Russian missiles struck a major Ukrainian base near the border with Poland on Sunday.
The Hang Seng and Shanghai Composite are trading down 3.8% and 1.3%, respectively. The Nikkei is up 0.8%.
In US stock markets, Wall Street indices faltered on Friday as tech and growth stocks fell broadly and investors worried about a conflict in Ukraine, while attention turned to the Federal Reserve’s policy meeting this week.
The two-day meeting of the US central bank will begin on Tuesday.
At the end of a volatile week, Russian President Vladimir Putin said indices were open higher, without providing any details, after “some positive changes” in talks with Ukraine, but stocks faded during the session.
The Dow Jones Industrial Average fell 230 points, or 0.7%, while the S&P 500 fell 55 points, or 1.3%. The tech heavy Nasdaq dropped 286 points, or 2.2%.
Back home, Indian stock markets are trading on a positive note.
Benchmark indices opened on a positive note today despite uncertainty over the developments in Russia-Ukraine talks.
BSE Sensex is trading up 234 points. Meanwhile, NSE Nifty is trading with a gain of 42 points.
Infosys and HDFC Bank are among the top gainers today. On the other hand, Hindustan Unilever is among the biggest losers today.
BSE Mid Cap Index is down 0.5% while BSE Small Cap is trading on a flat note.
Sectoral indices are trading mixed with stocks in IT sector and banking sector showing buying interest.
On the other hand, realty stocks and automobile stocks are trading in the red.
Shares of GHCL, Sun Pharma and Gujarat Narmada reached 52-week high today.
Rupee is trading at 76.63 against US Dollar.
Gold prices are trading lower by 0.3% 52,732 per 10 grams.
Meanwhile, silver prices are trading with a fall of 0.4%. 70,067 per kg.
Gold declined today on a firmer US Treasury yield and improved risk appetite on hopes of peace between Russia and Ukraine.
In news from the renewable energy sector, Minister of Highways and chairman of the Cabinet Subcommittee to Accelerate Renewable Energy Projects, Johnson Fernando, said on Sunday that President Gotabaya Rajapaksa had ordered that action be taken to generate 5,000 megawatts from renewable energy. .
The minister said that as part of the new programme, the cabinet subcommittee had approved a project by India’s Adani Group to invest US $500 million in the development of renewable energy projects in Sri Lanka.
He said the Indian company is also expected to invest in many more similar projects and added that action will be taken against those who delay foreign investment projects.
The cabinet subcommittee decided to select suitable investors from amongst those who expressed their willingness to invest in identified renewable energy projects, identifying new projects with high viability.
This is done to connect the power generated by all Renewable energy National Grid Sources
We will keep you informed about the latest developments in this field. stay tuned.
In news from the edible oil sector, Ruchi Soya will launch its follow-on public offering on March 24. A follow-up offering is the issuance of additional shares made by a company one after another. initial public offering (IPO).
The issue of the diversified FMCG company will close on March 28. FPO consists of equity shares of face value 2 to add each 43 billion
The issue also includes reservation of up to 10,000 equity shares for subscription by eligible employees. If such placement is completed, the size of the follow-on will be reduced.
Note that in order to comply with the market regulator’s minimum public share requirement of 25% in a listed business, the company is issuing additional public offerings.
At present, Patanjali Group holds about 98.9% stake in Ruchi Soya. Public shareholders hold about 1.1% stake.
After the FPO, Patanjali Group’s stake in Ruchi Soya will come down to around 81 per cent and the public’s stake will be around 19 per cent.
The share price of Ruchi Soya is currently trading with a gain of 16.3%.
Coming to Ruchi Soya, note that the shares of the company saw a huge jump in January 2020 after they relied on the stock exchanges.
From On 17 Jan 27, the stock skyrocketed to touch the highs 1,535 on June 29 – a jump of 8,929%.
see full image
Since then, the stock has bottomed out and has been trading in a range bound for the past few months.
The rise in Ruchi Soya share price was mainly due to low levels of free float.
Moving on to the news from the energy sector, GAIL is one of the top trending stocks today.
State-owned gas utility GAIL has declared second interim dividend of 50% ( 5 per share) for the current financial year ending March 2022.
Total dividend payout will be 22.2 billion with a record date of March 22, the company said in a statement.
For the current financial year 2021-22, GAIL has already declared interim dividend of 4 per share to its shareholders in December 2021. total two interim dividends 9 per equity share.
Note that this is the highest ever dividend payout by GAIL in terms of total dividend amount.
On the basis of current shareholding, dividend of 11.4 billion will be paid to the government and 10.8 billion to other shareholders.
To know more, see GAIL’s Dividend Payment History,
(This article is syndicated from) equitymaster.com,
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