March 24, 2022:

Sensex and Nifty are all bearish today!

• BSE Sensex ended 89.14 or 0.15% lower at 57,595.68.

• NSE Nifty plunged 22.9 or 0.13% to close at 17,222.75. 

Few sectoral indices ended up in green with Nifty Metal, Pharma, Oil and Gas, Media rising up by 1 - 5% whereas other sectoral indices were bearish with Nifty Bank, Financial Services plunging by 1 - 1.7%.

BSE midcap and smallcap rose by 0.34% and 0.16% each. 

Top Stocks On Encome.io Dashboard:

News Wrap:

Big News:

Sanjiv Goenka Group To Expand Aggressively In Near Future

Sanjiv Goenka Group is aiming to take over several companies in the retail, technology and power distribution sectors as their only goal is aggressive expansion. 

The group with $4 Billion annual revenue, wants to acquire more and more retail chains after buying grocery delivery chains of retail stores Nature’s Basket in the year 2019. The company is also looking for assets in the electrical utilities and IT-enabled services sectors, where it has already made three acquisitions in the last year. 

IPO Alert: 

Vikram Solar drafts IPO papers with SEBI

Vikram Solar, a local module manufacturer, has filed initial documents with the Securities and Exchange Board of India for its initial public offering (IPO).

The initial public offering (IPO) would include a fresh issue of up to Rs 1,500 crore and an offer for sale (OFS) of up to 50,00,000 equity shares by existing shareholders. The company sold several Solar PV Modules in 32 countries, the company has a sales office in the United States and a procurement office in China. The company’s Indian consumers include NTPC, HPCL, Amp Energy India, Solar Energy Corp and several others. 

More To Know:

• The Allana Group, India's largest producer of processed foods and agricultural commodities, has been named one of the country's top wheat exporters.

• Maruti Suzuki's Board of Directors on Thursday named Hisashi Takeuchi as the company's Managing Director and Chief Executive Officer, effective April 1.

• Honda Motorcycle & Scooter India, a two-wheeler manufacturer, is undertaking a feasibility analysis to launch an electric two-wheeler alternative in India.

• India's biggest gasoline retailers, IOC, BPCL, and HPCL, together with lost nearly $2.25 billion in income in March by keeping petrol and diesel prices steady.

• Zomato Ltd, a food aggregator, aims to open additional stores throughout India's major cities in order to expand its 10-minute delivery service.

• Shares of Paytm owned by One97 Communications hiked up by 13% on March 24th - its biggest gains in the past 4 months.