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As of 3:26 p.m., the Dow Jones Industrial Average and S&P 500 futures were trading 0.24% and 0.41% higher, respectively. The Nasdaq 100 future was 0.56% higher.
US: Non-farm payroll — 7:00 p.m.
US: Unemployment rate — 7:00 p.m.
US: Federal Reserve Governor Michelle Bowman will speak at a panel discussion at the University of Chicago Booth School of Business US Monetary Policy Forum — 8:45 p.m.
US: Federal Reserve Bank of New York President John Williams will speak at at the University of Chicago Booth School of Business US Monetary Policy Forum — 9:15 p.m.
US: Federal Reserve Governor Adriana Kugler will speak at the Bank of Portugal’s Conference on Monetary Policy Transmission and the Labor Market, in Lisbon — 10:50 p.m.
US: Federal Reserve Chair Jerome Powell will speak at the University of Chicago Booth School of Business US Monetary Policy Forum — 11:00 p.m.
An FMCG distributors' body had filed a petition before Competition Commission of India, alleging anti-competitive practices by against quick commerce players Zomato-owned Blinkit, Swiggy and Zepto, people in the know told NDTV Profit. Read the full article here.
An Oversold Equity Market
India's fundamentals appear to be improving after a soft patch whereas share prices are materially lower
Save for negative global developments, this could be a turning point for stocks for the rest of 2025
Expect India to recover lost ground to EMs during 2025
The equity market continues to overlook good news
Cyclicals > Defensives, SMID > Large caps
Overweight Financials, Consumer Discretionary, Industrials & Technology and Underweight other sectors
This is likely to be a stock pickers' market, in contrast to one driven by top-down or macro factors since the Covid pandemic
AU Small Finance Bank Ltd. will raise Rs 1,500 crore via bonds, the exchange filing said.
Nestle India Gets SEBI Warning For Insider Trading Violation
Reliance Gets Upgrades As Analysts See 'Favourable Catalysts' Lifting Stock
BSE To Act On NSE F&O Expiry Shift Only After Hearing 'Market Voices', Says CEO Ramamurthy
India's top count refuses to stay the decision of Bombay High Court
The Supreme Court agreed to the argument of Adani Group that work has started on the Dharavi project
The Supreme Court heard an appeal against the order of the Bombay High Court, in which the petition filed by the Sectalink Technologies Corporation was dismissed.
The petition challenged the decision of the state government to give the Dharavi redevelopment project to Adani Property Limited.
Source: NDTV
Jana SFB given Authorized Dealer Category-I (AD-I) to deal in foreign exchange
Licence enables Jana to offer foreign exchange facilities to non-resident Indians (NRIs) and ease their banking transactions
Licence granted by the RBI allows them to buy and sell foreign exchange
Among the top 4 SFBs, Jana was the only one who was lacking the same
AU and Equitas secured AD-1 license in Apr’23, while Ujjivan secured this in Oct’24
A step towards transitioning to a Universal Bank over medium term
Change in expiry day will depend on what the market participants tell us in terms of feedback. Volumes are an outcome, BSE Ltd. provides products on the basis of what the market needs, said Sundararaman Ramamurthy, managing director BSE.
Markets going up and down is part of market behaviour. An investor should be very clear and conscious on what he is investing in. Stay invested for a longer time in a good mutual fund, said Ramamurthy.
DLF Gets 'Buy' Upgrade From Jefferies On Strong Cash Flow, Project Success
Indian Overseas Bank will consider fundraising through bonds on March 19.
Zee Shares Rise As Nuvama Sees Nearly 90% Upside After Promoter Raises Stake
Jana Small Finance Bank has received approval from the Reserve Bank of India to obtain an Authorized Dealer Category-I licence, enabling it to deal in foreign exchange.
Blue Star gains Rs 1,000 crore
Kalpataru Projects gains over Rs 800 crore after multiple order wins
Brigade Enterprises gains Rs 600 crore on new project launch
Hindustan Copper gains over Rs 600 crore as copper prices see continued uptick
Amber Enterprises gains Rs 400 crore
Quess Corp gains Rs 300 crore after receiving NCLT nod for 3 way demerger
Market breadth was skewed in favour of buyers. Around 2,212 stocks rose, 821 stocks declined, and 107 stocks remained flat.
At pre-open, the NSE Nifty 50 was trading 0.16% down at 22,508.65, and the BSE Sensex was 0.06% higher at 74,382.14.
The yield on the 10-year bond opened flat at 6.68%. It closed at 6.68% on Thursday, according to data on Bloomberg.
Rupee opened flat at 87.11 against the US dollar. It closed at 87.11 on Thursday, according to data on Bloomberg.
Context: Zee Entertainment Enterprises Ltd.'s promoters have bought 2.7 million shares worth Rs 27 crore via open market. Promoter’s stake has moved to 4.28% vs 3.99% earlier.
Maintain Buy at Rs 185 target, which implied a 89% upside
Quantum of promoter share acquisition seen as positive
Promoter buying belief in long-term prospects & growth potential
Promoter buying to boost confidence of minority investors
Stock currently trading at attractive valuations
Current P/E at 10x versus one year avg of 14x
Upgrade to buy with a target price Rs 710, which implied a 17% upside.
Growth has fallen from 23% to 9/11% in FY24/9mFY25 due to one-off events
Property documentation digitisation drive hit registrations in Karnataka (34% of the business)
Consistent miss on growth has de-rated the stock
Issues are temporary and competitive advantages being overlooked
Loan growth should recover to 11/14% YoY in FY26/27E
Growth improvement and diversification could improve ROE to 17%
Valuations are attractive due to overestimation of growth impact
Valued at 1.2xFY27E PBV
Inox Wind Energy Ltd. has secured an order for 153 MW wind turbines for a project located in Tamil Nadu.
Markets in Asia-Pacific were trading in losses tracking overnight losses on Wall Street as traders pull their money out of risky assets amid uncertainty over tariff.
The Nikkei 225 and KOSPI were trading 1.87% and 0.33%, down respectively. The CSI 300 was 0.16% down at 3,950.44 as of 8:12 a.m.
Stocks Sink As Tariff Back-And-Forth Roils Trading: Markets Wrap
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