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Stock market live: Sensex near daily low, Nifty below 14,700 dragged by banks and auto stocks

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KNR constructions | The company received a letter of acceptance for four lanes from the Bangalore Mangalore section on the basis of the EPC in Karnataka state, valued at Rs 1,101 crore. Said project must be completed within 24 months from the date set.

RailTel Corporation of India | The company received a work order in the amount of Rs 153.15 crore (including GST) from M / s Central Coalfields Limited, for the establishment of a higher bandwidth MPLS-VPN network on a rental base for 5 years.

Glenmark Pharmaceuticals | The subsidiary of Glenmark Specialty SA in Switzerland and a subsidiary of Bausch Health Companies Inc. have entered into an exclusive license agreement for the commercialization of the innovative RYALTRIS nasal spray from Glenmark under review by Health Canada. for regulatory approvals and the supply of RYALTRIS for the Canadian market. Bausch Health, Canada will be responsible for commercializing RYALTRIS in the Canadian market, following regulatory approval, the company said.

Larsen & Toubro, a major beneficiary of a capex takeover, says Anand Rathi; raise the target

We are optimistic that L&T as one of the major beneficiaries of infrastructure development for 90% of the addressable opportunity in the 102 trillion rupees planned government investment in fiscal years 20-25 under the Lighthouse PIN. We expect a resumption of investments in hydrocarbons in the Middle East due to the rise in crude oil prices. Management is firm on restructuring non-core assets such as the Hyderabad metro-rail, power projects and road assets, which have impacted rates of return. We expect NWC to stabilize which will translate into better cash flow, brokerage firm Anand Rathi said.

The brokerage held up a call to buy on the stock and raised the target price to Rs 1,763 per share from Rs 1,616 earlier.

Thermax | Thermax Babcock & Wilcox Energy Solutions Pvt Ltd (TBWES), a 100% subsidiary of Thermax, has signed a know-how transfer and license agreement with Steinmtiller Babcock Environment GmbH (SBE), Germany for Waste to Energy technology.

Government unlikely to extend EoI schedule for BEML

The government is unlikely to extend the Expression of Interest (EoI) calendar for Bharat Earth Movers Limited (BEML), sources told CNBC-TV18. The government has received expressions of interest in BEML, the sources said. Note that today is the last day for EoI BEMLs. Previously, the government invited EoIs from domestic and foreign players for the strategic sale of 26% of the stake in BEML, out of the 54.03% stake it holds in the company. BEML is a Category 1 “Miniratna” central public sector enterprise under the control of the Ministry of Defense. The government holds a 54.03% stake.

Market Watch: Ashish Kyal, Waves Strategy

Grasim Industries has been in a very strong uptrend for several months now. From April we have seen a multiplication of increases. Even now the stock is hitting the new high. So I think there is a possibility of momentum being generated here. We can go long on Grasim at the current market price by keeping a stop loss of Rs 1,372 for a target of Rs 1,500.

Nilkamal Ltd has formed very strong support near the 20 day average. He found support near the Ichimoku Tenkan-Sen line and he’s bouncing back from there. A very good dynamic that we can see today. So, Nilkamal can be a buy by keeping a stop loss of Rs 1,985 for a target of Rs 2,170.

Piramal companies | Piramal Capital & Housing Finance Limited (PCHFL), a wholly owned subsidiary of Piramal Enterprises, has raised Rs 4,050 crore through the issuance of five-year long-term non-convertible debentures (NCDs) in two tranches. The first tranche of the NCD issue in the amount of Rs 2,000 crore was opened on March 10, 2021, with a payment on March 12, 2021. The second tranche of the remaining Rs 2,050 crore opened on March 18, 2021 with a deposit. March 19, 2021.

Buzzing | Majesco’s shares were locked in a 5% upper circuit after Aurum Platz IT Pvt Ltd made an open offer to acquire 74.43,720 fully paid participating shares, representing 26% of the stake, from Majesco to public shareholders. The offer price is Rs 77 per share. Assuming full acceptance of the open offer, the total consideration payable by Aurum Platz will be Rs 57.31 crore, the company said.

Buzzing | Adani Green Energy shares reach 5% of upper circuit after winning 300 MW wind project

Shares of Adani Green Energy were stuck in the top 5% circuit on Monday after the company’s subsidiary received a letter of award (LOA) for a 300 MW wind project. The share price was at a 52 week high of Rs 1,251.05 each on BSE.

