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Market Opening - An Overview
Nifty futures on the Singapore Exchange were trading 2.50% lower at 15,837.50, signalling that Dalal Street was headed for a gap-down start on Monday.
Asian stock indices tanked on concern over the war in Ukraine and as crude oil prices neared an all-time high. Japan’s Nikkie tanked 3.15%, Topix was down 2.88%, Hang Seng plunged 3.25% and CSI 300 fell 1.93%.
Brent crude was trading at $128.68 per barrel and WTI crude was trading at $124.76 per barrel.
Indian rupee fell 25 paise to 76.16 against the US dollar on Friday.
FII/DII Trading Data (04-03-2022)
| Category | Buy Value | Sell Value | Net Value |
| FII/FPI | 5996.25 | 13627.27 | (7631.02) |
| DII | 11668.66 | 6929.67 | 4738.99 |
| *All numbers are in INR crore | |||
Stocks in News Today
Reliance Industries (RIL): The company announced the opening of the country’s largest business, commerce and cultural destination — the Jio World Centre — spread across 18.5 acres at Bandra Kurla Complex in Mumbai. The Jio World Centre will include a cultural centre, a musical fountain, an upscale retail experience, a curated selection of cafés and fine dining restaurants, serviced apartments and offices, and the convention facility.
Vodafone Idea Ltd: Promoter Vodafone plans to infuse up to Rs 3,375 crore into debt-ridden Vodafone Idea Ltd as part of the company’s proposed raising of funds worth Rs 14,200 crore. Aditya Birla Group also plans to pump in up to Rs 1,125 crore, according to a regulatory filing. The telecom operator will seek shareholders’ approval for raising up to Rs 14,500 crore as well as increase its authorised share capital to Rs 75,000 crore at its the Extraordinary General Meeting (EGM) to be held on March 26.
Punjab National Bank (PNB): The country’s second-largest bank said it was awaiting advisory from the Finance Ministry and the Reserve Bank with regard to SWIFT-related transactions with Russian entities. In view of the ongoing war between Russia and Ukraine, several countries including the US, Canada and certain European nations have blocked some Russian banks from using SWIFT, a system that is used for global banking transactions.
Maruti Suzuki India (MSI): The car maker’s Senior Executive Director (Marketing and Sales) Shashank Srivastava said that it needs to bolster its presence in the fast-growing SUV segment in order to maintain its dominance in the domestic passenger vehicle segment going ahead. Srivastava said that there will be several launches in the coming months.
PNB Housing Finance: The Mortgage lender’s board would take a call on raising capital, including through rights issue, after a failed attempt to garner Rs 4,000 crore by selling stake to Carlyle Group last year. A meeting of the Board of Directors of PNB Housing Finance Limited is scheduled to be held on March 9 to consider fund raising options by issue of equity shares through appropriate methods (including rights issue), subject to requisite approvals, the company said in a regulatory filing.
Mahindra and Mahindra (M&M): The automaker has signed a pact with Campervan Factory, an IIT Madras-incubated research-based caravan manufacturing company, to launch campers in India. These well-equipped campers, based on the double-cab Bolero Camper Gold platform, will cater to the self-drive tourism segment that is gaining popularity in the country.
YES Bank: The lender plans to raise equity capital to the tune of up to Rs 10,000 crore by selling shares through a qualified institutions placement (QIP) or in international markets through global depository receipts, American depository receipts, foreign currency convertible bonds, or other instruments, the company said in a notification to the London Stock Exchange. The capital raise is to further strengthen its common equity tier-1 (CET-1) ratio, ensure there is capital to support growth, and maintain adequate buffers to deal with any unforeseen impact from a position of strength.
Nazara Technologies: Digital gaming and sports firm will acquire a 33 per cent stake in Datawrkz Business Solutions, the company said in a regulatory filing. In addition to this, the board of Nazara Technologies has approved investment of up to Rs 30 crore in its subsidiary Next Wave Multimedia.
Info Edge Ltd: The company has acquired a 76 per cent stake in online dating company Aisle Network for Rs 91 crore, a regulatory filing said. Aisle runs multiple dating platforms on the web and mobile apps- Aisle, Anbe, Arike and HeyDil which allow users to browse through profiles of other users with the intent of finding their suitable partner.
Emami Ltd: The Kolkata-based FMCG major said it has acquired 19 per cent equity stake in direct-to-consumer (D2C) nutrition firm Tru Native F&B Pvt Ltd. Tru Native F&B markets nutrition products under the brand TruNativ, targetted at health and fitness enthusiasts. Emami did not reveal financial details of the deal.
HDIL: The company will meet on March 9th and 10th to discuss bids for acquiring the crisis-hit realty firm through insolvency proceedings. In a regulatory filing on Saturday, HDIL’s Resolution Professional Abhay N Manudhane informed that the “Twenty-Third meeting of Committee of Creditors will be held on 9th March 2022 and shall continue on 10th March 2022.”
Hatsun Agro Product Ltd: The company said its board will meet on March 9 to consider a proposal to sell assets of the company’s ready-to-eat business. In a regulatory filing, the company said its board of directors will be held on March 9 to consider and approve the proposal for the sale of assets of the RTE (ready-to-eat) business and its brand ‘Oyalo’ to the prospective buyer at a price mutually agreeable to the company and the buyer.