3rd March, 2021 Morning Brief

Market will continue yesterday's rally to open on a positive note today.

Dow Futures are trading positive with 100 points. 

Asian equities are mixed this morning after an overnight drop on Wall Street amid concerns over excessive investor optimism.

Wall Street ended lower on Tuesday, pulled down by Apple and Tesla, while materials stocks climbed as investors waited for the US Congress to approve another stimulus package.

The Dow Jones Industrial Average fell 0.46% to end at 31,390.47 points, while the S&P 500 lost 0.81% to 3,870.36. The Nasdaq Composite dropped 1.69% to 13,358.79.

🎯 News & Impact 🎯 

🎯 Reliance Bhartiartl Vi :

The 4G telecom spectrum auction 2021 ended on March 2 with the government receiving bids worth Rs 77,814.80 crore. Jio is the biggest buyer by acquiring a total of 488.35 MHz of spectrum for Rs 57,122.65 crore, followed by Bharti Airtel with 355.45 MHz at Rs 18,698.75 crore, and Vodafone Idea with 11.80 MHz for Rs 1,993.40 crore.

🎯 IRCON International : Government proposes to sell 4.7 crore shares or 10% of the total equity through an offer for sale.

🎯 Bharat Forge, RK Forgings : 

Class 8 Truck orders in the U.S. rise 209% to 44,000 units in February from 14,243 units during the same period last year.

🎯 Engineers India : 

Indian Oil Corporation has awarded the project for execution of consultancy for overall project management and EPCM services (Phase II) for capacity expansion of Panipat Refinery from 15 MMTPA to 25 MMTPA to the company.

🎯 Jaiprakash Power Ventures : 

Has approved disinvestment of 74% shareholding in the Jaypee Powergrid - a Joint Venture Company of Power Grid Corporation of India and the company. Power Grid to buy the stake from the company.

Positive for the stock. 👍 

🎯 V-Mart Retail : 

The company has opened a new store in Bihar and has also closed two stores in Assam and Uttar Pradesh respectively.

🎯 Zuari Agro Chemicals : 

The company has executed Business Transfer Agreement with Paradeep Phosphates on March 1, 2021 for sale of fertiliser plant in Goa on a slump sale basis.

🎯 Kirloskar Ferrous Industries : The Board of Directors has declared an interim dividend of Rs 2 per equity share.

🎯 Godrej Agrovet : 

Promoter Godrej Industries bought 16,000 shares on February 25.

Positive for the stock. 👍 

🎯 Dabur India : 

Promoter Mohit Burman bought 20,000 shares on February 24.

Positive for the stock. 👍 

🎯 Deepak Fertilisers & Petrochemicals Corporation : Promoter Robust Marketing Services bought 53,500 shares on February 26.

Positive for the stock. 👍 

🎯 Mastek : 

Promoter Ashank Desai bought 22,894 shares on February 26.

Positive for the stock. 👍 

🎯 Aarti Industries : 

Promoter Jaya Gogri sold 25,000 shares on March 1.

Negative for the stock. 

🎯 Inox Wind : 

Promoter Inox Wind Energy sold 6.90 lakh shares between February 25 and March 1.

Negative for the stock.  

🎯 Chambal Fertilisers & Chemicals : 

Promoter Zuari Global revoked pledge of 11.50 lakh shares on February 26.

Positive for the stock. 👍 

🎯 JSW Steel : 

Promoters JTPM Metal Traders and JSW Techno Projects Management revoked pledge of 27.40 lakh shares between February 24-25.

Positive for the stock. 👍 

🎯 JSW Energy : 

Promoter JSW Investments revoked pledge of 38.90 lakh shares on February 25.

Positive for the stock. 👍

🎯 Adani Enterprises : 

Promoters Gautam Adani and Rajesh Adani revoked pledge of 26 lakh shares on February 26.

Positive for the stock. 👍

🎯 Adani Ports & SEZ : 

Promoters Gautam Adani and Rajesh Adani revoked pledge of 98.65 lakh shares on March 1.

Positive for the stock. 👍

🎯 Adani Green Energy : 

Promoters Gautam Adani and Rajesh Adani revoked pledge of 2.69 crore shares on March 1.

Positive for the stock. 👍

🎯 Sun Pharmaceutical Industries : Promoter Shanghvi Finance revoked pledge of 81.60 lakh shares on February 25.

Positive for the stock. 👍

🎯 Orient Cement : 

Promoter Shekhavati Investments and Traders revoked pledge of 16.45 lakh shares on February 26.

Positive for the stock. 👍

🎯 Orient Electric : 

Promoter Shekhavati Investments and Traders revoked pledge of 21.50 lakh shares on February 26.

Positive for the stock. 👍

🎯 Emami : 

Promoter Sneha Enclave created a pledge of 1.79 lakh shares on February 26.

Negative for the stock.