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All You Need To Know Going Into Trade On March 10
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
10 Mar 2021, 07:43 AM IST 
A woman working from home. (Photographer: Hollie Adams/Bloomberg)
Asian equities are mixed in mid-week trading. The U.S. Dollar and treasury yields have held overnight losses.
Benchmark indices in South Korea saw modest gains while those in Japan are fluctuating. A rebound in growth shares saw the Nasdaq see its biggest single-day gain since November last year.
Oil prices were around the $64 per barrel mark while Bitcoin traded above $55,000.
The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.4% to 15,223 as of 7:15 a.m.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
Let’s take a look at the factors that may influence equities in today’s session:
- Futures on the Dow Jones are trading with gains of 30 points. The index ended little changed on Tuesday.
- Yields have been climbing of late along with economic growth expectations, said Lauren Goodwin, portfolio strategist at New York Life Investments. That still favors cyclicals over defensive assets and “supports equities over bonds, and a weaker U.S. Dollar,” she said.
- Australian bond yields extended a move lower after the central bank governor suggested that the markets may be getting ahead of themselves by pricing in an earlier interest-rate increase.
- Data of the EIA crude oil inventory along with U.S. cconsumer price index for February will be reported later today.
- Yield on the 10-year treasuries stood at 1.53%.
- West Texas Intermediate crude traded at $64 per barrel.
Get your daily fix of the global markets here.
Stocks To Watch
- AU Small Finance Bank: Approves launch of QIP issue on Tuesday. The floor price of Rs 1,181.06 per share is a 4.4% discount to Tuesday's closing price. The board will meet on March 15 to determine the QIP issue price. In a separate filing, the lender said that its whole-time director Uttam Tibrewal intends to sell 10 lakh shares among those held by him, citing personal commitments.
- Godrej Properties: Launched QIP issue on Tuesday. Floor price of Rs 1,513.39 per share is a 3.4% premium to Tuesday's closing price. The board to meet on March 15 to determine the QIP issue price.
- Max Healthcare: Board announced closure of the QIP, launched on Thursday, March 4. The issue price of the QIP has been fixed at Rs 195.4 per share.
- Confidence Petroleum India: The company has decided to set-up CNG-High Pressure Cylinder manufacturing unit near Nagpur with a capacity of 3.60 lakh cylinders per annum of various capacities. The company has also decided to workout feasibility for putting Cryogenic Cylinder manufacturing unit near Nagpur having capacity of 1.5 lakh units per annum of various capacities. Further the company has also given approval for putting LNG Tanks manufacturing unit near Nagpur.
- Indian Bank: Board approves raising funds to the tune of Rs 4,000 crore through the QIP route in one or more tranches, subject to statutory and regulatory approvals.
- Infibeam Avenues: The company has fixed March 20, 2021 as the record date for issue of bonus shares.
- JSW Energy: The Finance Committee has approved the allotment of 1,750 secured NCDs of Rs 10 lakh each aggregating to Rs 175 crore for a tenure of 3 years and at the coupon rate of 3.25% per annum.
- Jubilant Foodworks: The company's wholly owned subsidiary, Jubilant Foodworks Netherlands B.V., has successfully completed the acquisition of 100% of Fides Food Systems Coöperatief U.A., Netherlands which holds 32.81% equity shares in DP Eurasia N.V. Consequently, the company stands fully released from the guarantee issued by it in connection with the investment obligations of Jubilant Foodworks Netherlands B.V.
- Power Finance Corporation: Board to meet on March 12 to consider interim dividend for FY21. The record date for the same if any, is fixed as March 22.
- Magma Fincorp: Shareholders have approved preferential allotment of 49.37 crore shares of face value Rs 2 each at an issue price of Rs 70 per equity share aggregating up to Rs 3,456 crore, to Rising Sun Holdings and existing Promoters, Sanjay Chamria and Mayank Poddar. The preferential allotment will result in Rising Sun acquiring controlling stake of 60% in Magma Fincorp. The transaction is subject to necessary regulatory/ statutory approvals.
- Nalco: Board to meet on March 15 to consider interim dividend for FY21. The record date for the same if any, is fixed as March 23.
- Power Grid Corporation Of India: The company has acquired Ramgarh New Transmission Ltd, the project SPV to establish transmission system strengthening scheme for evacuation of power from solar energy zones in Rajasthan (8.1 GW) from the Bid Process Coordinator - REC Power Distribution Company. The transmission system comprises establishment of a new 400/220kV substation, 400kV DIC transmission lines and associated substation extension works in Rajasthan. The transmission system is an inter state transmission system project and will be completed in 18 months. The cost of acquisition is Rs 5.61 crore.
Pledge Share Details
- Max Financial Services: Promoter Max Ventures Investment Holdings revoked pledge of 14.77 lakh shares between March 4-5.
- Jindal Steel & Power: Promoter OPJ Trading revoked pledge of 8.80 lakh shares on March 8.
- Adani Transmission: Promoter Adani Tradeline LLP revoked pledge of 4.29 lakh shares on March 8.
As reported on March 9.
Bulk Deals
- Bharat Petroleum: ICICI Prudential Mutual Fund bought 1.38 crore shares (0.64%) at Rs 438.1 per share.
- Tourism Finance Corporation of India: Triumph Global India bought 4.50 lakh shares (0.56%) at Rs 66.57 per share.
Who’s Meeting Whom
- Indian Energy Exchange: To meet William Blair on March 10.
- Mahindra Holidays & Resorts India: To meet Dolat Capital on March 10.
- UltraTech Cement: To meet Franklin Templeton Investments on March 10.
- lndoStar Capital Finance: To meet Motilal Oswal Financial Services on March 10.
Trading Tweaks
- Price Band Revised From 10% To 5%: HLE Glascoat
- Price Band Revised From 5% To 20%: SMC Global Securities
- Ex-Date Interim Dividend: Kirloskar Ferrous Industries, Marico
- Ex-Date Dividend: DIC India
- Ex-Date Right Issue: WEP Solutions
- Ex-Date EGM: Wanbury
- Record Date Interim Dividend: Thangamayil Jewellery, KEI Industries
- Record Date Stock Split: Trio Mercantile & Trading
- Record Date Bonus Issue: Trio Mercantile & Trading
- Move Into ASM Framework: Jain Irrigation Systems, Jayaswal Neco Industries
- Move Into Short-term ASM Framework: Saregama India, Praj Industries
- Move Out Of Short-term ASM Framework: Greaves Cotton, Aditya Birla Capital, Eveready Industries India
Insider Trades
- Godrej Industries: Promoter Arel Enterprise LLP bought 1.66 lakh shares between March 3-4.
- Vardhman Textiles: Promoter Devakar Investment And Trading Company bought 5,000 shares on March 8.
- Astra Microwave Products: Promoters (Prasanna Lakshmi and C. Prameelamma) sold 1.20 lakh shares on March 5.
As reported on March 9.
Money Market Update
- The currency ended at 72.92 against the U.S. Dollar as compared to Monday's close of 73.25.
F&O Cues
- Nifty March futures ended at 15,145; premium of 47 points
- Nifty March futures shed 9.9% and 16,992 shares in Open Interest
- Nifty Bank March futures ended at 35,948; premium of 83 points
- Nifty Bank March futures shed 6.8% and 4,135 shares in Open Interest
- Nifty Put-Call Ratio at 1.68
- Stocks In F&O Ban: Bank of Baroda, PNB, SAIL, Sun TV
