PRE MARKET
Gift Nifty indicates a positive start for the broader index in India, with a gain of 370.50 points or 1.65 percent. The Nifty futures were trading around the 22,835.50 level.
The three main U.S. stock indexes finished Monday’s session up more than 1% as oil prices fell after President Donald Trump said he had ordered the military to postpone strikes against Iranian power plants following “productive conversations” with Tehran.
The Dow Jones Industrial Average rose 631 points, or 1.38%, to 46,208.47 while the S&P 500 gained 74.52 points, or 1.15%, to 6,581 and the Nasdaq Composite gained 299.15 points, or 1.38%, to 21,946.76.
Asian stocks rallied, oil prices nursed losses, and the dollar wobbled on Tuesday after U.S. President Donald Trump postponed the bombing of Iran’s power grid, allaying fear of a deeper energy shock.
Japan’s Nikkei, Hong Kong’s Hang Seng, and the Taiwanese weighted index edged up 0.66, 1.20, and 0.31 percent, respectively.
STOCKS IN NEWS
SEPC
The board has approved the acquisition of a 90 percent stake in Avenir International Engineers and Consultants LLC, Abu Dhabi, for Rs 1,530 crore. The acquisition will enable SEPC to expand into the global oil and gas sector.
IFRC
Indian Railway Finance Corporation has signed a major rupee term loan agreement with Hindustan Urvarak and Rasayan (HURL) for the refinancing of its existing long-term debt of up to Rs 12,842 crore.
GNG Electronics
The company has entered into a supplemental and amendatory agreement dated March 10 to its facility agreement with ICICI Bank. The overall limits have been enhanced from Rs 40 crore to Rs 72 crore. Additionally, the company entered into an addendum dated February 23 to the principal working capital facility agreement with Axis Bank, enhancing the existing credit facilities from Rs 44 crore to Rs 65 crore.
Dredging Corporation of India
The board has approved the appointment of Captain S Divakar as Managing Director and Chief Executive Officer (Additional Director – Executive and Non-Independent) and Key Managerial Personnel (KMP) of the company.
Wipro
The company has announced the expansion of its business operations in South Korea with the launch of a new Innovation Lab as part of the Wipro Innovation Network (WIN). It continues to invest in local talent to support South Korean clients both locally and globally.
Source – Moneycontrol
