The key benchmark indices are likely to start trade on a tepid note as indicated by the SGX Nifty futures. As of 07:05 AM, the SGX Nifty March futures quoted at 16,598 – down 30-odd points when compared with Friday’s close back home. The Indian equities markets key indices Sensex and Nifty closed in the positive for the fourth straight day on Friday. The markets witnessed volatile trading with a positive bias. The Sensex started the day with over 200 points of loss at 55,218.78 points. The index later turned positive surging to a high of 55,833.95 points. The S&P BSE Sensex closed the day at 55,550.30 points, which is 85.91 points or 0.15 per cent higher from its previous day’s close at 55,464.39 points. Earlier the Sensex slipped to a low of 55,049.95 points in the intra-day.
Gail India
The state-owned gas utility company declared a record second interim dividend of 50 per cent (Rs 5 per share) for the current fiscal year ending March 31, 2022. The company had earlier declared an interim dividend of Rs 4 per share for the current fiscal.
Maruti
The premium sub-brand of India’s largest car-maker Nexa, established in July 2015, has sold well over a million cars and contributes almost 20 per cent of the total Maruti Suzuki passenger vehicle sales. Maruti wants sub-brand Nexa to contribute a larger share of the top line.
paytm
The Reserve Bank of India (RBI) has barred Paytm Payments Bank (Paytm PB) from onboarding new customers with immediate effect because of certain supervisory concerns. Furthermore, it has directed Paytm PB to appoint an IT audit firm for conducting a comprehensive system audit of its IT system.
Lupin
The pharma company has received approval from the US FDA for the abbreviated new drug application Vigabatrin for oral solution USP. The annual sales for Vigabatrin is estimated to be around $275 million in the US as per IQVIA MAT data of December 2021.
Hindalco
ICICI Prudential Mutual Fund has reduced its stake in the company from 3.07 per cent to 3.01 per cent, by selling 11.81 lakh equity shares via open market transactions, through its various schemes.
CESSATION
The firm said transactions for sale and transfer of 100 percent shareholding in Surya Vidyut to Torrent Power have been completed. The company and its six subsidiaries had entered into share purchase agreement with Torrent Power for sale of 156 MW power plants operated by Surya Vidyut in Gujarat, Rajasthan and Madhya Pradesh, in September 2021. Surya Vidyut was a wholly-owned subsidiary of CESC.
SAIL
The company has scheduled its board meeting on March 16 to consider a proposal for second interim dividend.
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