The main actions in the spotlight on Monday; From PVR, Inox to Rites. details here
Indian markets saw a bearish tone last week with Sensex and Nifty 50 holding nearly 57,360 and 17,150 marks. The selloff was due to runaway inflation, tighter monetary policy, rising commodity prices and fears of a Russian invasion of Ukraine. Going forward, sentiment for domestic equities will be influenced by developments in global markets this week (March 28-April 01). The week will also mark the end of the last quarter of fiscal FY22, while the first quarter of fiscal 2022-23 will begin.
On Friday last week, Sensex finished at 57,362.20 down 233.48 points or 0.41%. Nifty 50 closed at 17,153 down 69.75 points or 0.40%. From March 21-25, the 30 scrips index fell more than 0.5%, while the 50 scrips index took a massive beating and retreated just over 1%.
Market sentiment will swing this week as investors assess US employment and inflation data, Eurozone inflation, crude oil prices and developments in the Russian-Russian conflict. Ukrainian.
On Monday, here is a list of stocks that will be traded.
RITES Limited: The Company and Mineral Exploration Corporation Limited (MECL) have entered into a Memorandum of Understanding to jointly tender and execute work related to geotechnical studies for civil engineering infrastructure projects. Under this agreement, RITES and MECL will collaborate on technical services, including consultancy assignments, knowledge sharing, and research and development activities.
PVR, Inox Leisure: PVR and Inox Leisure have received board approval for the merger of shares of Inox with PVR. The merger will be carried out in a share exchange ratio (“swap”) where 3 shares of PVR will be exchanged for 10 shares of INOX. The merger will bring together two of India’s top cinema brands to deliver an unparalleled consumer experience with a network of over 1,500 screens. Ajay Bijli would be appointed as Managing Director and Sanjeev Kumar would take over as Executive Director.
Aster DM Healthcare: The company has signed a memorandum of understanding with the government of Tamil Nadu, India to set up healthcare facilities in the state. The memorandum of understanding proposed an investment of ₹500 crores in state hospitals, pharmacies and laboratories.
Titagarh Wagons: The company has reached a new milestone with the commissioning of the first aluminum metro manufactured by Titagarh at its new state-of-the-art plant in West Bengal.
Bharti Airtel: The company will acquire a 7.036% stake in the special purpose vehicle Avaada KNShorapura formed to own and operate the captive power plant. The cost of acquisition will be for the consideration of Rs1,74,26,500. Airtel will acquire 17,42,650 shares with a par value of ₹10 each.
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