Market ends near intraday high; Nifty above 17,200 mark. 28March2022

Despite a weak start, the benchmark indices managed to close higher on Monday. Metals, banks and auto supported the market.

The barometer index, the S&P BSE Sensex rose 231.29 points or 0.40% at 57,593.49. The Nifty 50 index gained 69 points or 0.40% at 17,222.

The S&P BSE Mid-Cap index fell 0.40%. The S&P BSE Small-Cap index slipped 0.53%.

The market breadth, indicating the overall health of the market, was weak. On the BSE, shares 1,171 rose and 2,338 shares fell. A total of 155 shares were unchanged.

Buzzing Index:

The Nifty FMCG index rose 0.54% to 35,714.80. The index fell 0.77% in the past trading session.

ITC (up 1.52%), Hindustan Unilever (HUL) (up 1.40%), Tata Consumer Products (up 1.17%), Godrej Consumer Products (up 0.47%) and Colgate-Palmolive India (up 0.13%) were the top gainers in the FMCG segment.

Stocks in Spotlight:

Bharti Airtel jumped 3.77%. The telecom major has entered into an agreement to acquire 7.036% stake in Avaada KNShorapur for Rs 1.74 crore as cash consideration. Avaada KNShorapur acts as a Special Purpose Vehicle (SPV) under Avaada Indiclean to develop, execute, manage and run upto 10 MW Solar Power Generation Plant(s) in Karnataka. The objects and effects of the acquisition are to comply with regulatory requirement for captive power plants under the provisions of Electricity Act' 2003 and Indian Electricity Rules' 2005 and procurement of cost-effective renewable energy.

Separately, Bharti Airtel's data centre subsidiary, Nxtra Data, has acquired an 11.33% equity stake in Avaada KNShorapur, an SPV formed for the purpose of owning and operating the Captive Power Plant, in terms of the regulatory requirement for captive power consumption under electricity laws. Nxtra Data has acquired the stake for a cash consideration of Rs 2.80 crore for acquisition of aggregate 28,07,350 equity shares of Rs 10 each, Airtel said in a regulatory filing on Friday.

Shares of INOX Leisure soared 11.88% while PVR advanced 3.07%. INOX Leisure, PVR announced a merger in which shareholders will receive 3 shares of PVR in exchange of 10 shares in INOX. The board of PVR and INOX Leisure, at their respective meetings held on Sunday (27 March 2022), approved an all stock amalgamation of INOX with PVR. The amalgamation is subject to approval of the shareholders of PVR and INOX respectively, stock exchanges, SEBI and such other regulatory approvals as may be required.

Upon obtaining all approvals, INOX will merge with PVR. INOX shareholders will receive 3 shares in PVR for 10 shares of INOX. Post the merger, PVR promoters will have 10.62% stake while INOX promoters will have 16.66% stake in the combined entity. The board of the merged company would be re-constituted with total board strength of 10 members and both the promoter families having equal representation on the board with 2 board seats each.

Larsen & Toubro lost 0.52%. The Ministry of Defence has signed a contract with Larsen & Toubro (L&T) for acquisition of two multi-purpose vessels (MPVs) for Indian Navy at an overall cost of Rs 887 crore under “Buy-Indian” category. The MPVs will be the first of its kind platform, constructed to provide a cost-effective solution to meet a variety of requirements of Indian Navy.

These vessels, to be built by M/s L&T shipyard at Kattupally (Chennai), will perform multi-role support functions such as maritime surveillance& patrol, launching/ recovery of torpedoes and operation of various types of aerial, surface and underwater targets for Gunnery/ ASW firing exercises. These vessels would also be capable of towing ships and rendering humanitarian assistance & disaster relief (HADR) support with limited hospital ship capability.

Godrej Properties declined 2.96%. The company announced that it has entered into an agreement to develop a 33 acres land parcel in the residential micro-market of Bannerghatta Road in South Bengaluru. The project will have a developable potential of approximately 3.4 million square feet of saleable area with an estimated revenue of approximately Rs 2,000 crore. The agreement is for an outright purchase with 5% area share to the landowners.

Aster DM Healthcare surged 10.39%. The company announced the signing of a memorandum of understanding (MoU) with the Government of Tamil Nadu, India to set up healthcare facilities in the state. The MoU proposed an investment of Rs 500 crore in hospitals, pharmacies and laboratories in the State. This will help provide quality healthcare at affordable cost to the people of Tamil Nadu and generate employment for more than 3,500 people.

