Stock market news that you should not miss today

10 Mar 2022 , 07:50 AM

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

• Markets to open on a positive note; support @16,000, resistance at 16,700.
• FIIs sold shares worth Rs4818.71cr (cash), bought Rs3275.94cr in index futures.
• US markets closed lhigher. Asian Markets opened in the green.
• Brent crude was trading 1.05% higher at $112.31 per barrel.
• PNB Housing Finance has approved fundraising of up to Rs2,500 crore through a rights issue.
• Biocon: CRISIL has placed its ‘AA+’ rating on the long-term bank facilities of the company on ‘Watch with Developing Implications’, after the acquisition of biosimilar assets of US-based Viatris Inc by its subsidiary Biocon Biologics for $3.33 billion. The rating on the short term bank facilities has been reaffirmed at ‘A1+’.
• Gufic Biosciences entered the cancer immunology segment by undertaking research collaboration with Australia-based biotechnology company Selvax Pty Ltd.
• NTPC said 660 MW unit-3 of its subsidiary Nabinagar Power Generating Company has successfully completed trial operation. And consequently the same has been included in the installed capacity of NTPC Group. With this, the total installed capacity of Nabinagar Power Generating Company and NTPC group has become 1,980 MW and 68,567.18 MW, respectively.
• Bharti Airtel has entered into an agreement to acquire a 9% equity stake in Avaada CleanTN Project Private Limited, a special purpose vehicle. This SPV is formed for owning and operating the captive power plant.
• Arvind said its operations have fully resumed at the Ankur unit. Operations at the Ankur unit had been disrupted due to disconnection of the effluent discharge connection. As a result, its revenue and EBIDTA have been reduced by approximately Rs40 crore and Rs10 crore respectively. The unit had contributed 5 percent of the consolidated revenue and 6 percent of the consolidated EBIDTA of the company for FY21.