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

Asian equities are rising at the start of a new week as U.S. President Joe Biden’s $1.9 trillion covid relief package received senate approval. Benchmark indices rallied in Japan, Australia and South Korea. Treasury yields climbed back towards the 1.6% mark as U.S. jobs data beat estimates on Friday. Oil prices rose to their highest since May 2019 after Saudi Arabia said that one of the world’s most protected oil facilities came under attack. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.38% to 15,011 as of 8:10 a.m.

Key Data/ Action, Result and Board meeting to watch

Major economic Data:

  • INR: Industrial Production (YoY0 (Jan) on 12th, March,2021
  • INR: CPI (YoY0  (Feb) on 12th, March,2021

International

Markets:U.S & Europe

Particulars      5th  Mar. Chg Chg(%)
Nasdaq 12,920.15 196.68 1.55
Dow 31,496.30 572.16 1.85
FTSE 6,630.52    -20.36 -0.31
CAC 5,782.65    -48 -0.82
DAX 13,920.69 -135.65 -0.97
Dow Fut.* 31,517.00     51 0.16

 

Asian markets:

Particulars       8th Mar. Chg Chg(%)
SGX Nifty 15,011.00 57.5 0.38
Nikkei 28,926.03 61.71 0.21
Straits Times 3,065.53 51.68 1.71
Hang Seng 28,825.93 -272.36 -0.94
Shanghai 3,494.76 -7.23 -0.21

 

ADR Watch:

Particulars                   5th Mar. Chg Chg(%)
Dr Reddy 61.3   -0.48 -0.78
HDFC Bank 82.28 0.95 1.17
ICICI Bank 16.96 0 0
Infosys 18.28 0.11 0.61
Tata Motor 22.32 -0.18 -0.8
Wipro 6.38 -0.06 -0.93

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 73.22          0.05
Brent 71.06          2.44
Gold 1705.00          0.38
Silver       26.64          1.42

 

FIIs & DIIs

Particulars 5th Mar       4th  Mar
FIIs      -2014        -223
DIIs      -1191        -788

 

News Update:

Adani Ports:

To issue up to 1 crore equity shares of face value of Rs 2 each to Windy Lakeside Investments on a preferential basis. The allottment will be done at a price of Rs 800 per share, which is a 6.7% premium to Friday’s closing price.

NMDC:

Further the Prices of Lump Ore and Fines have been left unchanged at Rs 5,100 per tonne and Rs 4,210 per tonne respectively as compared to February. A meeting of the Board of Directors is scheduled on March 11 to consider the proposal for declaration of interim dividend, if any, for the financial year 2020-21.

Aarti Drugs:

Aarti Specialty Chemicals (ASCL), a wholly-owned subsidiary of the company gets an approval accorded under the Production Linked Incentive Scheme for the Pharma sector. The company received an approval for 2-Methyl-5Nitro-Imidazole with a committed production capacity of 4,000 MTPA under target segment III. The rate incentive will be 10% of sales value per annum until FY28.

Just Dial:

Has signed an advertising agreement with Star India for advertising as Co-presenting Sponsor for the Indian Premier League.

Radico Khaitan:

A sudden fire was noticed in two of the alcohol storage tanks at its Rampur Plant in Uttar Pradesh. The tanks had a combined capacit of extra neutral alcohol of 3.5 lakh bulk litres. There was no loss of life reported. No material impact on revenue or production due to the fire. Production was stopped only for a few hours as a precautionary measure. All alcohol production and bottling operations have now resumed.

Indian Bank:

As part of monetisation of bank’s non-core assets, the Board of Directors have accorded in-principal approval for partial/full disinvestment of bank’s stake in joint venture ASREC (India). The bank holds 38.26% stake in ASREC (India).

Aegis Logistics:

Itochu Petroleum acquired an additional 5.3% stake in Hindustan Aegis LPG from Aegis Gas for Rs 69.3 crore. Itochu earlier held 19.7% stake in Hindustan Aegis LPG. HALPG is a subsidiary of Aegis Gas which is a wholly-owned subsidiary of Aegis Logistics.

Cipla:

Wholly-owned, step-down subsidiary of the company Cipla (UK) Ltd. has been voluntarily liquidated from March 5, 2021. The liquidation was part of the company’s internal reorganisation and will not affect performance or revenue.

Force Motors:

The company’s total production in February stood at 1,829 units. Further the company reported the domestic sales of 1,182 units and exports of 452 units in February.

Maruti Suzuki India:

The company’s passenger vehicles production rose 18.1% to 1.65 lakh units Vs 1.40 lakh units in February 2020.

Mishra Dhatu Nigam:

The Company has allotted 1,000 commercial papers of face value of Rs 5 lakh each aggregating to Rs 50 crore for a tenure of 90 days.

Spandana Sphoorty Financial:

The Board of Directors has approved the issuance of Non-convertible Debentures of upto Rs 110 crore.

BEML Ltd:

At least six companies, including Tata Motors Ltd, Mahindra and Mahindra Ltd and Ashok Leyland Ltd, are looking to buy a 26% stake in state-run defence equipment maker BEML Ltd, two people aware of the developments said. Bharat Forge Ltd and Megha Engineering and Infrastructure Ltd may also submit expressions of interest for the government’s stake in BEML, the people said on condition of anonymity. The government, which owns 54% in BEML, invited expressions of interest for the stake sale in the defence equipment maker, along with the transfer of management control, on 4 January.

Polycab:

Polycab Wires Italy, SRL, a wholly-owned subsidiary incorporated under the Italian Civil Code, has been dissolved on March 5, 2021. The company was not a material

Subsidiary and will not have any significant impact on the accounts.

Source: MoneyControl, Business Standard, Bloomberg,Investing

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