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Indian benchmark indices ended in negative territory on March 17 amid selling seen in across the sectors as investors remain cautious ahead of the U.S. Federal Reserve policy outcome.

At close, the Sensex was down 562.34 points or 1.12% at 49,801.62, and the Nifty was down 189.20 points or 1.27% at 14,721.30. About 818 shares have advanced, 2115 shares declined, and 138 shares are unchanged.

ONGC, BPCL, Tata Motors, Adani Ports and Coal India were among the major losers, while gainers included ITC, TCS, Infosys and HDFC.

All the sectoral indices ended in the red with Nifty PSU Bank index fell 4 percent. BSE Midcap and Smallcap indices shed 2 percent each.

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Topic :- Time:3.00 PM

Nifty spot close above 14800 level will result in some pull back in coming sessions and if it closes below above mentioned level then some sluggish movement is likely to be seen. Avoid open sell positions for tomorrow.

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Topic :- Time:2.30 PM

CRUDEOIL Trading View:

CRUDEOIL is trading at 4696.If it manages to trade and sustain above 4705 level then expect some upmove and if it breaks and trade below 4685 level then some decline can be seen in it.

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Topic :- Time:1.40 PM

Just In:

Stellar IPO listings: 4 IPOs debut with at least 40% premium in 2021 so far

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Topic :- Time:1.30 PM

COPPER Trading View:

COPPER is trading at 672.20.If it manages to trade and sustain above 672.80 level then expect some rise in it and if it breaks and trade below 671.80 level then some decline can follow in it.

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Topic :- Time:1.10 PM

Nifty is rangebound now and is getting ready for another big move. Nifty spot if breaks and trade below 14820 level then expect some further decline in the market and if it manages to trade and sustain above 14860 level then some upmove can be seen in the market.

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Topic :- Time:1.00 PM

Nifty is declining. Nifty spot if breaks and trade below 14820 level then expect some further decline in the market and if it manages to trade and sustain above 14860 level then some upmove can follow in it.

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Topic :- Time:12.30 PM

NATURALGAS Trading View:

NG is trading at 185.10.If it breaks and trade below 184.80 level then expect some decline in it and if it manages to trade and sustain above 185.40 level then some upmove can follow in it.

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Topic :- Time:12.15 PM

Must Subscribe in the public issue of 

Nazara Technologies

Recommendation - Subscribe for listing Gain and Investment 

Issue Opens - 17th Mar, 2021 (Wednesday)

Issue Closes - 19th Mar, 2021 (Friday)

Issue Size - Rs 583 crore at Upper Band

Price Band - Rs 1100-1101

No.of Shares - 5,294,392 Eq Shares of Rs 4 (aggregating up to ₹582.91 Cr)

Minimum Lot Size - 13

Minimum App Amount - Rs 14313/ at Upper End

Promoter

Among promoters, Vikash Mittersain holds 250 equity shares in the company, Nitish Mittersain holds 10,11,453 equity shares and Mitter Infotech LLP holds 59,55,125 equity shares, which total representing 22.88 percent of the pre-offer paid-up equity capital of the company.

Vikash Mittersain is the Chairman and Managing Director of the company. He has been associated as Director of the company since its incorporation. He is also the founder and president of India Business Group (Chamber of Commerce).

Nitish Mittersain is the Joint Managing Director of the company. He founded the company in 1999 and has been associated in the promotion of company for the last 20 years. He is also a trustee of the Dr B K Goyal Heart Foundation and India Business Group (Chamber of Commerce).

Objective of the Issue

As it is fully an offer for sale issue, the company will not get any money and all the money, excluding offer expenses, will go to the shareholders that are selling their stake.

Company Background

Incorporated in 1999, Nazara Technologies Ltd is a leading mobile game company in India. Nazara Technologies is the leading India-based diversified gaming and sports media platform with presence in India and across emerging and developed global markets, such as Africa and North America.

Geographical Reach

The company develops content in India for the Indian as well as global audience, which resulted in an average of 40.17 million monthly active users (MAUs) for FY20 and 57.54 million MAUs across all games for the nine-month period ended December 2020.

