Today's Stock Market: Everything You Need To Know Before Trading On March 28

  • March 28, 2022, 12:10 p.m.

Asian equities and U.S. futures declined on Monday amid Russia’s war in Ukraine and concerns about an economic downturn due to the tightening of U.S. monetary policy.

Shares fell in Japan and South Korea but rose in Australia. The S&P 500 and Nasdaq 100 contracts retreated, hinting at a possible pause in the global rally in equities. As of 6:40 am, the Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50 index, rose 0.31% to 17,244.50 points as of 6:40 am.

China’s virus resurgence imperils demand. A dollar gauge advanced, while the yen was at around a six-year low against the greenback.

In cryptocurrencies, Bitcoin scaled to $46,000 as the digital token turned positive for the year.

Stocks To Watch

  • PVR: The multiplex operator has approved a merger with Inox Leisure. Shareholders will get three shares of PVR for every ten shares they hold of Inox. PVR now operates the largest multiplex network in India with 871 screens at 181 properties in 73 cities (India and Sri Lanka).

  • Vedanta: The board of Vedanta approved a capital expenditure of $687 million on Cairn Oil & Gas to increase near-term volume. It earmarked a capex of $466 million towards Zinc International’s Gamsberg Phase 2 project. Further, it has set aside $348 million for an expansion project at its subsidiary ESL Steel.

  • Larsen & Toubro: The Ministry of Defence has signed a contract with Larsen & Toubro for the acquisition of two multipurpose vessels for the Indian Navy at an overall cost of Rs. 887 crore.

  • The company has acquired the Dermicool category from Reckitt Benckiser Group Plc for Rs 432 crore.

  • Bharti Airtel: Bharti Airtel to buy a 4.7% stake in Indus Towers for Rs 2,388.06 crore.

  • Adani Enterprises: The company's two units, Mahanadi Mines and Minerals and MP Natural Resources, have won a coal block each in Odisha and Madhya Pradesh.

  • GAIL India: To consider a buyback of its shares on March 31.

  • Wipro: Approved interim dividend of Rs 5 per equity share for FY22.

  • PTC India Financial: Gets an income tax refund of Rs 50.97 crore.

  • To acquire a 51.09% stake in Finlite Technologies (Livekeeping) for Rs 45.98 crore. The acquisition is expected to be completed in 60 days.

  • Sun Pharma: The company has presented Phase 3 data for WINLEVI (clascoterone) cream 1% for the Topical Treatment of Acne Vulgaris at the AAD Annual Meeting.

  • Exide Industries: Exide Industries incorporated a wholly owned subsidiary, Exide Energy Solutions Ltd., to set up a greenfield multi-gigawatt lithium-ion cell manufacturing facility in India with an initial authorised and paid-up equity share capital of Rs 100,000.

  • Responsive Industries: Mr. Shetty has resigned as director and chief financial officer. The company has accepted his resignation and relieved him of his responsibilities with effect from March 24, 2022.

  • Bank of Baroda: The bank has acquired 10 lakh equity shares of Open Network for Digital Commerce.

  • Indian Hotels: The board announced the closure of the QIP, launched on March 22. The issue price had been fixed at Rs. 202 per share.  Pledge Shares Details

  • Sun Pharmaceutical Industries: Promoter Group Shanghvi Finance revoked a pledge of 85.97 lakh shares on March 22.

Insider Trades

  • Grasim Industries: Promoter Group IGH Holdings bought 1.25 lakh shares between March 22 and March 23.

  • Bajaj Holdings: Promoter Group Bachhraj & Co. bought 29,091 shares between March 22 and March 23.

  • Sudarshan Chemical Industries: Promoter and Director Rajesh Balkrishna Rathi bought 13,151 on March 23.

  • Vaibhav Global: Promoter Group Brett Enterprises bought 1,708 shares on March 24.

  • Promoter BNP Paribas SA sold 3.95 lakh shares on March 21 and March 22, while Geojit Financial Services

  • Promoter Riddi Portfolio bought 30,000 shares on March 24.

  • Strides Pharma Science: Promoter Pronomz Ventures bought 45,450 shares between March 21 and March 22.

  • PTC Industries: Promoter and Director Sachin Agarwal bought 815 shares on March 24.

  • Promoter HR Offshoring Ventures and NED Consultants LLP sold 54,544 shares each between March 23 and March 25.

  • Promoter Malav Ajitbhai Mehta sold 75 lakh shares between March 23 and March 25.

  • Star Cement: Promoter Group Suchita Agarwal sold 5000 shares on March 22.

  • Yasho Industries: Promoter and Director Parag Vinod Jhaveri bought 25,000 shares on March 3.

  • Nuvoco Vistas Corp: Promoter Niyogi Enterprise bought 37,143 shares on March 23 and March 24.

Bulk Deals

  • Lemon Tree Hotels: JP Morgan Indian Investment Trust Plc bought 42.71 lakh shares (0.54% stake) at Rs 60 apiece. Promoter Spank Management Service sold 1 crore shares (1.26% stake) at Rs 60 apiece.

  • Aditya Birla Technologies Sun Life Mutual Fund bought 1.76 lakh shares (0.57% stake) at Rs 1,795 apiece. UTI Mutual Fund bought 2.20 lakh shares (0.72%) at Rs 1,795 apiece. Abu Dhabi Investment Authority bought 1.56 lakh shares (0.51%) at Rs 1,795 apiece. BNP Paribas Arbitrage bought 2.77 lakh shares (0.90%) at Rs 1,797.13 apiece. Segantii India Mauritius bought 2.11 lakh shares (0.69%) at Rs 1,795 apiece. Solidus Advisors LLP sold 4.89 lakh shares (1.59%) at Rs 1,796.41 apiece. Fabmohur Advisors LLP sold 19.42 lakh shares (6.31%) at Rs 1,793.44 apiece.

Who's Meeting Whom

  • Symphony to meet institutional investor Enam Asset Management on March 29?

Trading Tweaks

  • Price band revised from 20% to 10%: Ganesh Housing Corporation

  • moved out of the short-term ASM framework: Ruchi Soya Industries

  • Record date for interim dividend: TVS Motor Co., ex

  • -date face value split: Goldiam International

  • Ex-date interim dividend: Steel Authority of India

Money Market Update

The rupee ended at 76.20 against the U.S. dollar on Friday, as compared to Thursday’s closing of 76.37.

F&O Cues

  • Nifty March futures ended at 17,216.55, a premium of 64 points.

  • Nifty March futures shed 3.85% and 7,895 shares in open interest.

  • Nifty Bank March futures ended at 35,637.80, a premium of 227.7 points.

  • Nifty Bank March futures shed 6.99% and 6,272 shares in open interest.

  • Securities in the ban list: Indiabulls Housing Finance, Vodafone Idea, L & T Finance Holding, SAIL, Sun TV

  • Securities removed from the ban list: Balrampur Chini Mills, Delta Corp.


Author : Rajdhani Delhi Representative

Rajdhani delhi representative

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