After two days of losses, domestic markets are poised to stabilize in Tuesday’s trading session. The SGX Nifty was trading at 17,208 points as of 7:45 a.m., up 28 points.
Internationally, the US markets were mixed overnight as a result of the repercussions from Silicon Valley Bank. As the Dow Jones and the S&P 500 lost up to 0.2%, the NASDAQ Composite surged 0.4%.
Asia-Pacific markets, on the other hand, bled this morning, with the Nikkei 225, Topix, Kospi, Kosdaq, and S&P 200 all falling up to 3.5%.
Meanwhile, here are a few stocks that are anticipated to move on Tuesday:
Embassy Office Parks REIT: According to the firm, it has invested more than Rs 300 crore in green efforts throughout its commercial developments. They just completed the first phase of a 20 megawatt (MW) solar rooftop project that promises to produce 30 million units of solar electricity.
PNB Home Finance: The business has acquired Sebi authorization to fund up to Rs 2,500 crore via a share rights offering. The net proceeds of the offering will be used to increase the company’s capital base.
Shriram Finance: The business plans to raise up to $2.4 billion to fuel its expansion in the next fiscal year, which begins in April. The company’s management said that it intends to increase its assets under management (AUM) by 15% in fiscal 2024, to roughly Rs 1.9 trillion–2 trillion.
Lupin: The US Food and Drug Administration (USFDA) performed an investigation of Lupin’s Bioresearch Institute in Pune, India, and concluded with no findings. The Lupin Bioresearch Centre undertakes BA/BE, PK/PD, in-vitro BE, and biosimilar research.
GAIL (India): The state-owned company has announced an interim dividend of 40% on the paid-up equity share capital, equal to Rs 4 per share, with a record date of March 21, 2023. Based on existing holdings, the government would get Rs 1,355 crore in dividends, while shareholders would receive Rs 1,275 crore.
CreditAccess Grameen: CreditAccess Grameen has reached the Rs 20,000 crore AUM milestone. The management team is optimistic about achieving 24-25% AUM growth in FY23, 4.4% ROA, and 16-18% ROE. Moreover, they want to establish 34 new locations by March 31, 2023.
Axita Cotton: The firm received a $2.72 million contract from Taraspinning Mills in Bangladesh and Khadiza Sadek Spinning Mills in Bangladesh for Indian raw cotton.
Surya Roshni: The business received an order from HPCL for the delivery of 3LPE-coated steel pipes for city gas distribution projects in Rajasthan, Bihar, Jharkhand, and West Bengal for Rs 96.3 crore.
Dhanlaxmi Fabrics: The company’s management has decided to carry out major structural renovations on its 30-year-old factory building, as well as technological advancement and upgradation of its plant and equipment installed and located at its Dombivali unit, including the installation of a BOD and COD online meter.
Stocks subject to the F&O prohibition: On Tuesday, March 14, only GNFC was subject to the F&O restriction.