IndiaMART InterMESH shed 1.37%. The firm has announced an investment of approximately Rs. 45.98 crore in Finlite Technologies for acquiring 51.09% stake in the company. As part of the transaction, IndiaMART will be investing Rs 35 crore into the company via primary infusion and purchase shares from the promoters for the remaining amount. Finlite Technologies under the brand name 'Livekeeping', offers value added services to businesses over their existing on-premise accounting softwares, primarily ''Tally''.

Bharti Airtel entered into a contract with Euro Pacific Securities, an affiliate of Vodafone Group Plc to acquire 4.7% stake in Indus Towers (up 3.05%) and its wholly-owned subsidiary, Nettle Infrastructure Investments for an all cash deal of Rs 2,388.06 crore. Bharti Airtel will purchase 4.7% equity stake of Indus Towers and its wholly-owned subsidiary, Nettle Infrastructure Investments, from Euro Pacific Securities, an affiliate of Vodafone Group Plc, on the principal condition that the amount paid shall be inducted by Vodafone Idea (down 1.98%) as fresh equity in Vodafone Idea (VIL) and simultaneously remit to Indus Towers to clear VIL's outstanding dues. The transaction shall be executed at Rs 187.88 per share basis the agreed price formula in the agreement, aggregating to Rs 2,388.06 crore, upon fulfillment of all conditions precedents as agreed by the parties under the agreement.

Global Markets:

European stocks advanced on Monday as investors continued to monitor the developments in the war between Ukraine and Russia.

Ukrainian President Volodymyr Zelenskyy has reiterated that his country is prepared to discuss adopting a neutral status as part of a peace deal with Russia.

Meanwhile, Asian stocks ended mixed as coronavirus lockdown in Shanghai looked set to hit global activity, while throwing another wrench into supply chains that could add to inflationary pressures.

U.S. stock benchmarks closed mostly higher Friday, following choppy trade, after oil prices rebounded on the back of reports of a missile strike on a Saudi Aramco facility and as investors continued to weigh rising interest rates.

New York Fed President John Williams on Friday said he would support a half-point move if justified but indicated it was premature to make a call on the size of a future rate increase.

Indices witness sharp recovery; Nifty above 17,200 level. 28March2022

The benchmark indices rallied near its intraday high during mid-afternoon trade, buoyed by bank and auto stocks. The Nifty re-claimed its 17,200 mark.

The barometer index, the S&P BSE Sensex rose 200.93 points or 0.35% at 57,563.13. The Nifty 50 index gained 59.55 points or 0.35% at 17,212.55.

The S&P BSE Mid-Cap index fell 0.42%. The S&P BSE Small-Cap index slipped 0.43%.

The market breadth, indicating the overall health of the market, was weak. On the BSE, shares 1,175 rose and 2,306 shares fell. A total of 148 shares were unchanged.

Number to Watch:

The yield on 10-year benchmark federal paper rose to 6.836% compared with 6.811% at close in the previous trading session.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 76.1825, compared with its close of 76.24 during the previous trading session.

MCX Gold futures for 5 April 2022 settlement fell 0.78% to Rs 51,472.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.44% to 99.22.

In the commodities market, Brent crude for May 2022 settlement fell $4.45 or 3.69% $116.20 a barrel.

Buzzing Index:

The Nifty Auto index rose 0.63% to 10,419.80. The index had fallen 2.06% in the past three trading sessions.

Tube Investment of India (up 4.12%), Eicher Motors (up 1.54%), Bajaj Auto (up 1.19%), Bharat Forge (up 1.09%) and Maruti Suzuki India (up 0.87%) were the top gainers in the Auto segment.

Stocks in Spotlight:

Aster DM Healthcare soared 10.42%. The company announced the signing of a memorandum of understanding (MoU) with the Government of Tamil Nadu, India to set up healthcare facilities in the state. The MoU proposed an investment of Rs 500 crore in hospitals, pharmacies and laboratories in the State. This will help provide quality healthcare at affordable cost to the people of Tamil Nadu and generate employment for more than 3,500 people.

IndiaMART InterMESH lost 1.15%. The firm has announced an investment of approximately Rs. 45.98 crore in Finlite Technologies for acquiring 51.09% stake in the company. As part of the transaction, IndiaMART will be investing Rs 35 crore into the company via primary infusion and purchase shares from the promoters for the remaining amount. Finlite Technologies under the brand name 'Livekeeping', offers value added services to businesses over their existing on-premise accounting softwares, primarily ''Tally''.

