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Share Market Closing Note

28. March 2022 sandeep Stock Market Research (0)

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Topic :- Share Market Closing Note

Indian benchmark indices ended at days high levels in the highly volatile session on March supported by the auto, bank, oil & gas and metal stocks.

At close, the Sensex was up 231.29 points or 0.40% at 57,593.49, and the Nifty was up 69 points or 0.40% at 17222. About 1051 shares have advanced, 2268 shares declined, and 123 shares are unchanged.

Bharti Airtel, Coal India, Axis Bank, Eicher Motors and ICICI Bank were among the top Nifty gainers.

On the other hand, UPL, SBI Life Insurance, Nestle India, Dr Reddys Laboratories, HDFC were among the big losers.

Among sectors, bank and oil & gas indices gained a percent each, and auto and metal indices added 0.5 percent each. However, selling was seen in the capital goods, IT and pharma names.

The broader indices underperformed the benchmarks. BSE midcap and smallcap indices ended in the red.

Aster DM Healthcare share price rose 10 percent after the company signed a memorandum of understanding (MoU) with Tamil Nadu to set up healthcare facilities.

Share prices of multiplex players PVR and Inox Leisure touched their 52-week highs, a day after the announcement of their merger deal to create a cinema giant with more than 1,500 screens.

Share price of Bharti Airtel rose 3 percent as the company is going to acquire 4.7 percent equity in Indus Towers from an affiliate of Vodafone Group Plc at Rs 187.88 per share with the transaction totalling Rs 2,388.06 crore.

GAIL India share price gained 3 percent as the meeting of the board of directors of the company is scheduled on March 31 to consider and approve buy back of the fully paid-up equity shares of the company.

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Topic :- Time:3.20 PM

Just In:

Yatra Online files for ₹750 crore IPO:

Yatra also announced the appointments of Rohit Bhasin, Deepa Misra Harris and former bureaucrat Ajay Narayan Jha as non-executive independent directors.

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Topic :- Time:3.00 PM

Nifty spot if holds above 17180 on closing basis then expect some quick upmove in coming sessions and if it closes below above mentioned level then some sluggish movement can follow in the market. Avoid open positions for tomorrow.

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Topic :- Time:2.50 PM

Just In:

Uma Exports IPO fully subscribed on first day as retail investors drive up bids.

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Topic :- Time:2.30 PM

SILVER Trading View:

SILVER is trading at 68080.If it breaks and trade below 68040 level then expect some decline in it and if it manages to trade and sustain above 68140 level then some upmove can follow in it.

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Topic :- Time:2.30 PM

SILVER Trading View:

SILVER is trading at 68080.If it breaks and trade below 68040 level then expect some decline in it and if it manages to trade and sustain above 68140 level then some upmove can follow in it.

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Topic :- Time:2.10 PM

Just In:

SC agrees to hear SEBIs challenge to order quashing Rs 6-crore fine on NSE.

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Topic :- Time:2.00 PM

Nifty spot if manages to trade and sustain above 17180 level then expect some upmove and if it breaks and trade below 17160 level then some decline can follow in the market.

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Topic :- Time:1.10 PM

Just In:

Adani Total forays into electric mobility infrastructure.

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Topic :- Time:1.00 PM

Reliance is firing and is taking nifty up along. Nifty spot if manages to trade and sustain above 17200 level then expect some further upmove in the market and if it breaks and trade below 17160 level then some decline can be seen in the market. Currently nifty is trading at 17186.

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Topic :- Time:12.45 PM

Just In:

Ruchi Soya FPO Final Day | Issue subscribed 1.53 times, QIB portion booked 92%, retail quota lapped up 59%.

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Topic :- Time:12.30 PM

NATURALGAS Trading View:

NG April is trading at 429.60.If it breaks and trade below 428.80 level then expect some decline in it and if it manages to trade and sustain above 430.40 level then some upmove can follow in it.

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Topic :- Time:12.05 PM

Just In:

Russia, Ukraine set for face-to-face talks:

Ukraine latest updates: Russia-Ukraine talks are likely to take place in Turkey and may start today or tomorrow

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Topic :- Time:12.00 PM

After positive opening nifty is trading in red zone and is trading flat. Nifty spot if breaks and trade below 17000 level then expect some decline in it and if it manages to trade and sustain above 17060 level then some upmove can follow in the market.

