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Market Opening - An Overview
SGX Nifty futures were trading 1.24% lower at 16990.50, signalling Dalal Street was headed for a gap-down start.
Asian stocks declined on Tuesday as tensions between the West and Russia over Ukraine escalated and oil prices surged. Nikkei tanked 2.17%, Topix fell 1.76%, Hang Seng plunged 2.67% and CSI 300 lost 1.68%.
Indian rupee rose 16 paise to 74.51 against the US dollar on Monday. Brent crude was trading at $96.77 per barrel.
FII/DII Trading Data (21-02-2022)
| Category | Buy Value | Sell Value | Net Value |
| FII/FPI | 4160.37 | 6422.27 | (2261.9) |
| DII | 6187.26 | 3794.41 | 2392.85 |
| *All numbers are in INR crore | |||
Stocks in News Today
Hindalco Industries: The company’s subsidiary, Novelis Inc, will build a $50 million (around Rs 373 crore) recycling and casting centre in South Korea to expand low carbon aluminium production. Fully funded by Novelis, the Ulsan Recycling Centre will have an annual casting capacity of 100 kilotonne of low-carbon sheet ingot.
Hero MotoCorp: The two-wheeler manufacturer said that it has created a new position, titled Chief Growth Officer, integrating the marketing, sales and after-sales functions and has appointed Ranjivjit Singh to the post with immediate effect. Singh was heading the marketing function at the company.
SBI Life Insurance: The company said that its promoter BNP Paribas Cardif, holding 0.2 per cent share capital, has requested to be reclassified as a public shareholder. The insurer said it will place the request for re-classification before its board of directors at the ensuing board meeting of the company.
Indian Railway Catering and Tourism Corporation Ltd (IRCTC): The company and Bank of Baroda Financial Solutions Limited (BFSL) have come together to launch the IRCTC BoB RuPay Contactless Credit Card, specially curated to offer maximum savings to frequent railway travellers. The IRCTC users will get cheaper tickets if they book any AC class railway ticket using a BoB credit card. This card will also get multiple benefits for shopping across other categories ranging from groceries to fuel.
IDBI Bank: IPO-bound Life Insurance Corporation (LIC) on Monday said it would like to retain some stake in IDBI Bank so that the insurer continues to reap the benefits of the bancassurance channel. IDBI Bank has been the strongest contributor for the bancassurance channel and it would help LIC to grow that particular channel in the post-IPO scenario, said LIC Chairman M R Kumar during a media interaction.
Vedanta: The company announced it has made an oil discovery in its exploratory well in Rajasthan’s Barmer district. In a regulatory filing, the company said it has notified the Directorate General of Hydrocarbons (DGH) and the Ministry of Petroleum and Natural Gas about the oil discovery in a block that was awarded to it under the Open Acreage Licensing Policy (OALP).
L&T Finance Holdings (LTFH): BNP Paribas Arbitrage bought shares of L&T Finance Holdings worth nearly Rs 413 crore through an open market transaction. As per block deal data on BSE, over 5.78 crore shares were purchased at an average price of Rs 71.35 apiece. This took the total deal value to Rs 412.9 crore.
NTPC: The state-run power company has paid an interim dividend of Rs 3,878.67 crore for FY22. The dividend paid is 40 per cent of the paid-up equity share capital of the company, it said in a statement.
HFCL: The company announced that it has joined the O-RAN Alliance, a global community of mobile network operators, vendors, research and academic institutions operating in the Radio Access Network (RAN) industry. As an O-RAN Alliance member, HFCL would focus on contributing to standards that ensure a true open and multi-vendor RAN network and to accelerate open innovation in 5G, the company said in a statement.
CG Power and Industrial Solutions: The company said that the Bombay High Court has quashed an assessment order of Rs 684.08 crore against the company issued by the I-T department. The court quashed the tax demand notice during a hearing on Monday, according to the company’s regulatory filing.
Sintex Industries: Lenders of the company will approach the National Company Law Tribunal (NCLT) to seek an extension of time for the completion of the Corporate Insolvency Resolution Process (CIRP) and select a bidder for the debt-ridden textiles maker. The Committee of Creditors (CoC) in a meeting held on Monday “discussed and approved the proposal for extension of CIRP period beyond 330 days”, Sintex Industries said in a regulatory filing.
Krsnaa Diagnostics: The company has won orders for providing diagnostic and laboratory services in Himachal Pradesh. Krsnaa will install, operate and maintain Routine and Advance Laboratory testing facilities at selected Public Health Institutions (PHIs) which includes Government Medical Colleges, Districts and General Hospitals owned by Government and Community Health Centers.