View on market: Stay Cautious, be with quality business:

Asian equities are mixed in mid-week trading. The U.S. Dollar and treasury yields have held overnight losses. Benchmark indices in South Korea saw modest gains while those in Japan are fluctuating. A rebound in growth shares saw the Nasdaq see its biggest single-day gain since November last year. Oil prices were around the $64 per barrel mark while Bitcoin traded above $55,000. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.47% to 15,232.50 as of 8:10 a.m.

Key Data/ Action, Result and Board meeting to watch

Major economic Data:

  • INR: Industrial Production (YoY) (Jan) on 12th, March,2021
  • INR: CPI (YoY) (Feb) on 12th, March,2021

International

Markets: U.S & Europe

Particulars      9th  Mar. Chg Chg(%)
Nasdaq 13,073.82 464.66 3.69
Dow 31,832.74 30.3 0.09
FTSE 6,730.34 11.21 0.17
CAC 5,924.97 21.98 0.37
DAX 14,437.94 57.03 0.4
Dow Fut.*   31,795.00 -14.5 -0.05

*As per 10th March

Asian markets:

Particulars       10th Mar. Chg Chg(%)
SGX Nifty 15,232.50 72 0.47
Nikkei 29,040.82 12.88 0.04
Straits Times 3,082.60 -25.93 -0.83
Hang Seng 28,807.43 34.2 0.12
Shanghai 3,366.51 7.22 0.21

ADR Watch:

Particulars                   9th Mar.  Chg Chg(%)
Dr Reddy 60.8 0.05 0.08
HDFC Bank 83.26 2.07 2.55
ICICI Bank 17.34 0.56 3.34
Infosys 18.6 0.62 3.45
Tata Motor 21.74 0.07 0.32
Wipro 6.48 0.25 4.01

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 72.91         0.20
Brent 67.07         -0.16
Gold 1710.85         -0.37
Silver       25.86         -1.21

FIIs & DIIs:

Particulars 9th Mar       8th  Mar
FIIs      2801        -1494
DIIs      1250          483

News Update:

AU Small Finance Bank: Approves launch of QIP issue on Tuesday. The floor price of Rs 1,181.06 per share is a 4.4% discount to Tuesday’s closing price. The board will meet on March 15 to determine the QIP issue price. In a separate filing, the lender said that its whole-time director Uttam Tibrewal intends to sell 10 lakh shares among those held by him, citing personal commitments.

Godrej Properties: Launched QIP issue on Tuesday. Floor price of Rs 1,513.39 per share is a 3.4% premium to Tuesday’s closing price. The board to meet on March 15 to determine the QIP issue price.

Max Healthcare: Board announced closure of the QIP, launched on Thursday, March 4. The issue price of the QIP has been fixed at Rs 195.4 per share.
Confidence Petroleum India: The company has decided to set-up CNG-High Pressure Cylinder manufacturing unit near Nagpur with a capacity of 3.60 lakh cylinders per annum of various capacities. The company has also decided to workout feasibility for putting Cryogenic Cylinder manufacturing unit near Nagpur having capacity of 1.5 lakh units per annum of various capacities. Further the company has also given approval for putting LNG Tanks manufacturing unit near Nagpur.

Indian Bank: Board approves raising funds to the tune of Rs 4,000 crore through the QIP route in one or more tranches, subject to statutory and regulatory approvals.
JSW Energy: The Finance Committee has approved the allotment of 1,750 secured NCDs of Rs 10 lakh each aggregating to Rs 175 crore for a tenure of 3 years and at the coupon rate of 3.25% per annum.

Power Finance Corporation: Board to meet on March 12 to consider interim dividend for FY21. The record date for the same if any, is fixed as March 22.

Jubilant Foodworks: The company’s wholly owned subsidiary, Jubilant Foodworks Netherlands B.V., has successfully completed the acquisition of 100% of Fides Food Systems Coöperatief U.A., Netherlands which holds 32.81% equity shares in DP Eurasia N.V. Consequently, the company stands fully released from the guarantee issued by it in connection with the investment obligations of Jubilant Foodworks Netherlands B.V.

Power Grid Corporation Of India: The company has acquired Ramgarh New Transmission Ltd, the project SPV to establish transmission system strengthening scheme for evacuation of power from solar energy zones in Rajasthan (8.1 GW) from the Bid Process Coordinator – REC Power Distribution Company. The transmission system comprises establishment of a new 400/220kV substation, 400kV DIC transmission lines and associated substation extension works in Rajasthan. The transmission system is an inter state transmission system project and will be completed in 18 months. The cost of acquisition is Rs 5.61 crore.

Reliance Industries Ltd: Reliance Industries Ltd (RIL) has agreed to extend operational support to Future Retail Ltd to prevent its collapse while its ₹24,713-crore deal to buy the cash-strapped retailer’s assets awaits approval from a company law tribunal, two people directly aware of the matter said.

BPCL: BPCL Trust for investment in shares on Tuesday offloaded shares worth over ₹5,525 crore in Bharat Petroleum Corporation Ltd (BPCL) through an open market transaction. According to a bulk deal on the National Stock Exchange (NSE), the BPCL Trust for Investment in Shares sold over 126.03 million shares of BPCL at a price of ₹438.41 apiece.
Kotak Mahindra Bank: Kotak Mahindra Bank on Tuesday said the company plans to declare the payment of dividend on non-convertible perpetual non-cumulative preference shares (PNCPS) for year ended March 31, 2021 and is calling a board meeting for the same on 12 March. In a regulatory filing, the company informed that the decision will be taken at a meeting on 12 March.

(Source: Money Control, Business Standard, Bloomberg, Investing)

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