15th March, 2021 Morning Brief

Market will open on a flat note today after a volatile session yesterday. 

Asian equities have opened mixed at the start of a new trading week as treasury yields continue to remain near their highest in a year.

Futures on the Dow Jones are trading with gains of 110 points. The index closed 0.9% higher on Friday.

The blue-chip Dow powered to its fifth consecutive record high on Friday and the S&P 500 closed slightly higher as investors bought shares that should benefit from a strong reopening of the U.S. economy, an outlook signaled by rising yields in the bond market.

The Dow Jones Industrial Average rose 293.05 points, or 0.9%, to close at 32,778.64 and the S&P 500 gained 4 points, or 0.10%, to 3,943.34. The Nasdaq Composite dropped 78.81 points, or 0.59%, to end at 13,319.87.

CPI inflation surges to 5.03% in February; IIP recedes by 1.6% in January.

India's foreign exchange reserves surpass Russia's, become world’s fourth biggest.

News & Impact

Tata Communications: Government of India to sell 4.6 crore shares of the company or 16.12% of the total equity through an Offer for Sale. Post the OFS, the remaining stake shall be sold to Panatone Finvest, which currently holds 34.8% stake.

Power Finance Corporation: Board has declared interim dividend of Rs 8 per equity share for FY21. The record date for the same is March 22.
Positive for the stock.

RITES: Board has declared interim dividend of Rs 4 per share. The record date for the same is fixed as March 20.
Positive for the stock.

Dabur India: Herbodynamic India has been incorporated as a wholly-owned subsidiary of the company, in India. 

CDSL: Gets approval from IFSCA for formation of proposed subsidiary at GIFT IFSC.

Dilip Buildcon: Gets Provisional Completion Certificate for four/six laning of Karodi-Telwadi road section of NH-211 in Maharashtra. The company is entitled to receive a bonus of Rs 5.08 crore in lieu of the earlier completion of the said project. Positive for the stock.

Action Construction Equipment : Promoter Mona Agarwal sold 35 lakh shares (3.08%) at Rs 164.54 per share. Negative for the stock.

Godfrey Phillips India : Promoter KK Modi Investment And Financial Services bought 7,200 shares on March 12. Positive for the stock.

Nilkamal : Promoters Hiten Parekh, Manish Parekh and Nayan Parekh bought 1,935 shares on March 10. Positive for the stock.

Aditya Birla Fashion and Retail : Promoter IGH Holdings bought 18.15 lakh shares between March 8-9. Positive for the stock.

HealthCare Global Enterprises : Promoter BS Ajaikumar bought 14,054 shares between March 9-10. Positive for the stock.

Adani Enterprises : Promoter Adani Tradeline LLP revoked pledge of 17 lakh shares on March 9. Positive for the stock.

Laurus Labs : Promoters Satyanarayana Chava and Lakshmana Rao CV revoked pledge of 1.88 crore shares between March 9-12. Positive for the stock.