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex, Nifty open flat; Banks slip, Inox Leisure soars 13%

2. Nationwide trade unions strike affects work at state-owned banks

3. Post record Rs 1.1 trn FY22 IPO fundraise, next fiscal may set new record

4. ED wants central bank to block NBFCs on a Chinese string

5. Crypto industry sees exits ahead of Indias new tax regime

6. Petrol price hiked 30 paise, diesel up 35 paise; sixth increase in 7 days

7. PVR-Inox merger: We want to roll out 200 screens a year, says Bijli & Jain

8. Merger boost: Inox Leisure zooms 20%, hits record high; PVR jumps 10%

9. Emami acquires Dermicool brand for Rs 432 crore; stock hits 52-week low

10. Escorts slips 8% in two days ahead of closure of open offer by Kubota

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Topic :- Stocks under F&O ban on NSE

1. Indiabulls Housing Finance

2. Vodafone Idea

3. L&T Finance Holdings

4. SAIL

5. Sun TV Network

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Topic :- Stocks in News

GAIL (India): The state-owned natural gas distribution company on March 31 will consider the proposal of buy back of the fully paid-up equity shares.

Fino Payments Bank: The Reserve Bank of India has granted approval for referring customers of Fino Payments Bank to Finwizard Technology (FISDOM) for mutual fund distribution, and 5paisa Capital for demat & trading services under referral arrangement.

Adani Enterprises: Subsidiaries Mahanadi Mines and Minerals Private Limited, and MP Natural Resources Private Limited are declared as successful bidders for coal blocks - Bijahan and Gondbahera Ujheni East coal block in Odisha and Madhya Pradesh respectively, by Government of India. The revenue sharing with government will be 14 percent for Bijahan coal block and 5 percent for Gondbahera Ujheni East coal block.

Bharti Airtel: The telecom operator will acquire around 4.7 percent stake in Indus Towers from Euro Pacific Securities, an affiliate of Vodafone Group Plc, at a price of Rs 187.88 per share. The total transaction cost stands at Rs 2,388.06 crore.

G R Infraprojects: The company has emerged as L-1 bidder for road project comprising upgradation to four lane with paved shoulder of NH-341 from Bhimasar to Anjar - Bhuj in Gujarat on Hybrid Annuity Mode. The bid cost of the project is Rs 1,085 crore and the said project is going to be completed within 730 days from appointed date.

Emami: The company has acquired Dermicool, one of the leading brands in prickly heat powder and cool talc category, from Reckitt Benckiser Healthcare (India). The acquisition cost stood at Rs 432 crore which is funded through internal accruals.

Sagar Cements: The board has approved the issuance of 1,32,07,548 equity shares to PI Opportunities Fund, an affiliate of Premji Invest, an investment arm of Azim Premjis endowment and philanthropic initiatives, at an issue price of Rs 265 per share. This transaction will fetch the company Rs 350 crore which will be largely utilised towards meeting the organic and inorganic expansion plans of the company along with funding its general corporate purposes.

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Topic :- Nifty Opening Note

Indian Stock Market Trading View For 28 March,2022:

Whole week is likely to remain volatile. Sentiments will be guiding force.

Nifty spot if manages to trade and sustain above 17260 level then expect some upmove in the market and if it breaks and trade below 17140 level then some decline can follow 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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Airlines and 5-star hotels count gains as Indians holiday lavishly

28. March 2022 sandeep Stock Market Research (0)

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Indians are holidaying lavishly now, spending more on five-star hotels and booking business-class seats as the country emerges from the coronavirus pandemic that restricted travel for two years

Indians are holidaying lavishly now, spending more on five-star hotels and booking business-class seats as the country emerges from the coronavirus pandemic that restricted travel for two years, according to the South Asian nation’s second-biggest online travel agency.

“People are living their lives and splurging on travel,” Prashant Pitti, a co-founder of EaseMyTrip, said in an interview with Bloomberg Television on Monday. “It’s a shift which is happening for good, for long-term.”

More and more Indians are taking to the skies as travel curbs ease and the country opens up international travel, with pent-demand driving travel needs for millions stuck at home. India, the world’s fastest-growing major aviation market before the pandemic, expects local traffic to exceed pre-pandemic levels of 415,000 daily fliers within a year. Indian airlines are also adding capacity to capture the revival in demand as international flights resumed from Sunday.