Product Range

It offers products across segments - interactive gaming, eSports and gamified early learning ecosystems, including World Cricket Championship (WCC) and CarromClash in mobile games, Kiddopia in gamified early learning, Nodwin and Sportskeeda in eSports and eSports media, and Halaplay and Qunami in skill-based, fantasy and trivia games.

Financials

The company has raised Rs 12.63 crore (in two tranches in 2005 and 2007) and Rs 76.53 crore in 2018. As a result, the company has historically been EBITDA positive and have generated sufficient cash flows from operations. It resulted in a cash and cash equivalents and other bank balances of Rs 184.28 crore as at September 30, 2020.

Nazara reported a 45.9 percent growth in consolidated revenue at Rs 247.51 crore in FY20 with loss at Rs 26.61 crore compared to profit of Rs 6.71 crore in previous year. In FY19, profit increased sharply by 556.2 percent to Rs 6.71 crore, but revenue fell 1.4 percent to Rs 169.7 crore compared to FY18.

For the six months period ended September 2020, the company reported loss at Rs 10.11 crore on revenue of Rs 200.46 crore.

Conclusion

With outlook of growth in gaming segment, Nazara is well poised for next level of growth. We recommend Buy. Small Equity base will do wonders to stock price.

We expect decent listing gains.

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Topic :- Time:12.00 AM

After flat to negative opening nifty is still trading in red zone. Nifty spot if breaks and trade below 14880 level then expect some quick decline in it and if it manages to trade and sustain above 14940 level then some upmove can follow in it. Currently Nifty spot is trading at 14903.

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sharp fall in indices; Sensex dips 100 pts; IT stocks shine

2. Vedanta hits 52-week high after promoter raises open offer price

3. Mutual funds net sellers of Indian equities for the first time in 7 years

4. Sebi streamlines IPO application process, issues new guidelines

5. SBI Card dips 4% after over 40 million shares change hands via block deal

6. GMM Pfaudler gains 8% on acquiring HDO Technologies assets for Rs 58 crore

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The fuel prices are increasing because of the rising price of international crude oil and higher central and state taxes.

Petroleum and diesel costs stayed consistent for the eighteenth sequential day on March 17, 2o21, the nation over after a precarious ascent when the costs were keep going climbed on February 27. 

From that point forward, the cost of petroleum and diesel in New Delhi stayed unaltered at Rs 91.17 per liter and Rs 81.47 per liter, individually, as indicated by the Indian Oil Corporation Limited (IOCL). In Mumbai, the cost of petroleum is Rs 97.57 per liter. The cost of diesel remained at Rs 88.60 per liter. 

The fuel costs are expanding a result of the rising cost of global unrefined petroleum and higher focal and state charges. During the pandemic, the focal government had raised the extract obligation on petroleum to Rs 32.98 a liter from Rs 19.98 a liter. 

A comparative increment was influenced on diesel, where extract obligation was expanded to Rs 31.83 a liter from Rs 15.83 a liter. A few state governments too had expanded the Value Added Tax (VAT) on fuel during a similar period. 

The retail costs of petroleum and diesel had hit the three-figure mark in February in Rajasthan's Sri Ganganagar and Anuppur, Madhya Pradesh. Rajasthan demands the most elevated worth added charge in the nation followed by Madhya Pradesh. 

Money Minister Nirmala Sitharaman and Union Minister for Petroleum, Natural Gas and Steel Minister Dharmendra Pradhan have batted for the incorporation of fuel under the domain of Goods and Services Tax (GST) to carry some help to the everyday person. 

In the mean time, the costs of petroleum and diesel in Chennai remained at Rs 93.11 and Rs 86.45 per liter, individually. The cost of petroleum and diesel in Kolkata was steady at Rs 91.35 per liter and Rs 84.35 per liter.

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Indian Stock Market Trading View For 17 March,2021:

Nifty is likely to remain volatile and is expected to show few more wild moves. Global cues will be trend setter. 

Nifty spot if manages to trade and sustain above 14940 level then expect some upmove and if it breaks and trade below 14880 level then some decline can be seen in the market. Please note this is just opening view and should not be considered as the view for the whole day.

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