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Market Snippet
Finally, bulls overpower bear and domestic stocks gained on first trading day of the week with the domestic bourses hitting almost one week high on upbeat global stocks. Global Stocks gained following a stronger US jobs reports released over the weekend. Nifty closed at 10432.80.
FMCG sector were the major gainers of the day while PSU banks were the major losers of the day.

Global Markets Update
European shares rose on Monday to their highest in almost two weeks, boosted by gains among German utilities after the sector’s leading players announced a major overhaul of the industry.
Tesla has confirmed a temporary Model 3 production suspension during a week in late February as it targets 2,500 units per week by the end of the first quarter and 5,000 a week by the end of Q2.

Nifty

Stock Snippets

Eicher Motors has decided to shut down the personal utility vehicle divison which had set up as an joint venture with Polaris, an American firm.

Larsen & Toubro (L&T) reported that its construction arm has won orders worth Rs 25.97 billion across business segment.

Powegrid on Monday won contract for “New WR-NR 765 kV Inter-Regional Corridor” to establish transmission system.

Andhra Bank hits 14 year low as ED files prosecution complaint against Anup Prakash Garg, ex- director of Andhra Bank. The Case filed under PMLA in Rs 5,000 cr bank fraud case involving Sterling Biotech and others.

ITC, the largest manufacturer of cigarettes in India gained 3%throughout the day as cess on cigarettes remained unchanged.

Wind turbine maker Suzlon today said it has bagged an order for development of 75 (MW) wind energy project from an independent power producer through Maharashtra State Electricity Distribution Company Ltd bid.

 

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