Asian stocks extended a global equity rally after an emergency U.S. spending bill to combat the impact of the coronavirus added to signs of support from policy makers around the world.
Equities in Japan and Australia opened more than 1 percent higher, with regional shares set for a fourth day of gains. U.S. futures dipped.
U.S. stocks surged to the second 4 percent rally in three days after Congress authorised nearly $8 billion for virus prevention and investors warmed to Joe Biden’s ascendant candidacy.
SBI Cards and Payment Services IPO subscribed 15.5 times. Retail investors subscribed 1.77 times. Institutional investors subscribed 56.66 times.
Antony Waste Handling IPO gets 9 percent demand on the first day of sale.
🎯 News & Impact 🎯
🎯 Allcargo Logistics :
Company received SEBI approval for its open offer to acquire 26 % stake in Gati.
🎯 HDFC :
Company reduced its retail prime lending rate on housing loans by 5 basis points, which will under effect from March 9.
🎯 Max Financial Services :
Company’s Board approved Mitsui Sumitomo to acquire 21.87 percent stake in the company through a share swap.
Positive for the stock. 👍
🎯 Maruti Suzuki :
Company said that it has partnered with HDB Financial Services to provide car loans.
🎯 L&T :
Construction and engineering major Larsen & Toubro (L&T) is set to reduce its debt by Rs 30,000 crore in the next financial year by selling its entire stake in L&T Infrastructure Development Projects (IDPL) and Nabha Power, and transferring its stake in Hyderabad Metro to an infrastructure investment trust (InvIT).
Positive for the stock. 👍
🎯 Reliance Industries :
Company acquires 100 % stake in Shri Kannan Departmental Store Pvt. Ltd. for a consideration of Rs 152.5 crore. SKDS currently operates 29 stores across Coimbatore and nearby areas with a retail area of over 6 lakh sq. ft.
🎯 GAIL India, Oil India :
The government has detached public sector undertakings from a Supreme Court order that sought Rs 1.47 lakh crore from telecom companies as adjusted gross revenue dues, according to Minister of State for Communications Sanjay Dhotre's reply in Parliament.
🎯 Varroc Engineering :
Company's Netherlands subsidiary Aries Mentor Holding B.V. merged with subsidiary company VarrocCorp Holding B.V.
🎯 Commercial Engineers :
Company has successfully completed the first rake comprising of 58 wagons of the order received from Ministry of Railways, to supply 500 wagons.
🎯 Electrosteel Castings :
Company promoter G.K. Sons sold 3.5 lakh shares on March 2.
Negative for the stock.
🎯 Filatex India :
Company promoter Gunjan Bhageria acquired 1.25 lakh shares on March 3.
Positive for the stock. 👍
🎯 Greenply Industries :
Company promoter group S.M. Management acquired 1 lakh shares from March 3-4.
Positive for the stock. 👍
🎯 Axis Bank :
Company promoter United India Insurance acquired 55,000 shares from March 2-3.
🎯 GMR Infrastructure :
Promoter group acquired 38 lakh shares via open market on March 2.
Positive for the stock. 👍
🎯 LT Foods :
Company promoter Raghuvesh Holdings acquired 94,000 shares on March 3.
Positive for the stock. 👍
🎯 Persistent Systems :
Company promoter Rama-Purushottam Foundation sold 1.82 lakh shares from Feb. 17-18.
Negative for the stock.
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Edited by Sharp.
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