Closing Index

 30 Mar 

BSE CLOSED @ 50136.58 ✅ 1128.08 Points 

NSE CLOSED @ 14845.10 ✅ 337.80 Points 

BankNifty Closed 33875.10 ✅ 556.90 Points 

India VIX Closed 20.4850 ❌ 0.1650 Points.

TO Watch

Stocks To Watch

JSW Steel: Implements resolution plan for Bhushan Power & Steel. A sum of Rs 8,614 crore was arranged in a wholly-owned subsidiary through a mix of equity, optionally convertible instruments to JSW Steel and JSW Shiping & Logistics Pvt. Ltd. and the debt availed by PSL funds.

Adani Transmission: Signs definitive agreement with Essel Infraprojects for acquisition of Warara-Kurnool Transmission Ltd. The acquisition will be done for a cash consideration of Rs 3,370 crore. The asset will take the company closer to its target of setting up 20,000 circuit kilometers of transmission lines by 2022.

JSW Energy: Board has approved a proposal for issuance of green bonds by JSW Hydro Energy, the company's material subsidiary, for raising $750 million from international markets. The funds will be raised through issuance of non-convertible, senior, secured, fixed rate green bonds in the international markets, subject to market conditions and receipt of necessary approvals by JSWHEL.

Biocon: Partners with Libbs Farmaceutica to launch generic formulations in Brazil. As part of the out-licensing deal, Biocon will be responsible for drug development and manufacturing while Libbs will leverage its deep expertise and reach in Brazil to import, distribute and market, subject to approval from the country's regulatory agency.

HPCL: Entered into a Share Purchase Agreement for acquisition of shares of HPCL Shapoorji Energy Pvt. Ltd., an associate unlisted company of HPCL from SP Ports Pvt. Ltd., a JV partner. The consideration for the transaction will be paid in cash and is expected to be completed by March 31, 2021. HPCL Shapoorji Energy is in the process of setting and development of 5 MMTPA LNG storage and regasification terminal at Chhara in Gujarat.

Minda Industries: Approves expansion of Balwal Plant capacity to 1.8 lakh wheels per month from 1.2 lakh wheels per month. The fresh investment approved for the same is Rs 167 crore and the expanded production is likely to commence from January 1, 2022. The board has also approved investment to set up a new project for four-wheel lighting in Gujarat for Rs 89.69 crore. The project is expected to be commissioned in January 2022.

India Grid Trust: Has completed acquisition of 49% paid-up capital and management control of the NER II Transmission from Sterlite Grid 4 at the cost of Rs 4,625 crore. The remaining stake will be acquired in one or more tranches. The acquisition has increased IndiGrid's AUM by ~34% to Rs 20,000 crore. The acquisition has also added Rs 40-45 crore per annum to the net distributable cash flow.

Mazagon Dock: The company’s order book stood at Rs 50,705 crore as of January 31, 2021. Further the company has won order for repair of two Indian Coast Guard Fast Patrol vessels namely ICGS Achook and ICGS SB Phule. The repair order is worth around Rs 7 crore.

Lumax Industries: Board has approved Capital Expenditure of Rs 80 crore for setting up new manufacturing unit in Sanand, Gujarat to cater to the orders received from MG Motors and other customers. Further, the company will set up an office in Czech Republic to strengthen its technological capabilities.

Bliss GVS Pharma: High Court of Justice, Ghana has granted ex-parte interim relief to the company in a commercial suit for infringement of intellectual property rights and the Registrar has been ordered to seize the infringing products.

Shriram City Union Finance: Board has declared second interim dividend of Rs 10 for FY21. The record date for the same is April 7.

Adani Enterprise: A wholly-owned subsidiary of the company, Adani Road Transport, has incorporated a wholly owned subsidiary called PRS Tolls. The company will act as a Special Purpose Vehicle for implementation of the road project to be awarded by NHAI.

PNC Infratech: Has approved divestment of its entire stake of 35% in Ghaziabad Aligarh Expressway, an associate of the company to Cube Highways and Infrastructure PTE.

South Indian Bank: The RBI has given final approval for setting up of Wholly-Owned Non-Financial Subsidiary for undertaking activities permitted by the central bank.

NBCC: Has awarded the work for redevelopment of Netaji Nagar in New Delhi on an EPC basis including operation and maintenance to NKG Infra for at Rs 1,356 crore. 

PNC Infratech: Has approved divestment of its entire stake of 35% in Ghaziabad Aligarh Expressway, an associate of the company to Cube Highways and Infrastructure PTE.

