Morning Alert..🚀🚀
Govt may soon allow rupee-ruble trade; arrangement will bypass sanctions
The government may soon give the green light to bilateral trade between Russia and India in their national currencies to avoid any trade disruptions, multiple people aware of the matter said. While the Department of Commerce has recommended the proposal, an announcement is likely to be made by the finance ministry after further deliberations between the Department of Economic Affairs and Department of Financial Services. “The finance ministry will take a call on how to peg the two currencies,”
Stocks slip as oil prices continue to soar; Fed says rate hikes on track
India’s benchmark indices slipped more than 2 per cent in intra-day trading on Wednesday, tracking weakness in global markets, as rising global oil prices continued to rattle investors. Concerns about the worsening of inflation, disruptions in global supply chains, and a slowdown in economic growth heightened as the Russia-Ukraine war entered the seventh day. Banking and automobile stocks fell the most, while commodity stocks gained.
India asks Indonesia to raise palm oil supply as prices spike: Report
India has asked Indonesia to increase palm oil shipments to the country to compensate for a loss of sunflower oil supplies from the Black Sea region due to the Ukraine crisis, several government and industry sources in India told Reuters. India, the world's biggest buyer of edible oil, relies on top producer Indonesia for more than half of its palm oil imports, but has been worried by restrictions Jakarta put on its exports in January to calm local prices. In India, the landed cost of imported crude palm oil has risen 38% since Indonesia announced export curbs on Jan. 27.
Commodity play
Gold – Rs 51399/10gm, Silver – Rs 66953/kg, Brcrude – Rs 8368/Barrel, Degumsyoil – Rs 1610/10kg, Copper – Rs 798/kg.
Corporate News
Suzlon Energy - Lenders agree to raise wind energy firm Suzlon Energy stake to 35% by converting its debt of around Rs 4,100 crore into equity.
ITC - ITC to hike milk price in order to pass on procurement cost to consumer.
SBI – Bank`s exposure to Russia, Ukraine less than $10 mn.
Sector in focus - IT, Metals, Oil & Consumer staples.
Govt may soon allow rupee-ruble trade; arrangement will bypass sanctions
The government may soon give the green light to bilateral trade between Russia and India in their national currencies to avoid any trade disruptions, multiple people aware of the matter said. While the Department of Commerce has recommended the proposal, an announcement is likely to be made by the finance ministry after further deliberations between the Department of Economic Affairs and Department of Financial Services. “The finance ministry will take a call on how to peg the two currencies,”
Stocks slip as oil prices continue to soar; Fed says rate hikes on track
India’s benchmark indices slipped more than 2 per cent in intra-day trading on Wednesday, tracking weakness in global markets, as rising global oil prices continued to rattle investors. Concerns about the worsening of inflation, disruptions in global supply chains, and a slowdown in economic growth heightened as the Russia-Ukraine war entered the seventh day. Banking and automobile stocks fell the most, while commodity stocks gained.
India asks Indonesia to raise palm oil supply as prices spike: Report
India has asked Indonesia to increase palm oil shipments to the country to compensate for a loss of sunflower oil supplies from the Black Sea region due to the Ukraine crisis, several government and industry sources in India told Reuters. India, the world's biggest buyer of edible oil, relies on top producer Indonesia for more than half of its palm oil imports, but has been worried by restrictions Jakarta put on its exports in January to calm local prices. In India, the landed cost of imported crude palm oil has risen 38% since Indonesia announced export curbs on Jan. 27.
Commodity play
Gold – Rs 51399/10gm, Silver – Rs 66953/kg, Brcrude – Rs 8368/Barrel, Degumsyoil – Rs 1610/10kg, Copper – Rs 798/kg.
Corporate News
Suzlon Energy - Lenders agree to raise wind energy firm Suzlon Energy stake to 35% by converting its debt of around Rs 4,100 crore into equity.
ITC - ITC to hike milk price in order to pass on procurement cost to consumer.
SBI – Bank`s exposure to Russia, Ukraine less than $10 mn.
Sector in focus - IT, Metals, Oil & Consumer staples.
The Ramco Cements: Promoter group Rajapalayam Mills sold 1.27 lakh shares on Feb. 28.
Maharashtra Seamless: Promoter group Sudha Apparels bought 40,312 shares between Feb. 24 and Feb. 28.
