All You Need To Know Going Into Trade On March 15
Asian equities have opened mixed at the start of a new trading week as treasury yields continue to remain near their highest in a year.
Benchmark indices advanced in Japan but edged lower in Australia while those in South Korea fluctuated. The focus is now on the Federal Reserve policy meeting later this week.
Oil prices rose while Bitcoin traded lower after crossing the $61,000 mark over the weekend.
The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.93% to 15,167 as of 7:00 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 110 points. The index closed 0.9% higher on Friday.
- U.S. Treasury Secretary Janet Yellen said that inflation risks remain subdued despite the $1.9 trillion stimulus.
- A Bloomberg survey of economists showed that a strong recovery from the Covid-19 recession is likely to prompt the Federal Reserve to raise interest rates in 2023, but that may not show up in their forecasts this week.
- Yield on the 10-year treasuries stood at 1.62%.
- West Texas Intermediate crude rose 0.4% to $65.9 per barrel.
Get your daily fix of the global markets here.
- Tata Communications: Government of India to sell 4.6 crore shares of the company or 16.12% of the total equity through an Offer for Sale. Post the OFS, the remaining stake shall be sold to Panatone Finvest, which currently holds 34.8% stake. After completion of the transaction, the government will cease to be a shareholder of Tata Communications.
- Supreme Petrochem: Board has approved plan to reduce share capital. The company will reduce the face value of paid-up shares from the existing Rs 10 per share to Rs 4 per share and will return Rs 6 per share to all shareholders. The scheme is subject to approval of shareholders, NCLT Mumbai, and all other regulatory and necessary approvals.
- SBI Cards and Payment Services: Board has approved fundraising of Rs 2,000 crore via NCDs in one or more tranches over a period of time.
- DLF: Board to meet on March 17 to consider the proposal of offering secured NCDs aggregating upto Rs 500 crore in one or more traches.
- Kotak Mahindra Bank: Board has approved the payment of dividend on 100 crore 8.10% Non-Convertible Perpetual Non-Cumulative Preference Shares of face value of Rs 5 each for the period commencing from April 1, 2020 till March 31, 2021. The record date for the same is fixed as March 19.
- Jindal Steel & Power: The company's steel production increased by 18% year-on-year to 6.53 lakh MT in February as compared to 5.54 lakh MT in the previous year. Sales increased by 14% to 5.45 lakh MT Vs 4.80 lakh MT in February 2020.
- GOCL Corporation: Board to meet on March 18 to consider and approve fund raising by way of private placement of redeemable NCDs to be issued in one or more tranches.
- Power Finance Corporation: Board has declared interim dividend of Rs 8 per equity share for FY21. The record date for the same is March 22.
- RITES: Board has declared interim dividend of Rs 4 per share. The record date for the same is fixed as March 20.
- Ujjivan Financial Services: The company has appointed Samit Ghosh as MD and CEO effective May 1 for a period of 3 years, after Ittira Davis resigned from the post with effect from March 12 to take up the Directorship role at the Board of Ujjivan Small Finance Bank. Ghosh's appointment is subject to shareholders approval. The company has further designated Sunil Patel as the Non-Executive Chairman with effect from May 1.
- Shankara Building Products: The company has decided to close retail stores in Tumkur and Thrissur as part of the operations rationalisation program. The net store count now stands at 95 stores.
- Dabur India: Herbodynamic India has been incorporated as a wholly-owned subsidiary of the company, in India.
- CDSL: Gets approval from IFSCA for formation of proposed subsidiary at GIFT IFSC.
- Dilip Buildcon: Gets Provisional Completion Certificate for four/six laning of Karodi-Telwadi road section of NH-211 in Maharashtra. The company is entitled to receive a bonus of Rs 5.08 crore in lieu of the earlier completion of the said project.
- Quick Heal: Promoters express their intention to participate in the share buyback process and offer up to an aggregate maximum of 46.06 lakh equity shares.
Pledge Share Details
- Adani Enterprises: Promoter Adani Tradeline LLP revoked pledge of 17 lakh shares on March 9.
- Laurus Labs: Promoters Satyanarayana Chava and Lakshmana Rao CV revoked pledge of 1.88 crore shares between March 9-12.
As reported on March 12.
- Action Construction Equipment: Promoter Mona Agarwal sold 35 lakh shares (3.08%) at Rs 164.54 per share. GMO Erisa Pool bought 7.69 lakh shares (0.68%) at Rs 165.09 per share and bought another 6.25 lakh shares (0.55%) at Rs 164.83 per share.
- Greenpanel Industries: Plutus Wealth Management LLP bought 35 lakh shares (2.85%) at Rs 175.10 per share. Westbridge Crossover Fund LLC sold 35 lakh shares (2.85%) at Rs 175.16 per share. Jwalamukhi Investment Holdings sold 54.19 lakh shares (4.42%) at Rs 175.02 per share.
- SBI Life Insurance Company: BNP Paribas Cardiff sold 5 crore shares (5%) at Rs 911.28 per share. BNP Paribas Arbitrage bought 90.20 lakh shares (0.90%) at Rs 910 per share. Government Of Singapore bought 1.67 crore shares (1.68%) at Rs 915 per share.
Who's Meeting Whom
- Tata Chemicals: To meet ICICI Prudential AMC on March 15.
- Tata Steel: To meet Bank of America Merrill Lynch on March 15 and BofA Securities on March 18.
- Tata Motors: To meet Antique Limited on March 17 and Sylebra on March 18.
- Mahindra & Mahindra: To meet Stewart Investors on March 15 and Capital International on March 17.
- Cipla: To meet East Lane Capital LLP on March 18.
- Bharat Forge: To participate in the Axis Auto Conference on March 16 and the Jefferies India Mid-Cap Summit on March 18.
- Price Band Revised From 10% To 5%: IFCI
- Price Band Revised From 10% To 20%: Religare Enterprises, Matrimony.Com
- Ex-Date EGM: The South Indian Bank
- Ex-Date Interim Dividend: Coal India
- Move Into ASM Framework: Elecon Engineering Company, Polyplex Corporation, Tata Steel Long Products, Matrimony.Com, Somany Home Innovation, Religare Enterprises
- Move Out Of ASM Framework: Dixon Technologies (India), Filatex India, Reliance Communications
- Move Into Short-Term ASM Framework: Quick Heal Technologies
- Move Out Of Short-Term ASM Framework: Vardhman Holdings, Symphony, Bodal Chemicals
- Godfrey Phillips India: Promoter KK Modi Investment And Financial Services bought 7,200 shares on March 12.
- Nilkamal: Promoters Hiten Parekh, Manish Parekh and Nayan Parekh bought 1,935 shares on March 10.
- Aditya Birla Fashion and Retail: Promoter IGH Holdings bought 18.15 lakh shares between March 8-9.
- HealthCare Global Enterprises: Promoter BS Ajaikumar bought 14,054 shares between March 9-10.
As reported on March 12.
Money Market Update
- The rupee ended at 72.79 against the U.S. Dollar on Friday as compared to Wednesday's close of 72.91.
- Nifty March futures ended at 15,036; premium of 6 points
- Nifty March futures added 2.6% and 3,881 shares in Open Interest
- Nifty Bank March futures ended at 35,458; discount of 38 points
- Nifty Bank March futures added 12.3% and 6,746 shares in Open Interest
- Nifty Put-Call Ratio at 1.36
- Enters F&O Ban: BHEL
- Out Of F&O Ban: Bank of Baroda
- Stocks In F&O Ban: BHEL, PNB, SAIL, Sun TV