Global Markets:

European stocks moved higher on Monday as investors continued to monitor the developments in the war between Ukraine and Russia.

Ukrainian President Volodymyr Zelenskyy has reiterated that his country is prepared to discuss adopting a neutral status as part of a peace deal with Russia.

Meanwhile, Asian stocks traded in a mixed fashion as coronavirus lockdown in Shanghai looked set to hit global activity, while throwing another wrench into supply chains that could add to inflationary pressures.

U.S. stock benchmarks closed mostly higher Friday, following choppy trade, after oil prices rebounded on the back of reports of a missile strike on a Saudi Aramco facility and as investors continued to weigh rising interest rates.

New York Fed President John Williams on Friday said he would support a half-point move if justified but indicated it was premature to make a call on the size of a future rate increase.

Benchmarks at the high point of the day; metal stocks in demand. 28 March 2022

The domestic equity barometers were currently at the day's high in afternoon trade. The Nifty marched towards the 17,200 mark. Metal stocks extended gains for eight-day in a row.

The barometer index, the S&P BSE Sensex was up 106.11 points or 0.18% to 57,468.31. The Nifty 50 index added 35.95 points or 0.21% at 17,188.95.

Bharti Airtel (up 1.56%), ICICI Bank (up 1.52%), Axis Bank (up 1.49%), Eicher Motors (up 1.41%) and Bajaj Auto (up 1.25%) were the top Nifty gainers.

Dr Reddy's Lab (down 2.12%), Nestle India (down 1.66%), UPL (down 1.55%), HDFC (down 1.22%) and Adani Ports (down 1.04%) were the top Nifty losers.

The broader markets witnessed significant selling pressure. The S&P BSE Mid-Cap index fell 0.51% while the S&P BSE Small-Cap index slipped 0.52%.

The market breadth, indicating the overall health of the market, was weak. On the BSE, shares 1163 rose and 2256 shares fell. A total of 155 shares were unchanged.

Global Markets:

European stocks moved higher on Monday as investors continued to monitor the developments in the war between Ukraine and Russia.

Ukrainian President Volodymyr Zelenskyy has reiterated that his country is prepared to discuss adopting a neutral status as part of a peace deal with Russia.

Meanwhile, Asian stocks traded in a mixed fashion as coronavirus lockdown in Shanghai looked set to hit global activity, while throwing another wrench into supply chains that could add to inflationary pressures.

U.S. stock benchmarks closed mostly higher Friday, following choppy trade, after oil prices rebounded on the back of reports of a missile strike on a Saudi Aramco facility and as investors continued to weigh rising interest rates.

New York Fed President John Williams on Friday said he would support a half-point move if justified but indicated it was premature to make a call on the size of a future rate increase.

Buzzing Index:

The Nifty Metal index rose 0.94% to 6,561.05. The index has added 11.01% in eight sessions.

Ratnamani Metals Tubes (up 3.94%), Coal India (up 3.65%), NMDC (up 2.20%), APL Apollo Tubes (up 2.18%), Hindalco Industries (up 1.17%), JSW Steel (up 0.85%) and National Aluminum Co. (up 0.86%) were the top index gainers.

Meanwhile, SAIL (down 2.81%), Jindal Steel & Power (down 2%) and Hindustan Copper (down 0.65%) edged lower.

Vedanta gained 0.91% to Rs 414.30. The board of Vedanta has approved capital expenditure of $687 million in Cairn Oil & Gas to increase near-term volume. The company earmarked a capex of $466 million towards Zinc International's Gamsberg Phase 2 project. The board has also approved an investment of $348 million for an expansion project at its subsidiary ESL Steel.

Adani Enterprises rose 0.32% to Rs 1,873. The company's two units, Mahanadi Mines and Minerals and MP Natural Resources, have won a coal block each in Odisha and Madhya Pradesh.

Barometers hover near day's low; Nifty holds 17,000 level. 28March2022

The benchmark indices continued trading with modest losses in mid-morning trade. Financial stocks dragged. The Nifty traded a tad below 17,050 mark.

The barometer index, the S&P BSE Sensex dropped 333.14 points or 0.58% at 57,029.06. The Nifty 50 index lost 103.05 points or 0.60% at 17,049.95.

The S&P BSE Mid-Cap index fell 0.95%. The S&P BSE Small-Cap index slipped 0.76%.

