The benchmark indices are heading for a likely flat start on Tuesday as per trends indicated by the SGX Nifty futures, which were quoting at 17,169 levels around 7:30 am, higher by only 10 points from the previous close. Global markets also closed lower on Monday as the Russia-Ukraine war continued to weigh on sentiment.
Airlines: Domestic air traffic rose 20 per cent sequentially to 7.69 million in February, up from 6.4 million in January. Airlines saw a sharp rebound in traffic with the decline of Covid cases and easing of restrictions. This was reflected in a jump in passenger load factors registered in February. Read more
Zomato: Food delivery major Zomato said on Monday that it will be piloting a service to deliver food in 10 minutes from next month, claiming that the cost to end customers may reduce by 50 per cent if the plan works as envisioned. Read here
Deepak Nitrite: ICRA has upgraded the long term rating from 'AA-' to 'AA', and re-affirmed the short term rating at 'A1+' for Rs 756.27 crore bank facilities of Deepak Phenolics, a wholly-owned subsidiary of the company. The outlook on the long-term rating has been revised to Positive from Stable. ICRA has also reaffirmed the long-term rating at AA and short term rating at A1+ for Rs 490 crores bank facilities and Rs 200 crores commercial paper of Deepak Nitrite. The outlook on the long-term rating has been revised to Positive from
Stable.
Equitas Small Finance Bank(ESFB) : Equitas Holdings' board has approved amalgamation with ESFB. Shareholders will get arm's 231 shares for 100 shares held. NHPC: As per reports, LIC has sold 2.03 per cent stake in NHPC.
LIC's stake is now 7.23 per cent in the company from 9.26 per cent earlier.
L&T: The company's board will meet on March 24 to consider raising funds via debt.
Wipro: The company's board will meet on March 25 to consider payment of an interim dividend. Sun Pharma: The company has entered into a pact to acquire 11.28 per cent stake in Zenotech Laboratories for Rs 5.32 crores. After the acquisition, its holding would increase from 57.56 per cent to 68.84 per cent in the company.
Godawri Power Ispat: The company has signed an agreement with Hira infraTek Limited (HITL) to acquire 44,54,621 equity shares of Hira Ferro Alloys Limited (HFAL) from HITL. Subsequent to acquisition, the company's holding in HFAL shall be increased from 56.45 % to 75.66 %. The total cost of acquisition is Rs 99.78 crores.
REC: The company will raise funds via debt for FY23. Its board has also approved Rs 85,000 crore market borrowing programme via debt.
PNB: The bank's board will meet on March 29 to consider raising funds via basel-III compliant additional tier-1 bonds and/or tier-2 bonds or combination, in one or more tranches for FY 2022-23.
Jet Airways: The Kalrock-Jalan consortium outlined the progress in the revival of Jet Airways on Monday, while seeking more time for the execution of its plans. The consortium made a submission to this effect before the National Company Law Tribunal. The tribunal will now hear the application on Tuesday as lenders counsel Janak Dwarkadas did not have instructions on the matter. Read more
Stocks in F&O ban: Balrampur Chini, IndiaBulls Housing Finance, Delta Corp.
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