Global Cues
U.S. Dollar Index at 103.9
U.S. 10-year bond yield at 3.48%
Brent crude up 0.11% to $73.05 per barrel
Nymex crude at $66.82 per barrel
SGX Nifty down 0.57% at 17,063.5 as of 8:10 a.m.
Bitcoin down 0.85% to $27,736.38
Pledge Share Details
Emami: Promoter group Suraj Finvest created a pledge of 1.6 lakh shares, promoter group Diwakar Finvest created a pledge of 12.1 lakh shares on March 14.
Cigniti Technologies: Promoter group C Rajeshwari invoked a pledge of 3 lakh shares, promoter and director invoked a pledge of 3 lakh shares on March 16.
Insider Trading
LG Balakrishnan & Bros: Promoters LG Sports bought 1,000 shares, LGB Auto Products bought 9.843 shares between March 15-16.
Maharashtra Seamless: Promoter and director Dharam Pal Jindal bought 29,500 shares, promoter Raghav Jindal bought 5,189 shares on March 16.
Mukand: Promoter group Baroda Industries bought 33,274 shares between March 15-16.
Greaves Cotton: Promoter Karun Carpets bought 1 lakh shares between March 16-17.
Sunteck Realty: Promoter Matrabhav Trust, through its trustees Kamal Khetan and Manisha Khetan, bought 22,899 shares between March 15-16.
Rajratan Global Wire: Promoter group Rajratan Resources 14,000 shares between March 15-16.
Zydus Wellness: Promoter Zydus Family Trust bought 12,260 shares on March 16.
Bajaj Finserv: Promoter group Bajaj Sevashram bought 6.69 lakh shares, promoter group Kamalnayan Investment and Trading bought 1.38 lakh shares, promoter group Niraj Holdings bought 1.41 lakh shares, promoter group Rishabnayan Bajaj sold 38,000 shares, promoter group Deepa Bajaj sold 1.25 lakh shares, promoter group Rishab Family Trust sold 7.69 lakh shares between March 14-15.
Meghmani Finechem: Promoter Maulik Jayantibhai Patel bought 2,000 shares on March 16.
Block Deals
Elpro International: IGE (India) bought 18 lakh shares (1.06%), Yamini Dabriwala sold 18 lakh shares (1.06%) at Rs 59 apiece.
Bulk Deals
Biocon: AHAN-I sold 1.89 crore shares (1.58%) at Rs 200.74.
Choice International: Scoutbit General Trading LLC bought 9.94 lakh shares (1%) on NSE and 11.88 lakh shares (1.19%) on BSE at Rs 255 apiece.
Delhivery: Vanguard bought 95.61 lakh shares (1.31%) at Rs 323.07 apiece, Integrated Core Strategies (Asia) sold 39.27 lakh shares at Rs 320.83 apiece, Internet Fund III sold 55.14 lakh shares (0.76%) at Rs 321.21 apiece.
Equitas Small Finance Bank: Vanguard Total International Stock Index Fund bought 57.19 lakh shares (0.52%) at Rs 68.01 apiece, Norges Bank on account of The Government Pension Fund Global bought 87.7 lakh shares (0.79%) at Rs 67.96 apiece, Integrated Core Strategies (Asia) sold 66.4 lakh shares (0.6%) at Rs 67.99 apiece.
Jaiprakash Power Ventures: Vanguard Total International Stock Index Fund bought 3.67 crore shares (0.53%) at Rs 6.08 apiece.
Jindal Stainless: Norges Bank on account of The Government Pension Fund Global bought 28.21 lakh shares (0.54%) at Rs 292.51 apiece, Integrated Core Strategies (Asia) sold 37.64 lakh shares (0.72%) at Rs 292.04 apiece.
Reliance Infrastructure: Vanguard Total International Stock Index Fund bought 20.12 lakh shares (0.57%) at Rs 148.7 apiece, Integrated Core Strategies (Asia) sold 20.12 lakh shares (0.57%) at Rs 148.46 apiece.
Stocks To Watch: Adani, Patanjali, NTPC, Tata Consumer, HDFC, Rail Vikas Nigam In Focus
Patanjali Foods: The company clarified that it is planning to float another follow-on public offer to meet the minimum public shareholding but is considering all modes for this purpose, including an offer for sale and/or qualified institutions placement.