In News

Stocks in the news

Mukand: Mukand completed the transfer of approximately 55 acres of surplus leasehold land at Thane to NTT Global Data Centers Nav2 fo Rs 801.51 crore which will be utilised for debt repayment. The company will complete the second and final tranche of sale of shares approximately Rs 500 crore in the joint venture, Mukand Sumi Special Steel to Jamnalal Sons in April. As a result, the total finance cost have reduced substantially and is expected to be further brought down in the coming years.

Minda Industries: The board of Minda Industries, the flagship company of UNO Minda Group, approved the expansion plans in its two businesses i.e. Four Wheel (4W) Lighting and 4W Alloy Wheel, considering the improved market scenario and increased demand, wherein the said businesses have been operating at near capacity.

Adani Transmission: Adani Transmission has signed definitive agreements with Essel Infraprojects for acquisition of Warora-Kurnool Transmission (WKTL). As per the agreement, WKTL will develop, operate, and maintain transmission lines aggregating to around 1,750 ckt km. The two significant, 765 kV inter-state transmission lines link Warora to Warangal and Chilakaluripeta to Kurnool via Hyderabad, with a new 765/400 kV sub-station at Warangal, which shall be built & operated as a part of the agreement.

Vascon Engineers: Vascon Engineers has received letter of acceptance amounting to Rs 515.63 crore from Uttar Pradesh Public Works Department for establishment of new medical colleges. The work has to be completed within 18 months from the date of receipt of letter of acceptance.

Lumax Industries: Lumax Industries approved capital expenditure amounting up to Rs 80 crore for setting up of new manufacturing unit(s) in Sanand, Gujarat to cater to the orders received from MG Motors and other customers. The total capex will be funded by mix of debt and internal accruals and peak annualized turnover is expected to be approximately Rs 150 crore post commissioning. The project is expected to be operational by Q3 FY22.

Corporate Actions

Today's Corporate Action 30th Mar Ex Date

AARTIDRUGS Buy Back of Shares

ACC Final Dividend - Rs. - 14.0000

COLPAL Interim Dividend - Rs. - 20.0000

CRISIL Final Dividend - Rs. - 14.0000

EASTWEST Bonus issue 1:4

EASTWEST Stock  Split From Rs.10/- to Rs.2/-

KDDL Right Issue of Equity Shares

SUNCLAYLTD Interim Dividend - Rs. - 11.0000

TVSMOTOR Interim Dividend - Rs. - 1.4000

Today's Key Results/Board Meetings 30-Mar-21

AMS General

AXITA General

BILENERGY Audited Results

BPCAP General

BSELINFRA General;Voluntary Delisting of Shares

DIAMANT General

DUKEOFS General

EVERESTO General

GCKL General;Preferential Issue of shares

GUJTERC General

IMCAP General

INSECTICID Buy Back of Shares

IRIS General

JMDVL General

KAMAHOLD Interim Dividend

MAJESAUT General

MDRNTHR-B Quarterly Results

NARBADA General

NIRAJ Quarterly Results

OCTAL General;Voluntary Delisting of Shares

OLPCL General

PULSRIN General

RAMAPHO Interim Dividend

SHARDA General

SHREEPUSHK General

SOMATEX Voluntary Delisting of Shares

STCINDIA General

SUNCITYSY General

TFL General

TOYAMIND General

UDAYJEW General

UNIAUTO General

UNJHAFOR General

VIAANINDUS General

Key Events

These are some of the main moves in financial markets:

Stocks

The S&P 500 Index declined 0.1% to 3,971.10 as of 4:05 p.m. New York time.

The Dow Jones Industrial Average increased 0.3% to 33,171.37, the highest on record.

The Nasdaq Composite Index sank 0.6% to 13,059.65.

The Nasdaq 100 Index fell 0.1% to 12,965.74.

The Stoxx Europe 600 Index climbed 0.2% to 427.61, the highest in about 13 months.

Currencies

The Bloomberg Dollar Spot Index increased 0.2% to 1,150.47.

The euro dipped 0.2% to $1.1765.

The British pound fell 0.2% to $1.3761.

The Japanese yen depreciated 0.1% to 109.80 per dollar, the weakest in a year.

Bonds

The yield on 10-year Treasuries increased three basis points to 1.71%, the highest in more than a week.

The yield on 30-year Treasuries advanced three basis points to 2.41%, the highest in more than a week.

Germany’s 10-year yield gained three basis points to -0.32%, the highest in a week.

Britain’s 10-year yield advanced three basis points to 0.788%, the highest in a week on the largest gain in more than a week.

Commodities

West Texas Intermediate crude gained 1% to $61.56 a barrel, the highest in more than a week.

Gold depreciated 1.2% to $1,711.50 an ounce, the weakest in three weeks on the largest drop in almost four weeks.