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With no significant improvement in the tensions between Russia & Ukraine and uncertainty in Gulf region, crude prices surged leading to a sell-off in the domestic market after the recent rally. FII’s coming back to buying mode is a positive for domestic equities but rise in bulk diesel prices & inflationary pressure is bending the domestic market. Accenture’s positive earnings and strong guidance have helped Indian IT companies to be in demand, however, late selloff was witnessed.
– Vinod Nair, Head of Research at Geojit Financial Services
These stocks declined the most in trade today
Price as on 21 Mar, 2022 03:42 PM, Click on company names for their live prices.
Top 5 gainers in today’s trade
Price as on 21 Mar, 2022 03:41 PM, Click on company names for their live prices.
Sector Watch: Metal top performer
Advance-decline ratio favours sellers
Sensex Heatmap: Only 4 stocks close in the green
CLOSING BELL: TCS, bank stocks drag Sensex 571 pts lower; Nifty50 below 17,150; Paytm tanks 5%; Oil India jumps 7%
JUST IN: Shankara Building promoter sells 10 lakh shares to APL Apollo Tubes’ arm
Price as on 21 Mar, 2022 03:11 PM, Click on company names for their live prices.
European shares edge higher on boost from oil stocks
- European shares inched higher on Monday, helped by gains in energy stocks as oil prices resumed their surge, while continued fighting in Ukraine kept broader risk sentiment in check.
- The pan-European STOXX 600 rose 0.1% after closing with its biggest weekly percentage gain since November 2020 on Friday.
- Markets are closely tracking the war in Ukraine, with European Union governments mulling an oil embargo on Russia as they gather this week with U.S. President Joe Biden for a series of summits aimed at hardening their stance against Moscow.
STOCK IN NEWS: Shankara Buildcon & APL Apollo
#ETNOWNewsbreakConfirmed | Shankara Buildcon: Promoter to sell 4.38% to APL Apollo Tubes subsidiary at Rs 755/share… https://t.co/RsezdElrLB
— ET NOW (@ETNOWlive) 1647853978000
Lunolox seeks to buy up to 26% of Eureka Forbes
Price as on 21 Mar, 2022 02:38 PM, Click on company names for their live prices.
These stocks defy market mood, rise up to 11%
Price as on 21 Mar, 2022 02:11 PM, Click on company names for their live prices.
JUST IN: BRENT CRUDE RISES MORE THAN $4 TO $112/BBL
India VIX surges nearly 8%
Ratnami Metals & Tubes receives domestic line pipe order for Rs 591 crore from the oil & gas sector
Price as on 21 Mar, 2022 12:59 PM, Click on company names for their live prices.
AGEL raises $288 million for RE projects
- Adani Green Energy has raised USD 288 million (about Rs 2,188 crore ) for the construction of its renewable energy projects.
- “Adani Green Energy Ltd (AGEL) has extended its Construction Financing Framework to USD 1.64 billion by raising a USD 288 million facility for its under-construction renewable asset portfolio through definitive agreements signed with a group of leading international lenders,” a company statement said.
- The facility will initially finance the 450 MW hybrid portfolio of solar and wind renewable projects that AGEL is setting up in Rajasthan. In March 2021, AGEL had closed a USD 1.35 billion construction revolver facility in one of Asia’s largest project financing deals, it added.
NIFTY BREAKS BELOW 17,150 IN INTRA-DAY DEALS
Top 10 losers on NSE in early afternoon session
Price as on 21 Mar, 2022 12:51 PM, Click on company names for their live prices.
Sensex at day’s low
India considers widening COVID booster effort to all adults: Reuters
- India is considering making all adults eligible for booster doses of COVID-19 vaccine, two sources with knowledge of the matter said on Monday, as infections grow in some countries and some Indians find it hard to travel abroad without a third dose.
- Only frontline workers and those older than 60 are now allowed to take booster doses in India, whether free in government centres or paid for in private hospitals.
- The government is debating whether to provide boosters to other groups for free, said one of the sources, who both sought anonymity as the government has yet to make a decision.
ALERT: PCBL approves stock split
Board of Directors of the Company has fixed Tuesday, 12th April, 2022 as the Record Date for determining the eligibility of shareholders, with regard to the sub-division of 1(one) equity share of face value of Rs. 2/- per share fully paid up to 2 (two) equity shares of face value of Re. 1/ per share fully paid.
BSE SMALLCAP INDEX UP NEARLY 1%
Wockhardt unit partners with SII subsidiary to set up vaccine manufacturing plant in UK
Price as on 21 Mar, 2022 11:56 AM, Click on company names for their live prices.
