Nifty50: 14,956 ▲ 18 (+0.1%)
Sensex: 50,441 ▲ 35 (+0.0%)
The Indian markets opened with a gap-up today. However, they continued to drift downward throughout the day and closed nearly flat. Among the Nifty50 stocks, 27 closed in the green.
Among sectoral indices, the Nifty PSU Bank (+2.1%) and Nifty Media (+1.9%) posted the largest gains, while the Nifty Realty (-0.2%) was the top loser.
| Top gainers | Today's change |
| UPL | ▲ 7.0% |
| GAIL | ▲ 4.2% |
| L&T | ▲ 3.4% |
| Top losers | Today's change |
| IndusInd Bank | ▼ 2.2% |
| Shree Cement | ▼ 2.1% |
| Bajaj Finance | ▼ 2.1% |
Here are the top stories of the day.
Tata Motors to hive off PV segment
- Shareholders of Tata Motors voted in favour of turning its domestic passenger-vehicle division into a separate entity. The company says that the move will help it provide differentiated focus to its PV and commercial-vehicle businesses.
- The PV segment is valued at ₹9,417 crore and the company expects to complete the hiving-off by May-June this year. Despite the news, the stock declined 1.1% today.
Just Dial jumps on IPL ad agreement
- Shares of Just Dial hit their 10% upper circuit after the company announced an advertising agreement for the Indian Premier League (IPL) with Star India. The company will be a ‘co-presenting partner’ during IPL Season 14, which will be held in April-May.
- Earlier in February, Just Dial launched JD Mart, its B2B portal. Its shares have risen about 35% in March so far.
BEML divestment plans gather momentum
- The heavy-equipment maker is reportedly receiving interest from several players for acquiring the government’s 26% stake in the company. The optimism regarding the divestment plan is building in the stock price, which was locked at 20% upper circuit today.
- In Q3, BEML saw strong order inflow of ₹1,730 crore (up 49% YoY), with a total order book of ₹11,620 crore, which is nearly 4x its FY20 revenues.
Talbros rises on new orders
- Automotive gaskets maker Talbros Automotive, along with its JV, has won multi-year orders worth ₹304 crore. The orders are spread over five years with a major portion distributed over 2023-25.
- The company plans to undertake a capex of about ₹20 crore which, along with existing facilities, would help it to successfully execute the order. Shares of the company gained 6.4% today and have gained nearly 65% in the year so far.
Closing bell
The week started with the indices witnessing a range-bound movement. Nothing has changed from last week. The US 10-year Treasury bond yields continue to be on an upswing and rose by 2% today, crude oil prices are still at elevated levels and copper prices are declining. There are no major events that are lined up during the week, except the consumer inflation numbers that are expected on Friday.
The street expects inflation to rise to 4.83% from 4.06% last month. The concerns regarding the expected increase in inflation are likely to remain an overhang on the markets this week.
Good to know
What is arbitrage?
Arbitrage is the practice of taking advantage of a price difference between two or more markets or exchanges. In India, stocks are traded in the two major exchanges, the NSE and BSE. You can buy a stock in one exchange and sell it higher in another and make a profit from the difference. However, for this, you must have the stock in your demat account.
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Investment in securities markets are 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.