NHPC zooms 6.8 percent on debt raising for capex

Indian Markets:

• Nifty 50 Movement:  After opening higher at 16,977.30, the Nifty 50 index briefly turned red to hit the days low of 16,940.60 in early afternoon trade
• Amid mixed global cues, market started on a positive note and extended the gains as the day progress. 
• However, mid-session selling erased all the gains but final hour buying across the sectors help to end near the day’s high.
• Barring the Nifty Oil & Gas index, all the sectoral indices on the NSE ended higher. PSU banks, media, metals and realty shares rallied.

Global Markets:

• The Dow Jones index futures surged 250 points, indicating a positive opening in the US market.
• Markets in Europe and Asia advanced on Wednesday as investor doubts over the health of the banking sector continued to wane.
• US stocks ended slightly lower on Tuesday as investors weighed comments from a top US regulator on struggling banks and sold shares of technology-related names after their recent strong run.
• Consumer confidence inched up in March after two straight monthly declines. The Conference Board reported Tuesday that its consumer confidence index rose to 104.2 in March from 103.4 in February. The board said that despite the uptick in confidence, the index remains below 2022s average level of 104.5.

Stocks in Spotlight:

• ZEE Entertainment share price rallied as IndusInd Bank informed the NCLAT that a settlement was reached between the two March 29th. The payment obligations have been undertaken which will be paid till June 30th or within 7 days of Sony Merger. Some amounts have already been paid.
• NHPC stock price rallied as the company announced that its board has approved raising debt upto Rs. 5600 crore during FY23-24 via corporate bonds or external commercial borrowings.
• NTPC Renewable Energy has signed term sheet with Greenko ZeroC to supply 1300 MW round the clock RE power for powering Greenkos upcoming Green Ammonia Plant at Kakinada, India.

News from the IPO world?

• Netweb files for IPO
• SPC Lifesciences files draft papers with SEBI for IPO
• Haldiram’s look to expand, mulls IPO on merger of Noida, Nagpur business

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