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US President Donald Trump announced a two-week ceasefire with Iran, while foreign minister Seyed Abbas Araghchi confirmed that safe passage through the Strait of Hormuz in this time frame may be possible, given the United States halts all attacks on the Islamic Republic.
Following the announcement, oil prices fell sharply with Brent crude down 6% at $103 per barrel, while West Texas Intermediate (WTI), which correlates more with the US economy and markets dropped 15% to trade at $96 per barrel.
The GIFT Nifty, an early indicator for the benchmark Nifty 50, is up over 3% at 23,835 as of 6:50 a.m. Equity-index futures for the US (S&P 500) rose 0.08%, while Europe (Euro Stoxx 50) was down 1.07% respectively.
Indian Market Recap
Indian equity benchmarks erased morning losses and ended near day's high on Tuesday. The NSE Nifty 50 ended 0.75%, or 155 points, higher to close above 23,100 after falling as much as 1.1% to 22,719 during the session.
The BSE Sensex gained nearly 510 points to close above 74,600 after dropping as much as 1.1%, or 824 points, to 73,282 intraday. The benchmark indices extended declines for the fourth consecutive trading session.
In addition to the ceasefire announcement, the Indian stock market is expected to focus on Reserve Bank of India's (RBI) monetary policy announcement today, April 8.
US Market Recap
Wall Street's equity index futures gauges surged over 2% as traders weighed on lower oil prices will help to contain inflation and boost economic growth. US stocks rose amid hopes of diplomatic way out of the US-Iran war with S&P erasing 1.2% of the drop. With the fall in oil prices, expected to drive contain inflation, paving way for the Fed to cut rates, US Treasury yield curve bull steepened. The two-year yields fell seven basis points to 3.72%, while ten-year yields dropped four basis points to 4.25%, according to data collected by Bloomberg.
Asian Market Update
Asian market rallied following the ceasefire announcement, pushing the oil prices down. The surge was led by South Korea's Kospi up 5.3%, while Kosdaq rose 3.4%. Japan's Nikkei surged 4.5% and Topix was up 3.2%, according to data cited in CNBC.
Commodity Check
In addition to the slump in oil prices, gold rose over 3% trading above $4,850 an ounce. Silver prices have also rose with ceasefire announcement with May Silver Futures surged over 6% to $76 per ounce.
Business Update
Zota Health Care
Q4 business update
Total stores increased by 11% YoY to 2,579 units.
COCO stores grew 15% YoY to 1,656 units.
FOFO stores grew 3% YoY to 923 units.
Ashiana Housing
Q4 & FY26 business update
Q4 book area stood at 11.19 lakh sq ft.
Q4 sold value at Rs. 1,289 crore vs Rs. 397 crore QoQ.
FY26 sales value at Rs. 2,421 crore, highest ever.
Indian Hotels Company
Portfolio Update
Total hospitality portfolio has expanded to 628 hotels.
Includes 373 hotels in active operations.
Pipeline of 255 hotels under development.
Stocks In News
- Alkem Laboratories: The company has introduced a new multivitamin supplement named 'A To Z Daily' in the domestic market.
- Aditya Birla Real Estate: The company reports that its real estate arm, Birla Estates, has successfully secured bookings worth Rs. 1,600 crore for its newly launched project in Gurugram.
- Thomas Cook India: The company has inaugurated a new franchise outlet in Guwahati as part of its strategy to expand its footprint in the Northeast region.
- Arvind SmartSpaces: The company has entered into a strategic pact for its largest high-rise residential project in Mumbai, which carries an estimated top-line revenue potential of Rs. 2,400 crore.
- SRF: The company clarified to exchanges that a recent income tax demand of Rs. 327 crore was generated erroneously due to a technical glitch on the tax portal.
- Biocon: The company has announced the commercial launch of its Denosumab biosimilars, branded as Bosaya and Aukelso, in the United States market.
- CleanMax Enviro: The company has successfully commissioned a 185 MW wind-solar hybrid power project in Kalavad, further strengthening its renewable energy portfolio in Gujarat.
- Muthoot Finance: The company's board of directors is scheduled to meet on April 10 to consider the declaration of an interim dividend, with April 13 set as the record date.
- Prince Pipes and Fittings: The company has successfully completed the acquisition of a new manufacturing facility located in Gujarat to boost its production capacity.
- GAIL India: The company has signed a strategic agreement with the Greek company Alpha Gas for the chartering of an LNG carrier.
