Good morning!
The GIFT Nifty, an early indicator for the benchmark Nifty 50, was down 0.30% at 24,020 as of 6:17 a.m. Equity-index futures for the US (S&P 500) dipped 0.11% and Europe (Euro Stoxx 50) rose 0.51%.
Indian Market Recap
Indian equity benchmarks posted their strongest weekly gain in more than five years, driven by improving global sentiment after the United States and Iran agreed to a ceasefire. The NSE Nifty 50 and the BSE Sensex rallied nearly 6% during the week, marking their best performance since the first week of February 2021.
On Friday, the 50-stock index rallied 1.2% to close at 24,050.50 and the 30-share index gained 1.2% to 77,550.25.
US Market Recap
S&P 500 dropped on Friday, however witnessed its best week since November, ahead from ceasfire talks between US and Iran. The index dropped 0.11% to settling at 6,816.89, while Nasdaq Composite move up, 0.35% to 22,902.89, primarily due to tech stocks including Nvidia, CNBC reported.
Asian Market Update
Asia markets were down on Monday, as investors looked at US naval blockade on Iran's ports with Washington and Tehran talks failed to result into an agreement. The US plans to implement a blockade of all maritime traffic entering and leaving Iranian ports from Monday. Japan's Nikkei dropped 0.84%, the Topix fell 0.42%. South Korea's Kospi slid 1.83%, while the small-cap Kosdaq was down 1.43%, the report said.
Commodity Check
Oil surged with Brent crude gaining 8.6% to $103.16 a barrel amid tensions over the Strait of Hormuz, while West Texas Intermediate crude rose 8.6% to $104.83 a barrel. Spot gold dropped 1.8% to $4,665.88 an ounce, Bloomberg reported.
ALSO READ: Trade Setup For April 13: Nifty Bulls Eye 24,300 And 24,700 Resistance Levels
Business Updates
M&M (March)
- Total Sales: 1 lakh Units (+22.3% YoY)
- Total Production: 1.03 lakh Units (+13.2% YoY)
- Total Exports: 4,328 Units (+7% YoY)
- Adani Green (FY26)
- Operational Capacity: 19.3 GW (+35% YoY)
- Added Greenfield Capacity: 5.1 GW
Stocks In News
- Niva Bupa: The IRDAI has approved the transfer of shares by Investor Fettle.
- Sun Pharma: The company clarified that media reports regarding an Organon acquisition are speculative and there is no material information that requires disclosure.
- Jindal Poly: The company withdrew its demerger application from the exchanges and dropped the Global Nonwovens scheme due to delays, noting it will not impact financials.
- Muthoot Finance: The company will pay an interim dividend of Rs. 30 per share.
- Shriram Finance: The company received listing approval from the NSE and BSE for 47 crore MUFG shares, which will list on April 13 and remain under lock-in until October 13, 2026.
- M&M: The company's arms will sell their entire 99.04% stake in Erkunt Foundry.
- Amber Enterprises: The company acquired a 50% stake in Amber Resojet for a consideration of Rs. 1.7 crore.
- Swiggy: Co-founder Nandan Reddy has stepped down to pursue personal projects, while Chief Growth Officer Phani Kishan and Group CFO Rahul Bothra will join the board as Executive Directors.
- Apollo Hospitals: The company acquired an additional 7.8 lakh shares of Apollo Health and Lifestyle for Rs. 18.7 crore, taking its shareholding to 100%.
- Laxmi Organic: The company appointed Harshvardhan Goenka as Interim CFO following the resignation of Mahadeo Karnik.
- Avenue Supermarts: The company has allotted Commercial Paper worth Rs. 500 crore.
- ISGEC Heavy Engineering: The company received clearance from the air quality body to resume operations at its Muzaffarnagar unit.
- LIC Housing Finance: The company has appointed Sanjay Dayal as its Chief Operating Officer (COO).
- TVS Srichakra: The company and its US arm signed a USD 1.03 million pact for branding rights with Bristol Motor Speedway to enhance global visibility.
- L&T: The company's realty arm acquired a 100% stake in Intl Green Spaces for Rs. 1,123 crore.
- Gujarat State Petronet: The company received a rectified income-tax order, which cut its assessed income to Rs. 1,435 crore from Rs. 1,683 crore.
- Mahanagar Gas: The company appointed Praveer K Srivastava as Managing Director for a 5-year term starting April 30, replacing Ashu Shinghal.
- Torrent Pharma: The US FDA inspected the company's Gujarat unit from April 6-10 and concluded with zero observations.
- Coforge: The company received exchange approval for the preferential allotment of 9.3 crore shares at Rs. 1,815.91 per share for its Encora acquisition.
- Lupin: The company launched its Dapagliflozin Tablets in the United States.
- PC Jeweller: The company raised Rs. 447.6 crore by converting 10.6 crore warrants into equity, allotting 106.2 crore shares and increasing its paid-up capital to Rs. 971.05 crore.
- Panacea Biotec: The Mohali Tribunal ordered the reinstatement of 23 terminated workers, awarding them a wage revision and 50% back wages.
