Markets ended on a flat note on Tuesday with broader market facing selling pressure while Nifty was able to recoup its losses in the last hour of trade. Nifty futures continues to remain bullish as it is comfortably placed about the breakout line. The decline in India VIX has been caused mainly on back of aggressive put writing in deep in- the-money put which generally seen before a major rally in the key index.
Nifty Futures Chart
Stocks to watch
Positive Read through
- ITC – BAT launches book to sell 3.5 pct stake, price band for sale Rs. 384-400/share.
- Cipla – Gets tentative US FDA nod for hypertension drug Selexipag.
- Shree Cement – To buy five ready mix concrete plants in Mumbai for Rs. 335 mn.
- Aurobindo – Eugia Pharma starts distribution of aseptic products manufactured at unit III.
- Glenmark – Nirma completes acquisition of 75 pct stake in Glenmark Life.
- Titagarh – Launches second 25t bollard pull tug for Indian Navy.
- Macrotech – Promoter sells 4.97 mn shares (0.5 pct equity) via block deals at Rs. 1,180/share.
- Signature Global – Launches new project under affordable HSG policy in Gurugram.
- Sterling & Wilson – Shapoorji says, stake sale reports in company factually incorrect.
- Indoco – Approves purchase of 2,860.75 sq meters of land in Andheri, Mumbai.
- Mahindra Life – Company acquires 9.4 acres land parcel in Whitefield, Bengaluru.
- TCS – Company and SymphonyAI form strategic partnership.
- PayTM – NPCI likely to approve third-party application provider license to Paytm latest by March 15.
- SRF – Incorporates subsidiary SRF Middle East in Dubai for trading in refrigerant gases.
- Glenmark Ph – Completes transfer of remaining 20 pct stake of Glenmark Life Sciences to Nirma.
Negative Read through
- Vedanta – SEBI orders company to pay Rs. 776 mn to Cairn UK Holdings for delayed dividend payment.
- Hindware Home – Salil Kapoor, CEO resigned due to personal reasons, with effect from March 12.
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