Good morning!
The GIFT Nifty, an early indicator for the benchmark Nifty 50, is down 0.43% at 23,995.5 as of 6:17 a.m. Equity-index futures for the US (S&P 500) and Europe (Euro Stoxx 50) was up 2.51% and 5.02% respectively.
Indian Market Recap
Indian equity benchmarks posted their best closing in nearly a year on Wednesday as a temporary ceasefire between the United States and Iran eased market anxiety. The Reserve Bank of India's decision to keep repo rates steady pulled up bank, auto and realty stocks.
The Nifty 50 settled 873.7 points or 3.78% higher at 23,997.35. The BSE Sensex added over 2,900 points (3.95%) to close at 77,562.9. HDFC Bank, ICICI Bank and Larsen & Toubro were the top points contributors to the Nifty.
The broader markets matched the performance of the blue-chip gauges. The Nifty Smallcap 250 and Nifty Midcap 150 settled nearly 4% higher. On the BSE, over 3,700 stocks ended higher and 534 declined.
Among sectors, the Nifty Realty, Nifty Auto and Nifty Bank were the top gainers on the NSE.
US Market Recap
US stocks soared on Wednesday following the US-Iran ceasefire announcement, driving optimism in the global financial markets. The S&P 500 jumped 2.51% to 6,782.81, and the Nasdaq Composite soared 2.80% to 22,635. US Treasuries wiped out the early rally amid uncertainties over ceasefire. In New York afternoon trading, the 10-year yield was flat trading at around 4.3% after a fall of around 4.23%, according to data collected by Bloomberg.
Asian Market Update
Asian markets opened on a mix note on Thursday amid allegations by Iranian parliamentary speaker of violation of ceasefire terms by the US. South Korea's Kospi was down at 0.6% and small cap Kosdaq was flat. Japan's Nikkei rose 0.12%, while Topix was up 0.26%, according to CNBC.
Commodity Check
Oil prices rebounded after recording its highest one day drop since April 2020. Brent advanced to nearly $97 per barrel following a 13% drop on Wednesday and West Texas was also around $97. Gold remained steady following two-day gain, trading at $4,715 an ounce, rising 1.5% over the previous two sessions.
ALSO READ | Trade Setup For April 9: Nifty Bulls Eye 24,200 Breakout After Iran Truce Triggers D-Street Rally
Business Updates
Info Edge
Q4 business update
Jeevansathi business witnessed growth of 20.9% YoY.
Recruitment Solutions business grew 9.5% YoY.
99Acres business witnessed growth of 1.9% YoY.
Signature Global
Q3 business update
Pre-sales value fell 5% YoY to Rs. 1,540 crore.
Collections declined 22% YoY to Rs. 910 crore.
Area sold decreased 27% YoY to 9.9 lakh sq ft.
Number of units sold dropped 38% YoY to 368 units
Stocks In News
- Innovosion: The company has secured a Rs. 99 crore work order from NHAI for toll collection and facility maintenance.
- CRISIL: The company has fixed April 23 as the record date for the payment of its first interim dividend.
- Bosch: The company is set to acquire Bosch Chassis Systems India for Rs. 9,069 crore from its existing shareholder, Robert Bosch, making it a wholly-owned subsidiary.
- Clean Science: The company has subscribed to an additional 8.36 lakh shares of its arm, Clean Fino-Chem, for an investment of Rs. 50 crore.
- Lupin: The company has received US FDA approval for Dapagliflozin and Metformin tablets, which is a bioequivalent to Xigduo.
- Redtape: The company has acquired the rights to the 'Sprandi' footwear and apparel brand for the Indian, Nepalese, Bhutanese, and Sri Lankan markets.
- BSE: The company has received approval from SEBI to acquire a stake in a Section 8 company.
- NTPC: The company has signed an MoU with France's EDF to jointly develop nuclear power projects in India. Separately, the CEA has uprated its Dadri Power Station capacity to 500 MW from 490 MW, taking the group's total installed capacity to 89,128 MW.
- NHPC: The Cabinet Committee on Economic Affairs (CCEA) has approved the Rs. 26,070 crore Kamala Hydroelectric Project, which will receive an additional Rs. 6,834 crore in government funding and be implemented via a joint venture with the Arunachal Pradesh government.