The market breadth, indicating the overall health of the market, was weak. On the BSE, shares 1,028 rose and 2,279 shares fell. A total of 146 shares were unchanged.

Foreign institutional investors (FIIs) have net sold shares worth Rs 1,507.37 crore, while domestic institutional investors (DIIs) have net bought shares worth Rs 1,373.02 crore on 25 March 2022, as per provisional data on the NSE.

Buzzing Index:

The Nifty Financial Services index fell 1.19% to 16,418.85. The index shed 3.91% in four trading sessions.

ICICI Prudential Life Insurance Company (down 3.61%), HDFC Life Insurance Company (down 2.61%), HDFC Asset Management Company (down 2.55%), Housing Development Finance Corporation (HDFC) (down 2.31%) and SBI Life Insurance Company (down 2.30%) were the top losers in the Financial Services segment.

Stocks in Spotlight:

Larsen & Toubro lost 0.59%. The Ministry of Defence has signed a contract with Larsen & Toubro (L&T) for acquisition of two multi-purpose vessels (MPVs) for Indian Navy at an overall cost of Rs 887 crore under “Buy-Indian” category. The MPVs will be the first of its kind platform, constructed to provide a cost-effective solution to meet a variety of requirements of Indian Navy.

These vessels, to be built by M/s L&T shipyard at Kattupally (Chennai), will perform multi-role support functions such as maritime surveillance& patrol, launching/ recovery of torpedoes and operation of various types of aerial, surface and underwater targets for Gunnery/ ASW firing exercises. These vessels would also be capable of towing ships and rendering humanitarian assistance & disaster relief (HADR) support with limited hospital ship capability.

Godrej Properties fell 0.50%. The company announced that it has entered into an agreement to develop a 33 acres land parcel in the residential micro-market of Bannerghatta Road in South Bengaluru. The project will have a developable potential of approximately 3.4 million square feet of saleable area with an estimated revenue of approximately Rs 2,000 crore. The agreement is for an outright purchase with 5% area share to the landowners.

Kalyan Jewellers India slipped 0.92%. On Monday, the company announced that the board has approved appointment of Vinod Rai as chairman and independent nonexecutive director of the company. Vinod Rai was the former chair of the United Nations Panel of External Auditors. Rai held various positions within the Indian government as well as in state governments. Vinod Rai's appointment would make him the 8th non-executive director on the Board. Mr Rai has masters degrees both in Economics as well as public administration from Delhi School of Economics and the Harvard Kennedy School, Harvard University, USA, respectively.

Global Markets:

Asian stocks were mixed on Monday as coronavirus lockdown in Shanghai looked set to hit global activity, while throwing another wrench into supply chains that could add to inflationary pressures.

U.S. stock benchmarks closed mostly higher Friday, following choppy trade, after oil prices rebounded on the back of reports of a missile strike on a Saudi Aramco facility and as investors continued to weigh rising interest rates.

New York Fed President John Williams on Friday said he would support a half-point move if justified but indicated it was premature to make a call on the size of a future rate increase.

Sensex, Nifty extend losses; breadth weak. 28March2022

The benchmark indices were trading with modest losses in morning trade, dragged by banks and IT scrips. The Nifty was trading below its 200-day simple moving average placed at 17,042.74.

The barometer index, the S&P BSE Sensex dropped 447.26 points or 0.78% at 56,914.94. The Nifty 50 index lost 115.65 points or 0.67% at 17,037.35.

The S&P BSE Mid-Cap index fell 0.77%. The S&P BSE Small-Cap index slipped 0.88%.

The market breadth, indicating the overall health of the market, was weak. On the BSE, shares 1,016 rose and 2,195 shares fell. A total of 143 shares were unchanged.

Foreign institutional investors (FIIs) have net sold shares worth Rs 1,507.37 crore, while domestic institutional investors (DIIs) have net bought shares worth Rs 1,373.02 crore on 25 March 2022, as per provisional data on the NSE.

Overseas investors have pulled out a net Rs 1,14,855.97 crore from the Indian markets in the current year so far, amid heightened geopolitical tensions and inflation concerns. Foreign portfolio investors have sold domestic equities worth Rs 48,261.65 crore so far this month, taking the year-to-date tally this year to a massive Rs 1,14,855.97 crore, according to depositories data.

Buzzing Index:

The Nifty Bank index fell 1% to 35,056.25. The index skid 3.55% in four trading sessions.

