0.14% stake in Barbeque Nation Hospitality is bought by UTI Mutual Fund

Opening Bell:

SGX Nifty is up by 56.5 points in the early morning trade, indicating a positive opening for Indian stock market.

Asia Pacific markets were mixed on Thursday after the U.S. Federal Reserve released the minutes of its most recent meeting that showed central bank members are still committed to fighting inflation with rate hikes. The Japanese Nikkei is down by 1.34 percent. Hong Kong’s Hang Seng is down by 0.13 percent and South Korea’s Kospi is up by 1.14 percent in early morning deals.

The S&P 500 extended its losing streak to four sessions as Wall Street ended broadly lower on Wednesday, with investors cautious despite the latest guidance on rate policy from the US central bank showing few surprises The S&P 500 lost 0.16 percent and Nasdaq Composite added by 0.13 percent respectively

Stocks News:

?UTI Mutual Fund has bought additional 0.14% stake or 54,829 equity shares in Barbeque Nation Hospitality via open market transactions on February 21. With this, its shareholding in the company increased to 9.1753%, up from 9.0346% earlier.

?Lemon Tree Hotels has signed a license agreement for a 47 rooms property in Bhopal, Madhya Pradesh under its brand ‘Lemon Tree Hotel’. The hotel is expected to be operational by December 2023. This hotel will feature 47 well-appointed rooms, a restaurant, a banquet, a gym and other public areas. Subsidiary Carnation Hotels will be operating this hotel.

?Adani Power Maharashtra (APML) has requested the company to not to pursue the venture further, for setting up a cement grinding unit, as they are not able to obtain the required MIDC clearances for sub-leasing the parcel of land required for the cement grinding unit, due to some legal issues.

?VIDA, the emerging mobility brand of Hero MotoCorp, has initiated operations of its public charging infrastructure in Bengaluru, Delhi and Jaipur. The brand has set up nearly 300 charging points at 50 locations across the three cities for public use.

?Foreign institutional investors (FII) sold shares worth Rs 579.82 crore, whereas domestic institutional investors (DII) bought shares worth Rs 371.56 crore on February 22, NSE’s provisional data showed.

Domestic and International Events

• Many members of the Monetary Policy Committee (MPC) highlighted the continuing concerns about high inflation while some cautioned about the impact of too much rate tightening on growth, according to the minutes of the meeting released on February 22.
• Oil prices fell by $2 per barrel to their lowest in two weeks on Wednesday, as investors became more concerned that recent data will prompt more aggressive interest rate increases by central banks, pressuring economic growth and fuel demand.
• Foreign direct investment (FDI) into India declined by 15 percent to $36.75 billion during the April-December this fiscal, according to the latest Department for Promotion of Industry and Internal Trade data. The FDI inflows stood at $43.17 billion during the corresponding period of the previous year.
• South Korea’s central bank kept interest rates unchanged on Thursday, matching market expectations and ending an uninterrupted one-year run of rises. The Bank of Korea’s monetary policy board held its policy interest rate steady at 3.50 percent, in line with a unanimous expectation by the 42 economists in a Reuters poll.

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