Global Cues
U.S. Dollar Index at 104.2
U.S. 10-year bond yield at 3.56%
Brent crude up 0.37% to $74.98 per barrel
Nymex crude at $68.59 per barrel
SGX Nifty up 0.71% at 17,143 as of 8:08 a.m.
Bitcoin up 4.60% to $25,891.16
Three Adani Group Stocks Move Out Of Short-Term Additional Surveillance
Three Adani Group stocks—Adani Enterprises, Adani Power and Adani Wilmar—will be moved out of short-term additional surveillance measures framework on Friday.
For Adani Enterprises, margin will be restored prior to inclusion in ASM framework on all existing derivative contracts, according to a circular by the National Stock Exchange.
The three stocks were added to the short-term ASM framework on March 8. With their exclusion, no Adani Group stocks are under the short-term ASM framework now.
Source: NSE
Pledge Share Details
Star Cement: Promoter Vinay and Company created a pledge of 25,000 shares on March 15.
Sterling and Wilson Renewable Energy: Promoter Khurshed Yazdi Daruvala revoked a pledge of 19.23 lakh shares on March 14.
Insider Trading
Maharashtra Seamless: Promoter group Raghav Jindal bought 22,922 shares on March 15.
Bajaj Holdings & Investment: Promoter group Hercules Hoists bought 3,416 shares between March 13 and 14.
Centrum Capital: Promoter group JBCG Advisory Services bought 1.25 lakh shares on March 15.
Greaves Cotton: Promoter Karun Carpets bought 20,000 shares on March 15.
Marksans Pharma: Promoter Sandra Saldanha bought 1.45 lakh shares on March 14.
Zydus Wellness: Promoter Zydus Family Trust bought 8,696 shares on March 15.
Meghmani Finechem: Promoter Maulik Jayantibhai Patel bought 4,500 shares on March 15.
Hi-Tech Pipes: Promoter group Parveen Bansal sold 60,000 shares on March 13.
Gateway Distriparks: Promoter Perfect Communications bought 1.75 lakh shares on March 15
Trading Tweaks
Ex-Date Stock Split: Hi-Tech Pipes
Record Date Stock Split: Hi-Tech Pipes
Move Out Of Short Short-Term ASM Framework: Adani Enterprises, Adani Power, Adani Wilmar, Tata Teleservices (Maharashtra), DB Realty, Kiri Industries
Block Deals
Bajaj Finserv: Bajaj Sevashram bought 4.9 lakh shares (0.05%), Kamalnayan Investments And Trading bought 1.38 lakh shares (0.01%), Niraj Holdings bought 1.41 lakh shares (0.01%), Rishab Family Trust sold 7.69 lakh shares (0.08%) at Rs 1,296 apiece.
Bulk Deals
Samvardhana Motherson International: Copthall Mauritius Investment bought 4.43 crore shares (0.65%), Societe Generale bought 5.28 crore shares (0.78%) at Rs 70.05 apiece, Sumitomo Wiring Systems 23 crore shares (3.39%) at Rs 70.1 apiece.
Stocks To Watch: Adani, TCS, Zee, Infosys, Dr Reddy’s In Focus
Tata Consultancy Services: The company’s Chief Executive Officer, Rajesh Gopinathan, resigned from the office, effective Sept. 15, after a six-year stint. K Krithivasan has been appointed as the CEO designate, effective March 16.
Zee Entertainment Enterprises: The company amicably settled disputes and claims with its operational creditor, the Indian Performing Right Society. Subsequently, the insolvency plea filed by the latter against the former has been disposed of by the NCLT as withdrawn. The company has agreed to repay dues owed to IndusInd Bank in a bid to resolve its insolvency, Bloomberg reported.
Infosys: The company’s subsidiary Infosys Finacle implemented the liquidity management solution for Netherlands-based financial services provider ABN AMRO.
Dr. Reddy’s Laboratories: The company divested certain non-core brands in the dermatology segment to Eris Lifesciences for Rs 275 crore.
Samvardhana Motherson International: The board approved the acquisition of the remaining 50% stake in Fritzmeier Motherson Cabin Engineering from JV partner F Holdings GmbH, Austria, for Rs 110.7 crore. The company also incorporated a wholly owned subsidiary, Motherson Electronic Components, to carry on the business of manufacturing, design, development, assembly, marketing, and sale of components, materials, etc.
Voltas: Universal MEP Projects & Engineering Services, a wholly owned subsidiary of the company, has bagged multiple power distribution and solar projects worth Rs 1,770 crore across Uttar Pradesh, Madhya Pradesh, West Bengal, Odisha, and Karnataka.
Glenmark Pharmaceuticals: The company received U.S. FDA acceptance for an investigational new drug application to proceed with a Phase 1/2, first-in-human, clinical study for GRC 54276 for the treatment of patients with advanced solid tumours and lymphomas.
Rail Vikas Nigam: The company was selected as the lowest bidder for supply, installation, testing, and commissioning of 11 KV line associated works in Sidhi, Singrauli, Sagar, Damoh, Chhatarpur, Panna, and Tikamgarh regions of Jabalpur. The project cost, without taxes, is Rs 111.85 crore.
Lemon Tree Hotels: The company signed a license agreement for a 60-room property in Sri Ganganagar, Rajasthan, which is expected to be operational by July 2026.
GlaxoSmithKline Pharmaceuticals: The company estimated the impact of the National List of Essential Medicines price revisions and is working on multiple mitigations. It expects the impact of the price revision on profits to be in the low single digits in the next financial year.
Jtekt India: Satoshi Komeda resigned from the position of Director (Operations) of the company with effect from the close of business on March 31.
Bajaj Finance: The company appointed Anup Saha and Rakesh Bhatt as executive directors and Arindam Bhattacharya as an independent director for five years, with effect from April 1, 2023.
Glenmark Life Sciences: The board approved a dividend of Rs 21 per share for the current financial year.
Steel Authority of India: The board approved an interim dividend of Rs 1 for each share of face value of Rs 10 for the current fiscal.
Hindustan Zinc: The board will meet on March 21 to consider an interim dividend for the current fiscal.
SGX Nifty Indicates Higher Open For Benchmarks
Asian markets rose following a rescue package for First Republic Bank, sparking a rebound in U.S. shares. Treasuries fell after the European Central Bank delivered a rate hike that added to bets that the U.S. central bank will also raise rates next week.
The S&P 500 notched its largest one-day advance since January after the biggest U.S. lenders agreed to contribute $30 billion in deposits to First Republic, easing speculation that the bank could be the next to fail after two high-profile demises touched off the crisis last week.
The yield on the 10-year Treasury note was trading at 3.56%. Crude oil prices were trading around the $75 mark, while Bitcoin was trading around the $25,000 level.
At 8:08 a.m., the Singapore-traded SGX Nifty, an early indicator of India’s benchmark Nifty 50, was up 0.71% at 17,143.
Indian benchmark indices—Sensex and Nifty—closed in the green to snap a five-day losing streak after a volatile trading session.
The Indian rupee closed lower against the U.S. dollar for the fifth day in a row, tracking mixed cues from global equities and continued foreign fund outflows.
Foreign investors in Indian equities remained net sellers for the sixth straight day on Thursday. Foreign portfolio investors offloaded equities worth Rs 282.1 crore during the day, meanwhile, domestic institutional investors remained net buyers for the fifth straight day and picked up stocks worth Rs 2,051.5 crore.
. Read more on Markets by BloombergQuint.