IDFC First Bank (down 2.51%), RBL Bank (down 2.25%), HDFC Bank (down 1.72%), Kotak Mahindra Bank (down 1.52%) and State Bank of India (SBI) (down 1.11%) were the top losers in the Bank segment.

Stocks in Spotlight:

Bharti Airtel rose 1.28%. The telecom major has entered into an agreement to acquire 7.036% stake in Avaada KNShorapur for Rs 1.74 crore as cash consideration. Avaada KNShorapur acts as a Special Purpose Vehicle (SPV) under Avaada Indiclean to develop, execute, manage and run upto 10 MW Solar Power Generation Plant(s) in Karnataka. The objects and effects of the acquisition are to comply with regulatory requirement for captive power plants under the provisions of Electricity Act' 2003 and Indian Electricity Rules' 2005 and procurement of cost-effective renewable energy.

Shares of INOX Leisure soared 13.93% while PVR jumped 5.94%. INOX Leisure, PVR announced a merger in which shareholders will receive 3 shares of PVR in exchange of 10 shares in INOX. The board of PVR and INOX Leisure, at their respective meetings held on Sunday (27 March 2022), approved an all stock amalgamation of INOX with PVR. The amalgamation is subject to approval of the shareholders of PVR and INOX respectively, stock exchanges, SEBI and such other regulatory approvals as may be required.

Upon obtaining all approvals, INOX will merge with PVR. INOX shareholders will receive 3 shares in PVR for 10 shares of INOX. Post the merger, PVR promoters will have 10.62% stake while INOX promoters will have 16.66% stake in the combined entity. The board of the merged company would be re-constituted with total board strength of 10 members and both the promoter families having equal representation on the board with 2 board seats each.

Indices drift lower in early trade. 28March2022

Indices opened tad lower and traded with tiny losses in early trade. The Nifty traded below the 17,150 level. Banks and financial stocks saw selling pressure while media shares rallied.

The barometer index, the S&P BSE Sensex, was down 193.92 points or 0.34% to 57,168.51. The Nifty 50 index lost 28.9 points or 0.17% to 17,124.50.

In the broader market, the S&P BSE Mid-Cap index rose 0.3% while the S&P BSE Small-Cap index gained 0.17%.

Buyers outnumbered sellers. On the BSE, 1385 shares rose and 1194 shares fell. A total of 123 shares were unchanged.

Stocks in Spotlight:

PVR jumped 5.34% while shares of INOX Leisure rallied 12.55% after the board of directors of PVR and INOX Leisure, at their respective meetings, approved an all stock amalgamation of INOX with PVR. INOX shareholders will receive 3 shares in PVR for 10 shares of INOX.

GAIL (India) gained 2.4%. The board of GAIL (India) will consider a share buyback on 31 March 2022.

Dilip Buildcon rose 0.74%. The road construction company on Saturday announced that it has been declared as L-1 bidder for road construction project by the National Highways Authority of India in the state of Telangana.

Global Markets:

Asian stocks were trading mixed on Monday as coronavirus lockdown in Shanghai looked set to hit global activity, while throwing another wrench into supply chains that could add to inflationary pressures.

U.S. stock benchmarks closed mostly higher Friday, following choppy trade, after oil prices rebounded on the back of reports of a missile strike on a Saudi Aramco facility and as investors continued to weigh rising interest rates.

New York Fed President John Williams on Friday said he would support a half-point move if justified but indicated it was premature to make a call on the size of a future rate increase.

Market ends in red; Nifty ends below 17,200. 25March2022

 

The key equity benchmarks ended with modest losses on Friday. The Nifty closed a tad above the 17,150 level. While most sectoral indices on the NSE ended in the red, realty, oil & gas and PSU banks advanced.

The barometer index, the S&P BSE Sensex fell 233.48 points or 0.41% to 57,362.20. The Nifty 50 index lost 69.75 points or 0.40% to 17,153.

Tech Mahindra (down 2.35%), Maruti Suzuki India (down 1.79%), Nestle India (down 1.24%) and Wipro (down 1.18%) were major drags.

In the broader market, the BSE Mid-Cap index fell 0.36% and the BSE Small-Cap index lost 0.33%.

The market breadth, indicating the overall health of the market, was weak. On the BSE, shares 1,256 rose and 2,158 shares fell. A total of 96 shares were unchanged.

