Standard Surfactants | Dhirendra Kumar Gupta has resigned from the position of Chief Financial Officer of the company.
The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index in India with a 63 points gain.
The BSE Sensex rallied 584.41 points, or 1.16 percent, to 51,025.48 on March 9 while the Nifty50 was up 142.20 points, or 0.95 percent, at 15,098.40. According to pivot charts, the key support levels for the Nifty are placed at 14,973.67, followed by 14,848.93. If the index moves up, the key resistance levels to watch out for are 15,174.97 and 15,251.53.
Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:
US stocks rallied on Tuesday, with the Nasdaq gaining about 4% to recoup heavy losses from the previous session as US bond yields retreated and investors scooped up battered technology stocks.
The Dow Jones Industrial Average rose 30.3 points, or 0.10%, to 31,832.74, the S&P 500 gained 54.09 points, or 1.42%, to 3,875.44 and the Nasdaq Composite added 464.66 points, or 3.69%, to 13,073.83.
Asian stocks set to track US gains on Wednesday, as falling bond yields eased concerns about surging inflation, although focus will shift to Chinese markets amid worries about policy tightening in the world’s second-largest economy.
Australia’s S&P/ASX 200 index rose 0.47% in early trading. Japan’s Nikkei 225 futures added 0.07%, Hong Kong’s Hang Seng index futures rose 1.17%.
Trends on SGX Nifty indicate a positive opening for the index in India with a 63 points gain. The Nifty futures were trading at 15,223 on the Singaporean Exchange around 07:30 hours IST.
Vaccines, US stimulus boost global GDP forecast: OECD
The OECD sharply raised its 2021 global growth forecast on Tuesday as the deployment of vaccines and a huge US stimulus programme have greatly improved economic prospects. The Paris-based Organisation for Economic Co-operation and Development says it now expects the global economy to grow by 5.6 percent, an increase of 1.4 percentage points from its December forecast.
"Global economic prospects have improved markedly in recent months, helped by the gradual deployment of effective vaccines, announcements of additional fiscal support in some countries, and signs that economies are coping better with measures to suppress the virus," it said in a report.
E-invoice mandatory for business with over Rs 50 crore turnover from April 1
The government has made it mandatory for businesses with over Rs 50 crore turnover to generate e-invoices for B2B transactions from April 1. Under Goods and Services Tax (GST) law, e-invoicing for business-to-business (B2B) transactions has been made mandatory for companies with turnover of over Rs 500 crore and Rs 100 crore from October 1, 2020, and January 1, 2021, respectively.
E-invoicing will be extended to companies with turnover over Rs 50 crore from April 1, the Central Board of Indirect Taxes and Customs (CBIC) said in a notification. Under e-invoicing, taxpayers have to generate invoices on their internal systems (ERP/accounting/billing software) and then report them online to the Invoice Registration Portal (IRP).
Loans to real estate developers see an 81% increase on improvement in housing sales
There was a 81 percent year-on-year increase in the number of loans sanctioned to real estate developers during the December quarter of 2020, and an almost 180 percent growth in the sanctioned loan amount at Rs 37,921 crore, showed data shared by Propstack.
With housing sales picking up on the back of record-low home loan rates and stamp duty cuts in many states, several developers have considered refinancing their existing loans. Banks too have come forward to lend on account of increased cashflows for some developers, the real estate data analytics firm said.
Paras Defence and Space Technologies files DRHP with Sebi for IPO
Mumbai-based Paras Defence and Space Technologies has filed draft red herring prospectus with the capital market regulator for its initial public offering (IPO).
The public issue will comprise a fresh issue of Rs 120 crore and an offer for sale of 17,24,490 equity shares by promoter and individual selling shareholders.
Life insurance companies see 21% rise in new business premium to Rs 22,425 crore in February
Life insurance companies registered a 21 percent rise in new business premium to Rs 22,425.21 crore in February 2021, according to data from insurance regulator IRDAI. The 24 life insurance companies in the country had their collective new business premium of Rs 18,533.19 crore in the same month a year ago.
Among these, the country’s largest and the only state-run insurer LIC posted a 24.18 percent jump in new premium income at Rs 12,920.57 crore during the reported month, against Rs 10,404.68 crore in the year-ago month, showed the data from the Insurance Regulatory and Development Authority of India (IRDAI).
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 2,801.87 crore, while domestic institutional investors (DIIs) net acquired shares worth Rs 1,250.22 crore in the Indian equity market on March 9, as per provisional data available on the NSE.
4 stocks under F&O ban on NSE
Bank of Baroda, Punjab National Bank, SAIL and Sun TV Network are under the F&O ban for March 10. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.With inputs from Reuters & other agencies