[27/02 Market Update] Power Grid (+2%) rose after the company's board Rs 803 cr investments for electricity transmission projects.
[27/02 Market Update] Power Grid (+2%) rose after the company's board Rs 803 cr investments for electricity transmission projects.
Tribe Daily
Market Summary
Nifty declined due to FII outflows and worsening global macroeconomic indicators like higher inflation, rising interest rates, and volatile commodity prices.
Companies
Power Grid (+2%) rose after the company's board Rs 803 cr investments for electricity transmission projects. Bajaj-Auto (-5%) declined as the auto major is expected to take a steep cut in motorcycle and three-wheeler production across its export-focused plants.
Sectors
Nifty Realty (+2%) rose due to an improvement in demand and rising investments in industrial and household segments. Nifty IT (-2%) declined after USA data reinforced fears of a prolonged high-interest rate regime.
Market News
1.Spicejet is planning to raise Rs 2,500 cr in fresh capital via QIP. (Mint)
2.Airtel crossed the 10 million unique 5G user mark on its network. (Mint)
3.Dr. Reddy acquired Mayne Pharma's USA prescription portfolio for $ 105 million. (Business Standard)
4.Venus Remedies (+2%) rose after the company's Baddi facility got a GMP certificate. (Financial Express)
5.Olectra Greentech (+11%) rose after the company tied up with Reliance Industries to develop hydrogen buses. (Indian Express)
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