Pre Market Analysis: Dalal Street may open higher; PVR, Inox Leisure, Adani Total Gas and Adani Ports in news today

Market Opening - An Overview

SGX Nifty futures 0.27 per cent higher at 17,238, signalling that Dalal Street was headed for a flat-to-positive start on Monday.

Most Asian shares were trading lower as investors were concerned over fresh lockdown in Shanghai. Nikkei fell 0.58%, Topix fell 0.34%, CSI 300 was down 0.35% and HAng Seng was up 1.49%.

Indian rupee rose 9 paise to close at 76.24 against the US dollar on Friday.

FII/DII Trading Data (25-03-2022)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

PVR and Inox Leisure: The board of the two theatre operators have approved an all-stock amalgamation of both the firms and the combined entity would be named PVR Inox. This is subject to shareholders and regulatory approvals. Ajay Bijli will be appointed as the managing director and Sanjeev Kumar would be appointed as the executive director.

Adani Total Gas Ltd: The company has forayed into the electric mobility infrastructure sector by launching its first EV charging station in Ahmedabad. The company aims to expand its network by setting up 1,500 EV charging stations across the country.

Adani Ports and SEZ (APSEZ) Ltd: The port operator has emerged as the highest bidder for the West Bengal government’s greenfield deep-sea port project at Tajpur in a neck-to-neck fight with JSW Group, a source said. West Bengal government expects that the first phase of the project will be completed in three-four years, and it will be operational.

IndiGo: The budget carrier has launched 100 flights connecting key domestic metro cities and regional centres, starting from March 27, 2022. The airline has introduced flights on 20 exclusive routes effective March 27, 2022. Besides, it will commence Regional Connectivity Scheme (RCS) route from Prayagraj-Lucknow on the same day. It also plans to re-commence 16 exclusive flights.

Vodafone Idea Ltd: Shareholders of the debt-ridden telecom operator have approved a proposal to raise Rs 14,500 crore, the company said in a filing. Promoter firm Vodafone plans to infuse up to Rs 3,375 crore into debt-ridden Vodafone Idea Ltd. Besides, Aditya Birla Group plans to pump in up to Rs 1,125 crore.

Bharti Airtel: The telecom company will acquire a 4.7 per cent stake in Indus Towers from Vodafone Group for about Rs 2,388 crore, according to a company filing. The transaction will be executed at a price of Rs 187.88 per share.

In other news, Airtel has entered into an agreement to acquire over 7 per cent stake in Avaada KNShorapur for Rs 1.74 crore as cash consideration, the telecom company said in a regulatory filing on Sunday.

Vedanta Ltd: The company said it will invest USD 1.5 billion across its oil and gas, zinc and steel businesses. Its board approved USD 687 million capital spending for drilling of new wells at the firm’s oil and gas unit, Cairn Oil & Gas, Vedanta said in a stock exchange filing. It also approved a USD 466 million phase-2 expansion of the Gamsberg zinc project in South Africa and another USD 348 million for steel expansion.

Emami: The FMCG major has acquired the ‘Dermicool’ brand from Reckitt for a total consideration of Rs 432 crore. The acquisition is funded through internal accruals and it is subject to the customary closing conditions, the company said.

Indiamart Intermesh: The B2B e-commerce company said it plans to acquire 51 per cent stake in software-as-a-service firm Livekeeping for Rs 45.98 crore in an all-cash deal. The acquisition is in line with Indiamart’s long-term objective of offering various software as a service-based solutions for businesses, it said. The transaction is expected to be completed in 60 days.

Torrent Power Limited: The company announced its completion of a Rs 300 crore acquisition of a 50 Mw solar power plant run by the special purpose vehicle held jointly by Lightsource Renewable Energy, British Petroleum and UK Climate Investments LLP (UKCI).

Reliance Power and Reliance Infrastructure: Anil Ambani has resigned as director of the two companies, following markets regulator SEBI order restraining him from associating with any listed company. The two Reliance Group companies said that Rahul Sarin has been appointed as an Additional Director in the capacity of Independent Director for a term of five years.

Vikas Ecotech Ltd (VEL): Specialty chemicals and polymer products maker is scouting for manufacturing facilities in the western region as it is drawing expansion and diversification plans. It is also aiming to clock Rs 360 crore revenue in the next financial year on the back of resumption of exports which were stalled due to Covid-19 pandemic, a top company official has said.

Aster DM Healthcare: The company said it will invest Rs 500 crore to set up healthcare facilities including hospitals, pharmacies and laboratories in Tamil Nadu. Aster, which is one of the largest integrated healthcare providers in GCC and India, has signed a memorandum of understanding with the Tamil Nadu government in this regard.