Major benchmark indices are likely to start trading lukewarm, as indicated by the SGX Nifty futures. As of 7:05 a.m., the SGX Nifty March futures were trading at 16,598 – down 30 points from Friday close to home. India’s stock markets, the major indices Sensex and Nifty, closed positively for the fourth day in a row on Friday. The markets witnessed volatile trading with positive bias. The Sensex started the day with over 200 points loss at 55,218.78 points. The index later turned positive rising 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 percent higher than the previous day’s closing price at 55,464.39 points. Earlier, the Sensex fell to an intra-day low of 55,049.95 points.
Gail India
The state-owned gas company has announced a record second interim dividend of 50 percent (Rs 5 per share) for the current fiscal year ending March 31, 2022. The company had previously announced an interim dividend of Rs 4 per share for its current fiscal year. .
Marutic
Founded in July 2015, the premium sub-brand of India’s largest automaker Nexa has sold more than one million vehicles and accounts for nearly 20 percent of total Maruti Suzuki passenger car sales. Maruti wants sub-brand Nexa to contribute a larger part of the turnover.
Pay
The Reserve Bank of India (RBI) has banned Paytm Payments Bank (Paytm PB) from accessing new customers with immediate effect due to certain oversight issues. Furthermore, Paytm has commissioned PB to appoint an IT audit firm to conduct a comprehensive system audit of its IT system.
she-wolf
The pharmaceutical company has received approval from the US FDA for the shortened new drug application Vigabatrin for Oral Solution USP. Annual sales of Vigabatrin are estimated to be approximately $275 million in the US according to December 2021 IQVIA MAT data.
hindalco
ICICI Prudential Mutual Fund has reduced its stake in the company from 3.07 percent to 3.01 percent, by selling 11.81 lakh shares through open market operations, through various schemes.
CESE
The company said the transactions for the sale and transfer of 100 percent of its shares in Surya Vidyut to Torrent Power have been completed. The company and its six subsidiaries had entered into a share purchase agreement with Torrent Power in September 2021 for the sale of 156 MW power plants operated by Surya Vidyut in Gujarat, Rajasthan and Madhya Pradesh. Surya Vidyut was a wholly owned subsidiary of CESC.
SAIL
The company has scheduled its board of directors on March 16 to discuss a proposal for a second interim dividend.
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