12 Mar , 2021 By : kanchan Joshi
In the news
Tata Motors sees strong CV demand in FY22
• Tata Motors expects the Indian CV market to grow at over 30% in the coming fiscal on account of economic recovery and cyclical demand.
• Due to an increase in prices of commodities such as steel, the company plans to raise the prices of its vehicles on 1 April 2021. In FY21, the stock has gained over 350%.
Anupam Rasayan IPO opens for subscription
• The public issue of the specialty chemicals Anupam Rasayan opens at a price band of Rs.553-555.
• This Surat-based company will raise Rs.760 crore through its IPO, which will completely be a fresh issue used to pay off the company’s debts. You can subscribe to the IPO with Upstox here.
India Glycols announces JV with Clariant
• Chemical maker India Glycols has announced a 49:51 joint venture with Switzerland-based Clariant to supply renewable materials to the consumer care market in India.
• India Glycols will transfer its speciality chemicals business to the JV, for which it will receive a total of ?646 crore. Shares of India Glycols have been upbeat and gained nearly 87% in 2021. Its shares closed 1.9% higher in the previous trading session.
US markets upbeat on jobless claims
• The larger-than-expected drop in US jobless claims pointed towards a recovery in the labour market. The Dow Jones scaled new highs, after rising for five straight sessions, as worries about rising inflation subsided.
• Tech-heavy stocks which had slumped in the past three weeks are seeing a fresh round of buying, as investors see value in blue-chips at lower levels. The Nasdaq has gained nearly 3.7% so far this week.
Events of the week
• Friday: Consumer Inflation and IIP (India)
Fact of the day
Coke was sold in bottles for the first time 127 years ago, on 12 March 1894. Previously, it was only available as a fountain drink.
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