Vaibhav Global: Promoter group Brett Enterprises bought 2,500 shares on Feb. 28.
Apar Industries: Promoter & Director Chaitanya N. Desai bought 5,094 shares on Feb. 28.
Ramkrishna Forgings: Promoter Riddhi Portfolio bought 2,500 shares on Feb. 28.
PSP Projects: Promoter & Director Prahaladbhai S. Patel bought 5,000 shares on Feb. 28.
Nuvoco Vistas Corporation: Promoter Niyogi Enterprise bought 1 lakh shares on Feb. 28.
Maharashtra Seamless: Promoter group Sudha Apparels bought 40,312 shares between Feb. 24 and Feb. 28.
Vaibhav Global: Promoter group Brett Enterprises bought 2,500 shares on Feb. 28.
Apar Industries: Promoter & Director Chaitanya N. Desai bought 5,094 shares on Feb. 28.
Ramkrishna Forgings: Promoter Riddhi Portfolio bought 2,500 shares on Feb. 28.
PSP Projects: Promoter & Director Prahaladbhai S. Patel bought 5,000 shares on Feb. 28.
Nuvoco Vistas Corporation: Promoter Niyogi Enterprise bought 1 lakh shares on Feb. 28.
Morning Alert..
81 high-impact infrastructure projects make it to Gati Shakti list
The industry department has identified 81 high-impact projects under various infrastructure ministries for the government’s Gati Shakti initiative. These projects will be closely monitored in 2022-23, according to officials. Major industrial corridors of National Industrial Corridor Development Corporation (NICDC), key expressways and highways, such as 1,257-km Amritsar-Jamnagar expressway, 1,350-km Delhi-Mumbai expressway, and 210-km Delhi-Saharanpur-Dehradun expressway, and the world’s largest broadband project BharatNet will be among the government’s priority.
India Inc busy with back-to-office drill as Covid-19 cases decline
With a sharp decline in the rate of Covid-19 infections, companies across sectors that had switched to work from home, are now ready to welcome their employees back to office. However, there is a clear divide emerging amongst sectors — between those that want 100 per cent of their employees to work from office, and those, led by the IT companies and startups, that are opting for a hybrid workplace model.
Indian embassy asks Indians still stranded in Ukraine to fill up e-forms
The Indian embassy in Ukraine on Sunday asked all Indians who are still stuck in the conflict-stricken country to fill up an online form on an urgent basis. "All Indian nationals who still remain in Ukraine are requested to fill up the details contained in the attached Google Form on an URGENT BASIS. Be Safe Be Strong," it said in a tweet.
Commodity play:
Gold – Rs 51528/10gm, Silver – Rs 67580/kg, Brcrude – Rs 8465/Barrel, Degumsyoil – Rs 1528/10kg, Copper – Rs 827/kg.
Corporate News:
Vodafone Idea – Cos promoters amend shareholders pact to protect governing rights.
Coal India – Cos subsidiary BCCL's output up by record 61% in February to 3.24 mt.
Sector in focus - Banks, Metals, IT & Real-Estate.
81 high-impact infrastructure projects make it to Gati Shakti list
The industry department has identified 81 high-impact projects under various infrastructure ministries for the government’s Gati Shakti initiative. These projects will be closely monitored in 2022-23, according to officials. Major industrial corridors of National Industrial Corridor Development Corporation (NICDC), key expressways and highways, such as 1,257-km Amritsar-Jamnagar expressway, 1,350-km Delhi-Mumbai expressway, and 210-km Delhi-Saharanpur-Dehradun expressway, and the world’s largest broadband project BharatNet will be among the government’s priority.
India Inc busy with back-to-office drill as Covid-19 cases decline
With a sharp decline in the rate of Covid-19 infections, companies across sectors that had switched to work from home, are now ready to welcome their employees back to office. However, there is a clear divide emerging amongst sectors — between those that want 100 per cent of their employees to work from office, and those, led by the IT companies and startups, that are opting for a hybrid workplace model.
Indian embassy asks Indians still stranded in Ukraine to fill up e-forms
The Indian embassy in Ukraine on Sunday asked all Indians who are still stuck in the conflict-stricken country to fill up an online form on an urgent basis. "All Indian nationals who still remain in Ukraine are requested to fill up the details contained in the attached Google Form on an URGENT BASIS. Be Safe Be Strong," it said in a tweet.
