[09/03 Market Update] Adani Enterprises (-4%) down as CARE Ratings downgrades outlook to negative

Tribe Daily

Mar 9, 2023

Market fails to hold opening gains, closes at day’s low. Nifty falls 165 points.

Companies

Adani Ent (-4%) down as CARE Ratings downgrades outlook to negative. Tata Steel (+2%) close higher on positive brokerage notes. M&M (-3%) slip on concerns related to tractor demand.

Sectors

Nifty Metal (+0.06%) rose amid signs of recovery in China. Nifty Realty (-1%) fell due to a weak market. Nifty AUTO (-2%) fall amid rising inflation and weak exports.

Market News

1.TCS (-2%) on the verge of closing deals worth $1 Bn with Marks & Spencer. (Business Standard)

2.Byju's to raise $250 Mn via convertible notes in Aakash pre-IPO funding. (Business Standard)

3.Reliance Jio subsidiary Radisys to acquire Mimosa Networks for $60 Mn. (CNBCTV18)

4.Abu Dhabi Investment Authority is nearing a deal to acquire a stake in Indian eyewear startup Lenskart Solutions Pvt. for about $500 Mn. (BQ Prime)

5.Garuda Aerospace Pvt. has tied up with farm supply chain company Ninjacart Pvt. to offer short-term financing options to farmers hiring drones. (BQ Prime)