- BSE Sensex and NSE Nifty continued to trade in a range amid lackluster Asian markets.
- Because inflation is high, analysts anticipate a hawkish approach.
- Axis Bank, HDFC Bank, Tata Steel, Tata Consumer Products, and Tata Motors are among the top losers.
After the Central Bank of Japan raised interest rates for the first time in 17 years, benchmark indexes BSE Sensex and NSE Nifty continued to trade in a range amid lackluster Asian markets. Analysts foresee little selling in small- and mid-cap stocks, but they do not anticipate a rush of purchases.
The US Federal Reserve’s rate announcement was the main event, and the focus switched to international events for movement in domestic markets. Because inflation is high, analysts anticipate a hawkish approach. In the early session, Zomato saw a rise of 1.36%, Tata Steel saw a decline of 1.3%, HDFC Credila ceased to be a subsidiary of HDFC Bank, and DCB Bank declined in response to the monetary penalty imposed by the RBI.
Asian stocks
Aster DM Healthcare Ltd. is almost done separating its businesses in India and the GCC, and Fajr Capital is considering investing. As part of a fundraising move, Bharat Forge Limited issued non-convertible debentures to investors valued at Rs 125 crore.
Resgen Limited purchased a 55% share in Mumbai-based RESGEN Protech Pvt Ltd, a company that specializes in tire pyrolysis business, to support the target’s automated batch operations and zero emission philosophy.
3,862 stocks in all were traded, of which 1,633 saw advances, 2,124 saw declines, and 105 saw no change. Eicher Motors, Maruti Suzuki, Power Grid Corporation of India, Nestle India, and Oil and Natural Gas Corporation are among the top gainers on the NSE. Axis Bank, HDFC Bank, Tata Steel, Tata Consumer Products, and Tata Motors are among the top losers.
The IPO for TAC Security is scheduled to begin on March 27, 2024, with a price range of Rs. 100–106. The business intends to use the net proceeds from the IPO to invest in TAC Security INC. (Delaware, USA) to hire competent professionals for organic expansion outside of India, as well as in human resources and product development to support organic growth in India.
Through the use of the “SaaS model,” TAC Security provides cybersecurity quantification, risk-based vulnerability management and assessment solutions, and penetration testing services to both local and foreign enterprises of any size.
