Market Opens:
It is a strong start for the April F&O series on Friday with Nifty above 11,600 level.
At 09:18 hrs IST, the Sensex is up 171.30 points or 0.44% at 38717.02, and the Nifty up 49.60 points or 0.43% at 11619.60. About 592 shares have advanced, 203 shares declined, and 50 shares are unchanged.
The gainers are IOC, Indiabulls Housing, Hindalco, Wipro, Tech Mahindra, RIL, BPCL, Can Fin Homes, Vodafone Idea, Jet Airways, PFC, REC while losers include Axis Bank, IndusInd Bank, Eicher Motors, SBI life and Motherson Sumi.
Rupee Opens:
The Indian rupee gained in the early trade on Friday. It opened higher by 10 paise at 69.24 per dollar versus previous close 69.34.
On Thursday, the rupee declined 47 paise to end at 69.34 against the US dollar, registered a second straight session of fall.
The dollar-rupee April contract on the NSE was at 69.55 in the previous session. April contract open interest rose 9.38 percent in the previous session.
We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions.
Global Markets :
Asian markets trade higher:
Asian shares posted narrow gains on Friday on revived hopes of progress in US-China trade talks, while global bond yields moved higher after a prolonged slide on worries about the economic outlook.
SGX Nifty:
Trends on SGX Nifty indicate a negative start for the broader indices in India, a fall of 25 points or 0.21 percent. Nifty futures were trading around 11,645-level on the Singaporean Exchange.
Wall Street ends higher:
US stocks climbed on Thursday as Treasury yields rose off 15-month lows, with investors optimistic about the latest round of US-China trade talks.
Domestic Markets :
Here are stocks that are in the news today:
Listing: MSTC to list on exchanges
IPO: Rail Vikas Nigam IPO opens today.
NRB Industrial Bearings: Board approved the allotment of 17,50,000 cumulative, redeemable, non-convertible preference shares of Rs 10 each aggregating to Rs 1.75 crore of the company on private placement basis to Devesh Singh Sahney, Chairman, Managing Director and Promoter of the company.
Britannia Industries will replace Hindustan Petroleum Corporation in the Nifty50
PFC acquired govt stake in REC and became the holding company and also a promoter of REC
TCPL Packaging: Commercial production of company's new unit situated in Kundaim, Goa has commenced.
Andhra Bank approved the issuance of 114,56,72,061 equity shares to Government of India on preferential allotment basis at Rs 28.42 per equity share
Bharat Financial Inclusion: Company assigned a pool of receivables of an aggregate value of Rs 837.40 crore to one of the largest private sector banks on a Direct Assignment basis. With this transaction, the company has completed Direct Assignment transactions worth Rs 9,032.47 crore in FY19.
Indian Overseas Bank allotted 269 crore shares to Govt of India at Rs 14.12 per share
Kotak Mahindra Bank approves allotment of NCD worth Rs 150 crore
Lupin: Company launches Fluocinonide Ointment USP in the US. The drug is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroidresponsive dermatoses.
Sheela Foam: SBI MF buys 3.63 percent stake in the company on March 27.
Indiabulls Integrated Services: IRDA approves R1/first level approval for Indiabulls Integrated General Insurance business - CNBC-TV18 Sources.
Adani Enterprises: Adani Defence Systems and Technologies Limited - a wholly owned subsidiary of the company has incorporated a company namely Adani Rave Gears India Limited.
HT Media: NCLT approved a Scheme of Arrangement between the company and Digicontent Limited and their respective shareholders.
Wipro: Company and IIT Kharagpur partner for advanced research in 5G and AI.
Abhishek Finlease: Company appointed Mahendra M Shah as Chief Flnancial Officer.
Apcotex Industries: Board appointed Suraj Badale as the Chief Financial Officer.
Lincoln Pharmaceuticals: Board appointed Darshit Ashvinkumar Shah as a Chief Financial Officer.
Adhunik Industries: Board approved appointment of Ajay Bhuwania as Chief Financial Officer.
Jet Airways: Repayment of the external commercial borrowing, availed by the company for working capital purposes, falling due on March 28, has been delayed owing to temporary liquidity constraints and the company has engaged with the lender in relation to the same.
Tata Metaliks: Tata Steel acquired 27,97,000 equity shares, aggregating to Rs 1,79,56,74,000, and 34,92,500 convertible warrants, aggregating to Rs 2,24,21,85,000 of company on preferential basis. Tata Steel holding in company stands increased from 50.09 percent to 55.06 percent.
Federal Bank: Bank has entered into a partnership with Ripple Inc, a blockchain supported global remittance company, for cross border remittance through its network.
Adani Ports: Subsidiary Adani Logistics approved the proposal for acquisition upto 100 percent equity shares of Innovative 828 Logistics Solutions Pvt. Ltd. out of which 97.03 percent of shares will be acquired upon closing from True North and its affiliates and balance shares consisting upto 2.97 percent held by other shareholders within 60 days of the closing.
Tata Power: Company signed the Power Purchase Agreement (PPA) with Brihanmumbai Electric Supply and Transport Undertaking, for 676.69 MW of power supplied from its Trombay Thermal and hydro plants, for a period of five years.
HUDCO: Ministry of Housing and Urban Affairs accorded its approval for extension of tenure of M Ravi Kanth, as Chairman & Managing Director (CMD), HUDCO for a period of six months, or until further orders, whichever is earlier.
IL&FS Transportation Networks: Delhi High Court had dismissed the petition filed by NHAI and has affirmed the arbitral award passed in favour of Pune Sholapur Road Development Company Limited (PSRDCL), a subsidiary of company.
Apunka Invest Commercial: Company invested Rs 99,84,000 in Panorama Studios Private Limited, increasing shareholding in same to 53.73 percent.
Wabco India: WABCO Holdings Inc. entered into a definitive merger agreement with ZF Friedrichshafen AG.
Visagar Polytex: Board approved resignation tendered by Sagar Tilokchand Kothari from the position of Chief Financial Officer of the company.
HIL Limited: Parador (Shanghai) Flooring Trading Co., Ltd, China [JV of Parador GmbH, Germany (step down subsidiary of HIL International GmbH, Germany)] has opened its first showroom in Shanghai.
DB Corp: Stitex Global Limited, one of the promoter group companies of DB Corp, amalgamated with DB Consolidated Private Limited (another promoter group company.
Trent: Board passed an enabling resolution for raising of funds through issue of Commercial Paper upto an amount not exceeding Rs 100 crore, in one or more tranches.
Gateway Distriparks: Company allotted 5,500 rated, listed, secured, redeemable non-convertible debentures having face value of Rs 10,00,000 each, with coupon rate of 11.25% - 11.50%, for cash aggregating Rs 550 crore, to identified investors on private placement basis.
Analyst or Board Meet/Briefings
Eicher Motors: Company's officials will meet Banyan Tree Advisors Pvt Ltd on March 29.
Manappuram Finance: Company's officials will meet Fidelity Management & Research on March 29.
Garware Polyester: Board meeting is scheduled on April 5 to consider the appointment of Chief Financial Officer (CFO) of the company.
ICICI Lombard General Insurance Company: Board meeting is scheduled on April 18 to consider the Audited Financial Results for the quarter and financial year ending on March 31, 2019 and to consider recommendation of dividend, if any, for the financial year ending on March 31, 2019.
Kolte-Patil Developers: Board meeting will be held on March 31 to consider declaration of interim dividend for the financial year 2018-19.
Adhunik Metaliks: Board meeting is scheduled on April 2 to consider issue equity shares/other convertible securities on preferential basis.
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