[02/03 Market Update] Adani Ports (+3%) & Adani Enterprise (+3%) rose after Supreme Court order on Hindenburg out
[02/03 Market Update] Adani Ports (+3%) & Adani Enterprise (+3%) rose after Supreme Court order on Hindenburg out
Tribe Daily
Market Summary
Market erases yesterday’s gains in a rangebound session
Companies
Adani Ports (+3%) & Adani Enterprise (+3%) rose after Supreme Court ordered Sebi to complete its probe on the report by Hindenburg Research within two months. Maruti Suzuki (-2%) declined after management says rural sales could be impacted due to El Nino.
Sectors
Nifty IT (-1%) fall due to weak global cues. Nifty Auto (-1%) fall as auto companies see a mixed close on in-line Feb sales.
Market News
1.SEBI cracks down on stock manipulation via YouTube, bans Arshad Warsi, others from securities market (Economic Times)
2.Sun Pharma (+1%) reports "information security incident"; isolates impacted IT assets (Economic Times)
3.Indian tech industry set to reach $245 bn in FY23: Nasscom. (Fortune_India)
4.Delhivery (-3%) shares edge lower after SoftBank offloads 3.8% stake for ₹954 crore (Business Insider).
5.Swiggy sells Cloud Kitchen biz to Kitchens@ as food delivery growth slows down. (Business Insider)
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