10th March, 2021 Morning Brief

Market will open with a gap-up after a volatile session witnessed yesterday.

Asian equities are mixed in mid-week trading. The U.S. Dollar and treasury yields have held overnight losses.

Futures on the Dow Jones are trading with loss of 30 points.

US stocks rallied on Tuesday, with the Nasdaq gaining more than 3.5% to recoup heavy losses from the previous session as US bond yields retreated and investors scooped up battered technology stocks.

The Dow Jones Industrial Average rose 30.3 points, or 0.10%, to 31,832.74, the S&P 500 gained 54.09 points, or 1.42%, to 3,875.44 and the Nasdaq Composite added 464.66 points, or 3.69%, to 13,073.83.

🎯 News & Impact 🎯

🎯 Power Grid Corporation Of India : The company has acquired Ramgarh New Transmission Ltd, the project SPV to establish transmission system strengthening scheme for evacuation of power from solar energy zones in Rajasthan (8.1 GW) from the Bid Process Coordinator - REC Power Distribution Company.

🎯 Confidence Petroleum India : 

The company has decided to set-up CNG-High Pressure Cylinder manufacturing unit near Nagpur with a capacity of 3.60 lakh cylinders per annum of various capacities.

🎯 Infibeam Avenues : 

The company has fixed March 20, 2021 as the record date for issue of bonus shares.

🎯 Jubilant Foodworks : 

The company's wholly owned subsidiary, Jubilant Foodworks Netherlands B.V., has successfully completed the acquisition of 100% of Fides Food Systems Coöperatief U.A., Netherlands which holds 32.81% equity shares in DP Eurasia N.V.

🎯 Godrej Industries : 

Promoter Arel Enterprise LLP bought 1.66 lakh shares between March 3-4.

Positive for the stock. 👍 

🎯 Vardhman Textiles : 

Promoter Devakar Investment And Trading Company bought 5,000 shares on March 8.

Positive for the stock. 👍

🎯 Astra Microwave Products : Promoters (Prasanna Lakshmi and C. Prameelamma) sold 1.20 lakh shares on March 5.

Negative for the stock. 

🎯 Max Financial Services : 

Promoter Max Ventures Investment Holdings revoked pledge of 14.77 lakh shares between March 4-5.

Positive for the stock. 👍 

🎯 Jindal Steel & Power : 

Promoter OPJ Trading revoked pledge of 8.80 lakh shares on March 8.

Positive for the stock. 👍 

🎯 Adani Transmission : 

Promoter Adani Tradeline LLP revoked pledge of 4.29 lakh shares on March 8.

Positive for the stock. 👍