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Market Opening - An Overview
SGX Nifty futures were trading 1.49% lower at 16266.50 , hinting that Dalal Street was headed for a negative or gap-down start on Friday.
Asian stock indices tumbled on Friday over growing fears about the Ukraine war as various news reports said that a fire had broken out at Europe’s biggest nuclear power plant after it was hit by Russian shelling.
Japan’s Nikkie tanked 2.03%, Topix plunged 1.59%, Hang Seng was down 2.20% and CSI 300 fell 0.42%.
Indian rupee fell 21 paise to 75.91 against the US dollar on Wednesday. Meanwhile, Brent crude was trading at $112.14 per barrel and WTI crude was trading at $109.65 per barrel.
FII/DII Trading Data (03-03-2022)
| Category | Buy Value | Sell Value | Net Value |
| FII/FPI | 7153.44 | 13798.09 | (6644.65) |
| DII | 11803.36 | 7004.12 | 4799.24 |
| *All numbers are in INR crore | |||
Stocks in News Today
Vodafone Idea: The telecom operator said that the board has approved fund raising of Rs 4,500 crore on a preferential basis, through its promoters. The company will issue more than 338.3 crore equity shares at an issue price of Rs 13.30 per share to Euro Pacific Securities, Prime Metals, and Oriana Investments Pte Ltd. The company also said it has received board approval for additional fund raising of Rs 10,000 crore via private placement or qualified institutions placement.
Future Retail: The Supreme Court took note of the submission of US e-commerce major Amazon and adjourned by 10 days the hearing on its plea against the Delhi High Court’s order staying the arbitration proceedings over Future Retail’s merger deal with Reliance Retail, for exploring the possibility of resolving the dispute through dialogue.
Indian Oil Corp (IOC): The company will supply 12-13 fuel cargoes to Sri Lanka to help the island nation facing an energy crisis, the Indian company said, Reuter news reported. “The supplies shall be made under a $500 million line of credit extended by the government of India to Sri Lanka for purchase of fuels,” it said.
Axis Bank: The lender said that it has committed a USD 150 million (about Rs 1,140 crore) loan for strengthening the healthcare infrastructure in the country in association with IPE Global, in the aftermath of the pandemic. The continued threat of new variants has reinforced the need to boost investments and partnerships in the health sector.
Tata Steel: The company will double its capacity from the current 20 million tonnes in India to 40 million tonnes during this decade, Tata Sons chairman Chandrasekaran said after paying his homage to its founder Jamsetji Nusserwanji Tata on his 183rd birth anniversary. He also said the performance of Tata Steel is “historic” but its best is yet to come.
Mahindra & Mahindra Financial Services: The firm has disbursed approximately Rs 2,733 crore of loans in February 2022, registering a 44 percent YoY growth. The year-to-date total disbursement was Rs 23,632 crore, a growth of 42 percent over same period last year. The collection efficiency remained stable at 98 percent for the month of February YoY.
Bajaj Hindusthan Sugar: The company received the board’s in-principle nod for exploring options for capital restructuring, resolution plan for debt and other corporate restructuring. The board also delegated powers to the company officials to explore/evaluate these various options in consultation with advisors.
PTC India Financial Services Limited (PFS): Market regulator Sebi has denied permission to crisis-hit PTC India to hold a board meeting without independent directors, the company said. In January, all the three independent directors on the company’s board had resigned over corporate governance issues and other matters.