Tata Consumer Products: The company ceased negotiations with Bisleri over a potential transaction. It said no definitive agreement or binding commitment has been signed on this matter.
NTPC: The Cabinet Committee on Economic Affairs exempted NTPC’s investment in NTPC Green Energy from the existing guidelines for delegation of power to Maharatna CPSEs, allowing the company to invest over the prescribed limit.
HDFC: The RBI imposed a monetary penalty of Rs 5 lakh on the company on account of certain regulatory violations. The company said it will take the necessary steps to comply with the order.
Rail Vikas Nigam: The company was selected as the lowest bidder for a composite package of four contracts related to the new broad gauge railway line of the Haryana Orbital Rail Corporation project, jointly worth Rs 1,088.49 crore.
Navin Fluorine International: Navin Fluorine Advanced Sciences, a wholly owned subsidiary of the company, will set up a new 40,000 tonnes per annum hydrofluoric acid capacity at Dahej at a cost of Rs 450 crore.
Havells India: The company started commercial production of air conditioners at its facility in Sri City, located in the Chittor district of Andhra Pradesh.
Garware Technical Fibres: The company entered an agreement with TP Bhaskar Renewables to acquire and/or subscribe to 26% of the latter for Rs 4.5 crore.
Adani Transmission: The company incorporated a wholly owned subsidiary, Adani Electricity Nashik, to apply for a parallel distribution license in the Nashik area.
SKF India: The company acquired a 26% stake in Cleanmax Taiyo by acquiring 2,600 shares at a face value of Rs 10 each. The acquisition is meant to reduce energy costs and greenhouse gas emissions, and source renewable energy.
Torrent Pharmaceuticals: The U.S. FDA issued one observation after the pre-approval inspection of the company’s oral-oncology manufacturing facility at Bileshwarpura, Gujarat, from March 13 to March 17.
Bharat Petroleum Corporation: Krishnakumar Gopalan was appointed and has taken over the reins as chairman and managing director of the company.
Aditya Birla Fashion and Retail: Credit rating agency Crisil revised its rating for the company’s long-term loans to ‘AA+’ from ‘AA’, with a stable outlook.
SGX Nifty Signals Lower Start For Benchmarks
After a frenetic weekend in finance, the street expects small but mostly positive moves in markets on Monday, with U.S. equity futures rising and a dollar gauge weakening slightly.
Two weeks featuring multiple U.S. bank failures followed by more problems at Credit Suisse have added to the rising conviction that global economies will struggle. However, Swiss investment bank UBS announced the takeover of its beleaguered compatriot Credit Suisse in a deal backed by the Swiss government.
UBS will pay CHF 3 billion, or $3.2 billion, in an all-stock deal to acquire Credit Suisse, according to a Bloomberg report. Credit Suisse’s market capitalisation stood at $8 billion as of March 17.
Futures for the S&P 500 rose about 0.4% after the index dropped more than 1% on Friday, dragged down by the financial sector. Contracts for the Nasdaq 100 also gained about 0.4% after the gauge notched its best week since November with a jump of 5.8%, despite a slump Friday.
Investors continue to debate whether the Federal Reserve will deliver another quarter-point hike or pause at its March 21-22 meeting.
The yield on 10-year Treasury note was trading at 3.48%. Crude oil prices were trading around the $73 mark, while Bitcoin was around the $27,000 level.
At 8:10 a.m., the Singapore-traded SGX Nifty, an early indicator of India’s benchmark Nifty 50, was down 0.57% at 17,063.5.
For a second consecutive session, the Indian benchmark indices, the Sensex and the Nifty, closed higher after braving volatility for the day.
The Indian rupee ended in green against the U.S. dollar on the last day of the week, ending a five-day losing streak, on the back of a rise in domestic equities.
Foreign investors in Indian equities closed the week as net sellers, as their selling spree continued for the seventh day. Foreign portfolio investors offloaded equities worth Rs 1,766.5 crore during the day. Meanwhile, domestic institutional investors remained net buyers for the seventh day in a row and picked up equities worth Rs 1,817.1 crore.
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