22nd March, 2021 Morning Brief

Market will open on a flat note today.

Most Asian markets have opened the new trading week lower as bond yields continue to remain higher.

Futures on the Dow Jones are trading 75 points lower. The index ended with losses of 0.7% on Friday.

🎯 News & Impact 🎯

🎯 Tata Motors : 

Former Daimler AG manager Marc Llistosella will not be joining the company as its next Managing Director & CEO as previously announced.

🎯 Power Grid Corporation Of India : Has signed a Share Purchase Agreement with Jaiprakash Power Ventures for acquisition of 74% stake of JVPL in Jaypee Power Grid at an aggregate cost of Rs 351 crore. Subsequently JPL will become a wholly owned subsidiary of the company.

🎯 Bharat Dynamics : 

Ministry of Defence has signed a contract with the company for supply of Milan-2T Anti-Tank Guided Missiles to Indian Army at the cost of Rs 1,188 crore.

🎯 Majesco : 

Aurum Platz makes an Open Off

er to public shareholders to acquire up to 74.43 lakh shares or 26% of the total equity.

🎯 Future Group : 

Filed a appeal against a Delhi High Court ruling pertaining to the sale of its assets to Reliance Industries.

🎯 JSW Energy : 

A wholly-owned subsidiary of the company, JSW Future Energy, has received Letters of Award for a total wind capacity of 450 MW from Solar Energy Corporation of India against Tariff based Competitive Bid invited by SECI for setting up of 1,200 MW ISTS-connected Wind Power Projects (Tranche - X).

🎯 Adani Green Energy : 

The company has signed definitive agreements with SkyPower Global for acquisition of 100% stake in a SPV that owns 50 MW operating solar asset at Telangana.

🎯 Yaarii Digital Integrated Services : Has launched a social commerce marketplace, Yaari, which will enable small businesses and individuals to start their business online via social channels. It is an online reselling app designed to easily allow manufacturers and suppliers to list their products online

🎯 Great Eastern Shipping : 

Signed a contract to buy a secondhand mid-sized gas carrier of about 35,188 cbm.

🎯 Eris Lifesciences : 

Promoter Himanshu Shah sold 1.10 lakh shares between March 16-17.

Negative for the stock.