Market Last week, the Sensex has once again placed above 58,000 and the Nifty 50 near the level of 17,350. Markets were on a positive note following a hike in US Fed rates and softening crude oil prices and a marginal decline in commodity prices eased. In addition, progress in the Russia-Ukraine talks further boosted confidence.
On Friday, the Sensex closed at 57,863.93, up 1047.28 points, or 1.84 per cent. The 30-point benchmark has crossed 58,095 on the day. The Nifty 50, however, ended with a gain of 311.70 points or 1.84% at 17,287.05 after touching a high of 17,344.60.
In the coming week, markets will continue to assess the volatility in oil prices as well as developments in the Russia-Ukraine conflict. On Monday, investors will look forward to remarks from US Fed Chair Jerome Powell on the economic outlook at the annual conference of the National Association for Business Economics.
On Monday, here is the list of stocks that will be focussed on BSE and NSE.
Jindal Steel & Power (JSPL): The company’s wholly-owned Jindal Steel & Power (Mauritius) has prepaid loans of $357 million to its lenders. This prepayment will help JSPML repay the entire debt. There was a corporate guarantee from JSP India on this loan, which will be issued. Over the past three years, JSP has been able to reduce its external debt from $1.8bn to $130mn following this payment.
Ruchi Soya: The company has fixed a floor price of Rs 615 to Rs 650 per equity share on its follow-on public offering of Rs 4,300 crore. Under the issue, the Board of the Company has approved a minimum bid of lot size of 21 and thereafter in multiples of 21 equity shares.
Wockhardt: The company has tied up with Serum Life Sciences UK Limited, a subsidiary of Serum Institute of India, one of the world’s largest vaccine manufacturers, to offer a global vaccine programme. The tie-up will lead to the creation of a new sterile fill and finish facility in Wrexham, North Wales (the ‘New Facility’) as well as generate significant employment opportunities. Profit sharing arrangements have been made between the two sides for this new facility, which will distribute an additional 150 million vaccine doses of multiple vaccines.
Intrasoft Technologies: The company announced to raise up to Rs 50 crore through the rights issue and the net proceeds of the rights issue, inter alia, for investment in our e-commerce subsidiary, to finance their e-commerce business and growth initiatives will be used. The company has appointed Pantomath Capital Advisors Pvt Ltd, a mid-market investment banker, to manage the rights issue.
Maruti Suzuki: Suzuki Motor Corporation (SMC) signed a Memorandum of Understanding with India’s Gujarat state to invest around 150 billion yen (about Rs 104.4 billion) for local manufacturing of electric vehicles (BEVs) and BEV batteries.
Tata Alexi: The company has launched TENGAGE, the first truly digital health platform designed for omnichannel care, at the HIMSS Global Health Conference and Exposition to be held in Orlando, Florida, from March 14-18, 2022. Tata Alexi’s Tengage provides hospitals and healthcare providers with an all-channel integrated patient experience and healthcare anytime, anywhere.
Granules India: The company has received a license from the Medicines Patent Pool (MPP) to manufacture and sell a generic version of Pfizer’s oral treatment Nirmatralevir, which will be packaged with Ritonavir for the treatment of COVID-19. The licenses apply for nirmatrelavir, in tablet form, both for the active pharmaceutical ingredients (APIs) and for the finished products; ritonavir
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