The market witnessed listless trading activity with Nifty forming a lower high and higher low setup after a Doji star on the previous day. This setup indicates that breakout would now be activated on a move above 17,060 for an immediate reaction towards 17,500. The last few days of the financial year end are seen as portfolios realigning towards low volatility stocks and hence, we can expect major swings in the market post 1st April 2023.
The overall data in the market indicates that we should see a major upswing in the coming days and expect early signals to emerge from the fall in India’s VIX below the 14.3 mark.
S&P Dollex 30 ie Sensex in USD
Stocks to watch
Positive Read through
- GR Infraprojects secures LoA for a project worth Rs 587.6 crore from East Coast Railway.
- Jindal Stainless acquires a 49 pct stake in Indonesia-based nickel pig iron company for USD 157 mn.
- Zydus Lifesciences has received final approval for Loperamide hydrochloride capsules from USFDA.
- REC has transferred its entire shareholding in Khavda II-A Transmission Limited, at par value along with all its assets and liabilities, to Adani Transmission.
- NBCC has secured work orders worth Rs 146.39 crore.
- SML Isuzu will increase the prices of trucks and buses by up to 4 pct and 6 pct, with effect from April 1.
- Govt receives about Rs 1,355 cr from GAIL as dividend tranche.
- RPP Infra Projects gets a work order worth Rs 148 crore.
- Vedanta board approves fifth interim dividend for FY23 of Rs 20.5 per sh.
- NBCC secures orders worth Rs 146.4 crore.
- Adani Group- Clarifies, and refutes report by The Ken on pledged shares.
- HFCL- bags order worth Rs 282.6 cr from Gujarat Metro Rail Corp.
- ZF Steering- Robert Bosch Automotive Steering exits the entire 25.79 pct stake in Co at Rs 400 a sh.
- RHI Magnesita- The board meets on April 1 to consider fundraising.
Negative Read through
- Adani Transmission, Adani Ports have exposure to higher contagion risks says Fitch report.
- Shree Cement- Co detected an IT security incident on March 28 on its IT assets.
- MapmyIndia- Zenrin Co sells 1.5 pct stakes in Co at Rs 1000 a sh.
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