Commodity play:
Gold – Rs 51528/10gm, Silver – Rs 67580/kg, Brcrude – Rs 8465/Barrel, Degumsyoil – Rs 1528/10kg, Copper – Rs 827/kg.
Corporate News:
Vodafone Idea – Cos promoters amend shareholders pact to protect governing rights.
Coal India – Cos subsidiary BCCL's output up by record 61% in February to 3.24 mt.
Sector in focus - Banks, Metals, IT & Real-Estate.
Sensex down over 1200 pts intraday, Nifty below 16,000.. 🙂
India sees highest FII outflows since 2008 Global Financial Crisis..
India sees highest FII outflows since 2008 Global Financial Crisis..
Tops News :
* SUGAR STOCKS : RUSSIA MAY TEMPORARILY BAN SUGAR EXPORTS TO OUTSIDE EURASIAN ECONOMIC UNION - IFAX QUOTES SOURCE
* PUTIN SAYS ON FERTILIZER MARKETS: THE SITUATION IS GETTING WORSE
* PUTIN SAYS ON FERTILIZER MARKETS: THE PRICE COULD RISE FURTHER
* PUTIN SAYS ON FERTILIZER MARKETS: THAT WILL MAKE FOOD MORE EXPENSIVE
* RUSSIAN INDUSTRY MINISTER MANTUROV SAYS RUSSIA DECIDED TO TEMPORARY SUSPEND FERTILIZERS EXPORTS
* IRAN'S FOREIGN MINISTER AMIRABDOLLAHIAN EU'S FOREIGN MIN. BORRELL: NEW US DEMANDS IN NUCLEAR TALKS ARE UNREASONABLE AND CONTRADICT THE US' AIM FOR A QUICK AGREEMENT.
* KPI GLOBAL: Co. successfully commissioned 3.50 MWc1c solar power project for M/s. Prachi Mittal Creations Private Limited, Surat under 'Captive Power Producer (CPP)' Segment of the Company.
* SPA signed today by JV partners of NINL with Tata Steel Long Products. The disinvestment transaction now moves to the closing stage: SecyDIPAM
* SUGAR STOCKS : RUSSIA MAY TEMPORARILY BAN SUGAR EXPORTS TO OUTSIDE EURASIAN ECONOMIC UNION - IFAX QUOTES SOURCE
* PUTIN SAYS ON FERTILIZER MARKETS: THE SITUATION IS GETTING WORSE
* PUTIN SAYS ON FERTILIZER MARKETS: THE PRICE COULD RISE FURTHER
* PUTIN SAYS ON FERTILIZER MARKETS: THAT WILL MAKE FOOD MORE EXPENSIVE
* RUSSIAN INDUSTRY MINISTER MANTUROV SAYS RUSSIA DECIDED TO TEMPORARY SUSPEND FERTILIZERS EXPORTS
* IRAN'S FOREIGN MINISTER AMIRABDOLLAHIAN EU'S FOREIGN MIN. BORRELL: NEW US DEMANDS IN NUCLEAR TALKS ARE UNREASONABLE AND CONTRADICT THE US' AIM FOR A QUICK AGREEMENT.
* KPI GLOBAL: Co. successfully commissioned 3.50 MWc1c solar power project for M/s. Prachi Mittal Creations Private Limited, Surat under 'Captive Power Producer (CPP)' Segment of the Company.
* SPA signed today by JV partners of NINL with Tata Steel Long Products. The disinvestment transaction now moves to the closing stage: SecyDIPAM
HCL Technologies - A Setup that made Sense.
It worked out well.. Trading is all about opportunities..
It worked out well.. Trading is all about opportunities..
Insider Trades
Seshasayee Paper & Boards: Promoters Time Square Investments bought 10,000 shares on March 11.
Vaibhav Global: Promoter Group Brett Enterprises bought 2,000 shares on March 11.
JK Cement: Promoter Yadu International bought 2,400 shares on March 9.
TeamLease Services: Promoters NED Consultants LLP and HR Offshoring Ventures PTE sold 11,600 shares each on March 10.
Nuvoco Vistas Corpo :Promoter Niyogi Enterprise bought 25,000 shares on March 10.
