It is a firm start for
the Indian indices on Thursday morning with Nifty around
11,370 level.
The Sensex is up
131.80 points at 37883.97, while Nifty is up 32.80
points or 0.29% at 11374.50. About 566 shares have
advanced, 268 shares declined, and 56 shares are unchanged.
DHFL gained 5 percent,
followed by Lemon Tree, Lupin, Zee Ent, Indianbulls Housing, HCL
Tech, Axis Bank, Yes Bank, Infosys are among the major gainers
on the indices, while losers include Power Grid, BPCL, Tata
Motors, Adani Ports and HPCL.
Among the sectors,
FMCG, infra and energy are trading marginally lower, while IT,
metal, pharma, and auto witnessing buying interest.
Rupee Opens:
The Indian rupee
opened lower by 14 paise at 69.67 per dollar on Thursday versus
previous close 69.53.
Rupee after
strengthening for the past few sessions is expected to weaken
after RBI announced that it would enter into currency swap for a
three-year tenor, to supply funds to banks for a longer
duration.
The RBI plans to
conduct the dollar-rupee buy-sell swap auction on March 26th
adding that the dollar amount mobilized through this auction
would also reflect in RBI’s foreign exchange reserves for the
tenor. The step is to curb the volatility and major appreciation
of the currency.
Today, USD-INR pair
is expected to quote in the range of 69.50 and 70.20.
Global
Market :
Asian markets
trade firm:
Asian shares paused on
Thursday as investors awaited data from China for clues about
the health of the world's second largest economy while the pound
shot up to near nine-month highs as the risk of a
no-deal Brexit receded following a late-night vote.
SGX Nifty:
Trends on SGX Nifty
indicate a flat opening for the broader indices in India, a gain
of 7 points or 0.06 percent. Nifty futures were trading around
11,390.50-level on the Singaporean Exchange.
Wall Street
ends higher:
US
stocks rose on Wednesday, led by gains in healthcare shares, and
Boeing edged upward even as the United States joined other
nations in grounding the company's 737 MAX jets.
Crude Update:
Brent crude oil prices
on Thursday hit their highest so far this year, pushed up by
ongoing supply cuts led by OPEC and by US sanctions against
Venezuela and Iran.
Domestic
Markets :
Lok
Sabha polls 2019 : How BJP has managed to retain
its oldest allies
SAD and BJP entered into
the first pre-poll coalition in 1997, during Assembly elections
in Punjab. The BJP and Sena alliance go further back, formed in
1989.
Bharatiya Janata
Party (BJP) president Amit Shah, during the announcement of the
BJP-Shiv Sena alliance, had called the Sena and Shiromani Akali
Dal (SAD) the BJP's "oldest allies".
Sena and SAD have been
BJP's regional allies in Maharashtra and Punjab respectively.
Prime Minister
Narendra Modi had called BJP's alliance with SAD the "most
durable and time-tested alliance" in 2018, while despite Sena's
continued jibes at the BJP government in the Centre as well as
in Maharashtra, the BJP leadership kept mum.
But apart from being
the oldest BJP allies, there is one more similarity between the
SAD and Sena: both of them were unhappy with the BJP, and
continued to express their displeasure. While the Sena
criticised BJP over a number of its policies, including
demonetisation and the BJP's inability to build a Ram temple in
Ayodhya, SAD made a combination of subtle and overt comments
against the BJP.
For instance, in
February last year, SAD had asked the BJP to "treat its allies
better", and had even hinted at reasons why the Shiv Sena might
be unhappy with BJP. SAD supremo Parkash Singh Badal had told
Shah during his visit to Chandigarh that the BJP should "remove
insecurity among minorities".
The Akali Dal had also
skipped a National Democratic Alliance (NDA) meet ahead of the
budget session, threatening to walk out of the alliance.
Interestingly, the reason SAD was miffed lay in Maharashtra: the
party had reportedly stated that the BJP government in
Maharashtra was trying to gain control of the Takht Huzur Sahib
in Nanded through an amendment in Section 11 of the Takht Sri
Nanded Board Act. The amendment was done in 2015, but a
political controversy erupted in 2019, in the run-up to
seat-sharing talks.
Here are stocks that are in the news today :
Lupin:
USFDA classifies the inspection at the company's Mandideep (Unit
1) facility as 'Official Action Indicated'.
Satin
Creditcare Network: CARE revised its rating on the
company's commercial paper to A2+ from A1.
