Stocks and bonds fell in Asia Wednesday after U.S. Federal Reserve officials hinted at a rapid paring of its balance sheet as part of its efforts to curb inflation stateside.
Shares declined in Japan, South Korea and Australia, while U.S futures remained volatile after a fall in Wall Street. U.S. 10-year yield rose to the highest level since 2019. The dollar was near a three-week peak. The Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50, fell 0.80% to 17,876 points as of 6:50 a.m.
Oil dipped toward $100 a barrel amid expectations of fresh sanctions on Russia, including a U.S. ban on investment in the country and a European Union ban on coal imports. Elsewhere, Bitcoin slipped below $45,000.
Stocks To Watch
Tata Steel: The company reported annual crude steel production of 1.9 crore tonnes--a growth of 13% year-on-year. During Q4 FY22, crude steel production rose 2% QoQ to 49 lakh tonnes. Deliveries grew 16% sequentially to 51.2 lakh tonnes-- the highest ever for a quarter.
TVS Motor: The Chennai-based automaker will collaborate with Jio-BP to explore creating public electric-vehicle solutions.
Marico: The maker of Parachute coconut oil expects “marginal growth” in profit in the quarter ended March as consumption trends remained subdued amid weak rural sentiment, and aggravating inflation in global commodities due to geopolitical tensions.
Adani Green/Adani Enterprisea: To consider raising funds on April 8 by way of a rights issue, preferential allotment, including a qualified institutional placement or through any other mode.
Ruchi Soya: The company has allotted 6.61 crore shares offered via its follow-on public offering. It raised a total of Rs 4,300 crore so far.
Gufic: Receives DCGI approval for Thymosin Alpha-1 as an add-on therapy for the treatment of moderate-to-severe Covid-19 patients requiring ventilator support.
Tata Consultancy Services: The Indian IT bellwether will build Kansas Department of Labor's unemployment insurance system transforming a legacy mainframe platform from the 1970s into a cloud-based system.
Tata Steel Long Products: Crude steel production in Q4 FY22 stood at 1.66 lakh tonnes, while volumes increased 6% year-on-year in the fiscal ended March 31, 2022.
Bandhan Bank: The lender's reported loans and advances grew 16% year-on-year to over Rs 1 lakh crore as on March 31, 2022. Total deposits grew 24% year-on-year to Rs 77.98 crore. The CASA ratio stood at 41.6% in Q4. Collection efficiency for March was 96%.
UGRO Capital: The company has filed a draft prospectus for public issue of non-convertible debentures up to Rs 100 crore.
Oriental Hotels: To consider declaration of dividend on April 15.
Dish TV: Received RBI nod to divest its stake in Sri Lankan arm.
Pledged Shares Details
Motherson Sumi Wiring India: Promoter Group Radha Rani Holdings PTE revoked a pledge of 34.42 lakh shares on March 30.
Steel Exchange India: Promoter Group Vizag Profiles revoked and created a pledge of 40 lakh shares on March 30.
Insider Trades
Geojit Financial Services: Promoter BNP Paribas SA sold 4.5 lakh shares between March 29 and March 30.
Who's Meeting Whom
Gland Pharma: To meet investors and analysts on May 19.
Bulk Deals
SBI Cards And Payment Services: CA Rover Holdings sold 2.61 crore shares (2.71% stake) at Rs 851.73 apiece.
Raj Rayon Industries: Santhosh Som Kumar Sirigiri sold 20,000 shares (0.87% stake) at Rs 2.83 apiece.
Transpek Industry: Blend Fund 2 bought 56,000 shares (1% stake) and Unifi AIF Blend Fund sold 56,825 shares (1.01% stake) Rs 2,000 apiece.
Trading Tweaks
Price Band Revised From 10% To 5%: Raj Rayon Industries
Price Band Revised From 20% To 10%: SML Isuzu
Record Date Interim Dividend: Wipro
Move Into Short-Term ASM Framework: SML Isuzu, Centrum Capital, Himadri Speciality Chemical
Money Market Update
The rupee ended Rs 75.33 at against the U.S. Dollar on Monday as compared to Friday's closing of 75.54.
F&O Cues
Nifty April futures ended at 17,996.35, a premium of 38.95 points.
Nifty April futures shed 2.38% and 5,333 shares in Open Interest.
Nifty Bank April futures ended at 38,019.90, a discount of 48 points.
Nifty Bank April futures shed 5.64% and 5,055 shares in Open Interest.
Research Reports
HDFC Bank-HDFC Merger - Best Of Both The Worlds: Nirmal Bang
Bulls And Bears - Market Clocks The Second-Best Returns In Last Seven Years: Motilal Oswal
Ambuja Cements Annual Report Analysis - Strength, Sustainability For A Green Future: Dolat Capital
Asian Paints - Acquisitions Strategy To Capture Customer Life Cycle: Centrum Broking
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
