Stock Market Today: All You Need To Know Going Into Trade On April 7

Stocks and U.S. equity futures declined Thursday as investors digested the minutes of the Federal Reserve's March meeting. the U.S. central bank is considering half-point rate increases and plans to pare its balance sheet by more than $1 trillion a year.

Equities in Japan, South Korea and Australia fell. Technology shares dragged as Nasdaq 100 logged its worst two-day loss in nearly a month. The Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50, fell 0.63% to 17,754.50 points as of 7:00 a.m.

Commodity markets were volatile to disruptions sparked by Russia’s war in Ukraine and efforts to curb raw-material costs.

Russia slipped closer to a technical default after foreign banks declined to process about $650 million of dollar payments on its bonds, forcing it to offer rubles instead.

Oil pared a sharp slump after International Energy Agency’s decision to deploy 60 million barrels from emergency stockpiles. Bitcoin. Brent crude hovered around $102 per barrel. Elsewhere bitcoin slipped to $43,200 levels.

• Zee Entertainment: The company’s shareholder Invesco will sell 7.8% stake in the company. Once bookbuild is complete Invesco will continue to own in at least 11% stake of the company.

• IDFC: The bank signed definitive agreement to sell IDFC asset management company and IDFC AMC trustee to consortium comprising Bandhan Financial Holdings, GIC and Chrys Capital for a consideration of Rs 4500 crore. It also declared interim dividend of Rs 1 per equity share, 10% of paid-up share capital.

• Godrej Consumer: The company reported sales growth in high single digit, driven entirely by pricing. Unprecedented commodity inflation and subsequent price hikes impacted volumes. Within categories, personal care sustained its double-digit growth trajectory, primarily led by pricing. On the profitability front, the company is expected to deliver lower year-on-year EBITDA margins due to input inflation and weak performance in Indonesia.

• Titan: The company’s overall revenue drops 3%. Revenue of its jewellery business dropped 4% YoY. Watches & Wearable business saw revenue growth of 12%. Eyecare, a relatively small business, recorded 5% growth over the previous year. Increase in sales from departmental stores and e-commerce led to a 21% YoY growth in fragrances and 67% growth in fashion accessories business. CaratLane, which is 72.3% owned by Titan, posted a 51% growth YoY.

• Tata Steel: The company has executed share purchase agreement to acquire entire equity stake of Steel Authority of India held in S&T Mining Company, a Joint Venture between SAIL and the company. On completion of the acquisition, S&T Mining will become a wholly owned subsidiary of the company.

• DCB Bank: The bank reappointed Murali M. Natrajan as the Managing Director & CEO, for further period of two years effective April 29, 2022.

• Motherson Sumi: The company has completed acquisition of 55% stake in CIM Tools.

• Bank of Baroda: The bank executed share purchase agreement to sell entire equity stake of 14% in India SME Asset Reconstruction Company.

• Maruti Suzuki: The company has voluntarily recalled 19,731 units of its EECO model to inspect and rectify incorrect marking of wheel rim size, if any, on the wheel in some of these vehicles. This issue has no implication on performance, safety or environment, the company said.

• HDFC Bank: To raise capital of Rs 50,000 crore via bonds through private placements.

• Max Financial Services: The company appointed Amrit Singh as the Chief Financial Officer effective May 1, after Mandeep Mehta resigned from the position.

• L&T Financial Services: To consider declaration of dividend and issuance of non-convertible securities on April 29.

• Union Bank of India: The bank executed agreement to sell stake of 8% in India SME Asset Reconstruction Company in favour of Dhansamridhi Finance.

• KNR Constructions: The company achieves financial closure for the development of six lane Chittoor-Thatchur Highway from Hybrid Annuity Mode under Bharatmala Pariyojana, Andhra Pradesh and Tamil Nadu.

• Adani Enterprise: The company has acquired 49% stake in of Jhar Mining Infra from ACB for Rs 2.45 lakh.

• Tata Communications: To consider declaration of dividend on April 21.

• Canara Bank: The bank executed agreement to sell stake of 4% in India SME Asset Reconstruction Company.

• Rama Steel Tubes: 4Q Sales Volume Up 50% YoY to 35,872 tonnes

Uma Exports: Shares to list today. The 60-crore IPO was subscribed 7.67 times. The issue was open for subscription between March 28-30.

• Jindal Steel & Power: Promoter Group OPJ Trading revoked a pledge of 17.11 lakh shares between March 31 and April 1.

• ICICI Lombard: To meet investors and analysts on April 21.

• Barbeque-Nation Hospitality: TNTBC as the trustee of Nomura India Stock Mother Fund bought 4.37 lakh (1.12%) shares at Rs 1150 apiece. Motilal Oswal Mutual Fund bought 2 lakh (0.51%) shares at Rs 1155.71 apiece. BNP Paribas Arbitrage bought 2 lakh (0.51%) shares at Rs 1166.81 apiece. ICICI Prudential Mutual Fund Units bought 17.02 lakh (4.37%) shares at Rs 1175 apiece. Massachussets Institute of Technology bought 4.96 lakh (1.27%) shares at Rs 1175 apiece. Tamara sold 27.55 lakh (7.08%) shares between Rs 1154.99 and Rs 1153.16 apiece. Pace sold 29.92 (7.69%) shares at Rs 1172.96 apiece.

• Price Band Revised From 10% To 5%: Adani Power

• Price Band Revised From 5% To 10%: GMR Power and Urban Infra

• Move Into Short-Term ASM Framework: Nalwa Sons Investments, Spandana Sphoorty Financial

• Move Out Of Short-Term ASM Framework: Ashapura Minechem

• Ex-Date Interim Dividend: Edelweiss Financial Services, Dwarikesh Sugar Industries, DISA India, EKI Energy Services

• Ex-Date Buyback: Filatex India

• Ex-Date Capital Reduction: Supreme Petrochem

The rupee ended Rs 75.75 at against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 75.33.

• Nifty April futures ended at 17,860.20, a premium of 52.55 points.

• Nifty April futures shed 7.23% and 15,814 shares in Open Interest.

• Nifty Bank April futures ended at 37,724, a premium of 91.2 points.

• Nifty Bank April futures shed 6.23% and 5,269 shares in Open Interest.