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

Asian equities rebounded, in line with global peers, on Thursday on hopes that weeks of market gyrations may have priced in the economic impact of the conflict in Ukraine. Japanese stocks rose, Australia’s index edged higher, while futures rose in Hong Kong. U.S. contracts opened little changed after the sharpest gains since June 2020 for the S&P 500. the Euro Stoxx 50 rallied the most in two years. Amazon.com Inc. surged over 10% in late trading on a share split and $10 billion buyback plan, which will set the stage for its inclusion in the price-weighted Dow Jones Industrial Average. The Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50 index, rose 1.6% to 16,606.50 points as of 6:45 am. The surge in many commodity markets has stalled, though oil has rallied from steep losses overnight that took crude below $110 a barrel. The UAE said it will call on the OPEC+ alliance to boost oil output faster, a dramatic U-turn that could set the country against fellow members. Gold stabilised after falling from a 19-month high. In cryptocurrencies, Bitcoin traded around $42,000, on hopes of an impending U.S. overhaul of crypto oversight that could provide regulatory clarity for investors..

Economic Calendar:

  • INR: Bank Loan Growth on 14th March 2022.
  • INR: WPI Inflation on 14th March 2022.
  • USD: Federal Budget Balance on 11th March, 2022.
  • USD: US Rig Count on 11th March, 2022.

Brokerage Radar:

JEFFERIES ON AUTO: Rally In Commodities Pushed Out Margin Recovery Thesis Cut FY23 EPS By 7-45% Sharp Correction Offers Buying Opportunity Preferred Picks-Tata Motors, Maruti & TVS Raise Ashok Ley In Pecking Order Post Sharp Fall U-P On Motherson, M&M

International Markets:

U.S & Europe:

Particulars 09th Mar Chg Chg(%)
Nasdaq 13,255.55 460 3.59
Dow 33286.25 653.61 2.00
FTSE 7,190.72 226.61 3.25
CAC 6,387.83 424.87 7.13
DAX 13,847.93 1,016.42 7.92
Dow Fut.* 33256.1 29.4 -0.09

Asian markets:

Particulars 10th Mar Chg. Chg(%)
SGX Nifty 16,652.50 307.5 1.88
Nikkei 25,667.85 950.32 3.84
Straits Times 3,250.99 55.61 1.74
Hang Seng 21,040.19 412.48 2
Shanghai 3,314.06 57.67 1.77

ADR Watch: 

Particulars 09th Mar Chg. Chg.(%)
Dr Reddy 51.47 1.04 2.06
HDFC Bank 59.1 3.85 6.97
ICICI Bank 17.9 1.1 6.55
Infosys 23.9 0.57 2.44
Tata Motor 26.64 1.74 6.99
Wipro 7.6 0.12 1.6

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 76.56 -0.45
Brent 112.51 1.20
Gold 1979.2 -0.44
Silver 25.712 -0.39

FIIs & DII:

Particulars 9th Mar 8th Mar
FIIs -4818.71 -8142.60
DIIs 3275.94 6489.59

News Update:

Jindal Stainless (Hisar): Became the first company producing coils, sheets and plates in the country to be certified with AS 9100D Certification—a quality management system for aviation, space and defence organisations. It also enables JSHL to get listed in the Online Aerospace Supplier Information System database, which showcases the company offerings to aerospace manufacturers.

Bharti Airtel: The telecom firm has agreed to aquire a little over 9% equity stake in Avaada CleanTN Project, a special purpose vehicle for owning and operating the captive power plant. The deal value is pegged at Rs 7.88 crore.

Future Lifestyle: The company has received termination notices on sub-leased properties from Reliance entities. Notices pertain to 34 Central stores and 78 Brand Factory stores that contribute 55-65% of retail revenue operations.

NTPC: Unit-3 of the 660 MW Nabinagar Power Generating Co. Ltd. has completed trial and operation and has been consequently included in the installed capacity of NTPC Group. The total installed capacity of Nabinagar Power and NTPC Group now stands at 1,980 MW and 68,567.18 MW, respectively.
Indian Bank: The lender has appointed Aditya Gaiha as director (RBI nominee) on its board of directors, replacing SK Panigrahy with immediate effect.

Vakrangee: The Reserve Bank of India has extended the validity of authorisation issued to the company to setup, own, and operate white-label ATMs in India till March 31, 2023.

Tata Power: Resurgent Power, in which the Tata Group firm holds 26% stake, has emerged as the successful bidder for South East UP Power Transmission Co.

Zydus Lifesciences: Gets final U.S. FDA approval for Nitroglycerin Sublingual Tablet

J.Kumar Infraprojects: The company has bagged work order from Pune Municipal Corporation for development of Mula Mutha River from Bund Garden Bridge to Mundhwa worth Rs 604.75 crore. The company also received a letter of acceptance from Delhi Metro Rail Corporation worth 1,426 crore.

Restaurant Brands Asia: The company has completed acquisition of 87.75% stake in Burger King Indonesia (PT Sari Burger Indonesia).

Uttam Sugar: The company has redeemed 1,00,000, 6.50% non-cumulative redeemable preference shares of Rs 100 each.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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