Market Analysis Today
Mar 14 2024Stock to Buy Today
🔸 Tata Motors
The company signed an MoU with Tamil Nadu government to set-up vehicle manufacturing facility. This MoU requires investment of Rs 9,000 crore over 5-year period.
🔸 Adani Enterprises
Adani ConneX’s Hyderabad site gets five-star grading from the British Safety Council.
🔸 IIFL Finance
The company approved raising up to Rs 1,500 crore via issue of shares and up to Rs 500 crore via NCDs on a private placement basis
🔸 Sanofi India
The Board has approved an exclusive distribution and promotion agreement between SIL and Emcure Pharmaceuticals Limited for SIL’s Cardiovascular products in India
🔸 Cyient Limited
The company has announced that it has signed a multiyear services agreement with Airbus for cabin and cargo engineering.
Stock for Intraday Trading
🔸 RVNL
RVNL-SALASAR JV has received Letter of Award from Madhya Pradesh Power Transmission Co Ltd for construction of 132 kV & 220 kV transmission lines and associated feeder bays on total turnkey basis in eastern MP”.
🔸 Federal bank
Pursuant to a letter from RBI, the bank has stopped issuance of new co-branded credit cards. The Bank is in the process of rectifying the areas that are deficient and will seek regulatory clearance prior to resumption of new issuance
🔸 Indian Hume Pipe
The company received orders worth Rs 230 crore from Telangana government for water supply and sewerage projects.
🔸 Bharat Forge
The company approved the fundraise of Rs 12.5 crore by way of the issuance of NCDs on a private placement basis and an unsecured loan up to Rs 37.5 crore
Stocks in News Today
🔸 HAL
The Defence ministry signed two contracts with a combined value of Rs 8,073 crore with HAL for acquisition of 34 advanced light helicopters and associated equipment for the Indian Army and the Coast Guard
🔸 IFCI Limited
Board meeting to be held on March 19, 2024, to consider Preferential Issue of equity shares to the Government of India subject to the approval of Shareholders.
Securities in Ban For Trade Date 14-MAR-2024:
1 ABFRL
2 HINDCOPPER
3 MANAPPURAM
4 NATIONALUM
5 PEL
6 RBLBANK
7 SAIL
8 TATACHEM
9 ZEEL
Market Action @ – Thursday, March 14th 2024
Wall Street takes a breather in Wednesday’s trade as investors brace for Thursday’s PPI inflation and retail sales data.
The said US data is particularly critical after a string of recent hotter-than-expected inflation readings that have pushed back expectations for the Fed`s first rate cut.
Gift Nifty is treading water in early action indicating volatility will continue to be the hallmark of today’s trade.
GLOBAL UPDATE:
# GIFT Nifty (-56, 22020)
# Dow Future (+58, 39101)
# Nikkei (-191, 38505)
# Hang Seng (+38, 17121)
# Dow Jones (+38, 39043)
# Nasdaq (-88, 16178)
# Bovespa (+338, 128006).
WHAT EXACTLY HAPPENED AT WALL STREET IN YESTERDAY’S TRADE:
# US stocks were mostly flat in Wednesday’s trade, after strong gains during the previous session when the S&P 500 closed at a record high following inflation data.
The Magnificent Seven group of megacap technology stocks were a drag, weighing on the broader market.
# The long short of overnight trading was that the street was cautious ahead of Thursday’s PPI report for February.
# According to CME Group`s Fed Watch Tool, futures traders are currently pricing in a 58% chance the first quarter-point rate cut will come in June. Odds it will occur in July are at 46%.