Nifty, Sensex will follow global cues on tech stocks and inflation – Weekly closing report
We had mentioned in last week’s closing report that Nifty, Sensex were under pressure due to rising bond yields. The major indices rallied this week and ended with major gains. The trend of the major indices in the week is given in the table:
 
 
On Monday, the indices opened higher and ended with huge gains. On the NSE, there were 1,285 advances, 672 declines and 86 unchanged.
 
Maruti Suzuki sold a total of 1,64,469 vehicles in February 2021, up 11.8% over February 2020 sales of 1,47,110 units. Passenger car sales jumped 6.1% to 1,05,986 units vs. 99,871 units YoY.
 
Tata Motors sold 61,365 units in February 2021 against 40,619 units YoY. Commercial vehicle sales were up 21 percent at 33,966 units against 28,071 units YoY. Passenger vehicle sales were at 27,225 units against 12,430 units YoY. 
 
TVS Motor sold 2,97,747 units in February 2021 against 253,261 units YoY. Two-wheeler sales grew by 21 percent at 2,84,581 vehicles in February 2021 as against 2,35,891 units YoY. 
 
Bharat Dynamics bagged an order worth Rs 372.98 crore for the supply of MRSAM Missile Rear Sections for Indian Air Force deliverables. KEC International has bagged orders worth Rs 1,140 crore across its businesses.
 
On Tuesday, the indices opened higher but were volatile and ended with decent gains. On the NSE, there were 1,160 advances, 724 declines and 86 unchanged.
 
Bharti Airtel acquired 355.45 MHz and 2,300 MHz spectrum for Rs 18,699 crore. Telcos didn't bid for 700 MHz due to high reserve prices. All of the spectrum will enable Airtel to deliver 5G services in the future.
 
Shipping Corporation of India privatisation will move to the second stage after the Department of Investment and Public Asset Management (DIPAM) secretary said multiple expressions of interest were received for the company.
 
Linde India reported reported 91% fall in net profits at Rs 56.80 crore compared to Rs 634.50 crore YoY. Revenue grew 15% YoY to Rs 478 crore from Rs 414.63 crore YoY.
 
BPCL will exit Numaligarh refinery in Assam by selling its entire stake to a consortium of Oil India Ltd and Engineers India Ltd for Rs 9,876 crore.
 
On Wednesday, the indices opened higher and rallied with major gains. On the NSE, there were 1,201 advances, 735 declines and 85 unchanged.
 
Bank of Baroda raised Rs 4,500 crore equity capital through qualified institutional placement.
 
Engineers India was awarded a project by Indian Oil Corporation with an order value of around Rs 600 crore. 
 
Kalpataru Power secured new orders and received notification of award of Rs 1,554 crore.
 
TP Saurya Limited, the wholly-owned subsidiary of Tata Power, has signed a power purchase agreement with Tata Steel to develop a 15 MW solar project at Jamshedpur, Jharkhand.
 
RPP Infra has bagged four orders worth Rs 1,000 crore from various clients. Power Mech has bagged orders worth Rs 734 crore.
 
On Thursday, the indices opened lower and rallied but still ended in the red. On the NSE, there were 1,022 advances, 862 declines and 85 unchanged.
 
Wipro announced that it will acquire Capco, a global management and technology consultancy providing digital, consulting and technology services to financial institutions in the Americas, Europe and the Asia Pacific, for USD 1.45 billion.
 
Jay Shree Tea & Industries will sell its tea estates at Valparai in Tamil Nadu to Jimsam Tea Equipments. The company has received Rs 11 crore already and balance Rs 35 crore to be received.
 
Laurus Labs promoters Satyanarayana Chava and Nagarani Chava have sold shares of the company worth Rs 191.67 crore and Rs 66.04 crore respectively.
 
Hind Rectifiers has secured order of Rs 72.02 crores in February 2021 and Rs. 39.25 crore in the month of March 2021.
 
On Friday, the indices opened lower and continued its decline. On the NSE, there were 533 advances, 1,421 declines and 74 unchanged.
 
PNB Housing Finance and YES Bank have entered into a strategic co-lending agreement to offer convenient and customized retail loans to homebuyers at competitive interest rates. 
 
Indian Bank plans to raise the equity capital of Rs. 4000- crore including premium.
 
Tata Motors’ Jaguar Land Rover sold 2,171 vehicles in the United Kingdom in February 2021 against 2,929 vehicles sold in same month last year.
 
Coal India board approved an interim dividend of Rs 5 per share of the face value of Rs 10 per equity share.
 
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