In a regulatory dossier, Adani Green Energy said that its subsidiary Adani Renewable Energy Holding Fifteen Ltd (AREHFL) had participated in the call for tenders launched by Solar Energy Corporation of India (SECI) for the implementation of a project 1200 MW wind farm connected to ISTS (Tranche-X) and received the letter of award (LOA) for the implementation of a 300 MW wind farm project as part of this call for tenders. Read more.

Human industries | The company has received new orders in the domestic and export markets in the oil and gas segments as well as in the water segments valued at around Rs 500 crore.

Sameet Chavan, Chief Analyst – Technical and Derivatives, Angel Broking

Since the market was a bit oversold, some kind of rebound was evident; but the kind of V-shaped pickup we saw was clearly unexpected for us. Therefore, while our recent cautious stance has gone well, we need to see how the market performs in the first half of this week. On the upper side, 14,875 – 15,050 are the levels to watch; while on the lower side, 14,450 – 14,350 becomes a key support area. The major corrective move is only possible below 14,330, by then expect the index to stay in a wide range.

Traders are advised to be equity specific for a while and until Nifty does not break above 15,050 we will likely see pressure at higher levels. Therefore, one should stay light and trade with proper risk management as the monthly expiration week approaches.

JSW Energy receives order from Solar Energy Corporation of India

JSW Future Energy Limited Ltd (formerly known as JSW Solar Limited), a 100% subsidiary of JSW Energy Ltd, has received award letters for a total wind capacity of 450 MW from Solar Energy Corporation of India Limited ( SECI) against based tariff Call for tenders launched by SECI for the implementation of 1200 MW wind projects connected to ISTS (Tranche – X)

Adani Green Energy receives LOA for 300 MW wind project

Adani Renewable Energy Holding Fifteen Ltd (AREHFL), a subsidiary of Adani Green Energy (AGEL) had participated in the call for tenders launched by Solar Energy Corporation of India (SECI) for the implementation of a wind power project of 1,200 MW connected to ISTS (Tranche-X) and received the letter of award (LOA) to set up a 300 MW wind project as part of this call for tenders. The fixed price for this project capacity is Rs 2.77 / kWh for a period of 25 years. Thus, AGEL’s total renewable capacity now stands at 15,165 MW, of which 3,395 MW of renewable power plants are operational and 11,770 MW of projects are under construction.

Time to Consider Allowing Sensex, Nifty Trading on All Exchanges, Says RBI

In the context of a nearly four-hour outage on the National Stock Exchange last month, an RBI article on Friday suggested allowing trading of the Nifty and Sensex benchmarks on all exchanges. “Allowing the Nifty and Sensex benchmarks to trade on all exchanges, extending interoperability to include the use of another exchange’s trading infrastructure and allowing entry of more exchanges to increase competition may need to be considered, in addition to focusing on strengthening risk management frameworks during exchanges, ”he noted. Read more.

Entries to further strengthen the rupee, a key inflation risk

Sustained foreign flows along with a series of upcoming IPOs are expected to strengthen the Indian rupee over the coming week. As a result, these factors are expected to push the rupee past its current high of 52 weeks. This could lead RBI to absorb dollars to keep the rupee under control.

“The rupee has shown no signs of weakness. Large inflows on the backs of many IPOs in March helped the local currency. The rupee has now become the best performing currency in the past month. yields and inflation remain the next week’s range is expected to be 72.40 to 72.80, ”Sajal Gupta, head of Forex and rates at Edelweiss Securities, told IANS. Read more.

Manoj Murlidharan, VP-Derivatives, Religare Broking | Buy ICICI Bank at Rs 583-585 with a stop loss at Rs 578 and we expect around Rs 590-602 as our target.

Market opening | India’s benchmark stock indexes Sensex and Nifty opened on a flat note on Monday after mixed global indices. At 9:15 a.m., the Sensex opened 0.04%, or 20.53 points, higher at 49,878.77, while the Nifty50 index opened at 14,736.30, down 7.70 points, or 0.05%. Selling was seen in banks, metals, financials and autos, while the FMCG and pharmaceutical indices rose. The larger indices traded flat.

Zomato plans to file IPO next month, aims to raise $ 650 million

Zomato plans to file a draft red herring prospectus (DRHP) for an initial public offering (IPO) in April. The food delivery startup plans to raise around $ 650 million from the IPO, according to a report. Zomato, backed by Jack Ma’s Ant Group, could complete listing in Mumbai before the end of September 2021. The report also said that a Zomato representative did not respond to requests for comment. However, according to the report, talks are ongoing and details such as the size and timing of the IPO could change. Read here.



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