Seshasayee Paper & Boards: Promoters Time Square Investments bought 10,000 shares on March 11.
Vaibhav Global: Promoter Group Brett Enterprises bought 2,000 shares on March 11.
JK Cement: Promoter Yadu International bought 2,400 shares on March 9.
TeamLease Services: Promoters NED Consultants LLP and HR Offshoring Ventures PTE sold 11,600 shares each on March 10.
Nuvoco Vistas Corpo :Promoter Niyogi Enterprise bought 25,000 shares on March 10.
Morning Alert..🚀🚀
Retail inflation hits 8-month high in February, inches up to 6.07%
India’s retail inflation rate inched up to an eight-month high in February, remaining above the upper limit of the central bank’s comfort level of 6 per cent for the second consecutive month, while the wholesale price inflation rate remained in double digits for the eleventh consecutive month. This may make inflationary management challenging amid rising risks to growth in Asia’s third-largest economy.
Markets extend rally to fifth day; Sensex up 935 pts, Nifty tops 16,850
India’s benchmark indices gained for the fifth straight session on Monday ahead of a new round of talks between Russia and Ukraine. The falling oil prices and easing of selling pressure from foreign portfolio investors (FPIs) helped the markets extend gains to over 6 per cent from last week’s lows. Brent crude was trading at $108 a barrel around 8 pm IST, more than 6 per cent down from its previous day’s close and 20 per cent off last week’s high. Russian and Ukrainian negotiators met via videoconference on Monday, with Kyiv insisting on a ceasefire and immediate withdrawal of troops.
EV public charging point player CHARGE+ZONE eyes $100 million fund raise
On the back of a successful electrification of 1000 kms across multiple national highways with its unmanned electric vehicle (EV) charging points, Vadodara-based CHARGE+ZONE is now looking to raise $100 million for network expansion. Having set up 20 such EV charging points, including 15 company-owned company-operated (COCO), across 1,000 km on national highways like Ahmedabad-Rajkot, Mumbai-Nashik, Mumbai-Pune and Delhi-Jaipur, CHARGE+ZONE is now looking to cover over 10,000 km in the country.
Commodity play
Gold – Rs 51794/10gm, Silver – Rs 68252/kg, Brcrude – Rs 8039/barrel, Degumsyoil – Rs 1570/10kg, Copper – Rs 802/kg.
Corporate News
IOL – Co. buys 3 million barrels Russian Urals crude via tender.
RIL - Cos subsidiary Reliance New Energy Limited acquires battery maker Lithium Werks for $61 million.
Vodafone Idea - Co makes foray in e-sports, ties up with Nazara Tech.
Sector in focus - Fertilizers, Sugar, Metals & IT.
Retail inflation hits 8-month high in February, inches up to 6.07%
India’s retail inflation rate inched up to an eight-month high in February, remaining above the upper limit of the central bank’s comfort level of 6 per cent for the second consecutive month, while the wholesale price inflation rate remained in double digits for the eleventh consecutive month. This may make inflationary management challenging amid rising risks to growth in Asia’s third-largest economy.
Markets extend rally to fifth day; Sensex up 935 pts, Nifty tops 16,850
India’s benchmark indices gained for the fifth straight session on Monday ahead of a new round of talks between Russia and Ukraine. The falling oil prices and easing of selling pressure from foreign portfolio investors (FPIs) helped the markets extend gains to over 6 per cent from last week’s lows. Brent crude was trading at $108 a barrel around 8 pm IST, more than 6 per cent down from its previous day’s close and 20 per cent off last week’s high. Russian and Ukrainian negotiators met via videoconference on Monday, with Kyiv insisting on a ceasefire and immediate withdrawal of troops.
EV public charging point player CHARGE+ZONE eyes $100 million fund raise
On the back of a successful electrification of 1000 kms across multiple national highways with its unmanned electric vehicle (EV) charging points, Vadodara-based CHARGE+ZONE is now looking to raise $100 million for network expansion. Having set up 20 such EV charging points, including 15 company-owned company-operated (COCO), across 1,000 km on national highways like Ahmedabad-Rajkot, Mumbai-Nashik, Mumbai-Pune and Delhi-Jaipur, CHARGE+ZONE is now looking to cover over 10,000 km in the country.
