Market opens :
Indian indices opened higher on Tuesday with Nifty above 11,600 mark.
At 09:17 hrs IST, the Sensex is up 38.43 points at 38683.61, while Nifty up 20 points or 0.17% at 11614.50. About 386 shares have advanced, 294 shares declined, and 31 shares are unchanged.
IndusInd Bank, ITC, Cipla, Lupin, Zee Entertainment, Tata Steel, are among major gainers on the indices, while losers are Gail, BPCL, IOC, HPCL, Yes Bank, PC Jewellers, Reliance Infra, Reliance Communications and Indiabulls Housing.
Among sectors, except energy and IT all other indices are trading in green.
Rupee Opens :
The Indian rupee opened marginally higher at 69.62 per dollar on Tuesday versus previous close 69.67.
Global Market :
SGX Nifty :
Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a rise of 5 points or 0.04 percent. Nifty futures were trading around 11,621-level on the Singaporean Exchange.
US Markets :
Wall Street ends mixed :
US stocks ended a low-volume trading session little changed on Monday, with the biggest gains in the energy sector as investors otherwise stayed on the sidelines ahead of quarterly earnings.
Asian Markets :
Asian shares were little changed on Tuesday, hovering not far from nine-month peaks hit last week, with concerns China may slow the pace of policy easing curbing the market’s enthusiasm.
Oil prices hovered near 2019 peaks in early trading on Tuesday after Washington abruptly moved to end all Iran sanctions waivers by May, pressuring importers to stop buying from Tehran.
Domestic Markets :
As many as 14 companies on the BSE will declare their results for the quarter ended March which include names like ACC, Indiabulls Real Estate, ICICI Securities, Tata Global Beverages and Sterlite Technologies among others.
Stocks in news:
Private equity player Blackstone has entered into a share purchase agreement (SPA) on April 22 to buy 51 percent of Essel Propack (EPL) at Rs 134 per share. Subsequently, an open offer has been made for 26 percent at Rs 139.19 per share. The stock closed at Rs 132.65
Lenders to the distressed steel assets of Uttam Value Steels and Uttam Galva Metallics on Sunday approved a Rs 2,400-crore resolution package in a staggered payment plan that requires banks to take haircuts of more than 60% on the loans.
Debt-laden Infrastructure Leasing & Financial Services (IL&FS) April 22 said GAIL (India) has emerged as the highest bidder for its seven operating wind power plants. The bidding process to these assets having 12 sites spread across seven states was launched in November last year.
ACC: PAT likely to grow by 44% YoY to Rs 353 crore
NSE to discontinue F&O contracts in 34 stocks from June 28:
Ajanta Pharma, Allahabad Bank, BEML, Can Fin Homes, CEAT, CG Power and Industrial Solutions, Chennai Petroleum, DCB Bank, Godfrey Phillips, Godrej Industries, GSFC, IDFC, IFCI, India Cements, Indian Bank, Infibeam Avenues, IRB Infrastructure, Jet Airways, Jain Irrigation, Kaveri Seed, Karnataka Bank, MRPL, NHPC, OBC, PC Jeweller, Repco Home Finance, Reliance Power, South Indian Bank, Suzlon Energy, Syndicate Bank, Wockhardt, Tata Communications, V-Guard Industries etc.
Tejas Networks Q4: Adjusted profit at Rs 34 crore versus Rs 4.8 crore, revenue rises to Rs 273.1 crore versus Rs 102.1 crore YoY.
Lux Industries Q4: Profit rises 23.8 percent to Rs 38 crore versus Rs 30.4 crore, revenue increases 15.9 percent to Rs 385.6 crore versus Rs 332.8 crore YoY.
AU Small Finance Bank Q4: Profit jumps 42 percent to Rs 118 crore versus Rs 83 crore, NII rises 34.9 percent to Rs 386.9 crore versus Rs 286.8 crore YoY.
Essel Propack: Blackstone to buy 51 percent from promoters of Essel Propack for Rs 134 per share and to make an open offer for 26 percent stake for Rs 139.19 per share.
Piramal Enterprises approved allotment of 1.36 crore shares pursuant to compulsory conversion of CCDs (compulsory convertible debentures) aggregating to Rs 3,668.64 crore
Cipla appoints Raju Mistry as president and global chief people officer
TCS: Company in pact with India Post to digitise postal services.
GAIL: Company emerges as highest bidder for wind assets portfolio of IL&FS, offers approximately Rs 4,800 crore for 100 percent of enterprise value for assets
Symphony surrendered the lease rights of Surat SEZ unit and received the consideration amounting to Rs 3.50 crores towards the same
Deepak Fertilizers: Board approves to raise up to $30 million via Foreign Currency Convertible Bonds.
Mcleod Russel: Company to sell 3 tea estates to Luxmi Tea for Rs 150 crore.
Suven Life Sciences: Company completed purchase of assets of Rising Pharma through its JV partner.
Analyst or Board Meet/Briefings
Hindustan Fluorocarbons board meeting on April 29 for approval of E-auction details received from MSTC on sale of 66 acres 13 gunthas of surplus vacant land
Sunteck Realty board meet on May 2 to consider raising of funds by way of debt or equity or any other convertible securities
Biocon board meeting on April 25 to consider bonus issue and a proposal for dividend
Hindustan Copper: Board to mull raising funds via QIP on April 25.
Texmaco Rail: Board to consider raising funds via equity on April 25.
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