Stock market next week: Corporate actions, FOMC meet among other key factors to watch out
The Indian markets witnessed a decent recovery amid volatility and both the benchmark indices – Sensex and Nifty50 – gained over 2 per cent, taking a breather after 4 weeks of slide. The indices recovered, on the updates of possible de-escalation between Russia-Ukraine.
Besides, the results of state elections, specifically Bhartiya Janata Party winning 4 of 5 assembly polls, also boosted sentiment in the final sessions. A mixed trend was witnessed on the sectoral front wherein pharma, realty, IT and metal pack posted decent gains.
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FOMC meeting, macro numbers and Russia-Ukraine issue will be key global factors to watch next week for domestic markets along with some important corporate action in holiday shortened week. On account of Holi, the share market will be closed on Friday – March 18 this week.
Below are the key events listed date wise next week
Monday – March 14
Escort: Kubota Corporation’s open offer will start, the price set at Rs 2000 per share.
The ex-date of Ramkrishna Forgings Ltd for stock split from 10 to 2.
It also an ex-date of Infibeam Avenues Ltd for bonus issue of 1:1
CPI and WPI figures to be launched by Statistics Ministry on Monday.
Tuesday – March 15
Wockhardt to launch its Rights Issue on Tuesday, it will issue 3 rights shares on 10 shares, the price set at Rs 225 per share.
The ex-date for Brightcom Group’s bonus issue 2:3; Rajratan Global Wire’s stock split from Rs 10 to 2 per share and TVS Electronics’ interim dividend of Rs 2 per share.
Mold-Tek Technologies’ board to meet on Tuesday to mull on interim dividend.
US Fed’s 2-day FOMC meeting will begin on Tuesday to discuss on interest rates.
Wednesday – March 16
Urja Global’s board to meet to discuss buying stake in Urja Batteries through rights issue and also mulling to make Gaurav Agarwal as CEO (Chief Executive Officer).
Rail Vikas Nigam Limited’s board to meet on Wednesday to discuss on interim dividend
The ex-date for Jindal Steel & Power’s interim dividend at Rs. 1 per share; Metro Brands’ interim dividend of Rs 1.5 per share and Shriram City Union Finance’s interim dividend of Rs 27 per share.
US’ February retail sales figures to come on Wednesday, as well as the Fed Reserve’s FOMC decision on interest rates is also scheduled on the same day midnight.
Thursday – March 17
BEL’s board to meet to discuss on interim dividend
Jindal Photo’s delisting offer will open on Thursday, the price is set at Rs 268 per share
The ex-date of Sun TV’s interim dividend of Rs 5 per share is on Thursday.
Europe to come out with its February inflation data on Thursday
Friday – March 18
TVS Motors’ board to meet to mull on interim dividend
On account of Holi, the share market is scheduled to be closed.