Share markets in India are presently trading marginally higher.

The BSE Sensex is trading up by 126 points, up 0.3% at 51,151 levels.

Meanwhile, the NSE Nifty is trading up by 30 points.

Eicher Motors and Tech Mahindra are among the top gainers today. ONGC and SBI Life are among the top losers today.

The BSE Mid Cap index is trading up by 0.3%.

The BSE Small Cap index is trading up by 0.3%.

On the sectoral front, stocks from the software sector, are witnessing most of the buying interest

On the other hand, stocks from the energy sector, are witnessing most of the selling pressure.

US stock futures are trading lower today, indicating a negative opening for Wall Street.

Nasdaq Futures are trading down by 56 points (down 0.4%) while Dow Futures are trading down by 67 points (down 0.2%).

The rupee is trading at 72.95 against the US$.

Gold prices are trading down by 0.3% at Rs 44,720 per 10 grams.

Gold was under pressure in Indian markets today amid a rally in risk assets like equities. On MCX, gold futures were down 0.3% to Rs 44,732 per 10 grams while silver rates declined 0.7% to Rs 67,011. In the previous session, gold had jumped 1.4% while silver had surged 2.6%, tracking a jump in global rates.

Moving on to stock-specific news...

Among the buzzing stocks, today is HPCL.

Hindustan Petroleum Corporation Limited (HPCL) will set up a compressed biogas (CBG) project at Badaun in Uttar Pradesh. The plant will be developed by Praj Industries, a Pune-based process, and project engineering company.

The project with a capacity to process 35,000 tonnes of rice straw as feedstock to generate 5,250 tonnes of CBG annually will also generate 23,000 tonnes of high-quality solid bio-manure and 350,000 tonnes of liquid bio-manure for for-irrigation, Praj said in a statement.

However, the company did not disclose the amount of the order.

This project has the potential to save up to 15,000 tonnes of CO2 emissions per year and will be completed and commissioned within 12 months.

For this project, Praj is offering first-of-its-kind RenGasTM technology developed by it using proprietary microbe to produce CBG from rice straw.

"We are delighted to partner HPCL for the CBG project at Badaun UP which will deploy RenGasTM technology as an integral part of our Bio-MobilityTM platform," Praj CEO and Managing Director Shishir Joshipura added.

He added that this project is a definitive solution to meet the challenge of air pollution-related to stubble burning while simultaneously enabling sustainable decarbonization.

"We are already executing for HPCL advanced biofuels project at Bhatinda in Punjab, based on our infinity 2G technology that uses rice straw as feedstock to produce ethanol."

We will keep you posted on more updates from this space. Stay tuned.

At the time of writing, shares of HPCL were trading up by 0.7% on the BSE.

In news from the steel sector, market participants are tracking shares of Tata Steel and Tata Steel PP.

The Income Tax Appellate Tribunal (ITAT) has refused to grant a stay on recovery of tax and interest demands to the tune of Rs 12.2 billion for Tata Steel.

The company had sought a stay on collection/ recovery of tax and interest demands aggregating to Rs 12.2 billion in the matter of assessment under section 143(3) of the Income Tax Act, 1961, for the assessment years FY10 to FY15, and also a stay on adjustment of these demands against refund of Rs 4.4 billion. Shares of Tata Steel are currently trading up by 0.3%.

Moving on to news from the IPO space...

Easy Trip Planners IPO Closes Today, Oversubscribed 7.2 Times

The initial public offering (IPO) of online travel company Easy Trip Planners will close today (March 10, 2021). It opened on March 8, 2021, to strong demand and was oversubscribed 7.2 times on the second day of subscription.

The Rs 5.1 billion issues received bids for 108.5 million shares against 15.1 million shares on offer, as per data available with the National Stock Exchange (NSE).

The company set a price band of Rs 186-187 per share to raise Rs 5.1 billion through the offer for sale. Those interested can apply for a minimum of one lot of 80 shares.

The issue is a complete offer for sale. Nishant Pitti and Riskant Pitti, the founders of the company with over 49% stake each, are planning to offload shares worth Rs 2.5 billion each through the IPO.

The grey market premium on Easy Trip Planners shares is Rs 160-165.

The shares of the company are expected to be listed on the Bombay Stock Exchange (BSE) and NSE on March 19, 2021.

How this IPO sails through remains to be seen. Meanwhile, stay tuned for more updates from this space.

Speaking of the stock markets, here is an illustration of the four phases that stock goes through during its life cycle. The cycle repeats itself after the stock goes through all these four stages.

This cycle defines everything in markets. If you can master this cycle, then nothing can stop you from making huge profits.