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Stock Market Today: All You Need To Know Going Into Trade On March 29

Stocks in the news, big brokerage calls of the day, complete trade setup and much more!

<div class="paragraphs"><p>(Source:&nbsp;<a href="https://unsplash.com/@kaufmann_mercantile?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Kaufmann Mercantile</a> on <a href="https://unsplash.com/photos/a7Woj8W6J0s?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Unsplash</a>)</p></div>
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Chinese technology shares are set to rally Wednesday as a reorganization of Alibaba provides a bright spot in Asian stocks following a decline in U.S. equities.

On the other hand, a slide in technology shares halted a three-day advance in U.S. stocks as investors continued to recalibrate bets on the Federal Reserve’s path forward on interest rates.

The Nasdaq 100 slumped 0.5% — paring a March advance to 4.7% — with tech stalwarts from Apple Inc. to Alphabet Inc. among the biggest drags.

Meanwhile, U.S. consumers appear to have shrugged off the bank failures, with the latest consumer confidence figures unexpectedly higher in March.

Meanwhile, the yield on 10-year treasuries were trading at 3.56%. Crude prices rose to $79-mark, while Bitcoin was hovering around 27,000-level.

At 5:52 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was up 0.03% at 16,996.

Indian benchmark index Sensex closed 0.07% lower, while the Nifty declined 0.2% as gains in banking and metal stocks were offset by losses in realty, telecom and utilities stocks.

The Indian rupee strengthened against the U.S. dollar for the second day in a row, tracking weakness of the foreign unit in overseas markets.

Foreign institutional investors mopped up stocks worth Rs 1,531.1 crore during the day. On the other hand, domestic institutional investors turned net sellers snapping their 13-day buying streak and sold stocks worth Rs 156.1 crore, the NSE data showed.

Stock Market Today: All You Need To Know Going Into Trade On March 29
Opinion
Stocks Slide As Treasuries Edge Lower; Dollar Dips: Markets Wrap

Stocks To Watch

  • Vedanta: The company approved the fifth interim dividend of Rs 20.5 per share for the current fiscal, with a total outgo of Rs 7,621 crore. The record date for the dividend is April 7. Meanwhile, Ajay Goel, the acting CFO of the company, has resigned with effect from April 9.

  • Tata Power: Company has proposed to set up a high voltage 400 KV line corridor for Mumbai to the state electricity regulator. The proposed transmission line aims to cater to the city’s growing electricity demand by increasing its power capacity.

  • Larsen & Toubro: The company issued 2 lakh non-convertible debentures to raise Rs 2,000 crore. The bonds will mature on April 28, 2028.

  • GR Infraprojects: The company received letter of acceptance from East Coast Railway for a project worth Rs 587.59 crore for construction of tunnel work between Adenigarh-Purunakatak and allied works of Khurda-Bolangir new rail line project.

  • NBCC (India): The company received two work orders, jointly worth Rs 146.39 crore, from SIDBI and Ghani Khan Choudhary Institute of Engineering and Technology.

  • Jindal Stainless: The company will acquire 49% stake in Indonesia-based nickel pig iron company New Yaking Pte. Ltd. for $157 million (Rs 1,289.8 crore).

  • JSW Energy: JSW Neo Energy, a wholly owned subsidiary of the company, will acquire additional 12 special purpose vehicles of Mytrah Energy (India) for Rs 1.82 crore.

  • Aster DM Healthcare: The company acquired additional 1.87% stake in subsidiary Malabar Institute of Medical Sciences for a cash consideration of Rs 18.65 crore, taking its overall shareholding to 76.01%.

  • Adani Transmission/REC: REC Power Development & Consultancy, a wholly owned subsidiary of REC, has transferred the entire shareholding of Khavda II·A Transmission to the successful bidder, Adani Transmission.

  • Zydus Lifesciences: The company received final approval from U.S. FDA for Loperamide Hydrochloride capsules, the generic version of Imodium capsules.

  • Inox Wind Energy: The board approved transfer of the company’s wind energy business to its holding company Inox Leasing and Finance in a slump sale for a consideration of Rs 17 crore.

  • Britannia Industries: The board of the company will meet on April 4 to consider and approve an interim dividend for the current financial year.

  • NHPC: The board approved raising Rs 5,600 crore during the fiscal ending March 2024 via corporate bonds and/or term loans or external commercial borrowings.

  • RHI Magnesita: The board of the company will meet on April 1 to consider raising Rs 200 crore via preferential issue of shares.

  • DCB Bank: The company issued and allotted 300 Tier II bonds of Rs 1 crore each, aggregating to Rs 300 crore.

  • DB Corp: The company appointed Lalit Jain as chief financial officer, with effect from April 1, 2023, in place of Pradyumna Mishra, who is retiring from close of business hours on March 31, 2023.

  • Apollo Tyres: The company will incorporate a wholly owned subsidiary to create an online direct to customer platform for offering passenger vehicle aftermarket services.

  • South Indian Bank: The bank will constitute a search committee to identify candidates for the position of MD and CEO after Murali Ramakrishnan requested not to be re-elected for the position.

Opinion
Essential Drugs To Get Costlier With Biggest Ever Hike

Block Deals

  • Steel Authority of India: Santosh Bhajanka bought 20 lakh shares (0.05%), Sajjan Bhajanka sold 20 lakh shares (0.05%) at Rs 81 apiece.

