SGX Nifty50 futures contract fell 2.1 per cent to 15,896 points as of 6:55 am on Monday which hinted at the likelihood of heavy selling back at home. Bears dominated Dalal Street for the third consecutive session with the benchmark indices falling around 1.5 per cent on March 4, following continuous acceleration in the Ukraine-Russia war and rising oil prices. Selling was seen across sectors, barring IT, with Bank, Auto, Financial Services, FMCG, and Metal being prominent losers.
The BSE Sensex plunged 769 points to 54,334, while the Nifty50 declined 253 points to 16,245. During the week, the index fell 2.5 per cent and formed a bearish candle on the weekly scale.
Nazara Technologies
The mobile gaming company said its board has approved the issuance of equity shares worth Rs 25 crore to existing shareholders of Datawrkz Business Solutions. These shares will be issued on a preferential basis, at a price of Rs 2,260 per share. Post completion of this acquisition, the company will hold 33 per cent equity stake in Datawrkz Business Solutions Private Limited. Further, the company will be making an investment of up to Rs 30 crore in its subsidiary Next Wave by way of subscription to further equity shares. The stock has declined 17 per cent in the past one month.
3i Infotech
The company has bagged a work order from Rajasthan State Pollution Control Board (RSPCB) for design, development, implementation and maintenance of integrated e-Governance Solution 2.0 for the Rajasthan State Pollution Control Board. The total contract value is Rs 12.85 crore. The stock was locked in its upper circuit on March 4 but has declined 31 percent in the past one month.
Coal India
Subsidiary BCCL has posted a record 61 per cent growth in its production to 3.24 million tonne (mt) in February this year over the corresponding month last fiscal, a company statement said.
Nestle India
The company’s board of directors have revised the date of the 63rd Annual General Meeting to April 12, 2022. Consequently, the record date for the purpose of determining the entitlement of the members to the final dividend for the year 2021 is April 22, 2022. If approved by the members at the Annual General Meeting, this shall be paid on and from May 6, 2022.
Tube Investments of India
The firm’s subsidiary acquired 70 per cent stake in Cellestial E-Mobility.
Aviation stocks
The oil prices are likely to increase and this will hit aviation firms such as Indigo, Spicejet.
Oil stocks
The oil marketing companies such as ONGC, IOCL are likely to gain as crude prices go up.
V-Mart
SBI Funds Management through various schemes acquired 4.5 per cent stake in the retail company via open market transactions on March 3. With this, its shareholding in the company stands at 8.76 per cent, against 4.2 per cent earlier. The stock has appreciated by 20 per cent in the past year but has lost 9 percent in the past month.
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