Indian markets witnessed a bearish tone last week with Sensex and Nifty 50 holding near 57,360 and 17,150-mark. The selloff was due to raging inflation, monetary policy tightening, higher commodity prices, and concerns of Russia’s Ukraine invasion. Going forward, domestic equities sentiments will be influenced by the developments in global markets this week (March 28 to April 01). The week will also mark the end of the last quarter of financial year FY22, while the first quarter of fiscal 2022-23 will commence.
On Friday last week, Sensex finished at 57,362.20 down by 233.48 points or 0.41%. Nifty 50 closed at 17,153 lower by 69.75 points or 0.40%. From March 21 – 25, the 30 scrip index has slumped over 0.5%, while the 50-scrip index took a massive beating and pulled back by a little over 1%.
This week, markets’ mood will swing as investors will gauge US job and inflation data, Eurozone inflation, crude oil prices, and development in the Russia-Ukraine conflict.
On Monday, here’s a list of stocks that will be in focus on exchanges.
RITES Limited: The company and Mineral Exploration Corporation Limited (MECL) have entered into a memorandum of understanding (MoU) to jointly bid and execute works related to geotechnical investigations for civil engineering infrastructure projects. Under this arrangement, RITES and MECL will collaborate for technical services, including consultancy assignments, knowledge sharing, and research & development activities.
PVR, Inox Leisure: PVR and Inox Leisure have received board of directors approval for stock amalgamation of Inox with PVR. The merger will be carried in a share exchange (“swap”) ratio where 3 equity shares of PVR will be swapped for 10 equity shares of INOX. The amalgamation will bring together two of India’s best cinema brands to deliver an unparalleled consumer experience with a network of more than 1500 screens. Ajay Bijli would be appointed as the Managing Director and Sanjeev Kumar will take charge as the Executive Director.
Aster DM Healthcare: The company has signed a Memorandum of Understanding with The Government of Tamil Nadu, India to set up healthcare facilities in the State. The MoU proposed an investment of ₹500 crores in hospitals, pharmacies, and laboratories in the State.
Titagarh Wagons: The company has achieved a new milestone as the first aluminum metro train manufactured by Titagarh in its newly set up state-of-the-art plant in West Bengal was flagged off.
Bharti Airtel: The company will acquire a 7.036% stake in the Avaada KNShorapura special purpose vehicle formed for the purpose of owning and operating the Captive Power Plant. The cost of the acquisition will be for consideration of Rs1,74,26,500. Airtel will acquire 17,42,650 equity shares having a face value of ₹10 each.
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