Most Asian-Pacific markets were trading lower in early trade on Tuesday, tracking overnight losses on Wall Street.
The Nikkei 225 was trading 21.53 points or 0.053% higher at 40,435.65, and the S&P ASX 200 was trading 4.50 points or 0.058 lower at 7,807.40.
The rally in U.S. stocks took a breather, with the market still heading towards its best week in 2024 amid speculation the Federal Reserve will be able to cut interest rates as soon as June, according to Bloomberg.
The S&P 500 index and Nasdaq Composite fell by 0.31% and 0.27%, respectively, as of Monday. The Dow Jones Industrial Average ended 0.41% lower.
Brent crude was trading 0.09% higher at $86.84 a barrel. Gold was higher by 0.10% at $2,174.05 an ounce.
India's benchmark equity indices ended higher on Friday, extending gains for a third straight day as ITC Ltd., Larsen & Toubro Ltd. and ICICI Bank Ltd. led the advance. The NSE Nifty 50 closed 84.80 points, or 0.39%, higher at 22,096.75, while the S&P BSE Sensex ended 190.75 points, or 0.26%, up at 72,831.94.
Indian equity market was closed on Monday on account of Holi.
Overseas investors remained net sellers of Indian equities for the third consecutive day on Friday. Foreign portfolio investors offloaded stocks worth Rs 3,309.8 crore and domestic institutional investors remained net buyers for the fifth day and mopped up equities worth Rs 3,764.9 crore, the NSE data showed.
The Indian rupee weakened by 28 paise to close at 83.43 against the U.S. dollar.
Stocks to Watch
UltraTech Cement: The company commissioned 1 MTPA brownfield cement capacity at the Uttarakhand unit. The total unit capacity is now at 2.1 MTPA.
ICICI Securities: The company received a warning from SEBI after an inspection of its books and records for merchant banking activities.
JSW Energy: The company's step-down unit is in a pact with Reliance Power to acquire a 45 MW wind power project in Maharashtra for Rs 132 crore.
Lupin: The company will sell its trade generics businesses in India to arm for Rs 100–120 crore on a slump sale basis.
Hindustan Aeronautics: The company has received an order worth Rs 194 crore from the Guyana Defence Force.
Sanghi Industries: Promoter Ambuja Cements sold a 2% stake in the company for Rs 258 crore. The promoter's stake currently stands at 60.44%.
Eicher Motors: The company incorporated its wholly owned subsidiary in the Netherlands, named Royal Enfield Europe BV.
Dr Reddy’s Laboratories: The company has entered into a licence agreement with Pharmazz to commercialise the first-in-class innovative drug Centhaquine in India.
UNO Minda: The company has entered into a technical licence agreement with Starcharge Energy to manufacture and sell electric vehicle supply equipment in India.
Schaeffler India: The company has reappointed Harsha Kadam as the managing director and chief executive officer for three years, effective from Oct. 1.
Raymond: The board approved selling the entire investment in wholly owned subsidiaries Raymond Apparel and Ultrashore Realty for a consideration of Rs 1.26 crore.
Garden Reach Shipbuilders & Engineers: The company has signed a contract worth Rs 26.45 crore with the Ministry of External Affairs for a fast patrol vessel.
Exide Industries: The company made an investment of Rs 110 crore in arm Chloride Metals via rights basis.
Medplus Health Services: The company has received a temporary suspension order for two of its stores.
Maruti Suzuki India: The company recalls 11,185 units of the Baleno and 4,190 units of the Wagon R on a possible fuel pump motor defect. It also agreed to acquire a 6.44% stake in Amlgo Labs for Rs 1.99 crore.
Reliance Industries: The company acquired a 100% stake in MSKVY Nineteenth Solar SPV and MSKVY Twenty-second Solar SPV from MSEB Solar Agro Power.
Mangalore Refinery and Petrochemicals: The board has approved the acquisition of 1.35 crore shares of Mangalore SEZ for Rs 47.18 crore from IL&FS. The company's stake in Mangalore SEZ is expected to increase from 0.96% to 27.92% post-acquisition. The company appointed Mundkur Shyamprasad Kamath as chief executive officer with effect from March 22.
Hinduja Global Solutions: The company entered into an agreement to sell its optical fibre assets to its subsidiary, Indusind Media and Communications for Rs 208.04 crore.
Mankind Pharma: Beige will sell up to 2.9% stake via block deal on March 26 at a price of Rs 2,103-2,214 per share, marking a discount of 0-5% against the March 22 closing price. At lower range, the offer size stands at Rs 2,456 crore.
Adani Ports: The company will buy 95% stake in Gopalpur Ports at an enterprise value of Rs 3,080 crore. It signed definitive agreements to buy 56% stake from SP Group, 39% stake from Orissa Stevedores.
Indoco Remedies: Wholly owned arm Warren Remedies commences commercial production of Pharmaceutical Intermediates
Bharti Airtel: The company has been fined Rs 114 crore from Gurugram Tax Authority for alleged inadequate payment of tax.
HG Infra Engineering: The company got LoA in consortium with Stockwell Solar Services from Jodhpur Vidyut Vitran Nigam for solar solar project estimated at Rs 534 crore.
Puravankara: The company launched residential project 'Purva Kensho Hills' in Bengaluru.
Zydus Lifesciences: The pharmaceutical company got tentative U.S. FDA approval for Letermovir tablets.
