[28/02 Market Update]Adani Enterprise (+14%) rose after a report stated that the group will repay or prepay share-backed loans worth $690 million to $790 million by March-end.
[28/02 Market Update]Adani Enterprise (+14%) rose after a report stated that the group will repay or prepay share-backed loans worth $690 million to $790 million by March-end.
Tribe Daily
Market Summary
Nifty declined due to relentless selling by FII as global investors' interest in the equity market is weakening due to high inflation and contractionary monetary policy.
Companies
Adani Enterprise (+14%) and Adani Ports (+5%) rose after a report stated that the group will repay or prepay share-backed loans worth $690 million to $790 million by March-end. Cipla (-5%) declined on concerns about product launch delays in the USA.
Sectors
Nifty Media (+2%) rose due to strong performance of Zee Entertainment, TV18 Broadcast, Network 18 and Sun TV Network. Nifty Realty (+1%) rose due to strong performance of Phoenix Mills, Prestige Estate, Godrej Properties, DLF and Oberoi Realty. Nifty Auto (+1%) rose due to strong performance of Tube Investment, Ashok Leyland, Exide Industries, M&M, and Bosch.
Market News
1.SBI entered the social loan market and raised $ 1 billion from the overseas market. (Money Control)
2.Tata Motors (+1%) rose after it launched the first scrapping vehicle facility in Jaipur. (Zee Business)
3.Shree Cements (+1%) rose after the company emerged as the highest bidder for the Datima Coal Mine block. (Money Control)
4.MRF raised Rs 150 cr through NCDs via private placement. (CNBC TV 18)
5.Paint companies outperform in muted market session as crude prices cooled and rural demand revived. (CNBC TV 18)
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