- SPML Infra: The company allotted 8.5 lakh shares at Rs. 215 per share upon the exercise of rights attached to warrants.
- Carborundum Universal: The company signed an 18 MWp solar PPA in Tamil Nadu and will acquire a 29.58% stake in Putrim Renewables for Rs. 6.5 crore.
- Ambuja Cements: The company allotted 1.3 crore shares to the shareholders of Sanghi Industries as part of their merger scheme.
- Embassy Developments: The stock was moved to ASM Stage-1 and will trade once a week; the NCLAT stay on the CIRP against the company continues, with the next hearing set for April 17.
- Garware Hi-Tech Films: The company launched new Graphic Films, Cloaking Films, and PDLC Smart Films.
- Epack Durable: The company received Rs 37.5 crore from the government under the PLI scheme.
- AstraZeneca Pharma: The company received CDSCO approval to sell and distribute Acalabrutinib tablets, which treat leukaemia and lymphoma.
- GE Vernova T&D: The Supreme Court dismissed the company's Special Leave Petition regarding a customs duty exemption on imports, but allowed an appeal before the Appeals Commissioner.
- Imagicaaworld Entertainment: The company signed a Rs. 65 crore loan pact with Axis Bank.
- Genus Power: The company announced its post-demerger cost split, with 90.05% allocated to Genus Power and 9.95% to Genus Prime.
- DCW: The company received trading approval for 5.37 crore equity shares under its amalgamation scheme, ready to list on April 13.
- Advait Energy: The company emerged as the L1 Bidder for an MVCC turnkey contract.
- ITDC: The company clarifies that its hotels have been under a disinvestment and PPP plan since 2016, and it has received no government directions regarding NMP 2.0.
- Pennar Industries: The company will issue 30 lakh warrants at an issue price of Rs 168 each, aggregating to Rs 50.4 crore.
- India Glycols: The NCLT has officially admitted the second-motion petition for the company's demerger scheme.
- PC Jeweller: The company has reduced its outstanding bank debt by approximately 14%, having successfully repaid the majority of its debt under the Joint Settlement Agreement.
- Genus Power: The company reports that GP Infra has allotted 5.1 crore shares to its shareholders under the demerger scheme, and Genus Prime Infra will apply for the listing of these shares on the BSE.
- Blue Dart Express: The company has identified and contained a low-severity cyber security incident linked to its parent group, noting that CERT-In has been notified and no customer or business data was impacted.
- Embassy Developments: Company to sell Sepset unit, which contributed ~0.85% revenue and reported negative net worth, to Pen India Limited for Rs.100 crore.
- Baazar Style Retail: Company has opened one new store of Express Baazar in Odisha. With this addition, the total number of stores as on date stands at 270.
- Jash Engineering: FY26 revenue at Rs,736 crore flat YoY amid US tariff, Middle East disruptions; FY27 revenue seen at Rs.875 crore with ~19% growth.
- Everest Industries: Company sells ~16.84 acres land to G Square Properties for ~Rs.100.8 crore; partial transfer completed.
- Texmaco Rail & Engineering: Hindalco awards Rs. 23.57 cr order for supply of one BTAP Rake and one Break Van
- Reliance Communications (RCOM): PMLA Adjudicating Authority confirms attachment of assets belonging to RCOM, Campion Properties Ltd & Reliance Realty Ltd
- Jyoti CNC Automation: French authorities initiate probe into subsidiary Huron Graffenstaden SAS over dual-use machinery export controls; bank accounts of ~EUR 4 mn seized
- GHV Infra Projects: Apco Infratech awards Rs. 1,250 cr EPC contract for development of expressway connectors from Jalna to Nanded, Maharashtra
ALSO READ: Buy, Sell Or Hold: Lupin, IDFC First Bank, Eicher Motors, IRFC, Eternal, Coal India — Ask Profit
IPO Update
Om Power
Day 2 (As of 5:00 PM)
Reports 0.71x overall subscription
QIBs at 1.18x
Retail at 0.58x
NIIs at 0.38x
Board Meeting
Anant Raj  - Financial Results
Trading Tweaks
From 10% to 20%: Prime Focus
From 10% to 5%: Sterlite Technologies
From 20% to 10%: India Tourism Development Corporation, Ola Electric Mobility
Short-Term ASM
List of securities shortlisted in Short - Term ASM Framework Stage: Gujarat Alkalies & Chemicals, Network People Services Technologies, Ola Electric Mobility
List of securities to be excluded from ASM Framework: RPSG Ventures (Moved from STASM to LTASM)
F&O Cues
Nifty Apr futures is up 1.04% to 24,110.00 at a premium of 59.4 points.
Nifty Options 13th Apr Expiry: Maximum Call open interest at 25,000 and Maximum Put open interest at 23,000.
Securities in ban period: SAIL, SAMMAANCAP
Currency Check
The rupee pared initial gains and settled for the day 17 paise lower at 92.68 (provisional) against the US dollar on Friday, weighed down by risks from rising global tensions, especially the US-Iran conflict.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.