Equities began Monday reversing early declines in wild trading amid signs of support from central banks following the recent rout in global stocks. Losses in sovereign bond yields eased.
Japanese stocks reversed losses after the Bank of Japan moved to take efforts to try and stabilize markets. Chinese shares saw the bulk of gains and futures on the S&P 500 futures climbed. The Federal Reserve on Friday said that it’s open to easing policy.
🎯 News & Impact 🎯 Markit India manufacturing PMI data for February to be released. RBI to hold third long-term repo auction.
🎯 New IPO : SBI Cards and Payments Services. Issue Date: March 2-5. Price Band: Rs 750-755. Subscription recommended.
February Auto Sales (YoY)
Maruti Suzuki
- Total sales down 1.1 percent to 1,47,110 units (Estimate: 1,46,045 units)
- Total domestic vehicle sales down 3.6 percent to 1.36,849 units.
- Exports up 7 percent to 10,261 units.
M&M Auto
- Total sales down 42 percent to 32,476 units (estimate: 47,050 units).
- Total domestic sales down 42 percent to 30,637 units.
- Exports down 40 percent to 1,839 units.
Tata Motors
- Total sales down 32 percent to 40,634 units (Estimate: 44,772 units)
- Total domestic sales down 34 percent to 38,002 units.
- Total commercial vehicle sales down 33 percent to 28,086 units.
- Total passenger vehicle sales down 31 to 12,430 units.
Eicher Motors-VECV
- Total sales down 29 percent to 4,586 units.
🎯 Dr. Reddy : Dr Reddy's Laboratories said that the U.S. Food and Drug Administrator Investigator has revised Form 483 with just one observation.
🎯 NTPC : Company said that 800 MW Unit 1 of Darlipalli Super Thermal Power Station Stage-I is declared open for commercial operation.
🎯 Affle India : Company acquired mobile advertising technology company Mediasmart and Calle García de Paredes for a cash consideration of €5.12 million.
🎯 MOIL : Prices of various types of Manganese ores reduced by 5-10 percent.
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