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Market Opening - An Overview
SGX Nifty futures were trading 0.35% lower at 17,195.50, indicating that Dalal Street was headed for a negative start on Thursday.
Asian shares were trading lower, tracking losses in Wall Street, as investors were concerned after Federal Reserve officials signalled the need for aggressive monetary policy to contain inflation and higher crude prices. Japan’s Nikkei fell 1.11%, Topix lost 0.99%. China’s Hang Seng inched down 0.09% and CSI 300 was down 0.73%.
Brent Crude was trading at $121.97 per barrel and WTI Crude rose to $114.73 a barrel.
Indian rupee fell 12 paise to 76.30 against the US dollar on Wednesday.
FII/DII Trading Data (23-03-2022)
| Category | Buy Value | Sell Value | Net Value |
| FII/FPI | 10223.97 | 9742.64 | 481.33 |
| DII | 4653.22 | 4947.45 | (294.23) |
| *All numbers are in INR crore | |||
Stocks in News Today
ICICI Bank: The Reserve Bank of India (RBI) has approved SBI Mutual Fund, along with other SBI group companies, to hold a 9.99% stake in ICICI Bank – the country’s second largest lender.
Meanwhile, ICICI Bank announced that it has launched a co-branded credit card in partnership with IPL tam Chennai Super Kings (CSK). The card is called ‘Chennai Super Kings ICICI Bank Credit Card’ and it has been specially designed with a range of exclusive privileges for millions of cricket fans of the IPL team.
Tata Consultancy Services: The Rs 18,000-crore share buyback programme of the IT major was subscribed over 7.5 times. According to data provided by stock exchanges, 300 million shares were tendered against the offer size of 40 million shares.
Sun Pharmaceutical Industries Ltd: The drug maker said that it along with its US-based arm Ranbaxy Inc, has signed a $485 million settlement with two plaintiff groups regarding Ranbaxy generic drug application antitrust litigation.
Hindustan Unilever Ltd (HUL): One of India’s largest spice maker MDH Ltd has refuted the reports of a possible sale of its business to FMCG maker HUL. The denial comes after some news reports suggested that MDH promoters are in talks to sell their business to HUL. “We do not comment on market speculation,” said an HUL spokesperson.
Ruchi Soya Industries: The company has allotted shares worth Rs 1,290 crore to anchor investors ahead of its Rs 4,300-crore follow-on public offering (FPO). A total of 19.83 million shares were allotted at Rs 650 apiece. The purpose of the FPO is to dilute the promoter holding in the company in order to comply with the 25 per cent minimum public shareholding norms.
Triveni Turbine: The company’s arm wholly owned subsidiary, Triveni Turbines DMCC, has inked an agreement to acquire 70 per cent equity of TSE Engineering in South Africa for 11.9 million South African rand. The acquisition of TSE will enable the growth of after-market business for rotating equipment in the South African Development Community (SADC) region. The acquisition is expected to be completed by March-end.
Nelco: Satellite services firm Nelco, part of Tata group, and US-based Omnispace have signed a strategic cooperation agreement to enable and distribute 5G non-terrestrial network, direct-to-device satellite services.
CreditAccess Grameen: The microfinance lender will raise up to Rs 1,500 crore through a public issue of bonds. The board of directors has considered and unanimously approved the proposal, it said in an exchange regulatory filing.
Piramal Enterprises: The company is planning to raise up to Rs 375 crore through issuance of non-convertible debentures (NCDs) on a private placement basis.
Zomato: Online food delivery platform Zomato said it has dissolved its step down subsidiary located in Canada. The subsidiary did not have any active business operation.