Reliance
Communications: NCLAT reserves order on RCom plea to
release funds
IOC, ONGC:
Facing revenue shortfall, government pushes companies to pay 2nd
interim dividend - PTI
Bajaj Consumer
Care: Company engaged the services of Bain &
Company which will help the company in formulating a front-end
strategy for growth and also help in implementing it.
Sun Pharma:
Subsidiary increased its stake in PJSC Biosintez, Russia to
96.96 percent from 85.10 percent earlier.
Lemon Tree
Signed a non-binding term sheet with Berggruen Hotels
GE T&D
India: Company received a technology-driven grid
modernization project from Rajasthan Rajya Vidyut Prasaran Nigam
Limited (RRVPL).
Wipro:
Chairman Azim Premji has earmarked another 34 percent of his
equity in Wipro worth Rs 52,750 crore towards Azim Premji
Foundation.
Unichem Labs:
USFDA approved the company's ANDA for Allopurinol tablets, USP
100 mg and 300 mg.
Essel Propack:
Company redeemed commercial papers amounting to Rs 50 crore and
Rs 35 crore.
Star Cement
received Rs 115.18cr owards its Freight Subsidy claims from the
Central Government and a further amount of Rs 42.55 cr s
expected to be received within a week's time
Deep
Industries: Company received 2 orders from ONGC in
the rigs segment valued at around Rs 183.50 crore.
Sicagen India:
Company made additional investment to the extent of SGD 1
million in subsidiary Wilson Cable Private Limited, Singapore.
HCL
Technologies: Company to acquire Strong-Bridge
Envision (SBE), a digital transformation consulting firm with
offices in Seattle, Denver, Atlanta, and New York City.
IOC:
Company has fixed March 28 as the record date for payment of 2nd
interim dividend, if declared, at the board meeting scheduled on
March 19.
Jet Airways:
Additional five aircraft have been grounded due to non-payment
of amounts outstanding to lessors under their respective lease
agreements.
DCM Shriram:
Company commissioned its 30 MW power plant at DSCL Sugar
Hariawan Unit.
SRS:
Company appointed Vikash Sharma as CFO.
SpiceJet
will seek compensation from Boeing and demand credit on
maintenance, repair, and overhaul for the 12 grounded 737 MAX
aircraft. The airline, which had an aggressive expansion plan
that banked on the delivery of the Boeing 737 Max, will now look
to lease old planes - BS
Reliance
halts diluents export to Venezuela, not raised oil buying-
Reuters
Bulk Deals on
March 13
NSE
Nagarjuna Oil
Refinery: Multiplier S and S Adv Pvt Ltd sold
29,42,339 shares and Nagarjuna Trust also sold 51,00,000 shares
of the company at 30 paise per share.
Reliance
Communications: IndusInd Bank Ltd client A/c sold 1.4
crore shares of the company at Rs 4.97 per share.
Saketh Exim:
TIA Enterprises Private Limited purchased 40,000 shares of the
company at Rs 105 per share.
BSE
SAB Events
& Governance Now Media: Union Bank of India sold
74,930 shares of the company at Rs 1.33 per share.
Hisar Metal
Industries: Abhiram Tayal purchased 27,500 shares of
the company at Rs 40.27 per share.
Indo US
Bio-Tech: Riddheshkumar Girishbhai Bhandari bought
36,000 shares of the company at Rs 82.50 per share.
Palm Jewels:
Sagar Rajeshbhai Jhaveri bought 1,04,000 shares of the company
at Rs 30.66 per share.
Analyst or
Board Meet/Briefings
Alembic Pharma:
NCD Committee meeting will be held on March 19 to consider the
issue and allotment of unsecured listed redeemable
non-convertible debentures (NCDs) of up to Rs 150 crore on
private placement basis.
Virinchi:
Officials of the company will be meeting investors and analysts
(participants) on March 14.
Alankit:
Management will be attending the Valorem Analyst Conference
2019, organized by Valorem Advisors to be held on March 15 in
Mumbai.
Container
Corporation of India: Company's officials will meet
analysts/institutional investors on March 15, 18 and 26.
DCM Shriram:
Company's officials will meet Bajaj Allianz Life Insurance
Company on March 18.
Magma Fincorp:
Company's officials will meet fund houses on March 14 and 15.
Voltas:
Company's officials will meet analysts/investors on March 14 and
15.
Mahindra
Logistics: One-on-one meeting with Premji Invest,
Institutional Investor is scheduled to be held on March 15.
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