Pre Market Analysis: Dalal Street may open lower; ONGC, Lupin, Vedanta and HDFC AMC in news

Market Opening - An Overview

SGX Nifty futures were trading 0.64 percent lower at 17,597, signalling that Dalal Street was headed for a negative start on Friday.

Asian shares were trading lower, tracking a fall on Wall Street, on weak global sentiments and sell-off in technology stocks. Japan’s Nikkei dropped 0.73%, Topix fell 0.29%. China’s Hang Seng lost 0.84%, while CSI 300 rose 1.57% .

Indian rupee rose 12 paise to close at 75.78 against the US dollar on Thursday.


FII/DII Trading Data (30-03-2022)

CategoryBuy ValueSell ValueNet Value
FII/FPI12,274.819,186.083,088.73
DII7,944.476,799.191,145.28
*All numbers are in INR crore

Stocks in News Today

ONGC: The company plans to open another basin, Vindhyan as it details out commercialisation of a gas discovery in Madhya Pradesh. It has already opened seven out of India’s eight oil and gas producing basins. An exploratory well in Son valley sector in Madhya Pradesh’s Damoh district discovered gas, and on tests confirmed commercially available volumes, the company said.

Lupin: Mumbai-based drug maker said that it’s New Jersey facility has received thirteen observations from the US drug regulator. The facility accounts for less than 5 per cent Lupin’s global turnover. The observations do not, however, imply any restriction on supplies.

Vedanta: The mining giant said its board has approved a proposal to source 580 MW of green energy for its operations across India. The company said a power delivery agreement has been signed with the Sterlite Power Technologies Private Ltd.

HDFC Asset Management Company: Life Insurance Corporation of India has acquired 2.02 percent stake in the company through open market transactions. With this, its shareholding in the company rose to 7.02 percent, up from 5 percent earlier.

Future Retail: Some of the entities of Kishore Biyani-controlled Future group, for whom payments were due on March 31, have defaulted. Meanwhile, Future Retail’s Chief Executive Officer (CEO) Sadashiv Nayak on Thursday resigned from the post seven months after his appointment, according to a filing. 

Vodafone Idea: Vodafone Idea said its board has approved the allotment of 3.38 billion equity shares at Rs 13.30 per scrip to three promoters group entities – Euro Pacific Securities, Prime Metals and Oriana Investments – for about Rs 4,500 crore.

IndiGo: The company has partially reinstated salaries of its pilots with the stabilisation and growth in its operations.

Sterlite Technologies: The company has signed the definitive agreement to sell its 64.98 per cent stake in Maharashtra Transmission Communication Infrastructure (MTCIL). Total consideration of Rs 43 crore agreed to be received in multiple tranches.

Ruchi Soya Industries: The board has approved issue price at Rs 650 per equity share for its follow-on public offer.

Adani Enterprises: The company has won orders worth Rs 2,008.47 crore from National Highways Authority of India (NHAI). With this order, the company has assets worth of more than Rs 41,000 crores in road portfolio.

Exide Industries: The consumer durables player announced an investment of Rs 6,000 crore in Karnataka. This is for setting up one of the largest giga factories for advanced cell chemistry technology.