Economy:

India's projected economic growth for 2022 has been downgraded by over 2% to 4.6% by the United Nations, a decrease attributed to the ongoing war in Ukraine, with New Delhi expected to face restraints on energy access and prices, reflexes from trade sanctions, food inflation, tightening policies and financial instability, according to a UN report released on Thursday.

The UN Conference on Trade and Development (UNCTAD) report downgraded its global economic growth projection for 2022 to 2.6% from 3.6% due to shocks from the Ukraine war and changes in macroeconomic policies that put developing countries particularly at risk. The report said while Russia will experience a deep recession this year, significant slowdowns in growth are expected in parts of Western Europe and Central, South and South-East Asia.

Numbers to Watch:

The yield on 10-year benchmark federal paper fell to 6.814% as compared with 6.834% at close in the previous trading session.

In the foreign exchange market, the rupee was higher against the dollar. The partially convertible rupee was hovering at 76.22, compared with its close of 76.33 during the previous trading session.

MCX Gold futures for 5 April 2022 settlement fell 0.22% to Rs 51,966.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, declined 0.13% to 98.66.

In the commodities market, Brent crude for May 2022 settlement rose 8 cents at $119.11 a barrel. The contract fell $2.57 or 2.11% to settle at $119.03 a barrel during the previous trading session.

Foreign Markets:

European shares advanced while Asian stocks ended mixed on Friday.

Global markets have been tracking negotiations over Russia's invasion of Ukraine closely, and Thursday saw a host of high-level meetings between world leaders and international bodies.

US President Joe Biden said Thursday that NATO would respond “in kind” if Russia uses weapons of mass destruction in Ukraine. The president spoke after a marathon of summit meetings with the European Union, G-7 partners and NATO allies. Biden also said he would support an effort to expel Russia from the G-20 group of economies.

Buzzing Segment:

The Nifty Consumer Durables index fell 1.96% to 27,017.50. The index has fallen 3.54% in two sessions.

Rajesh Exports (down 3.48%), Titan Company (down 3.38%), Voltas (down 2.14%), Kajaria Ceramics (down 2.01%), Whirlpool of India (down 1.87%) and Dixon Technologies (India) (down 1.11%) tumbled.

Stocks in Spotlight:

Bharti Airtel advanced 0.42%. The telecom company on Friday announced that it has paid Rs 8,815 crore to the Department of Telecom (Government of India) towards part prepayment of deferred liabilities pertaining to spectrum acquired in auction of year 2015. The prepayment is for instalments due in FY 2027 and FY 2028.

In the past four months, Bharti Airtel has settled Rs 24,334 crore of its deferred spectrum liabilities much ahead of scheduled maturities. These liabilities carried an interest rate of 10% and have been paid off through a combination of strong free cash generated by business, equity proceeds and significantly lower cost debt of similar tenor.

Motherson Sumi Systems rose 2.49%. The company announced that it has won an order from Boeing to manufacture and supply aftermarket molded polymer parts for commercial airplane interiors. This is the first order for Motherson from Boeing. The order will commence from Q3 FY23 and will be produced in a Motherson plant situated in Noida, located in the state of Uttar Pradesh in India.

Zen Technologies rose 4.93%. The company has received a Project Sanction Order (PSO) from the Indian Army for design and development of prototype of Integrated Air Defence Combat Simulator (IADCS). The prototype is to be made ready for User Trial Readiness Review (UTRR) within a period of 30 weeks.

Tata Consumer Products fell 0.80%. The company's board will meet on 29 March 2022 to consider raising funds via preferential share sale. The Tata Group firm plans to issue preferential shares equivalent to 1.5% of its paid-up equity capital to a foreign buyer, it said in a stock exchange filing on Thursday.

Multi Commodity Exchange of India (MCX) rose 1.52% after the market regulator Sebi allowed exchanges having a commodity derivative segment to facilitate trading in options on commodity indices. Exchanges will have to seek a prior approval from the market regulator for allowing the same, the Securities and Exchange Board of India (Sebi) said in a circular on Thursday. The move is part of efforts to have more products in the commodity derivatives market.

Atul rose 2.30% to Rs 10,112.10. The company announced buyback of shares worth up to Rs 70 crore from shareholders, excluding promoters. The buyback of shares will be at a price not exceeding Rs 11,000 per equity share through the open market route. Atul's promoters held 45.04% stake as on 18 March 2022.

Vikram Thermo (India) jumped 6.32% after the company said its board will consider bonus share issue on 1 April 2022.