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BSE Realty index added 2 percent led by the Macrotech Developers, Indiabulls Real Estate, Oberoi Realty
CLSA view on Nazara Technologies:
Foreign broking firm CLSA has retained sell on Nazara Technologies with target of Rs 1,615 per share.
Three high courts were scrapping the blanket ban on online gaming. India’s dichotomy between Centre & States’ regulations is a significant sector challenge.
Company’s core business will see a boost with physical eSports events starting Q1FY23.
Nazara Technologies was quoting at Rs 1,743.00, down Rs 44.75, or 2.50 percent on the BSE.
Nifty Bank index rose 1 percent supported by the IndusInd Bank, AU Small Finance Bank, IDFC First Bank
Karma Capital partners with Emkay Global Financial Services:
Karma Capital, a leading equity led portfolio management firm has entered into an agreement with Emkay Global Financial Services for the distribution of its investment solutions. Karma Capital’s entire suite of Alternative Investment Funds (AIF) and Portfolio Management Services (PMS) will now be available to Emkay Global’s customer base.
Emkay Global Financial Services was quoting at Rs 105.50, up Rs 3.35, or 3.28 percent on the BSE.
Market at 3 PMBenchmark indices continued to trade higher with Nifty above 16300 led by buying across the sectors barring metals.The Sensex was up 1,316.33 points or 2.46% at 54740.42, and the Nifty was up 361.40 points or 2.26% at 16374.90. About 2546 shares have advanced, 600 shares declined, and 89 shares are unchanged.
J Kumar Infraprojects bags orders worth Rs 2,030 crore
J Kumar Infraprojects has received work order from M/s. Pune Municipal Corporation for Development of Mula Mutha River from Bund Garden Bridge to Mundhwa (Stretch 10 and 11) under Pune River Rejuvenation Project and Construction & Development of Riverside Road from Bund Garden Bridge to Mundhwa (Right Hand Side) on Public Private Partnership Module against Development Credit Note awarded amounting to Rs 604,75,33,736.
Also received letter of acceptance for the execution the contract DC-08: design and construction of Twin Tunnel (Up & Down Line) by Shield TBM, Cut and Cover Tunnel box and four Underground stations namely Aerocity, Mahipalpur, Vasant Kunj and Kishangarh with Entry/Exits & Connecting subways from chainage (-) 760 mt. to 5356.285 mt. of Aerocity to Tughlakabad Corridor of Phase-IV of Delhi MRTS worth Rs 1426,99,50,000.
J Kumar Infraprojects was quoting at Rs 164.35, up Rs 4.55, or 2.85 percent on the BSE.
Cabinet clears formation of SPV for sale of surplus government land, buildings
The Cabinet has approved the formation of National Land Monetisation Corporation (NLMC) to handle the sale of surplus land and buildings of the government, its agencies, and Central Public Sector Enterprises (CPSEs).
NLMC will be a wholly owned central government entity with an initial authorised share capital of Rs 5,000 crore and paid-up share capital of Rs 150 crore, the government said in a statement on March 9.
The special purpose vehicle will be set up by the Department of Public Enterprise and the Ministry of Finance.
Markets surge over 2 percent: Key factors behind the bull run
The market sentiment was also upbeat on the news reports suggesting that President Volodymyr Zelensky is no longer pressing for NATO membership for Ukraine. Analysts expect less aggressive move by US…
European Markets Updates
PNC Infratech declared lowest bidder for project worth Rs 864 crore
PNC Infratech Limited has been declared the L1 (lowest) bidder for a NHAI Project of ‘Improvement and up-gradation of 54.429 km long to 4–lane with Paved Shoulders, from km 174.641 to 229.070 of NH-731 in Hardoi District of Uttar Pradesh on Hybrid Annuity Mode, for a Bid Project Cost of Rs. 864.0 Crore. The project is to be constructed in 30 months and operated for 15 years post construction. The stock was trading at Rs 241.30, up Rs 1.70, or 0.71 percent. It has touched an intraday high of Rs 248.30 and an intraday low of Rs 239.10.
Akhil Chaturvedi, Chief Business Officer, Motilal Oswal AMC:
In current times of geo-political risks where markets have corrected sharply, yet the domestic investors have continued to add more allocation to equity. This is clearly change of attitude of investors towards this asset class and a definitely a positive change. At this stage, net domestic positive flows is supporting the massive outflows seen by FII’s on daily basis. A large part of the positive flows is also due to the strong SIP flow of 11k crore monthly which continues to grow strongly.
