[23/02 Market Update]Hindalco (+2%) rose as the company is planning to buy Rs 3,000 cr aluminium recycle unit.
[23/02 Market Update]Hindalco (+2%) rose as the company is planning to buy Rs 3,000 cr aluminium recycle unit.
Tribe Daily
Market Summary
Nifty declined marginally as Investors were concerned about high inflation and interest rate hike.
Companies
Hindalco (+2%) rose as the company is planning to buy Rs 3,000 cr aluminium recycle unit. Axis Bank (+2%) rose after the bank enabled cross-border transactions in real-time via UPI.
Sectors
Nifty PSU Bank (+1%) rose due to improvement in asset quality and deposits, reversal of treasury losses, and pick-up in credit growth. Nifty FMCG (+1%) rose due to a recovery in rural demand.
Market News
1.Spice Jet (-1%) declined due to stake sale news. (Mint)
2.NSE got SEBI's final approval to launch Social Stock Exchange. (Money Control)
3.ZEE Entertainment (-4%) declined as NCLT admitted IndusInd Bank's insolvency plea. (Business Today)
4.Deep Industries (+1%) rose after it won Rs 106 cr order for mobile drilling rigs from ONGC. (CNBC TV 18)
5.Tata Motors is in talks to raise $ 1 Billion via stake sale in EV business: Report. (Business Standard)
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