- Infosys: The company has announced a partnership with Harness to accelerate AI-driven software delivery solutions for its enterprise clients.
- Dredging Corporation of India: The company has entered into a Memorandum of Understanding (MoU) with Colombo Dockyard PLC to collaborate on ship repair and shipbuilding infrastructure.
- Aurobindo Pharma: The company has received final approval from the US FDA to manufacture and market Dapagliflozin and Metformin Hydrochloride Tablets, used for glycemic control.
- International Gemological Institute: The company reports that the Registrar of Companies (ROC) has officially approved its name change to "International Gemological Institute Limited".
- Prostarm Info: The company has secured an Engineering, Procurement, and Construction (EPC) order worth Rs. 165 crore from Solarium Green Energy.
- Swan Defence: The company has secured a major order, valued between Rs. 1,500 crore to Rs. 3,000 crore, from Energy One for the construction of four ammonia bulk carriers.
- Oberoi Realty: The company reports that the National Company Law Tribunal (NCLT) Mumbai bench has officially approved its scheme of merger with Nirmal Lifestyle.
- LIC: The company's board is scheduled to meet on April 13 to consider a proposal for the issuance of bonus shares to its shareholders.
- Dr. Reddy's Laboratories: The company has entered into a definitive agreement to sell its subsidiary, Svass Wellness, for a total consideration of Rs. 2.2 crore.
- PDS: The company reports that PDS Brands has ceased to be a wholly-owned subsidiary following a recent corporate transaction.
- IKS Health: The company has announced the launch of its new audit-ready medical coding capabilities designed to enhance healthcare revenue cycle management.
- Shringar House: The company has marked its strategic entry into the lucrative gold bridal jewellery segment to diversify its product offerings.
- Aditya Birla Capital: The company has received approval from the Competition Commission of India (CCI) for a planned Rs. 2,250 crore investment in its housing finance arm, Aditya Birla Housing Finance.
- Lemon Tree Hotels: The company reports that the Competition Commission of India (CCI) has approved its internal corporate restructuring plans.
- Newgen Software: The company reports that a top court in Qatar has dismissed its appeal, rendering the firm liable to pay $1.37 million along with an additional QAR 200,000 as compensation for damages.
- Lupin: The company has got the US FDA approval for Dapagliflozin tablets.
Bulk & Block Deals
- ICRA: Nippon India Mutual Fund bought 72k shares at Rs. 5,075 per piece.
- MGL: Eastspring Investments India Equity Open sold 7.25 lakh shares at Rs. 957 per piece.
- Cello World: Goldman Sachs Fund - Goldman Sachs India Equity Portfolio sold 13.82 lakh shares at Rs. 401 per piece.
- GSP Crop Sciences: PSL bought 2.50 lakh shares & Longthrive Capital VCC - Gamma View Funds sold 2.50 lakh shares at Rs. 388 per piece.
- Sai Parenterals: Bhaskara Rao Bollineni bought 5.12 lakh shares at Rs. 409 per piece.
Lock In
Sedemac Mechatronics: 1 month lock in, 1 million shares, 3% of total outstanding shares.
Insider trade
C.E. Info Systems: Rashmi Verma Revised, Promoter, bought 46k shares.
List of securities shortlisted in Short - Term ASM Framework Stage: Suven Life Sciences
List of securities to be excluded from ASM Framework: Omnitech Engineering
Price Band
Price Band change from 10% to 20%: Antelopus Selan Energy, Apollo Micro Systems, Avanti Feeds, Balu Forge Industries, Gokaldas Exports, Garware Hi-Tech Films, Indo Count Industries, Jayaswal Neco Industries, Meesho, Onesource Specialty Pharma, Tejas Networks, Thangamayil Jewellery.
Price Band change from 5% to 10%: GNG Electronics, Epack Prefab Technologies, GK Energy, Indo Thai Securities, NACL Industries, Shreeji Shipping Global, SML Mahindra, Ujaas Energy.
F&O Cues
Nifty Apr futures is up 0.47% to 23,165.00 at a premium of 41 points.
Nifty Options 13th Apr Expiry: Maximum Call open interest at 25,000 and Maximum Put open interest at 20,100.
Securities in ban period: Sammaan Capital
Currency Check
The rupee depreciated 10 paise to close at 93.00 (provisional) against the US dollar on Tuesday, as investors remained on edge ahead of US President Donald Trump's deadline for the opening of the Strait of Hormuz and the Reserve Bank's monetary policy review.
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