A better global mood is expected to boost local markets on Friday. As of 7:05 a.m., the SGX Nifty indicated a gap-up start, trading at roughly 17,144 levels, up more than 100 points.
Internationally, a relief rally greeted American markets overnight after the announcement by a consortium of banks that it would assist First Republic with $30 billion in deposits. The Dow Jones, NASDAQ Composite, and S&P 500 all gained up to 2%.
The Nikkei 225, Topix, Kospi, Kosdaq, and S&P 200 indexes all rose up to 0.9% this morning in Asia-Pacific markets.
Meanwhile, here are a few stocks that are anticipated to move on Friday:
TCS: Rajesh Gopinathan, Managing Director and Chief Executive Officer, has resigned from his position to pursue other interests. With over 22 years of firm experience, his request to be freed of his roles was accepted by the board. K. Krithivasan, the CEO-designate, will take over immediately.
Glenmark Pharma: The pharmaceutical company gained clearance from the US Food and Drug Administration to begin a phase 1/2, first-in-human study for an experimental novel medication targeted at treating patients with advanced malignancies.
Patanjali Foods: Following stock exchanges freezing its promoters’ shares, the business said that the action will have no effect on the company’s operations and that they aim to begin the process of making a follow-on public offering in April to expand public ownership to 25%.
Vodafone Idea: CARE Ratings updated the outlook on Vodafone Idea (Vi) bank facilities to “positive” from “stable”. It also confirmed its “B+” grade for long-term loans and debentures. The prognosis was upgraded in anticipation of stock infusions and bank borrowing for long-term debt.
Eris Lifesciences: Dr. Reddy’s reached an agreement with the firm to sell some non-core dermatological brands for Rs. 275 crore. As of December 2022, the sold portfolio had revenues of Rs 60 crore, according to IQVIA moving annual turnover (MAT) statistics.
DLF: The real estate conglomerate had pre-formal launch sales of more than Rs 8,000 crore for its premium high-rise, The Arbour, in only three days. Due to the increased demand for high-end residences, the firm will concentrate on luxury and ultra-luxury housing.
Voltas: The company’s subsidiary, Universal MEP Projects & Engineering Services, has received numerous SITC project orders in the Electrical Power Distribution industry for Rs 1,770 crore for FY22–23, including a solar power project.
Adani Transmission: The business established a wholly-owned subsidiary called ‘Adani Electricity Aurangabad.’ It was formed in order to apply for a parallel distribution license in Aurangabad. The firm has yet to start doing business.
Zensar Technologies: Zensar Learning Academy has opened in Pune, India. The academy’s goal is to offer upskilling as well as particularly selected programs that bring together product engineering, coding, design thinking, and client-centric problem-solving solutions.
Tiger Logistics: The firm won a government procurement for a bank note factory, which will improve the company’s operations. Moving forward, the firm intends to improve its position in handling government logistics in order to manage significant business.
Stocks barred from trading: GNFC and Indiabulls Home Finance were barred from trading on Friday, March 17.
