Pre Market Analysis: Dalal Street is likely to open higher; Airtel, Tata Power and PNBHF in news today

Market Opening - An Overview

SGX Nifty futures were trading 1.62% higher at 16,588, signalling Dalal Street was headed for a positive or gap-up opening. 

Asian equity indices rebounded, tracking its global peers as investors and traders stepped in to buy the dip. Japan’s Nikkie and Topix soared 3.84% and 3.58%, respectively. In China, CSI 300 index jumped 2.4% and Hang Seng rose 2.05%.

The rupee appreciated 38 paise to close at 76.62 against the US dollar on Wednesday


FII/DII Trading Data (09-03-2022)

CategoryBuy ValueSell ValueNet Value
FII/FPI9370.814189.51(4818.71)
DII11078.087802.143275.94
*All numbers are in INR crore

Stocks in News Today

Bharti Airtel: The company has entered into an agreement resulting into acquisition of aggregate 9 per cent equity stake in Avaada CleanTN Project, a special purpose vehicle formed for the purpose of owning and operating the Captive Power Plant.

Tata Power: The company said its Singapore-based JV Resurgent Power Ventures has won the bid to buy the stressed asset of South East UP Power Transmission Company through its resolution process under the Insolvency and Bankruptcy Code. Tata Power did not disclose the bid offered by Resurgent Power Ventures.

PNB Housing Finance (PNBHF): The company plans to raise up to Rs 2,500 crore in equity by issuing shares through rights issue to meet capital adequacy norms and support business growth. It would communicate issue price, entitlement ratio and timing in due course, the company informed the stock exchanges.

Zydus Lifesciences: The drug maker said it has received approval from the US health regulator to market Nitroglycerin Sublingual tablets, used to treat chest pain, in the American market. The drug will be manufactured at the group’s formulation manufacturing facility at SEZ, Ahmedabad.

Kajaria Ceramics: The tiles maker announced the launch of its largest store in the country to sell tiles and bathware products. The 100th Kajaria Eternity World showroom, which has come up in an 11,000 square feet area in Lajpat Nagar, offers tiles and Kerovit bathware products under one roof.

Raymond: The leading textile and apparels firm said it has appointed Sunil Kataria as the CEO of its lifestyle business. It has strengthened its leadership team by on-boarding the seasoned professional reckoned for leading large-scale business transformations and creating strong consumer brands in India and Southeast Asia.