The SGX Nifty50 futures contract fell 2.1 per cent to 15,896 points as of 6:55 am on Monday, indicating the possibility of heavy selling at home. Bears continued to dominate Dalal Street for the third consecutive session, with benchmark indices falling nearly 1.5 per cent on March 4, following a continuing uptick in the Ukraine-Russia war and rising oil prices. Selling was witnessed in all sectors except IT, where banks, auto, financial services, FMCG, and metals were the major losers.
The BSE Sensex fell 769 points to 54,334, while the Nifty 50 fell 253 points to end at 16,245. During the week, the index fell 2.5 percent and formed a bearish candle on the weekly scale.
Nazara Technologies
The mobile gaming company said that its board has approved issuance of equity shares of Rs 25 crore to the existing shareholders of Datawrkz Business Solutions. These shares will be issued on a preferential basis at a price of Rs 2,260 per share. After the completion of this acquisition, the company will have 33 per cent equity stake in Dataworks Business Solutions Pvt Ltd. In addition, the company will invest up to Rs 30 crore in its subsidiary Next Wave and through subscription in equity shares. The stock has lost 17 per cent in the past one month.
3i Infotech
The company has received a work order from Rajasthan State Pollution Control Board (RSPCB) for design, development, implementation and maintenance of Integrated e-Governance Solution 2.0 for Rajasthan State Pollution Control Board. The total contract value is Rs 12.85 crore. The stock was closed in its upper circuit on March 4 but has lost 31 per cent in the last one month.
Coal India
Subsidiary BCCL reported a record 61 per cent increase in its production in February this year to 3.24 million tonnes (MT) compared to the corresponding month of the previous financial year, a company statement said.
Nestle India
The Board of Directors of the Company has revised the date of 63rd Annual General Meeting to 12th April, 2022. Consequently, the record date for the purpose of determining the eligibility of members for the final dividend for the year 2021 is April 22, 2022. If approved by the members at the Annual General Meeting, it will be paid on and from May 6, 2022.
Tube Investments of India
The firm’s subsidiary acquired 70 per cent stake in Celestial E-Mobility.
aviation stock
Oil prices are likely to rise and this will affect airlines like Indigo, SpiceJet.
oil stock
Oil marketing companies like ONGC, IOCL are likely to benefit from rising crude oil prices.
March-March
SBI Funds Management acquired 4.5 per cent stake in the retail company through open market transactions on March 3 through various schemes. With this, its stake in the company has gone up to 8.76 per cent as against 4.2 per cent. The stock has gained 20 per cent in the past one year but lost 9 per cent in the past month.
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