Bookings for business class seats on flights and five-star hotels have already doubled compared to pre-pandemic numbers as a percentage of total reservations, Pitti said. Indians are now planning holidays of 4.7 days on average, compared with 3.2 days before Covid, he said. Operated by Easy Trip Planners Ltd., EaseMyTrip offers online bookings for flights, trains, hotels, buses and cabs.

EaseMyTrip, which sold shares to the public last year, will continue to grow profitably, Pitti said. The company’s net income likely surpassed 9 billion rupees ($118 million) for the year ending March 31, jumping from 6.1 billion rupees ($80 million) previous year, he said.

While airfares have jumped “quite dramatically” in the last few weeks as carriers tried to offset a rise in oil prices, the increase will be short-lived, said Pitti.

“India is looking great, in lines to recover very rapidly from the onslaught which we all have been through in the last two years,” he said. “The pent-up demand won’t shorten for next couple of years.”

Also Read:-Banks never got back money from defaulters under UPA govt: Nirmala Sitharaman

Banks never got back money from defaulters under UPA govt: Nirmala Sitharaman

28. March 2022 sandeep Stock Market Research (0)

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Nirmala Sitharaman also said in the Lok Sabha that actions have been taken, including registration of FIRs, against those who have cheated small savings depositors through various fraudulent activities.

Union Finance Minister Nirmala Sitharaman on Monday attacked the previous UPA regime for its alleged failure to recover money from those who turned their loan accounts into non performing assets, and said under the Modi government, banks for the first time got back money from defaulters.

Sitharaman also said in the Lok Sabha that actions have been taken, including registration of FIRs, against those who have cheated small savings depositors through various fraudulent activities.

She said the Reserve Bank of India is also monitoring activities of App based financial companies.

Responding to questions by DMK’s T R Baalu about the government’s action against loan defaulters and NPAs, the minister said “writing off” loans does not mean “complete waive off” and the banks are following every loan to recover the outstanding amount.

“Over Rs 10,000 crore, I am saying ‘over’ as I don’t want to disclose the actual figure, have been recovered by PSU banks from loan defaulters after taking over their assets.

“For the first time in the country, under the Modi government, the banks got back money from many NPAs. While during the UPA government, no money was recovered from the NPAs,” she said.

Sitharaman’s remarks invited sharp reaction and protests from Congress leader in Lok Sabha Adhir Ranjan Chowdhury.

The finance minister said the opposition party must listen to the “bitter truth” and alleged that the loans were given during the previous UPA regime due to political considerations.

Earlier, the minister said the Financial Resolution and Deposit Insurance Bill, 2017 (FRDI Bill) was introduced in the Lok Sabha in August, 2017 and thereafter was referred to the Joint Committee of Parliament for examination and report thereon. The main objective of the FRDI Bill was to create a specialised resolution mechanism for select financial sector entities.

The government had withdrawn the FRDI Bill in August, 2018 for further comprehensive examination and reconsideration of the subject.

The government has not taken a decision to bring a new law to provide for a legal framework for resolution of financial firms, she said.

Sitharaman said with a view to provide a greater measure of protection to depositors in banks, the Deposit Insurance and Credit Guarantee Corporation (DICGC) has raised the limit of insurance cover for depositors in insured banks from the level of Rs 1 lakh to Rs 5 lakh per depositor with effect from February 4, 2020 with the approval of the central government.

Also Read:Travel insurance to gain prominence in post-COVID world

The minister said the government has already notified the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 on November 15, 2019 to provide a generic framework for insolvency and liquidation proceedings of systemically important Financial Service Providers (FSPs) other than banks.

Subsequently, she said, the government has also notified on November 18, 2019, that the insolvency resolution and liquidation proceedings of the Non-Banking Finance Companies (including housing finance companies) with asset size of Rs 500 crore or more shall be undertaken in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC, 2016).

Accordingly, the framework to deal with the select Non-Banking Finance Companies is already in place under IBC, 2016, she said.

Travel insurance to gain prominence in post-COVID world

28. March 2022 sandeep Stock Market Research (0)

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Post resumption of regular international flights, travel insurance policies will continue to cover COVID-19 hospitalisation, but some may not pay for quarantine at hotels