After gaining over 2.5 per cent in the previous week, BSE Sensex and Nifty 50 are set to start the week on a positive note on Monday
Market participants will closely watch trends in long-term bond yield, crude oil prices and macroeconomic data this week.
After gaining over 2.5 per cent in the previous week, BSE Sensex and Nifty 50 are set to start the week on a positive note on Monday. NSE’s Nifty may reclaim the crucial 15,000-mark on opening, as suggested by the trends on SGX Nifty. Nifty futures were trading 138.50 points or 0.93 per cent higher at 15,092 on Singaporean Exchange. Market participants will closely watch trends in long-term bond yield, crude oil prices and macroeconomic data this week. On Monday, Brent crude futures jumped 2.6 per cent to $71.17 a barrel for the first time since the COVID-19 pandemic began, following reports of attacks on Saudi Arabian oil facilities.
Easy Trip Planners IPO: Easy Trip Planners’ Rs 510-crore initial public offering (IPO) will open for subscription on Monday, March 8, 2021. The publis issue will entirely be an Offer For Sale (OFS) by existing shareholders. The issue will remain open for subscription till March 10.
Cipla: Drug major Cipla on Saturday said it has voluntarily liquidated a wholly-owned step-down subsidiary. “This liquidation was a part of internal reorganisation and it will not affect performance or revenue of the company,” Cipla said in a BSE filing.
NMDC: NMDC has left the price of lump ore unchanged at Rs 5,100 per tonne and Rs 4,210 per tonne for fines in its latest price revision announced on Saturday. Iron ore is the key raw material used in steel making. Any change in its prices has a direct impact on the rates of steel.
India Oil, Oil India, HPCL: Oil prices surged higher on Monday morning following Iran-backed Houthi rebels unleashed a coordinated attack on Saudi Arabia oil facilities and military bases. Brent crude oil prices jumped over 2 per cent to trade above $70 a barrel. The price of Brent Crude and WTI increased sharply by 11.6% and 13.4% sequentially in February, and by 11.3% and 17.4%, respectively, on a y-o-y basis.
PVR: PVR plans to invest Rs 150 crore to open up to 40 screens across the country in the next fiscal. The company’s target of having 1,000 operational screens has been pushed by a year due to the outbreak of the COVID-19 pandemic to the end of fiscal 2022-23, PTI quoted a top company official as sayg.
Reliance Home Finance: Reliance Home Finance Ltd (RHFL) on Saturday said it has defaulted on loan of over Rs 40 crore from Punjab & Sind Bank even as the company has enough cash and cash equivalent which it cannot use due to a court order. As per PTI report, Reliance Capital’s subsidiary defaulted on loan on February 15, 2021, and the current amount of default is Rs 40 crore alongside an interest of Rs 15 lakh.