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Market Opening - An Overview
SGX Nifty futures were trading 0.22% higher at 17,188.50, indicating that Dalal Street was headed for a positive start on Tuesday.
Asian shares were trading higher with the Japan’s Nikkei rising 1.55%, Topix gaining 1.24%. Meanwhile, China’s Hang Seng rose 0.87% and CSI slipped 0.18%.
Oil prices rose as some European Union members mulled imposing sanctions on Russian oil and attacks on Saudi oil facilities by Iranian-aligned Houthis weighed on the crude market. Brent crude futures rose to $118.30 per barrel and the US crude advanced to $114.81 a barrel.
Indian rupee fell 32 paise to 76.11 against the US dollar on Monday.
FII/DII Trading Data (21-03-2022)
| Category | Buy Value | Sell Value | Net Value |
| FII/FPI | 6838.69 | 9800.81 | (2962.12) |
| DII | 4611.3 | 4358.39 | 252.91 |
| *All numbers are in INR crore | |||
Stocks in News Today
Sun Pharmaceutical Industries: The drug maker said that it has entered into a share purchase agreement with Japan’s Daiichi Sankyo Company to acquire the latter’s 11.28 per cent stake in Zenotech Laboratories. Sun Pharma said it will pay Rs 5.32 crore for the stake. Sun pharma aims to consolidate its holding in the target company. After this development, Sun pharma will hold 68.84% stake in Zenotech.
Zomato Ltd: The food delivery company said that it plans to deliver food in 10 minutes from next month, claiming that the cost to end customers may reduce by 50 per cent if the plan works as envisioned. The company said that ‘Zomato Instant’ will be kickstarted with four hyperlocal delivery stations in Gruguram – with each station stocking 20-30 dishes from different restaurants based on demand in the specific locality.
Future Retail: Indian lenders are likely to initiate debt recovery proceedings against the company to safeguard their interests after rival Reliance unexpectedly took over some of the retailer’s stores, Reuters reported citing two bankers. Bank of Baroda will be the first to take Future to the Debt Recovery Tribunal (DRT) and it is expected to file the paperwork this week.
Larsen & Toubro (L&T): The engineering conglomerate’s board will meet on March 24 to seek approval for raising funds including through issue of debt securities as part of the company’s refinancing programme.
Ruchi Soya: The company’s FPO amounting to Rs 4300 crore will open on Thursday. The company plans to use about Rs 3300 crore to retire debt and the remaining will be used for working capital and others. It has set the floor price at Rs615 to Rs650 per equity share on the issue.
Bank of India (BoI): The lender said that it has invested nearly Rs 109 crore in National Asset Reconstruction Company Ltd (NARCL) and its shareholding in NARCL has risen to 9 per cent as on March 21, 2022
REC Ltd: The board of state-run company approved a proposal to raise up to Rs 85,000 crore in FY2022-23 which includes Rs 75,000 crore from different type of bonds, term loans, external commercial borrowing among others.
Shankara Building Products Ltd: the company’s Managing Director Sukumar Srinivas offloaded over 10 lakh shares of the company for Rs 75 crore through an open market transaction. He sold 10 lakh shares at an average price of Rs 755 apiece. Meanwhile, APL Apollo Mart bought 10 lakh shares of Shankara Building at the same price.