  • Bajaj Finserv: Anant Bajaj Trust bought 4.05 lakh shares (0.04%), Geetika Shekhar Bajaj Trust sold 4.05 lakh shares (0.04%) at Rs 1,235 apiece.

Opinion
Alibaba Splits Into Six, Plans New IPOs In Historic Overhaul

Bulk Deals

  • Kalyan Jewellers India: Highdell Investment sold 2.33 crore shares (2.26%) at Rs 110.04 apiece.

  • India Glycols: Abhishek Khaitan bought 2.04 lakh shares (0.66%) at Rs 582.27 apiece.

  • Shalby: Equity Intelligence India bought 6.1 lakh shares (0.56%) at Rs 117 apiece.

  • Shilpa Medicare: India Opportunities Growth Fund sold 5 lakh shares (0.58%) at Rs 225.3 apiece.

  • CE Info Systems: Zenrin sold 8 lakh shares (1.49%) at Rs 1,000.05 apiece.

Opinion
Wait For Exchanges To Update Data At Quarter-End, Says Adani CFO On Promoter Pledge

Who’s Meeting Whom

  • BLS International: To meet investors and analysts on March 29.

  • Praj Industries: To meet investors and analysts on March 29.

Opinion
Licences Of 18 Pharma Firms Cancelled For Manufacturing Spurious Drugs: Sources

Trading Tweaks

  • Price Band Revised From 20% To 5%: Mirza International

  • Ex-Date Interim Dividend: Hindustan Zinc, SBI Cards and Payment Services

  • Record Date Interim Dividend: Hindustan Zinc, SBI Cards and Payment Services

  • Ex-Date Spin Off: Mirza International

  • Record Date Spin Off: Mirza International

  • Ex-Date Right Issue of Equity Shares: SEPC

  • Record Date Right Issue of Equity Shares: SEPC

  • Ex-Date Buy Back of Shares: Symphony

  • Record Date Buy Back of Shares: Symphony

  • Ex-Date Demerger: Mirza International

  • Record Date Demerger: Mirza International

  • Move Into Short-Term ASM Framework: GRM Overseas

Opinion
Fed’s Bullard Says Rates Hikes Are Directed at Inflation, Not Bank Stress

Insider Trading

  • Hindustan Aeronautics: Promoter President of India acting through Government of India sold 1.17 crore shares on March 24.

  • Bhansali Engineering Polymers: Promoter & director Jayesh B. Bhansali bought one lakh shares on March 27.

  • Max Financial Services: Promoter Max Ventures sold 14.99 lakh shares on March 22.

  • Bajaj Holdings & Investment: Promoter group Hercules Hoist bought 16,576 shares between March 23-24.

  • Greaves Cotton: Promoter Karuna Carpets bought 77,800 shares on March 27.

  • Som Distilleries & Breweries: Promoter Jagdish Kumar Arora bought 25,000 shares and Deepak Arora bought 10,000 shares between March 27-28.

  • Jai Corp: Promoter Ruchi Jain Hanasoge bought 2,01 lakh shares and promoter NK Trust bought one lakh shares between March 24-27.

  • Confidence Petroleum India: Promoter group confidence LPG Bottling bought 11.40 shares between March 27-28.

  • NRB Bearing: Promoter & director Harshbeena Zaveri bought 21,243 shares on March 27.

  • Zydus Wellness: Promoter Zydus Family Trust bought 9,066 shares on March 27.

  • Sobha: Promoter Puthan NC Menon bought 40,000 shares on March 27.

  • Shankara Building Products: Promoter group Dhananjay Mirlay Srinivas bought 10,000 shares on March 27.

  • Star Cement: Promoter group Yash Bala Bhajanka bought 2 lakh shares, promoter & directors Prem Kumar Bhajanka bought 18 lakh shares, promoter group Rahul Chamaria sold 8.25 lakh shares and Sachin Chamaria sold 8 lakh shares on March 23.

  • Godrej Agrovet: Promoter group Tanya Dubash bought 1.22 lakh shares and Tad Family trust sold 1.22 lakh shares on March 24.

  • MTAR Technologies: Promoter Kavitha Reddy Gangapatnam sold 93,320 shares on March 24.

  • KCP: Promoter VL Indira Dutt bought 2,000 shares on March 27.

Opinion
IRDAI Caps Expenses For General, Health Insurers

Pledge Share Details

  • India Cements: Promoter group EWS Finance & Investments created a pledge of 47 lakh shares on March 24.

Opinion
Supreme Court Dismisses Customs Department's Plea Against Adani Power

F&O Cues

  • Nifty March futures ended at 16,977.70 a discount of 59.70 points.

  • Nifty March futures fell 31.51% and 59,821 shares in Open Interest.

  • Nifty Bank March futures ended at 39,632 a premium of 145.60 points.

  • Nifty Bank March futures fell 23.56% and 18,383 shares in Open Interest.

  • Securities added to the ban period: Nil

  • Securities removed from the ban period: Nil

Stock Market Today: All You Need To Know Going Into Trade On March 29
Opinion
FPIs Snap Three-Day Selling Spree To Turn Net Buyers

Money Market Update

  • Rupee closed 0.22% higher against the U.S. dollar at 82.19 on Tuesday, compared to Tuesday’s close of 82.37.

Opinion
Three Key Sectoral Bets For Manishi Raychaudhuri Of BNP Paribas

Research Reports

Opinion
Five Stocks That Doubled Investor Wealth In The Past One Year

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