Jindal Stainless: IIT Kharagpur signed MoU with company to execute R&D projects.
Tech Mahindra: Step-down subsidiary Born Group will merge with arm Tech Mahindra (Americas).
Paradeep Phosphates: Central Pollution Control Board issued closure of operation notice to Odisha plant due to non-compliance of conditions prescribed by Odisha State Pollution Control Board.
Electronics Mart India: The company commenced commercial operations of multi brand stores under brand name ‘Bajaj Electronics’ in Hyderabad.
Kirloskar Ferrous: U.S.-based step-down subsidiary Indian Seamless stands fully dissolved and is no longer a unit of arm ISMT.
One 97 Communications: Praveen Sharma, senior vice president-business, resigned with effect from March 31.
New Offering
SRM Contractors: The company will offer its shares for bidding on Tuesday. The price band is set from Rs 200 to Rs 210 per share. The Rs 130.2 crore IPO is entirely a fresh issue. The company has raised Rs 39 crore from anchor investors.
Block Deals
Shriram Finance: Shriram Ownership Trust sold 77.78 lakh shares (2.07%), Shriram Value Services Ltd bought 77.78 lakh shares (2.07%) at Rs 2,310 apiece.
Savita Oil Technologies: Mehra Syndicate sold 20.73 lakh shares (2.99%), while SBI Mutual Fund bought 20.73 lakh shares (2.99%) at Rs 408 apiece.
Sundaram Finance: Sundaram Finance Ltd sold 55.56 lakh shares (2.51%) at Rs 191 apiece, while Trichur Sundaram Santhanam and Family bought 39.73 lakh shares (1.8%), Arjun Rangarajan bought 9 lakh shares (0.4%), and Srivats Ram bought 6.83 lakh shares (0.3%) at Rs 191 apiece.
Bulk Deals
Capacite Infraprojects: Valiant Mauritius Partners bought 37.69 lakh shares (5.11%) at Rs 274.92 apiece, while Subir Malhotra sold 25.25 lakh shares (3.43%), and Paragon Partners Growth Fund sold 7.5 lakh shares (1.01%) at Rs 275 apiece.
D B Realty: Pinnacle Investments sold 30 lakh shares (0.55%) at Rs 205.37 apiece.
Deep Industries: Morning Star Private Trust sold 3.32 lakh shares (0.51%) at Rs 261.5 apiece.
Rama Steel Tubes: L7 Hitech sold 38 lakh shares (0.75%) at Rs 13.25 apiece.
Insider Trades
JK Lakshmi Cement: Promoters Bengal and Assam acquired 35,263 shares on March 20.
Deepak Fertilizers and Petrochemicals: Promoter Robust Marketing Services bought 31,000 shares on March 18.
Berger Paints: Promoter U K Paints (India) bought 37,000 shares on March 21.
Usha Martin: Promoter Peterhouse Investments India sold 3 lakh shares between March 20 and 21.
NRB Bearings: Promoter Harshbeena Zaveri sold 19,139 shares between March 18 and 20.
Skipper: Promoter Ventex Trade bought 54,000 shares on March 21.
Wardwizard Innovations & Mobility: Promoter Wardwizard Solutions sold 4.11 lakh on March 19.
Star Cement: Promoter Nancy Choudhary bought 59,746 shares between March 18 and 20.
Pledge Share Details
Chambal Fertilizers and Chemicals: Promoter Zuari Industries created a pledge of 12 lakh shares on March 20.
Apollo Hospitals Enterprises: Promoter K Visweshwar Reddy revoked the pledge of 70,000 shares.
ADF Foods: Promoters Parul B. Thakkar and Sumer B. Thakkar created a pledge of 50,000 shares between March 20 and 22.
Ajanta Pharma: Promoter Ravi Agrawal and Trustee Ravi Agrawal Trust released a pledge of 9,770 shares on March 21.
Paisalo Digital: Promoter EQUILIBRATED VENTURE CFLOW created a pledge of 32 lakh shares on March 22.
Who’s Meeting Whom
Spencers Retail: To meet analysts and investors on March 28.
Zuari Industries: To meet analysts and investors on March 28.
Grasim Industries: To meet analysts and investors on March 28.
Union Bank of India: To meet analysts and investors on March 28.
Suprajit Engineering: To meet analysts and investors on March 27.
Trading Tweaks
Price band revised from 10% to 5%: Salzer Electronics, Swan Energy.
Price band revised from 20% to 10%: Manoj Vaibhav Gems N Jewellers.
Ex/record AGM: Varun Beverages.
Ex/record buyback: Garware Technical Fibers.
Moved into short-term ASM framework: Manoj Vaibhav Gems N Jewellers.
Moved out into short-term ASM framework: BCL Industries, Capri Global Capital.
F&O Cues
Nifty March futures up by 0.24% to 22,165.45 at a premium of 68.7 points.
Nifty March futures open interest down by 12.5%.
Nifty Bank March futures up by 0.29% to 46,929 at a premium of 65.25 points.
Nifty Bank March futures open interest down by 9.5%.
Nifty Options March 28 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 22,000.
Bank Nifty Options March 27 Expiry: Maximum Call Open Interest at 49,000 and Maximum Put open interest at 46,500.
Securities in ban period: Biocon, SAIL, Tata Chemicals, and Zee Entertainment Enterprise.
Money Market Update
The Indian rupee weakened by 28 paise to close at 83.43 against the U.S. Dollar.
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
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