Markets always tend to be interesting with something or the other happening all the time. Our Morning Mantra is released before the opening bell and it includes the market commentary along with Corporate & Global news for the day.
U.S. stocks were higher after the close on Friday, as gains in the Industrials, Financials and Technology sectors led shares higher.
Dow
25,336
+441
+1.8%
Dow Futures
25,442
+107
+0.4%
Hangseng
31,495
+499
+1.6%
Nikkei
21,837
+368
+1.7%
SGX Nifty
10,341
+128
+1.2%
Asian shares gained as trade-war concerns took a backseat to economic optimism following a U.S. jobs report Friday that showed the American economy continued to strengthen without the prior month’s rapid wage gains that stoked inflation fears.
Market is expected to open with Gap up note and likely to witness range bound session
Both the Enforcement Directorate (ED) and the Serious Fraud Investigation Office (SFIO) has waded into the ~54-billion loan to the Usha Martin group owed to a consortium of lenders headed by State Bank of India. While the latter has asked the Registrar of Companies to provide a report, the former would examine the case on a reference from the Prime Minister’s Office.None of the parties to the dispute were willing to confirm the developments
Trident Ltd has proposed expansion plans in the State of Madhya Pradesh with the total capital outlay in the tune of INR 7200 crores in phase manner:
Paper: Paper Unit with the capacity of 500 tonne per day
Textile: Processing & CSP capacity in bed sheet. Bed Linen Unit comprising of 500 looms. Terry Towel Unit comprising of 300 looms. Spinning unit comprising of 3 lakh spindles and 200 Rotors.Technical Textile Unit. Garments / Rugs / Top of Bed and Fashion Bedding
Utilities:Co-gen Power plant / solar Power plant.Multi-Specialty Miini Health Centre
The aforesaid projects shall be eligible for various incentives & benefits under Mega Project Policies of the State.The growth plans for the company is in line with Vision to be USD 3 billion in revenues by 2025.
CCI approved the acquisition of Reliance Communication’s towers, optic fibre cable, right to use spectrum and media convergence nodes by Reliance Jio.
Bhushan Steel clarified that Chairman BB Singhal appeared before SFIO on March 8.
Dolphin Offshore Enterprises bagged order worth Rs 6.75 crore from RAL, Malaysia.
Power Grid won contract to establish transmission system for “New WR-NR 765 kV Inter-Regional Corridor”.
Bharat Wire Ropes seeks to raise Rs 50 crore via equity or debt.
Bharti Airtel received NCLT approval for merger of Telenor with self.
ARSS Infrastructure bagged work order worth Rs 15.44 crore.
Amber Enterprises to acquire 70 % in Ever Electronics.
MOIL approved the setting up ferro alloy plants at Balaghat and Gumgaon for Rs 418.8 crore.
Peninsula Land to acquire additional 6.4 % stake in Hem Infra for Rs 13.79 crore.
Aarti Drugs said that its unit in Tarapur MIDC got affected by explosion. The affected plant contributed about 16 % to the company's total revenue as of Dec. 31.
ONGC to sell stake in Gujarat Petrochem project to fund HPCL acquisition.
Arvind promoter Aura Securities pledged 42.50 lakh shares, or 1.64 % stake in favor of Bajaj Finance against loan to be availed.
Avanti Feeds, Apex Frozen Foods, Waterbase: U.S. Department of Commerce has suggested a hike in anti-dumping duty on Indian shrimp to 2.34 %from 0.84 %. Indian shrimp exporters subject to new rates.
Consortium of Jet Airways, France-KLM and Delta is understood to have expressed interest in national carrier Air India (PTI).
Spice Jet Company signed deal with CFM International for $12.5bn for purchase of LEAP -1B engine order for 155 737 MAX airplanes.Add on long term service agreement
Goa Carbon Revoked suspension for 3 months at Goa plant for manufacturing of upto 20,000 mt of CPC
DHFL proposes to issue NCDs worth Rs 500 cr with an additional Rs 250 cr of greenshoe option
NTPC may buy Bihar State Power Holding Co for Rs 3000cr
