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Market Opening - An Overview
Nifty futures on the Singapore Exchange were trading 0.50% higher at 16,021, signalling that Dalal Street was headed for a positive start.
Asian stock indices were mixed amid continued uncertainty over Russia’s invasion of Ukraine. Japan’s Nikkie rose 0.74%, Topix jumped 1%. In China, CSI 300 index lost 0.29%, while Hang Seng fell 1.12%.
Indian rupee rose 6 paise to 76.91 against the US dollar on Tuesday.
FII/DII Trading Data (08-03-2022)
| Category | Buy Value | Sell Value | Net Value |
| FII/FPI | 8283.13 | 16425.73 | (8142.6) |
| DII | 12923.51 | 6433.92 | 6489.59 |
| *All numbers are in INR crore | |||
Stocks in News Today
Tata Consultancy Services (TCS): The IT major is planning to revamp the organisation structure to align with customers more closely, as it aims to achieve USD 50 billion revenue by 2030, a source aware of the development said, according to PTI. With this new structure, TCS plans to focus on the customer journey, starting from acquisition incubation, growth and transformation.
HDFC Bank: The lender expects to see benefits of the new cards that has been issued after the Reserve Bank of India (RBI) lifted its embargo on the bank, from this month itself. This is because there is a 6-8 months lag for spends to pick up on new cards, said Parag Rao, country head, payments business, digital banking & consumer finance, HDFC Bank.
Housing Development Finance Corporation (HDFC): The mortgage lender has raised Rs 10,000 crore through 10-year bonds carrying a coupon of 7.18 per cent, Business Standard reported. The money will be deployed for business operations. The issue size was Rs 500 crore with a green-shoe option of Rs 9,500 crore.
Dish TV India: The company disclosed that its shareholders have rejected all three proposals, including the adoption of financial statements and reappointment of Ashok Mathai Kurien as director, at its AGM held on December 30, 2021. The announcement comes after the company was directed to disclose results by market regulator Sebi.
Eveready Industries India: The battery maker announced that its board has approved the appointment of Suvamoy Saha as the company’s new managing director for a period of 3 years effective March 8, 2022. Saha will replace MD Amritanshu Khaitan, who resigned recently.
NMDC: The iron ore miner hiked the prices of lump ore and fines by Rs 400 a tonne each with immediate effect. This is the second upward price revision in two weeks time. The company in a regulatory filing said that it has fixed the prices of per tonne lump ore at Rs 6,000 and that of fines at Rs 4,960 a tonne.
Adani Ports: Norway’s sovereign wealth fund has put Adani Ports among other companies like Canada’s Bombardier and South Korea’s Hyundai Glovis on its watch list for possible exclusion from investment due to ethical concerns.
Zydus Lifesciences: The company said its subsidiary has inked a pact to acquire a brand from the US-based BridgeBio Pharma. Sentynl Therapeutics, Inc — a US-based wholly owned subsidiary of Zydus Lifesciences — and BridgeBio Pharma, Inc have executed an asset purchase agreement for the sale of Nulibry (Fosdenopterin) for injection.