Stock market news that you should not miss today

3 Mar 2022 , 07:58 AM

Here is the important stock market news to watch out for today.

• Markets to open on a positive note; support @16,350, resistance at 16,850.
• FIIs sold shares worth Rs4338.94cr (cash), bought Rs3061.7cr in index futures.
• US markets closed higher. Asian Markets opened in the green.
• Brent crude was trading 3.13% higher at $116.46 per barrel.
• Vedanta: The board has approved a third interim dividend of Rs13 per equity share for the financial year 2021-22. The total outflow for dividends will amount to Rs4,832 crore. The record date for payment of dividends is fixed as March 10.
• ABB India: The company completed the sale of its turbocharger business to Turbocharging Industries and Services India, as a going concern, on a slump sale basis to its wholly owned subsidiary for Rs310 crore. In January this year, it had incorporated a wholly owned subsidiary – Turbocharging Industries and Services India.
• Wipro: The Bengaluru-based IT services firm has introduced a cloud car platform for software-defined vehicles.
• UPL: The fertilizer maker has approved a buyback proposal for 12,571,428 shares at Rs875 per share. The aggregate amount of Rs1,100 crore represents 14.56% and 5.71% of its total paid-up share capital and free reserves, respectively, as on March 31, 2021.
• Sterlite Technology: Launched an industry-first end-to-end 5G enterprise solution to address the growing demand for private 5G enterprise connectivity for campus, industrial and venue applications.
• Punjab and Sind Bank: To consider the preferential issue of equity shares to the Government of India worth up to Rs4,600 crore on March 31.
• Suzlon Energy: The wind turbine maker has received a Rs 4,050 -crore loan from REC-led group for debt recast.
• Tube Investments: Tl Clean Mobility allotted 9.95 crore equity shares worth Rs 10 each to the company.
• Swan Energy: The firm said the board on March 5 will consider fundraising of up to Rs2,000 crore.
• Tantia Constructions: The company has bagged an Rs42.2 crore contract from South Eastern Railway for the construction of a major bridge between Basta and Rupsa.
• Hind Rectifiers: The electrical equipment manufacturer has received orders worth Rs57.32 crore in February 2022.
• Valiant Communications: Investor Duane Park acquired 1.21 percent equity shares in the company via open market transactions. With this, its shareholding in the company stands at 10.35% now, against 9.14% earlier.
• Mukand: The stainless steel company has sold its land in Thane for Rs806.14 crore. It has executed an agreement for the sale of said land of 47 acres.