Benchmark equity indices recorded a fourth week of gains, hitting fresh record highs. On Thursday, the BSE Sensex gained 33.40 points or 0.045 per cent to settle at 74,119.39. The NSE Nifty50 gained 19.50 points or 0.087 per cent to close at 22,493.55. Most sectors traded in green with maximum gains in Banks, Metals, and Energy, while, Media, IT, and healthcare ended the week in red. Stock markets were closed on Friday for Mahashivratri.
"Amidst mixed signals from the global market, the domestic market exhibited a range-bound movement but concluded on a positive note. Expectations of a rate cut from the Fed and declining bond yields prompted rational investors to shift towards equities, bolstering the market,” said Vinod Nair, head of research at Geojit Financial Services.
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“The release of US payroll data and upcoming inflation data from the US, China, and India next week will provide investors with insights into the global macroeconomic outlook. We expect volatility to persist in the upcoming week due to high valuations and forthcoming policy rate guidance releases," he added.
Here are the key stocks to watch on 11 March:
InterGlobe Aviation
IndiGo co-founder Rakesh Gangwal is looking to sell up to a 5.8 per cent stake in the aviation company, higher than the earlier plan of 3.3 per cent, according to a CNBC-TV18 report. The proposed equity sale aims to raise around Rs 6,600 crore, with a floor price set at Rs 2,925 per share.
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JM Financial
SEBI has barred JM Financial from taking on any new mandate to act as a lead manager to the public issue of debt securities over its NBFC arm JM Financial Products’ irregularities. However, the company can continue to manage issues that it has signed to execute for the next 60 days.
Vedanta
Anil Agarwal-led Vedanta Ltd on Thursday said it has received an administrative warning from the SEBI, regarding the disclosures made for its parent company. The company has been directed to take necessary corrective steps to strengthen its internal control for corporate announcements. The company said the warning has no financial implications.
Rail Vikas Nigam Limited
The state-run railway company has received two letters of award from Himachal Pradesh Electricity Board for the development of distribution infrastructure at the South zone, and North zone of Himachal Pradesh under the revamped reforms-based and results-linked, distribution sector scheme. The total cost of the projects is valued approximately at Rs 888 crore and Rs 410 crore, respectively.
Torrent Power
The power company has received a letter of award from Maharashtra State Electricity Distribution Company for setting up 306 MW grid-connected solar PV projects in Nasik. The LoA is worth Rs 1,540 crore for the supply of 306 MW of solar power, under the PM Kusum scheme.
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