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February auto retail down 13% even as car, tractor sales remain in high gear: HDFC Securities 

Passenger vehicle and tractor retail remained on the growth trajectory in February, but two-wheeler and commercial vehicle sales were deep in the red, pulling the entire automobile market down with a double-digit decline. Vehicle registrations with regional transport offices (RTOs) – which is a proxy for retail – declined by over 13% year-on-year during the month of February, data show.

Indian Bank Ltd to raise Rs. 4000 crore through QIP:

The Committee of Directors of Indian Bank Ltd in its meeting held on date i.e. 09.03.2021 has accorded approval for raising of equity capital of the Bank aggregating upto Rs. 4000 crore (including premium) through Qualified Institutions Placement (QIP) in one or more tranches.

Mindspace REIT board approved Rs 450cr fundraising plan:

Mindspace Business Parks REIT on a private placement basis for an aggregate amount of upto Rs. 450 crores in one or more tranches.

Electric vehicle financing industry to be worth Rs 3.7 lakh crore by 2030: Report

India's electric vehicle (EV) financing industry is projected to be worth Rs 3.7 lakh crore in 2030, about 80 per cent of the current retail vehicle finance industry, according to a new report. The report titled 'Mobilising Electric Vehicle Financing in India', prepared by Niti Aayog and Rocky Mountain Institute (RMI) India pointed out end-users currently face several challenges, such as high interest rates, high insurance rates, and low loan-to-value ratios. It said India's transition to electric vehicles (EVs) will require a cumulative capital investment of USD 266 billion (Rs 19.7 lakh crore) in EVs, charging infrastructure, and batteries over the next decade.

Jio to offer services at lower tariffs for MSMBs; eyes 50 million MSMB customers:

Telecom operator Reliance Jio on Tuesday said it will offer broadband services to the Micro, Small and Medium Businesses (MSMBs) at lower tariffs. The company claimed that it will offer broadband connections to the MSMB customers at one-tenth of the market rate, starting at Rs 901 per month with 100 megabit per second upload and download speed as well as unlimited usage. Jio will also provide digital solutions, including remote management of employees, video conferencing and devices as a service, for a monthly rental of Rs 5,000. The company claims the plan is 50 per cent cheaper compared to its competitors. The company is initially targeting to serve 50 million MSMB customers.

Daily Technical View on Nifty

Nifty Getting Strength Again

Nifty has been finding support around 14900 levels for lat 3 consecutive sessions

Nifty has closed at the 3 sessions’ high in yesterday trade Nifty is giving respect to 20 days EMA as a support, for last three sessions

At present 20 days EMA is placed at 14926, which can act a immediate support in Nifty Immediate resistance for Nifty is placed at 15273 Below 14600, Nifty would enter in positional down trend.

IT Stocks came back sharply in last hour of trade and entire space is looking strong for short term trading long

SGX Nifty is suggesting higher opening of more than 60 points Any level above 15273 would bring the momentum back in the Nifty Traders are advised to remain bullish with 14900 stoploss in Nifty.

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