Indices at previous closing
Nifty50: 14,690 ▼ -154 (-1.0%)
Sensex: 49,509 ▼ -627 (-1.2%)
Nifty Bank: 33,303 ▼ -571 (-1.6%)
In the news
BPCL acquires OQ's stake in Bina refinery
- The PSU oil marketer said that it has acquired its partner OQ's 36.6% stake in the Bina refinery project in Madhya Pradesh for ₹2,400 crore.
- With this purchase, BPCL will have full control over the refinery, which has an annual capacity of 7.8 million tonnes. Shares of BPCL fell nearly 0.7% in a weak market.
Stamp duty cut not extended in Maharashtra
- The Maharashtra government has decided against extending the stamp duty cut on residential housing, which came into effect from September 2020 and ended on 31 March 2020.
- The duty cut helped improve the demand for housing units during the pandemic. Reports suggest that Mumbai saw a 4.3x YoY jump in property registrations in March 2021. The Nifty Realty index reflected the bullishness as it rose 48% in Q3 and over 6% in Q4 of FY21.
HCC Group wins case against NHAI
- As part of a conciliatory exercise, HCC, formerly Hindustan Construction Company, will receive ₹1,259 crore from the National Highway Authority of India. The two entities were locked in a legal dispute over two stretches of a highway in West Bengal, the ruling for which went in favour of HCC.
- Shares of the Mumbai-based infrastructure company closed at their 4.55% upper circuit on Wednesday.
Likhitha Infra bags orders from oil distributors
- The oil and gas pipeline infrastructure company has reportedly received orders worth ₹200 crore between January and March 2021. Of these, about ₹170 crore-worth of orders were for cross-country pipeline projects, while the rest were city gas distribution contracts.
- The company’s shares listed in October 2020 at an issue price of ₹120. They closed at ₹318 on Wednesday, and have risen about 93% so far in 2021.
Events of the week
Thursday: Initial jobless claims, Manufacturing PMI (US)
Friday: Unemployment rate (US), Holiday (India)
FII/DII data (31 March)
| (₹ crore) | FII | DII |
| 31 March 2021 | -1,686 | 2,082 |
| March Total | 2,023 | 4,426 |
Global markets (at 8:30 am)
| Indices | Today's movement |
| Nikkei 225 (Japan) | ▲ 1.1% |
| Hang Seng (Hong Kong) | ▲ 0.7% |
| SSE Composite (China) | ▲ 0.2% |
| Dow Jones (US) (31 March) | ▼ 0.2% |
Fact of the day
Dr. Verghese Kurien is often confused as the founder of Amul, the Gujarat-based dairy brand. It was founded by Tribhuvandas Patel.
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