Stock market news that you should not miss today

31 Mar 2022 , 07:48 AM

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

• Markets to open on a positive note; support @17,200, resistance at 17,700.
• FIIs bought shares worth Rs1357.47 crore (cash), bought Rs1216 crore in index futures.
• US markets close marginally lower. Asian Markets opened muted.
• Brent crude was trading 3.92% lower at $109.00 per barrel.
• Nazara Technologies: Subsidiary Nazara Pte Ltd (Nazara Singapore) will invest $2.5 million in BITKRAFT Funds. Out of which $0.875 million will invest upfront while the balance investment amount of $1.625 million will be deployed over a period of three years.
• Tata Steel: Tata Steel transferred its entire stake in Tata Steel Special Economic Zone Limited to Tata Steel Utilities and Infrastructure Services for consideration other than cash. The company has executed an asset transfer agreement for the acquisition of itemised assets from Stork Ferro and Mineral Industries Private Limited to produce ferro alloys.
• ONGC: The two-day offer for sale issue will close on March 31. The Government of India has decided to exercise the oversubscription option to the extent of additional 9.4 crore equity shares, in addition to 9.4 crore equity shares of the company. Accordingly, the total offer size for sale will be up to 18.8 crore shares or 1.5% of the total paid-up equity.
• Axis Bank: The bank has acquired Citibank’s India consumer business from Citibank N.A. and the NBFC consumer business from Citicorp Finance (India), as going concerns, without values being assigned to individual assets and liabilities to either business. The bank has executed business transfer agreements with Citibank N.A. and Citicorp Finance (India) on March 30. The cost of acquisition is Rs12,325 crore.
• Quess Corp: The board has approved the transfer of digital business undertaking of the company comprising Qjobs, Worq, and Dash as a going concern on a slump sale basis to the company’s subsidiary Billion Careers Private Limited (BCPL), for Rs5.04 crore.
• Mangalam Cement: Promoter Vidula Consultancy Services acquired 2.26 lakh equity shares in the company via open market transactions. With this, its shareholding in the company stands at 9.92%, up from 9.1% earlier.
• Godrej Properties: The real estate developer has acquired a nine-acre land parcel in the residential micro-market of Pimpri-Chinchwad in Pune. The development will primarily be for a group housing project.