Stock market news that you should not miss today

21 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 @17,000, resistance at 17,650.
• FIIs bought shares worth Rs2800.14cr (cash), sold Rs678.45cr in index futures.
• US markets close higher. Asian Markets open in the green.
• Brent crude was trading 2.82% higher at $110.97 per barrel.
• Cerebra Integrated Technologies: The company has executed a Share Transfer Agreement with a potential purchaser from Dubai for transfer of its entire shareholding of 86.5% in subsidiary Cerebra Middle East FZCO, Dubai. The company would like to focus on E waste management now being the core business of the company. Cerebra will plan expansion in the said area.
• KEI Industries: Smallcap World Fund, Inc acquired 6.4 lakh equity shares in the company via open market transactions on March 16. With this, its shareholding in the company stands at 5.02%, up from 4.31% earlier.
• Granules India: The company also received licenses from Medicines Patent Pool (MPP) to manufacture and market generic versions of Pfizer’s oral treatment nirmatrelvir. This drug will be co-packaged with ritonavir for treatment of COVID-19. The licenses are applicable for both active pharmaceutical ingredients (API) and finished products, in tablet form, of nirmatrelvir; ritonavir.
• NBCC (India): The company has received a work order from the Administration of Union Territory of Ladakh, for providing comprehensive, design, engineering and project management consultant (PMC) services for various works. The estimated cost of the project is Rs500 crore.
• HDFC: Subsidiary HDFC Capital Advisors Limited (HCAL) has entered into a share subscription agreement for acquisition of 3,90,666 equity shares of Loyalie IT-Solutions.
• Gujarat Industries Power Company: The company has stopped power generation from its 145 MW combined cycle power plant, gas-based station-I at Vadodara, due to increasing price of natural gas after the beginning of Ukraine-Russia war. This plant uses natural gas as its fuel for generation of power. The company may resume operations once the gas prices are back to normal levels.
• EIH: The board has approved the sale of the entire shareholding in subsidiary EIH Flight Services, Mauritius for MUR 325 million (Rs55.2 crore).