Last updated time: 09 March 2023, 08:22 IST
The Nifty futures contract traded on the Singapore bourse indicated a positive start for domestic stocks. The contract traded at 17,811, up 11 points, or 0.06 percent, from the previous close.
“The global market is back on the edge of uncertainty as the Fed chairman signaled the possibility of an extended and faster rate hike last week, contradicting another Fed official’s statement. The market is now anticipating a 50 bps rate hike, which has lifted the dollar index to a three-month high. However, towards the end of the day, there was a strong recovery in the domestic market, which kept the bulls moving,” said Vinod Nair, head of research at Geojit Financial Services.
SBI
The largest domestic lender has raised Rs 3,717 crore in the current financial year by issuing Basel III compliant Tier 1 Tier 1 bonds at a coupon rate of 8.25%. Proceeds from the bonds will be used to increase Tier 1 additional capital, increase the total capital base and strengthen the bank’s equity capital adequacy.
Bharat Forge
Kalyani Powertrain, a 100% subsidiary, opened its first e-bike manufacturing plant. The facility has a production capacity of 60,000 units per annum and is scalable to 100,000 units per annum, to assemble e-bikes for Tork Motors, in which Kalyani Powertrain holds a 64.29% stake.
Adani Enterprises, Adani Power, Adani Wilmar
The National Stock Exchange of India (NSE) has listed three shares of the Adani Group as part of an additional surveillance measure. The update comes after the group’s flagship firm, Adani Enterprises, was removed from the short-term secondary control system.
Regular scientific
The plan to buy 100% of Tineta Pharma was not implemented. Therefore, the company’s share purchase agreement with Tineta and its promoters has been terminated.
Sagar Cements
As Andhra Cements (ACL) was being acquired, the board of ACL was dissolved and reconstituted with members of the board of directors of Sagar Cement. The company claimed that ACL became a subsidiary of Sagar Cement after the recovery.
Aptus Value Home Finance
The company has denied reports that Chola Invest wants to buy a controlling stake in the company.
Happy Farmova
Jubilant Pharmova has announced in a USFDA notification that it will assign a ‘Voluntary Action Provided’ inspection classification for its API manufacturing facility.
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