Stock market news that you should not miss today

28 Mar 2022 , 07:55 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 17,500.
• FIIs sold shares worth Rs1507.37cr (cash), bought Rs1373.02cr in index futures.
• US markets close mixed. Asian Markets opened in the red.
• Brent crude was trading 2.46% lower at $117.68 per barrel.
• PVR and INOX: Top multiplex players on March 27 announced merger after the Board of Directors of PVR Limited and INOX Leisure Limited at their respective meetings, approved an all-stock amalgamation of INOX with PVR.
• Wipro: Board approves interim dividend. The board approved an interim dividend of Rs5 per equity share of par value Rs 2 each for the financial year 2021-22.
• GAIL (India): The state-owned natural gas distribution company on March 31 will consider the proposal of buy back of the fully paid-up equity shares.
• Adani Enterprises: Subsidiaries Mahanadi Mines and Minerals Private Limited, and MP Natural Resources Private Limited are declared as successful bidders for coal blocks – Bijahan and Gondbahera Ujheni East coal block in Odisha and Madhya Pradesh respectively, by Government of India. The revenue sharing with government will be 14 percent for Bijahan coal block and 5 percent for Gondbahera Ujheni East coal block.
• Bharti Airtel: The telecom operator will acquire around 4.7% stake in Indus Towers from Euro Pacific Securities, an affiliate of Vodafone Group Plc, at a price of Rs187.88 per share. The total transaction cost stands at Rs2,388.06 crore.
• Fino Payments Bank: The Reserve Bank of India has granted approval for referring customers of Fino Payments Bank to Finwizard Technology (FISDOM) for mutual fund distribution, and 5paisa Capital for demat & trading services under referral arrangement.
• Zomato: Completed investment in Mukunda Foods. The food delivery giant has completed the investment in Mukunda Foods by way of subscription of 13,289 Series B 1 compulsorily convertible preference shares (CCPS) and 10 equity shares.
• GR Infraprojects: The company has emerged as L-1 bidder for road project comprising upgradation to four lane with paved shoulder of NH-341 from Bhimasar to Anjar – Bhuj in Gujarat on Hybrid Annuity Mode. The bid cost of the project is Rs1,085 crore and the said project is going to be completed within 730 days from appointed date.
• Emami: The company has acquired ‘Dermicool’, one of the leading brands in prickly heat powder and cool talc category, from Reckitt Benckiser Healthcare (India). The acquisition cost stood at Rs432 crore which is funded through internal accruals.
• Sagar Cements: The board has approved the issuance of 1,32,07,548 equity shares to PI Opportunities Fund, an affiliate of Premji Invest, an investment arm of Azim Premji’s endowment and philanthropic initiatives, at an issue price of Rs265 per share. This transaction will fetch the company Rs350 crore which will be largely utilised towards meeting the organic and inorganic expansion plans of the company along with funding its general corporate purposes.