Commodity play
Gold – Rs 51794/10gm, Silver – Rs 68252/kg, Brcrude – Rs 8039/barrel, Degumsyoil – Rs 1570/10kg, Copper – Rs 802/kg.
Corporate News
IOL – Co. buys 3 million barrels Russian Urals crude via tender.
RIL - Cos subsidiary Reliance New Energy Limited acquires battery maker Lithium Werks for $61 million.
Vodafone Idea - Co makes foray in e-sports, ties up with Nazara Tech.
Sector in focus - Fertilizers, Sugar, Metals & IT.
Morning Alert..🚀🚀
India's 5G revenues are projected to hit $9 billion by 2026, says report
India’s 5G revenues are projected to hit $9 billion by 2026 and will account for 37.7 per cent of its total mobile services revenues, according to a India Mobile Broadband Index 2022 report released by telecom gear maker Nokia today. The projections were done by research agency, Global Data. However, the study shows that globally, telecom operators will generate as much as 64 per cent of their revenues from 5G services. India, though, will account for a mere 1.39 per cent of global 5G revenues, expected to touch $645 billion by 2026.
India's sugar exports seen rising to 7.5 million tonnes in 2021-22
Indian sugar exports are seen climbing to 7.5 million tonnes in the 2021/22 season, up from the prior season’s 7.1 million, Abinash Verma, Director General of the Indian Sugar Mills Association said on Tuesday. “We believe that we have signed contracts for 6.3 million tonnes in the current season already and contracts are getting signed pretty fast in India every week,” Verma told a sugar conference in Dubai.
Russia-Ukraine war poses upside risk to inflation: Finance ministry
The finance ministry said on Tuesday that high energy and commodity prices due to the Russian invasion of Ukraine may provide an upside risk to inflation and continued vigil is required. “Going forward, elevated energy and commodity prices may act as an upside risk to the inflation outlook in the near-medium term. Given the inherently unsustainable nature of high prices, international commodity prices are expected to level off early with an increase in supplies outside the crisis zone”.
Commodity play
Gold – Rs 51414/10gm, Silver – Rs 67056/kg, Brcrude – Rs 7526/barrel, Degumsyoil – Rs 1550/10kg, Copper – Rs 794/kg.
Corporate News
IndiGo – Co starts flights between India and Thailand after a span of two years.
Oberoi Realty – Co surges to top with highest sales in 2021, shows data.
Sector in focus - Banks, IT, Metals & Fertilizers.
India's 5G revenues are projected to hit $9 billion by 2026, says report
India’s 5G revenues are projected to hit $9 billion by 2026 and will account for 37.7 per cent of its total mobile services revenues, according to a India Mobile Broadband Index 2022 report released by telecom gear maker Nokia today. The projections were done by research agency, Global Data. However, the study shows that globally, telecom operators will generate as much as 64 per cent of their revenues from 5G services. India, though, will account for a mere 1.39 per cent of global 5G revenues, expected to touch $645 billion by 2026.
India's sugar exports seen rising to 7.5 million tonnes in 2021-22
Indian sugar exports are seen climbing to 7.5 million tonnes in the 2021/22 season, up from the prior season’s 7.1 million, Abinash Verma, Director General of the Indian Sugar Mills Association said on Tuesday. “We believe that we have signed contracts for 6.3 million tonnes in the current season already and contracts are getting signed pretty fast in India every week,” Verma told a sugar conference in Dubai.
Russia-Ukraine war poses upside risk to inflation: Finance ministry
The finance ministry said on Tuesday that high energy and commodity prices due to the Russian invasion of Ukraine may provide an upside risk to inflation and continued vigil is required. “Going forward, elevated energy and commodity prices may act as an upside risk to the inflation outlook in the near-medium term. Given the inherently unsustainable nature of high prices, international commodity prices are expected to level off early with an increase in supplies outside the crisis zone”.
Commodity play
Gold – Rs 51414/10gm, Silver – Rs 67056/kg, Brcrude – Rs 7526/barrel, Degumsyoil – Rs 1550/10kg, Copper – Rs 794/kg.
Corporate News
IndiGo – Co starts flights between India and Thailand after a span of two years.
Oberoi Realty – Co surges to top with highest sales in 2021, shows data.
Sector in focus - Banks, IT, Metals & Fertilizers.