All You Need To Know Going Into Trade On March 11

Asian equities fell on Friday, following declines on Wall Street as the fastest inflation in 40 years drove U.S. bond yields higher and raised expectations for steeper interest-rate hikes.

Stocks in Japan and Australia slid, U.S. futures were little changed after a selloff on Thursday. The Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50 index, fell 0.58% to 16,474.5 points as of 7:05 am.

Oil pared overnight losses but is still more than 7% lower on the week. The 10-year U.S. Treasury yield was steady after touching above 2%, while the 30-year rate reached the highest since May 2021.

The European Central Bank unexpectedly accelerated its wind-down of monetary stimulus, signaling it’s more concerned about record inflation than weaker economic growth. Bitcoin hovered around $38,700.

• Colgate Palmolive: Managing Director and CEO Ram Raghavan has been promoted to president of the company's enterprise oral care division. Prabha Narasimhan will be the new MD and CEO of the company with effect from April 15, 2022.

• Future Consumer: The 50:50 joint venture between the company and Fonterra Co-operative Group will be terminated.

• Wipro: The company has announced a long-term partnership with Pandorum Technologies for development of technologies that shorten time-to-market and maximise patient outcome during R&D and clinical trials of regenerative medicine.

• Indraprastha Gas: Received a letter of intent from the Petroleum and Natural Gas Regulatory Board for for development of CGD network in Banda, Chitrakoot and Mahoba in Uttar Pradesh.

• Tata Steel: The company, along with Tata Steel Long Products, has executed the share sale agreement with MMTC, NMDC, MECON, BHEL, Odisha Mining Corporation, President of India, Government of Odisha, Neelachal Ispat Nigam for acquisition of 93.71% equity shares in NINL.

• Infosys: Announced a multi-year transformational collaboration with International Tennis Hall of Fame, making the company ITHF’s official digital innovation partner and title sponsor of the annual ATP Tour tournament — the Infosys Hall of Fame Open.

• Lupin: Lupin Diagnostics has launched its first reference laboratory in East India in Kolkata.

• NMDC: The company has executed the share purchase agreement for sale of its entire equity holding of 10.1% in Neelachal Ispat Nigam.

• Jindal Steel and Power: Declared interim dividend of Rs 1 per share.

• Kirloskar Ferrous: The company has acquired 51.25% stake in ISMT. Rahul Kirloskar will take over as chairman, Ravindranath Gumaste as vice chairman and Nishikant Balakrishna Ektare as MD.

• UCO Bank: The lender has acquired 3% equity stake in India Debt Resolution Company for a consideration of Rs 1.5 crore.

• Mahindra & Mahindra Financial Services: Mahindra Finance USA, a joint venture with Rabobank Group, has been extended.

• Bayer CropScience: The company will sell its Environmental Science Professional business to Cinven for $2.6 billion.

• Supreme Petrochem: The company has approved Phase II expansion of its expandable polystyrene plant at Nagothane, Maharashtra, by 30,000 million tonnes per annum. It also approved setting of second line of extruded polystyrene board with capacity of 100,000 MTA and increasing the masterbatch and compounds capacity by 50,000 MTA.

• Sun Pharma: Cipher extends distribution pact with the company.

EbixCash has filed with SEBI a draft red herring prospectus to raise as much as Rs 6,000 crore in an initial public offering. It may consider a pre-IPO placement worth up to Rs 1,200 crore. If so, the issue size will be reduced to the extent of such amount.

• Bajaj Hindusthan Sugar: Promoter group Anand Engineering revoked a pledge of 60.27 lakh shares on March 9.

• Max Financial Services: Promoter Max Ventures Investment Holdings created a pledge of 13.72 lakh shares on March 8.

• Emami: Promoter group Sneha Enclave created a pledge of 23.83 lakh shares between March 7 and March 8. Promoter group Suraj Finvest created a pledge of 5.88 lakh shares on March 7.

• Stove Kraft: Promoter Rajendra Gandhi created a pledge of 22 lakh shares on March 8.

• Bajaj Holdings & Investment: Promoter group Bachhraj & Company bought 1.01 lakh shares between March 7 and March 8.

• Elecon Engineering Company: Promoter group Akaaish Mechatronics bought 55,000 shares between March 7 and March 9.

• Safari Industries (India): Promoter group Safari Commercial LLP bought 30,000 shares on March 9.

• Vaibhav Global: Promoter group Brett Enterprises bought 1,500 shares on March 9.

• Geojit Financial Services: Promoter BNP Paribas SA sold 1.25 lakh shares between March 7 and March 8.

• Ramkrishna Forgings: Promoter & Director Chaitanya Jalan bought 16,000 shares between March 8 and March 9.

• DB Corp: Promoter Bhawna Agarwal bought 59,482 shares between Feb. 28 and March 9.

• Star Cement: Promoter & Director Sajjan Bhajanka bought 1.06 lakh shares on March 9.

• Nuvoco Vistas: Promoter Niyogi Enterprise bought 2 lakh shares on March 8.

• KCP: Promoter Group S Nalini bought 905 shares between March 2 and March 4.

• Nureca: Nexpact sold 54,914 shares (0.54% stake) at Rs 1,503.56 apiece.

• Coforge: Hulst B V sold 60 lakh shares (9.85% stake) at Rs 4,261.15-4273.24 apiece. Nomura India Investment Fund Mother Fund bought 4.67 lakh shares (0.76% stake) at Rs 4,260.04 apiece. Societe Generale bought 4.86 lakh shares (0.79% stake) at Rs 4,260 apiece.

• Dish TV India: Uno Metals sold 1.01 crore shares (0.55% stake) at Rs 15.8 apiece.

• Move into short-term ASM framework: Dwarikesh Sugar Industries

• Record date interim dividend: EID Parry (India)

• Ex-date interim dividend: Shriram Transport Finance Company

The rupee ended at 76.30 against the U.S. Dollar on Thursday as compared to Wednesday’s closing of 76.56.

• Nifty March futures ended at 16,566.35, a discount of 28.55 points.

• Nifty March futures shed 6.57% and 16,897 shares in Open Interest.

• Nifty Bank March futures ended at 34,440, a discount of 35.6 points.

• Nifty Bank March futures shed 7.95% and 9,497 shares in Open Interest.

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