Global Cues
U.S. Dollar Index at 105.1
U.S. 10-year bond yield at 3.93%
Brent crude up 0.02% to $83.18 per barrel
Nymex crude at $76.39 per barrel
SGX Nifty down 0.07% to 17,531 as of 7:32 a.m.
Bitcoin down 0.01% to $23,558.40
Pledge Share Details
Jindal Steel & Power: Promoter group Opelina Sustainable Services realsed a pledge of 12,350 shares and promoter group Siddeshwari Tradex revoked a pledge of 44 lakh shares between Feb. 22-23.
Sun Pharma Advanced Research Company: Promoter group Raksha Valia created a pledge of 22 lakh shares and promoter group Sudhir Valis created a pledge of 18 lakh shares on Feb. 22.
Bulk Deals
PC Jeweller: Silver Stallion sells 30.06 lakh shares (0.65%) at Rs 24.65 apiece.
Wheels India: Trichur Sundaram Santhanam & Family bought 1.51 lakh shares (0.63%), ABI Showatech (India) sold 1.51 lakh shares (0.63%) at Rs 506.3 apiece.
Block Deals
Redington: Synnex Mauritius sold 18.86 lakh shares (24.13%), Synnex Technology International Corporation bought 18.86 lakh shares (24.13%) at Rs 170.45 apiece.
Earnings Results Today
Foseco India, Rain Industries, Vesuvius India
Stocks To Watch: Piramal, Indiabulls Housing, Power Grid, SpiceJet, NBCC
Piramal Enterprises: The board is scheduled to meet on March 1 to issue non-convertible debentures worth Rs 100 crore on private placement basis, with an option to retain oversubscription up to Rs 500 crore.
Power Grid Corporation of India: A directors’ panel approved aggregate investment to the tune of Rs 804 crore in four projects.
Indiabulls Housing Finance: The company will issue non-convertible debentures worth Rs 100 crore, with the option to retain oversubscription up to Rs 800 crore, aggregating up to Rs 900 crore.
SpiceJet: The company’s board will now meet on Feb. 27 to consider issue of shares on preferential issues and raising fresh capital through issue of eligible securities to qualified institutional buyers.
NBCC India: The company received an order worth Rs 350 crore for planning, design, execution/ construction of buildings and its services and other maintenance and upgradation works of existing buildings at Motilal Nehru National Institute of Technology, Allahabad. In the month of January 2023, the company secured total business of Rs 194.17 crore.
PVR: The company opened an 11-screen multiplex at Lulu Mall in Lucknow, Uttar Pradesh.
Edelweiss Financial Services: The company has received shareholders’ approval for the proposed demerger of its wealth management business.
Bharat Electronics: The company opened its new software development centre in Visakhapatnam, which will offer SaaS services for various applications to both defence and non-defence sectors.
IRB Infra: Received Letter of Award from the National Highways Authority of India for the project for the upgradation to six lane with paved shoulder of NH-27 from Samakhiyali to Santalpur sections.
Kalpataru Power Transmission: The company has successfully completed the sale and transfer of an additional 25% stake in Kohima-Mariani Transmission, to Apraava Energy. Post the transaction, the company has now transferred an aggregate of 48% stake in KMTL, with an agreement to sell balance 26% to Apraava, after obtaining requisite regulatory and other approvals.
Granules India: Received ANDA Approval for Losartan Potassium Tablets. The current annual U.S. market for Losartan potassium Tablets is approximately $336 million, according to MAT Dec 2022, IQVIA/IMS Health.
SGX Nifty Signals A Muted Start For Benchmarks
Asian markets are set to fall after a heavy selling on Wall Street late last week as investors weighed-in on forecasts for the U.S. interest rates following hot inflation data.
The S&P 500 and Nasdaq 100 dropped more than 1% Friday, dragging the two U.S. indexes each to their worst week since December. The Nasdaq Golden Dragon index of Chinese companies fell 3.9% Friday in another sign of likely selling pressure in Asia Monday.
Meanwhile, the yield on 10-year Treasuries advanced to 3.93%. Crude prices were trading around $83-mark, while Bitcoin was trading below 24,000-level.
At 7:32 a.m., the Singapore-traded SGX Nifty, an early indicator of India’s benchmark Nifty 50, was down 0.07% at 17,531 .
Domestic benchmark indices Sensex and Nifty erased opening gains and logged the lowest weekly loss in eight months, on Friday.
Rupee erased gains from the opening trade to close marginally lower against the U.S. dollar in the last session of the week.
Overseas investors in Indian equities remained net sellers for the third day in a row on Friday. Foreign portfolio investors offloaded equities worth Rs 1,470.34 crore, while the domestic institutional investors were net buyers for the third day in a row and mopped up stocks worth Rs 1,400.98 crore.
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