Indices at previous closing
Nifty50: 16,594 ▲249 (+1.5%)
Sensex: 55,464 ▲817 (+1.5%)
Nifty Bank: 34,475 ▲660 (+1.9%)
For more updates on F&O, click here.
Kalpataru Power gains on new order
Shares of the power transmission and infrastructure company soared 6% intraday after it announced that it had received a letter of intent (LoI) for an order worth ₹3,276 crore. This order includes the designing, engineering, supplying and constructing of an HVDC power transmission line of 700 km.
As of December 2021, the company’s consolidated order book stood at ₹31,702 crore, which is 2.4 times its FY21 revenue. Meanwhile, shares of Kalpataru Power Transmission pared some of their gains and closed 2.5% higher.
Sunflower oil prices may rise further
Prices of sunflower oil, which is used for cooking, are expected to rise further as the Russia-Ukraine conflict continues. Sunflower oil prices have already gone up 25% to 30% due to the disruption in supply and the resulting shortage.
It is important to note that around 90% of the world’s sunflower oil is sourced from Ukraine and Russia. Meanwhile, shares of the recently listed edible oil manufacturer Adani Wilmar were up around 1% yesterday.
Govt hopes to launch the LIC IPO soon
The government is monitoring the stock markets and hopes to launch the LIC IPO soon, according to reports. This comes after the market regulator gave its nod for the LIC IPO.
The government reportedly hopes that the market volatility will reduce. However, the merchant bankers have told the government that market conditions are adverse and there is a lack of appetite for a share sale. For more details about the LIC IPO, click here.
Sectoral indices (March 10)
| Top gainers | Top losers |
| Nifty FMCG
▲ 3.0% |
Nifty IT
▼ 0.1% |
| Nifty PSU Bank
▲ 2.3% |
NA |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.3% |
| Nikkei 225 (Japan) | ▼ 2.4% |
| Hang Seng (Hong Kong) | ▼2.8% |
| SSE Composite (China) | ▼ 0.8% |
| Dow Jones (US) (March 10) | ▼ 0.3% |
| NYSE (US) (March 10) | ▼ 0.3% |
| Nasdaq (US) (March 10) | ▼ 0.9% |
| S&P 500 (US) (March 10) | ▼ 0.4% |
Fact of the day
Nine Indian startups became unicorns in the first two months of 2022.
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Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.
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