Better global sentiment is expected to boost local markets on Friday. As of 7:05 a.m., the SGX Nifty indicated a gap-up start, trading at 17,144 levels, up more than 100 points.
A relief surge delighted US markets overnight as a consortium of banks said it would assist First Republic with $30 billion in deposits. The Dow Jones, NASDAQ Composite, and S&P 500 indexes all gained up to 2%.
The Nikkei 225, Topix, Kospi, Kosdaq, and S&P 200 indexes all rose up to 0.9% this morning in Asia-Pacific markets.
Meanwhile, here are a few stocks anticipated to move on Friday:
TCS: Rajesh Gopinathan, Managing Director and Chief Executive Officer, resigned from his position to pursue other interests. Having almost 22 years of firm experience, the board granted his request to be released from his roles. K Krithivasan, CEO-designate, will take over immediately.
Glenmark Pharma: The pharma giant has received clearance from the US Food and Drug Administration to begin a phase 1/2, first-in-human study for an experimental novel medicine targeted at treating patients with advanced malignancies.
Patanjali Foods: Following stock exchanges freezing shares of its promoters, the business said that the decision will have no effect on the company’s operations and that they aim to begin the process of making a follow-on public offering in April to expand public ownership to 25%.
Vodafone Idea: CARE Ratings updated the outlook on Vodafone Idea (Vi) bank facilities to “positive” from “stable”. It also confirmed its “B+” grade for debentures and long-term loans. The prognosis was upgraded in anticipation of infusing stock and obtaining long-term loans from banks.
Dr. Reddy’s has reached an agreement with Eris Lifesciences to sell some non-core dermatological brands for Rs 275 crore. According to IQVIA moving annual turnover (MAT) figures for December 2022, the sold portfolio generated Rs 60 crore in sales.
DLF: The real estate company had pre-formal launch sales of more than Rs 8,000 crore for its premium high-rise, The Arbour, in only three days. Because of the huge demand for high-end residences, the firm will concentrate on luxury and ultra-luxury housing.
Voltas: The company’s subsidiary, Universal MEP Projects & Engineering Services, has received various SITC project contracts totaling Rs 1,770 crore in the Electrical Power Distribution industry for FY22–23, including a solar power project.
Adani Transmission: The business formed a wholly-owned subsidiary called ‘Adani Electricity Aurangabad.’ It was formed in order to get a parallel distribution license in Aurangabad. The firm has yet to begin operations.
Zensar Technologies: The business opened the Zensar Learning Academy in Pune, India. The academy’s goal is to offer upskilling and particularly selected programs that combine product engineering, coding, design thinking, and client-centric problem-solving solutions.
Tiger Logistics: The company won a government contract to build a paper mill for bank notes, which will help the company run.Moving forward, the organization intends to improve its position in handling logistics for the government to handle significant business.
GNFC and Indiabulls Home Finance were prohibited under the F&O prohibition period on Friday, March 17.