- Goldman Sachs expects the Federal Reserve to raise interest rates five times in 2023, and forecasts that the U.S. central bank is keen to raise its funds rate above the current neutral estimate.
- The Fed hiked rates for the first time since 2018 last week and laid out an aggressive plan to push borrowing costs to restrictive levels next year, in a pivot from battling COVID-19 to countering the economic risks from excessive inflation and the war in Ukraine.
- GS economist Jan Hatzius expects the FOMC to hike at every meeting through Q1 of 2023 and slow to a quarterly pace in Q2 of 2023, on stronger growth outlook and signals that Fed officials are keen to raise the funds rate above their neutral estimate.
Fletcher Building partners with TCS and Google Cloud to drive growth through data and digital innovation
Price as on 21 Mar, 2022 11:26 AM, Click on company names for their live prices.
Themis Medicare announced the approval of its antiviral drug VIRALEX by the Drug Controller General of India (DCGI). As per the results of a double-blind randomized controlled trials (RCT), the drug helps in early relief of the clinical symptoms in mild to moderate COVID-19 patients.
Price as on 21 Mar, 2022 11:15 AM, Click on company names for their live prices.
This FPO dilution will aid Baba Ramdev’s Patanjali Ayurveda, which owns Ruchi Soya, in adhering to the minimum shareholding rules. At present, Patanjali Group owns about 98.9 percent stake in Ruchi Soya. Public shareholders own about 1.1 per cent stake. Post the FPO, Patanjali Group’s holding in Ruchi Soya will come down to about 81 per cent and the public would hold about 19 per cent.
Accenture’s another strong revenue beat and upward revision in revenue growth guidance for FY22 (~USD2bn increase) indicate a robust demand environment. Broad-based healthy demand, strong revenue growth (20% YoY in H1) and healthy order booking in outsourcing (12.5% YoY in H1 on the back of 21% in FY21) augur well for Indian IT peers. It is facing some margin pressure due to wage inflation and elevated attrition amid tight labor markets, however, a conducive environment for price increases will support the margins. We believe that a strong demand environment, sustained acceleration in revenue growth, margin support from weaker rupee and robust order booking will support higher valuations.
– Emkay Global
Sintex Industries lenders approve joint resolution plan of Reliance Industries, ACRE; stock at 5% lower circuit limit
Sources says meet on Match 28 or 29 to decide Apr-Sept borrowing plan
Homegrown pharma major Glenmark Pharmaceuticals Ltd on Monday said it has received final approval from the US health regulator for its generic Lacosamide tablet, indicated for prevention and control of seizures.
Price as on 21 Mar, 2022 10:40 AM, Click on company names for their live prices.
US FUTURES DECLINE; DOW FUTURES DOWN 140 POINTS
Godrej Properties sells homes worth Rs 1,002 cr so far this fiscal in Pune township
Price as on 21 Mar, 2022 10:20 AM, Click on company names for their live prices.
Sensex Today LIVE: Top losers from the FMCG pack
Price as on 21 Mar, 2022 10:13 AM, Click on company names for their live prices.
Tweet of the day
With all listed new age companies doing poorly in the market, it will be fun to see how PE funds mark down their in… https://t.co/ChbqY0bYkz
— Samir Arora (@Iamsamirarora) 1647755793000
Asian Granito India (AGL) lines up mega expansion plan to set up multiple state-of-the art manufacturing units in luxury surfaces & bathware segments
Price as on 21 Mar, 2022 09:44 AM, Click on company names for their live prices.
IT stocks trade firm following strong Accenture earnings
Sensex Today LIVE: Nifty after the 15% correction from the peak has climbed back by 10%. This resilience of the market even in the midst of uncertainties and challenges is significant from the investors’ perspective. For the short-term the biggest positive for the market is the FPIs turning buyers. Crude again back at $110 is a headwind. In 2022 the market will have to grapple with the tightening monetary cycle in the US. The RBI too will have to raise rates this year to combat rising inflation. This will be marginally negative for rate sensitive sectors and stocks. Accenture’s market beating results and excellent guidance augur well for IT stocks.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
After strong weekly gains, major crypto tokens fell on Monday, withstanding the US central bank’s first interest rate hike in four years and Russia’s escalating attacks on Ukraine. Barring Terra, all top digital tokens were trading lower on Monday. Avalanche and Shiba Inu tumbled 5 per cent each, followed by a 4 per cent fall in Solana. Bitcoin, Ethereum and Dogecoin shed 3 per cent each.
Most active stocks on NSE in opening trade
Price as on 21 Mar, 2022 09:21 AM, Click on company…