- Amir Chand Jagdish Kumar (Exports): The company will establish a new subsidiary in Singapore to expand its specialty rice portfolio.
- Akzo Nobel: The company reports that its name will be officially changed on the stock exchanges to JSW Dulux starting April 15.
- KEC International: The company has secured new orders worth Rs. 2,518 crore across its Civil, Transportation, T&D, and Cables & Conductors businesses.
- Belrise Industries: The company has issued a corporate guarantee of GBP 13.9 million to back a term loan for its UK arm.
- RITES: The company has received an amendment to its Letter of Acceptance (LoA) from NALCO, increasing the order value to Rs. 119 crore from the initial Rs. 80 crore.
- Lemon Tree Hotels: The company has officially terminated its pact for a proposed hotel project in Agartala, Tripura.
- Info Edge: The company reports that the NCLT Delhi has allowed the first motion application for its scheme of merger with four of its arms.
- ACME Solar: The company reports that its arm has successfully achieved a capacity of 96 MW out of a planned 100 MW at its Gujarat unit.
Board Meeting
Anand Rathi - Bonus
IPO Open
Om Power Transmission
Co is a power transmission infrastructure EPC company with expertise in execution of high-voltage (“ HV”) and extra-high voltage (“EHV”) transmission lines, substations and underground cabling projects.
Opens on 9th Apr & closes on 13th April.
Total issue size of Rs. 150 crore.
Rs 133 crore fresh issue + Rs. 18 crore OFS.
Rs 11.21 crore to be used for capex.
Rs 25 crore to be used to repay borrowings.
Rs 55 crore to fund long-term working capital requirements.
Earnings In Focus
- TCS
- Anand Rathi
- GM Breweries
Bulk & Block Deals
JTL Industries: Abakkus Asset Manager bought 25 lakh shares at Rs. 53.99 a piece & 72 lakh shares at Rs. 54.54 a piece & Thakkar Nileshkumar Farshuram HUF sold 40.53 lakh shares at Rs. 53.10 a piece.
Uflex: First Water Fund bought 7.5 lakh shares & K2 Family Private Trust sold 7.5 lakh shares at Rs. 540 per piece.
Jindal Poly Films: Mace Ventures bought 2.85 lakh shares & M Prasad & Co bought 7.70 lakh shares & Seetha Kumari sold 10.55 lakh shares at Rs. 894 a piece.
Delhivery: Alphamine Absolute Return fund bought 5.7 lakh shares, Edelweiss Mutual Fund bought 5.7 lakh shares, ICICI Prudential Life Insurance Company bought 5.7 lakh shares, SBI Mutual Fund bought 45.75 lakh shares, BNP Paribas Financial Markets bought 11.4 lakh shares, Nippon India Mutual Fund bought 45.75 lakh shares while Nexus Ventures III sold 1.04 crore shares & Nexus Opportunity Fund sold 15.62 lakh shares at Rs. 442 a piece.
Apollo Pipes: Ace Infracity Developers bought 3.89 lakh shares at Rs. 444.81 a piece.
Asian Granito India: Beacon Stone Capital VCC - Beacon Stone I bought 29.75 lakh shares at Rs. 59.5 a piece.
ITC Hotels: GQG Partners Emerging Markets Equity Fund sold 1.28 crore shares at Rs. 152.67 a piece.
List of securities shortlisted in Short - Term ASM Framework Stage: Antelopus Selan Energy, Lux Industries
List of securities to be excluded from ASM Framework: NA
Price Band
Price Band change from 20 to 10%: Lux Industries.
Price Band change from 10% to 5%: Sri Lotus Developers & Realty, MSP Steel & Power.
F&O Cues
Nifty Apr futures is up 4.04% to 24,087.10 at a premium of 90 points.
Nifty Options 13th Apr Expiry: Maximum Call open interest at 25,000 and Maximum Put open interest at 21,000.
Securities in ban period: SAIL, SAMMAANCAP
Currency Check
The rupee appreciated 47 paise to close at 92.59 (provisional) against the US dollar on Wednesday after US President Donald Trump announced the suspension of military strikes against Iran for two weeks, and the Reserve Bank kept the key benchmark rate unchanged with a neutral stance.
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