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Market Preview
Today’s Market Prediction:- Indian stock market Would open FLAT
- Technically, Nifty is in the Bearish zone- BankNifty is in the Bearish zone
- Nifty index formed a long bearish candlestick pattern on the daily charts.
- India VIX fell by 1.26 percent to 13.30 levels.
- Bank of India:The IBU Gift City Branch has executed the facility agreement for borrowing JPY 15 billion (equivalent to $100 million) for on-lending and other general corporate purposes at overseas branches.
- Wipro:The technology services and consulting company has won a 500 million pound, 10-year strategic deal with Phoenix Group, the UK's largest long-term savings and retirement business.
- Sterlite Technologies:The optical and digital solutions company announced its partnership with Wyre to support the development of their expansive multigigabit fibre-to-the-home (FTTH) network in Belgium.
Stocks in NEWS:- JB Chemicals and Pharmaceuticals::Promoter Tau Investment Holdings Pte is likely to sell a 10.2% stake in the company via block deals. The offer price for the deal may be set at Rs 1,625 per share, and the deal size is likely to be Rs 2,576 crore. Max Financial Services:Promoter entity Max Ventures Investment Holding is likely to sell up to a 1.59% stake in Max Financial via block deals. The offer price may be fixed at Rs 1,117.6 per share, and the block deal size at Rs 611.6 crore. UPL:Alpha Wave Ventures II, LP has invested $100 million for a 3.51% stake in Advanta Enterprises through a primary investment. The company sold an 8.93% stake (post-primary investment) in Advanta Enterprises to Alpha Wave for $250 million. TVS Supply Chain Solutions:The company will invest up to Rs 250 crore in its three wholly owned overseas subsidiaries - TVS Logistics Investment UK, TVS Supply Chain Solutions Pte Ltd, Singapore, and TVS Logistics Investments USA Inc, USA. Torrent Power:The company sold equity shares of its 10 subsidiaries for Rs 474.26 crore to its wholly owned subsidiary company Torrent Green Energy. Indian Hotels Company:The company has infused $9 million as equity in IHOCO BV, its wholly owned subsidiary in the Netherlands. The investment amount will be used by IHOCO BV to further invest in its subsidiary United Overseas Holding Inc in the USA to repay its debt and for other operational purposes. Restaurant Brands Asia:The Fund Raising Committee has closed a Qualified Institutions Placement and raised Rs 500 crore via the allotment of 8.33 crore equity shares to eligible qualified institutional buyers at an issue price of Rs 60 per share, including SBI Mutual Fund, Massachusetts Institute of Technology, Arisaig Asia Fund, ICICI Prudential Life Insurance Company, and Motilal Oswal Large Cap Fund. Bharat Forge:The Ministry of Defence has signed contracts worth Rs 6,900 crore with Bharat Forge and Tata Advanced System for the procurement of 155mm/52 calibre advanced towed artillery gun systems (ATAGS) and high-mobility vehicle 6x6 gun towing vehicles, respectively. NBCC (India):The company has signed a strategic Memorandum of Understanding (MoU) with Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT). They will jointly undertake a wide range of consultancy, fee-based, EPC, and redevelopment projects from concept to commissioning. BSE:The Board will meet on March 30 to consider the proposal for the issue of bonus shares. IRM Energy:The company has signed a 5-year contract with Shell Energy India for the supply of Regasified Liquefied Natural Gas (RLNG). The total quantity to be purchased under the agreement will be 1,23,21,200 MMBtu. Ashok Leyland:The company's step-down subsidiary Switch Mobility, UK, approved the commencement of the consultation process with employees, which could potentially lead to the cessation of its manufacturing and assembly activities at the Sherburn facility. Vedanta:The Board has approved the appointment of Rajiv Kumar as CEO – Aluminium Business and has designated him as Senior Management Personnel at Vedanta, for three years, effective March 26. He joins Vedanta Aluminium from Tata Steel. NHPC:The company has completed the trial run of Unit 3 (200 MW) of the Parbati II HE project (4x200 MW) in Himachal Pradesh.
Market Indication:- Global:FLAT to NEGATIVE NIFTY:FLAT to NEGATIVE BANKNIFTY: FLAT to NEGATIVE PCR:The Nifty Put-Call ratio (PCR), which indicates the mood of the market, climbed to 1.01 on March 27, against 0.92 in the previous session. BULK Deals:Kesoram Industries,Resourceful Automobile etc. Stocks In F&O Ban Period:Nil Results Today: Nil GIFT NIFTY: (Negative) 23517 -13.00 -0.06 FII-DII: DIIs net buy shares worth Rs 2517.70 crore, FIIs net buy Rs 11111.25 crore. NIFTY (23592) The support for the Nifty is: 23460-23405-23315 and the Resistance to the up move is at: 23640-23695-23785 levels.BANKNIFTY (51576): The support for BankNifty is: 51195-51035-50785 and the Resistance to the up move is at 51700-51855-52110 levels
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