Indices at previous closing
Nifty50: 16,630 ▲ 35 (0.2%)
Sensex: 55,550 ▲ 85 (0.1%)
Nifty Bank: 34,546 ▲ 70 (0.2%)
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RBI lifts curbs on HDFC Bank
The Indian central bank has removed all the restrictions placed on the HDFC Bank's new digital activities. Following this, India’s largest private bank has reportedly said that it has chalked out plans to meet customers’ evolving digital requirements.
In December 2020, the RBI had imposed curbs on HDFC Bank's new digital launches and stopped it from issuing new credit cards after repeated outages at the lender's data centre. However, in August 2021, the RBI partially lifted the restrictions, allowing the resumption of new credit card issuances. On Friday, shares of HDFC Bank closed 0.2% higher but the announcement was made over the weekend.
Tata Steel looks at alternative coal sources
As the Russia-Ukraine war continues, the management of the steel maker has said that it is looking for alternative markets for sourcing coal for its domestic and European operations. The company reportedly sources around 15% of its coal requirement from Russia.
It is important to note that coal is a key raw material for making steel. The management also said that the current metal supply disruption provides an opportunity for Indian steel manufacturers to fill the vacuum. Meanwhile, shares of Tata Steel were down 0.7% on Friday.
Navi Technologies files papers for IPO
The Sachin Bansal-led fintech player has filed the draft red herring prospectus (DRHP) with the market regulator SEBI. The company plans to raise ₹3,350 crore through the IPO route.
The funds, which will be raised through the fresh issue of shares, will be invested in the company’s subsidiaries. The technology-focused company sells financial products and services including loans, insurance and exchange-traded funds.
Sectoral indices (March 14)
| Top gainers | Top losers |
| Nifty Media ▲ 1.8% | Nifty Realty ▼ 1.8% |
| Nifty IT ▲ 1.5% | Nifty Metal ▼ 1.2% |
Global markets (at 8:00 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.6% |
| Nikkei 225 (Japan) | ▲ 0.5% |
| Hang Seng (Hong Kong) | ▼ 4.2% |
| SSE Composite (China) | ▼ 2.0% |
| Dow Jones (US) (March 14) | ▼ 1.4% |
| NYSE (US) (March 14) | ▼ 1.1% |
| Nasdaq (US) (March 14) | ▼ 2.1% |
| S&P 500 (US) (March 14) | ▼ 1.3% |
Fact of the day
Between FY17 and FY21, digital payment transactions grew over five-fold from 1,004 crore to 5,554 crore.
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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.