International

Markets:U.S & Europe

Particulars      2nd  Mar. Chg Chg(%)
Nasdaq 13,358.79 -230.04 -1.69
Dow 31,391.52 -143.99 -0.46
FTSE 6,613.75 25.22 0.38
CAC 5,809.73 16.94 0.29
DAX 14,039.80 26.98 0.19
Dow Fut.*   31,463.00     104 0.33

 

Asian markets:

Particulars       3rd Mar. Chg Chg(%)
SGX Nifty 15,035.00 51.5 0.34
Nikkei 29,459.71 51.54 0.18
Straits Times 2,988.97 15.1 0.51
Hang Seng 29,580.07 484.21 1.66
Shanghai 3,546.79 38.2 1.09

 

ADR Watch:

Particulars                   2nd Mar. Chg Chg(%)
Dr Reddy 60.44 0.01 0.02
HDFC Bank 82.8 0.66 0.8
ICICI Bank 16.84 -0.09 -0.53
Infosys 18.02 0.36 2.04
Tata Motor 23.35 0.78 3.46
Wipro 6.47 0.08 1.25

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 73.27          0.03
Brent 62.97          0.88
Gold 1731.30         -0.11  
Silver       26.79         -0.33

 

FIIs & DIIs

Particulars 2nd Mar       1st  Mar
FIIs     2223          125
DIIs      854         -194

 

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

Asian equities are mixed this morning after an overnight drop on Wall Street amid concerns over excessive investor optimism. Benchmark indices in Japan and South Korea fluctuated while those in Australia advanced. The ten-year treasury yields edged higher, the U.S. Dollar was little changed while oil prices are declining this morning. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was little changed at 15,035.00 as of 8:10 a.m.

Key Data/ Action, Result and Board meeting to watch

Major economic Data:

News Update:

IRCON International:

Government proposes to sell 4.7 crore shares or 10% of the total equity through an offer for sale. The government will also have a greenshoe option to sell an additional 2.82 crore shares or 6% of the total equity. The floor price of Rs 88 per share is a 10.2% discount to Tuesday’s closing price. The OFS for non-retail investors opens March 3, while for retail investors, it opens March 4. As per the December quarter shareholding pattern, the government held 89.18% stake in the company.

Bharat Forge, RK Forgings:

Class 8 Truck orders in the U.S. rise 209% to 44,000 units in February from 14,243 units during the same period last year. On a month-on-month basis, orders were up 2.8% as compared to 42,800 units in January. February is the fifth consecutive month where orders were higher than 40,000 units.

Bank of Baroda: Approves closer of the QIP issue and sets an issue price of Rs 81.70 per share. The issue price is a 5% discount to the floor price of Rs 85.98 per share.

Engineers India:

Indian Oil Corporation has awarded the project for execution of consultancy for overall project management and EPCM services (Phase II) for capacity expansion of Panipat Refinery from 15 MMTPA to 25 MMTPA to the company. The total awarded order value is around Rs 600 crore with a total project schedule of 40 months for mechanical completion.

JB Chemicals & Pharmaceuticals:

In an analyst call, the company said that the organic growth will sustain at a higher pace than industry. Infrastructure and resources available will support growth in near and mid-term. The company also plans to ramp up its Field Force Productivity by 12-14% from current levels. Plans an expansion of bigger brands beyond tier-2 towns and 6-8 annual launches.

Mahindra Lifespace Developers:

The company has launched its residential project ‘Aclove’, at Chandivali in Mumbai. The project is registered with Maharashtra RERA.

V-Mart Retail:

The company has opened a new store in Bihar and has also closed two stores in Assam and Uttar Pradesh respectively. With this the total number of stores of the company stands at 273.

Reliance Industries:

 Reliance Jio Infocomm Ltd, India’s largest telco, emerged as the top bidder, cornering roughly three-fourths of the spectrum sold in the 4G auction. Reliance Jio bought radio airwaves worth ₹57,122.65 crore in the first spectrum auction in more than four years. Bharti Airtel Ltd purchased spectrum worth ₹18,698.75 crore, while Vodafone Idea Ltd’s (VIL’s) participation was limited. VIL placed bids worth ₹1,993.40 crore, largely for spectrum renewal.

BPCL:

State-run Bharat Petroleum Corp. Ltd (BPCL) will pay dividend to its shareholders after the stake sale in Assam-based Numaligarh Refinery Ltd (NRL) is completed, N.

Vijaygopal, director finance, BPCL, said on Tuesday.
Motherson Sumi Systems: Crisil has reaffirmed Motherson Sumi’s long-term credit rating at AA+ and revised outlook from Negative to Stable.

Yes Bank:

 The shareholders of Yes Bank have approved a proposal for raising ₹10,000 crore capital with the requisite majority. As many as 98.78% votes were in favour of the resolution to authorise the bank to raise capital through issuance of equity shares or other securities, Yes Bank said in a regulatory filing.

Bulk Deal

Ion Exchange (India):

Plutus Wealth Management LLP bought 4.75 lakh shares (3.24%) at Rs 1,220.75 per share. Rakesh Jhunjhunwala sold 1.50 lakh shares (1.03%) at Rs 1,205.19. Rare Investments sold 3.87 lakh shares (2.64%) at Rs 1,205.42 per share.

                                                                                                                Source: MoneyControl, Business Standard, Bloomberg,Investing

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