View on market: Stay Cautious, be with quality business:

Asian equities edged higher on the first day of a new quarter as investors assess U.S. President Joe Biden’s new plan. Equities tracked overnight gains on Wall Street. Benchmark indices in Japan and South Korea outperformed while those in Australia had more modest gains. The U.S. Dollar stabilised after posting its best quarter in a year while the treasuries held losses after its worst quarterly performance since 1980. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.72% to 14,852, as of 8:30 a.m.

Key Data/ Action, Result and Board meeting to watch

Major economic Data:

  • INR: Federal Fiscal Deficit (Feb) on 31th  March, 2021
  • INR: Infrastructure Output (YoY) (Feb) on 31st  March, 2021
  • USD : Pending Home Sales (MoM) (Feb) on 31th March, 2021
  • USD: Crude Oil Inventories on 31st March, 2021

International Markets:

U.S & Europe

Particulars    1st  April. Chg Chg(%)
Nasdaq 13,246.87 201.48 1.54
Dow 32981.55 -85.41 -0.26
FTSE 6,713.63 -58.49 -0.86
CAC 6,067.23 -20.81 -0.34
DAX 15,008.34 -0.27 0
Dow Fut.* 32,863.00 -35 -11

 

Asian markets:

Particulars       1st April. Chg Chg(%)
SGX Nifty 14,852.00 106 0.72
Nikkei 29,513.59 334.79 1.15
Straits Times 3,176.45 11.11 0.35
Hang Seng 28,609.42 231.07 0.81
Shanghai 3,453.07 11.16 0.32

 

   ADR Watch:

Particulars                 31th Mar.    Chg Chg(%)
Dr Reddy 61.39 0.27 0.44
HDFC Bank 77.69 -3.21 -3.97
ICICI Bank 16.03 -0.16 -0.99
Infosys 18.72 -0.08 -0.43
Tata Motor 20.79 0.27 1.32
Wipro 6.34 -0.05 -0.78

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 73.11 -0.37
Brent 62.98 0.38
Gold 173.45 -0.11
Silver 24.387 -0.59

 

FIIs & DIIs

Particulars 31st Mar 30th  Mar
FIIs -1685.91 769.47
DIIs 2081.52 2181.01

 

News Update:

Axis Bank:

Has entered into a share purchase agreement to sell 100% stake in Axis Bank U.K. Ltd. to OpenPayd Holdings Ltd. Sale to fetch an overall consideration of $5.5 million along with book value of the bank. Transaction likely to be completed by September 30, 2021, subject to approval from the U.K. financial regulator.

Wipro:

Announces acquisition of Australia-based Ampion for a cash consideration of $117 million. The transaction is expected to be completed during the quarter ending June 30, 2021. The deal is subject to regulatory approvals and customary closing conditions. Ampion is the provider of cyber security, development operations and quality engineering services in Australia.

HCL Technologies:

Has entered into an agreement with Tenneco for a multi-year, integrated application development, modernisation, and operations services contract.

Hindalco:

Novelis Inc announced the completion of offering of €500 million aggregate principal amount of 3.375% euro-denominated senior green notes due April 15, 2029 by Novelis Sheet Ingot GmbH, an indirect wholly-owned subsidiary of Novelis. The Notes are guaranteed, jointly and severally, on a senior unsecured basis, by Novelis, and by certain Novelis subsidiaries.

Hindustan Aeronautics:

Recorded a revenue in excess of Rs 22,700 crore for the financial year ended March 31, 2021 and posted a revenue growth of around 6%. Further, the company has ended the year with a positive cash balance of around Rs 6,700 crore as against borrowings of Rs 5,775 crore as on March 31, 2020.
Likhitha Infrastructures:

The company received a contract of Rs 34.63 crore from Indian Oil Adani Gas Pvt. Ltd. on March 31, 2021 for laying Pipeline from Thrissur Geographical Area to Ernakulam Geographical Area. Post this order, the company has received orders worth Rs 234.85 crore from various oil and gas distribution companies during Q4FY21.

Rossari Biotech:

Has fully operationalised all phases of its Greenfield manufacturing facility at Dahej, Gujarat. The Greenfield facility will have a total installed capacity of 132,500 MTPA. The facility will not only provide cost and logistical advantage but also double the company’s overall capacity. Rossari is confident of ramping up utilisation levels at Dahej courtesy a strong upcoming product Pipeline

Bodal Chemicals:

Has acquired Siel Chemical Complex situated at Rajpura in Punjab from Mawana Sugars. The operations from the said unit will be merged with Bodal Chemicals from April 1, 2021.

Bank of India:

Gets capital infusion of Rs 3,000 crore from the government.

Central Bank of India:

Divestment of entire stake in Cent Bank Home Finance to Centrum Housing Finance has been cancelled. The lender has also received capital infusion of Rs 4,800 crore from the government.

Indian Overseas Bank:

Gets capital infusion of Rs 4,100 crore from the government.

NHPC:

Has completed the formalities for the takeover of Rangit Stage-IV HE Project (120 MW) by remitting Rs 165 crore to the account of Jal power Corporation for distribution to the creditors as per the approved resolution plan. JPCL is now a wholly-owned subsidiary of  the company.

NTPC:

First part capacity of 70 MW of 85 MW Bilhaur Solar PV Project in Uttar Pradesh, is declared on Commercial Operation with effect from March 28

Godrej Properties:

Has increased its stake in Godrej Realty from 51% to 100% by acquiring equity shares from HDFC Venture Trustee Company. Subsequently, Godrej Realty has become a wholly-owned subsidiary of the company with effect from March 31.

Source: MoneyControl, Business Standard, Bloomberg,Investing

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