The domestic stock markets are likely to open in the red on the back of weak global cues. The US markets ended lower overnight and trends on SGX Nifty indicate a gap-down opening for the index in India, with a 218-points loss. At 7:30 am, the Nifty futures were trading at 15,076, lower by 218 points or 1.7 per cent, on the Singapore Stock Exchange.
On Thursday, the S&P BSE Sensex closed above 51,000 mark, rising 1,147.76 points, or 2.28 per cent, to 51,444.65 and the Nifty rallied 326.50 points, or 2.19 per cent, to 15,245.60.
Stocks to watch in trade in today's session (March 4, 2021):
Adani Ports and SEZ
India's largest private port operator Adani Ports and Special Economic Zones (APSEZ) has announced that it is acquiring the 31.5 per cent in Gangavaram Port Ltd (GPL), near Visakhapatnam, currently held by private equity investor Warburg Pincus. The acquisition is valued at Rs 1,954 crore and is subject to regulatory approvals.
Mortgage lender HDFC said it will raise up to Rs 5,000 crore by issuing non convertible debentures (NCDs) on a private placement basis. The issue will open on March 5, 2021 and close the same day, HDFC said in a regulatory filing.
The government will sell 6 per cent additional stake in IRCON International on March 4 through an offer for sale.
Welspun India's board of directors has approved raising of borrowing of upto a maximum of $100 million (approximately Rs 750 crore) through multiple modes, including ESG bonds and non-convertible debentures (NCDs)