US Federal Reserve later this week.
* Asia - Major equity indices in Asia continued their slide tracking the overnight fall in US equities as investors focus on the Federal Reserve's open market committee which is likely to announce a rate hike this week at its meeting.
* Life Insurance Corp of India's draft red herring prospectus received the Securities and Exchange Board of India's approval on 11th March.
* ECONOMY: The government has presented the third and final Supplementary Demands for Grants, seeking Parliament's approval to spend a net additional 1.074 trln rupees in the current financial year ending March.
The government has received multiple initial bids for the privatisation of HLL Lifecare, Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey said in a tweet.
* EXCHANGES: A court in the capital has sent former chief executive officer and managing director of National Stock Exchange Chitra Ramkrishna to 14-day judicial custody till Mar 28 in the co-location case.
* OIL AND GAS: The government is closely monitoring global energy markets as well as potential supply disruptions due to the Russia-Ukraine conflict, and is ready to take appropriate action to mitigate market volatility and calm the rise in crude oil prices, Rameswar Teli, junior petroleum minister, said.
* PHARMACEUTICALS: The Department of Pharmaceuticals has extended till March end the deadline for applications for vacant slots under the production-linked incentive scheme for bulk drugs on the request of industry bodies.
* ADANI POWER: The Adani Group has partnered with energy transitions firm Greenko Group to utilise standalone long-duration hydro energy storage capacity to supply round-the-clock energy to Adani Group's facilities in India.
* AVANTEL: The company has got an order worth 126 Cr for supply of loco devices to implement real-time train information system phase 2.
* BAJAJ HINDUSTHAN SUGAR: The Uttar Pradesh Electricity Regulatory Commission has reduced the capital cost of Bajaj Hindusthan's Lalitpur thermal power unit by 3022 Cr. This will reduce state-run discom Uttar Pradesh Power Corp's cost of electricity purchase from the plant by 28 paise or 13.5%, and save 550 Cr annually. The relief will be available for the discom for 20 years.
* BHARAT HEAVY ELECTRICALS: Has dispatched a nuclear steam generator for an under-construction 700 MW electric reactor at Nuclear Power Corp of India's Rajasthan Atomic Power Project.
* DLF: Has pre-leased one mln sq ft of office space at its DLF Downtown project in Chennai to Standard Chartered Global Business Services.
* EDELWEISS FINANCIAL SERVICES: Edelweiss Financial Services has sold the remaining 9% stake in Edelweiss Gallagher Insurance Brokers to Arthur J Gallagher & Co.
* HERO MOTOCORP: The Supreme Court has declined to exempt the company from participating in the arbitration with Hero Electric Vehicles Pvt Ltd over the "Hero" trademark. On Feb 17, the Delhi High Court had referred the issue to an arbitration panel headed by former top court judge Justice Indu Malhotra.
* KOTAK MAHINDRA BANK: Has been hit by the highest number of frauds at 642, involving 100,000 rupees and above, in the first nine months of 2021-22, Parliament was informed on Monday.
* ONE97 COMMUNICATIONS: Paytm Chief Executive Officer Vijay Shekhar Sharma has refuted a report by Bloomberg which claimed that the inspection by the Reserve Bank of India found that the servers of Paytm Payments Bank were sharing information with China-based entities that indirectly own a stake in the payments bank.
* PERSISTENT SYSTEMS: Will acquire US-based MediaAgility Inc along with its subsidiaries for $71.71 mln.
* RELIANCE COMMUNICATIONS: Four financial institutions, including two Chinese banks, have written to Finance Minister Nirmala Sitharaman and the Insolvency and Bankruptcy Board of India seeking their intervention to speed up the resolution process of Reliance Infratel, the tower arm of the company.
* RELIANCE INDUSTRIES: Said its renewable energy subsidiary Reliance New Energy is set to acquire the assets of Dutch company Lithium Werks BV for $61 mln.
* RITES: To pay 7.50 rupees interim dividend.
* TECH MAHINDRA: The company and German data processing company Celonis have together launched new solutions that will help accelerate digital transformation for the former’s customers, the company said in a press release. These solutions include application service monitoring, a digital customer service accelerator, and a business support systems transformation accelerator.
* UCO BANK: Plans to raise up to 500 Cr through the issuance of Basel-III-compliant tier-II bonds maturing in 10 years and has invited bids for the same on Wednesday, sources said.
* WIPRO: Entered into a partnership with Germany's Speira for scalable information technology solutions.
Rategain Travel got order from Rakuten Travel Xchange
Godrej Properties bought 50 acres land in Sonipat, Haryana for residential projecgtx
Paytm denies report of data leak to Chinese companies
Indiabulls Housing Sameer Gehlaut resigned as director
Ruchi Soya board to consider price band for FPO on 17th March