Before the market opens, know about the many factors that can have an influence on share prices and on the general trading climate in the stock markets.
The important and interesting developments around the world, happenings in the global markets, sentiments, and the overall news related to a stock or a company are some of the key indicators that you need to consider before investing in the stock market.
Also, the views of brokerages on select stocks and buy/hold/sell recommendations with target prices play a significant role in determining how the markets are going to perform.
Let’s know in detail the factors that could affect the stock markets today.
- Asian markets slipped in opening trade.
- Dow and S&P 500 experienced their worst day in nearly a month.
- S&P 500 dropped 0.4% to 2,792.62 after climbing nearly 0.5%, breaking back below the key 2,800 level. Dow slid 206 points.
- Trump has planned to end key preferences for India and Turkey and sent 60-day advance notice for terminating duty breaks.
- European markets closed higher.
- US crude oil ose-es 1.4% on trade deal hopes, OPEC supply cuts.
- Brent futures rose 60 cents at $65.67 a barrel, off a session high of $66.34.
- Oil prices rebound after sinking last week.
Important Business Updates & Stocks In News:
RIL: The company has entered into agreement for acquisition of equity shares of C-Square Info Solutions. The acquisition for Rs 22 cr and further investment of Rs 60 cr. The total investment will translate into 82% of equity capital in C-Square. It has also entered into an agreement for acquisition of Grab A Grub Services.
JET AIRWAYS: According to sources Jet Airways has pledged FDs worth Rs1500cr with SBI to stay afloat. SBI, PNB are likely to buy out exposure of other small lenders. Some lenders are hesitant to participate in debt-equity restructuring process. The size of rights issue is likely to be increased from Rs2500cr to Rs4000cr.
Additionally two aircraft grounded due to non-payment of amounts. The aircrafts were grounded due to outstanding payments to lessors under lease agreements. Chairman of Jet Airways Naresh Goyal has told his employees that remaining approvals are well underway for the BLPRP. He is confident of the situation easing up by March 18. He also said that the CEO and the team will ensure that a fresh detailed update will be provided to his employess by March 18.
JSPL: The company has emerged as the lowest bidder for RVNL Rail Tender
SBI: The bank has reports frauds of Rs 7,951 Cr in the first 9 months of FY19. The frauds are mainly due to declaration of frauds in few large value advances. All these accounts had become NPAs much earlier. Most of the portfolio is already provided for with 100% provision. The Resolution Process for recovery through DRT/NCLT/SARFAESI is also underway.
On more news on the PSB, RBI has levied a penalty Rs1 Cr for delayed implementation of daily reconciliation of Swift transaction logs.
PNGRB: PNGRB has rejected Adani Gas' application for CNG retailing in Jaipur, Udaipur. PNGRB said Adani gas is not in compliance with regulations for CG retailing license.
Adani Power: The government has approved Adani Power's Rs14,000 Cr Jharkhand SEZ project
Aurobindo Pharma: The company has completed $300mn deal to acquire 7 oncology products from Spectrum Pharmaceuticals Inc.
Info Edge: Zomato has sold its UAE Food Delivery business to Delivery Hero Group for $172 Mn, with an additional equity investment of $50 Mn, taking the total deal size to $222mn. Zomato will continue to run the said business on its own platform. Zomato continues to own and run its other businesses such as Ad Sales, Gold etc. in the country. The company has concluded its ongoing funding round with an additional 2nd tranche of about USD 105m. The new investors in this round include Delivery Hero and Glade Brook Capital. The company's shareholding in Zomato will be 26.38% on a fully converted & diluted basis.
ICICI Bank: The bank has acquired 9.9% stake in Kisan Finance for Rs 17.8 Cr. The FY18 turnover of Kisan Finance stood at Rs 4 Lac.
Bank of Baroda: Hasmukh Adhia has been named as the Non-Executive Chairman of Bank Of Baroda. The cabinet panel has approved Hasmukh Adhia's appointment as BoB non-exec chairman.
Central Bank of India: According to reports, the bank will sell Rs3325 Cr bad loan accounts, including Essar Steel and Bhushan Power and Steel. The bank is also looking to sell bad loan accounts of Alok Industries and Bombay Rayon in FY19.
Mahanagar Gas Limited: Shell India may sell 10% stake in MGL. Shell India plans to exit the city gas distribution business and focus on other ventures.
ONGC: According to reports ONGC Videsh Ltd will exit hydrocarbon block No.128 and swap its South China Sea Block with another in Vietnam. This move comes against the backdrop of India setting in motion a process to improve ties with China.
Biocon: Biocon has named Christiane Hamacher as CEO of Biocon Biologics.
TATA Motors: Jaguar Land Rover os preparing to announce investments in U.K. Tata Motors has clarified that there was no truth to the rumours that the company is looking to divest its stake in JLR.
TATA Metaliks: The company will seek approval to raise about Rs 400 Cr via warrants, shares to Tata Steel.
SpiceJet: The airline has launched 10 new UDAN flights. The have launched 8 daily direct flights to Gwalior.
Cochin Shipyard: The company has bagged an order from JSW Group unit for 4 mini bulk carriers.
Vedanta: The SC has admitted a pleas to restart the copper plant. The court will hear the plea nect on March 27.
HPCL: The company has appointed R Kasavan as the CFO
Tata Steel: The company has raised Rs 4,315 Cr via allotment of debentures.
L&T: According to reports, government will sell almost all SUUTI stake in L&T to meet divestment target. The second sale of SUUTI stake this fiscal year. The centre holds a 1.85 stake in L&T. The stake is valued at a little over Rs 3,300 crore as of Friday’s closing price.
L&T Infotech: The company has completed acquisition of Germany's Nielsen+Partner (N+P) along with identified subsidiaries. The company had announced acquisition of Germany's Nielsen+Partner for EUR28mn (approx. Rs224.15cr).
Piramal Enterprises: The company, according reports have cut exposure to realtors, raises home finance share. Piramal Capital & Housing Finance had a loan book of Rs 55,255 cr
Coal India: The company is aiming to meet 610 million tonne production, off-take target. Coal India's total production as on February stood at 528 MT, up 6.6% from April to Feb
BHEL: The company has installed its first Solar EV Charging Station in upcoming network of charging stations on the Delhi-Chandigarh highway. The project is covered under the FAME scheme. BHEL has also developed a Central Monitoring System (CMS) for EV Chargers.
Tata Communications: The company has appointed Sumeet Walia as Chief Sales and Marketing Officer.
NTPC: The company will acquire stressed assets under insolvency in NCLT with aim to get fair deals.
DLF: The company's sales bookings to jump over two-fold to Rs 2,400 Cr this fiscal. The bookings are likely to jump this year on rising demand of completed housing units. The company expects that it will sell finished housing inventories worth Rs 12,500 Cr in the next 3-5 years.
GMR Infra: The company has divested stake in Asia Pacific Flight Training Academy for a token consideration. The company had accumulated losses of Rs. 11.37 Cr
Voltas: Voltas is expecting its home appliances biz to capture at least 20% market share by 2025. The company is planning to enter the direct cool refrigerator segment. The overall investment for home appliances biz is over Rs 1,000 Cr. The company is currently investing over rs 500 cr to set up a manufacturing facility at Andhra. Voltas also said that they were looking forward to a 15% growth in the upcoming summer.
IDBI Bank: The bank has received a nod to handle import, export transactions with Iran
NLC India: The company has commissioned entire 500 mw solar power projects in Tamil Nadu.