Indian market moved in a narrow range for whole day and was
negative for most of the time despite clearing GST legislations. Several stock
specific moves were seen and profit booking at higher level was observed in the
market. One of the top news for the day was approval of merger by board of
directors of Idea cellular with Vodafone due to which idea initially showed
strength but loosed all its strength as market progressed towards intraday
closing. Telecom sector consolidation will hit employment badly because it will
reduce market players. As Aircel-Reliance merger is expected to reduce 5000
number of jobs.
Stocks which will be in focus on 21st march:
Wipro: Wipro has emerged as a ‘Leader' in Gartner's Magic
Quadrant for managed workplace services, North America. The share price of the
company will be watched on March 21.
Nestle India: Nestle India has introduced MILO Ready to Drink – The
Sports Partner for kids. The share price of the company will remain in the
limelight on Tuesday.
HCL Technologies:
HCL Technologies will enable information
technology that powers the Volvo Ocean Race. The share price of the company
will remain in focus on March 21.
Kaveri Seed
Company: Kaveri Seed Company will
consider buyback issue on its upcoming board meeting on March 27, 2017. The
share price of the company will be keenly watched on Tuesday.
SeQuent
Scientific: SEBI has approved scheme of
arrangement of SeQuent Scientific and Strides Shasun and SSL Pharma Sciences.
The share price of the company will remain in focus on March 21.
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