SGX Nifty hinted that the domestic equity indices could see a start in the green. On the Singapore Exchange, Nifty futures were trading higher, up 58 points, at the 17,071 level. On Monday, markets gained mildly as Nifty ended marginally higher, still not reclaiming the 17,000 level, while Sensex settled at 57,653, up over 125 points.
“After a range-bound movement, the market ended mixed with marginal gains in large caps while mid and small caps had losses. Some certainty was seen in domestic banks and large caps due to ease in the US & European market aided by reports on the acquisition of SVB by US lender First Citizens Bank. However, the investors continue to remain cautious as stress in the US and European financial systems makes their central banks actions complex,” said Vinod Nair, Head of Research, Geojit Financial Services.
Stocks in focus on 28 March, Tuesday
HDFC said its board has approved raising funds through non-convertible debentures (NCDs) in tranches aggregating to Rs 57,000 crore.
AMG Media Networks, a subsidiary of Adani Enterprises, completed the acquisition of 49% equity stake in Quintillion Media for a total consideration of Rs 47.84 crore.
The firm was declared the lowest bidder for the construction of a 4-lane highway from Singraur Uphar to Baranpur Kadipur lchauli of NH-73IA. The project is undertaken on a hybrid annuity mode and the bid cost is Rs 819 crore.
Aditya Birla Capital
The company’s board of directors approved the sale of its entire stake in Aditya Birla Insurance Brokers. The other shareholder, Infocyber, will also divest its shares. Aditya Birla Capital will sell 25.6 lakh equity shares, representing 50.002%, while Infocyber will sell the remaining stake to the purchaser, Edme Services, for an enterprise value of Rs 455 crore.
Carysil renewed its contract with Karran for the supply of quartz kitchen sinks for value of Rs 550 crore over the period of 5 years.
The Specified Undertaking of the Unit Trust of India (SUUTI) withdrew the nomination of its nominee director, surrendered its right to appoint one nominee director, and made a request to the Bank to exit SUUTI from “promoter” category and reclassify it to the “public” category.