Market Opens:
It is strong start for the Indices on Thursday with Nifty above 11,800 level.
At 09:19 hrs IST, the Sensex is up 106.15 points or 0.27% at 39381.79, and the Nifty up 25.80 points or 0.22% at 11813.00. About 529 shares have advanced, 384 shares declined, and 62 shares are unchanged
RIL, Wipro, Tech Mahindra, ICICI Bank, SpiceJet, Interglobe Aviation, HDFC, HDFC Bank, are the major gainers in the indices, while losers are Jet Airways, Infosys, TCS and Hindalco.
Rupee Opens :
The Indian rupee opened higher by 14 paise at 69.46 per dollar on Thursday versus Tuesday close of 69.60.
Rupee futures are expected to open higher around 69.55 against the dollar after robust economic data boosted the Chinese yuan to near nine-month highs. China's economy grew at a steady 6.4 percent pace in the first quarter, defying expectations for a further slowdown, as industrial production surged and consumer demand showed signs of improvement. Yuan climbed 0.4% yesterday after the country’s first-quarter economic growth beat forecasts and March industrial output rose by the most in four years and maintained its advance to near nine-month highs of 6.6890 to the dollar.
Global Markets :
US markets end lower:
US stocks ended slightly lower on Wednesday as a drop in healthcare shares overshadowed a string of positive corporate earnings and upbeat economic data from the United States and China.
The US industrial production fell in March, slipping by 1% due to a drop in mining output. Factory output remained weak amid a slowing global economy and trade tensions with China. Investors are closely watching Chinese and European economic data for signals that global growth is recovering.
The release PMIs for the manufacturing and service sectors in Europe will provide the next indication of the strength of the European economy.
Wall Street shares ended in the red on Wednesday, with the S&P 500 falling 0.2 percent as a drop in healthcare equities outweighed upbeat economic data from the United States and China.
SGX Nifty :
Trends on SGX Nifty indicate a flat start for the broader indices in India, a gain of 3 points or 0.03 percent. Nifty futures were trading around 11,852-level on the Singaporean Exchange.
Asia trading mixed :
Asian shares were subdued on Thursday after a negative performance on Wall Street, with caution ahead of business surveys in Europe and Japan, and the Good Friday and Easter holidays keeping investors on the sidelines.
MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.08 percent, trading just below its highest since late July 2018 brushed on Wednesday.
Australian shares advanced a quarter of a percent while Japan's Nikkei was a shade lower.
Separate figures from China earlier in the day showed the world's second-largest economy grew at a steady 6.4 percent pace in the first quarter, defying forecasts for a slowdown. Attention is now turning to how much more stimulus Beijing will apply without triggering more financial risks.
In commodity markets, oil prices were slightly lower as U.S. government data overnight showed inventories drew down less than an industry report had suggested on Tuesday.
US crude was last down 8 cents at $63.68 a barrel, while global benchmark Brent crude futures dipped 7 cents to $71.55.
Spot gold held steady at $1,274.60 per ounce, hovering near its lowest for the year.
Domestic Markets :
Here are stocks that are in the news today:
Results on April 18: Reliance Industries, RBL Bank, DCB Bank, ICICI Lombard General Insurance Company, Tata Sponge Iron, Jay Bharat Maruti, Uttam Galva Steels, Majestic Auto, Amal, Andhra Pradesh Tanneries, B2B Software Technologies
Wipro Q4: IT Services revenue down 0.5 percent to Rs 14,586.5 crore versus Rs 14,665.6 crore. Company approves share buyback worth up to Rs 10,500 crore via tender offer and expects dollar revenue in Q1FY20 in the range of $2,046-2,087 million (a growth of -1% To +1% over Q4FY19).
Mindtree Q4: Profit grew 3.8 percent to Rs 198.4 crore, revenue rose 2.9 percent to Rs 1,839.4 crore, dollar revenue grew 4.2 percent to $262 million, constant currency revenue growth of 3.9 percent QoQ. The company crossed $1 billion in annual revenue.
Company recommended a final dividend of 40 percent (Rs 4 per share) for the financial year ended March 2019 and a special dividend of 200 percent (Rs 20 per share) to celebrate the twin achievements of exceeding $1 billion annual revenue milestone and the 20th anniversary of the company.
Ashoka Buildcon received letter of Award from Rail Vikas Nigam of Rs 443.23 crore
Granules Pharmaceuticals Inc. received USFDA approval for Acetaminophen 650 mg, extended release tablets
CRISIL March quarter: Consolidated profit fell to Rs 76.64 crore versus Rs 82.21 crore; revenue declined to Rs 415.79 crore versus Rs 419.95 crore YoY.
CRISIL: Company approved payment of an interim dividend of Rs 6 per share for the financial year ending December 2019.
Reliance Industries: Mitsui O.S.K. Lines will acquire a strategic stake in six group companies (each owning a very large ethane carrier) of RIL.
RIL: Saudi Aramco in talks to acquire up to a 25 percent stake in Reliance Industries' refining and petrochemicals businesses - Reuters
Reliance Retail in talks to buy out 259-year-old British toymaker Hamleys - Sources
Embassy Office Parks REIT to consider issuing NCDs on Private Placement basis on April 23
InterGlobe Aviation, SpiceJet in focus: Aviation Secretary said Directorate General of Civil Aviation advised airlines to keep fares on check & bring them down after it found air fares on 40 sectors 10-30 percent higher. 90 percent of Jet Airways slots vacant, being re-allotted temporarily.
Jet Airways: Company suspends all operations temporarily.
Cipla: Company to buy 30 percent share in Brandmed at upfront payment of (South African) 65 million rand.
Bandhan Bank: CCI approves merger of Gruh Finance with Bandhan Bank.
Eris Lifesciences: Completed consolidation of shareholding in the subsidiary, Kinedex Healthcare completed.
Sadbhav Infrastructure Project: Sadbhav Vizag Port Road, a wholly-owned subsidiary of the company submitted draft financing documents to NHAI in relation to financial close.
ICICI Lombard General Insurance Company: ICRA reaffirmed the iAAA rating to the claims-paying ability of the company.
Tata Communications appoints Pathmal Gunawardana as its new Americas chief
Cadila Healthcare: Zydus received final approval from the USFDA for Acetazolamide for injection.
Star Cement received Rs 174.48 crore towards its freight subsidy claims from the Central Government
Hindalco Industries: Toyota selected company's subsidiary Novelis as an aluminum supplier for 2019 vehicle RAV4.
JM Financial Products' secured NCD issue to open on April 22, 2019
Weizmann Forex: Board considered the appointment of 3 additional directors and resignation of directors.
Intellect Design Arena: Ithala SOC, licensed financial services and registered credit provider based in South Africa chose Intellect Digital Core to power their digital transformation.
Cadila Healthcare: Zydus announces Phase 3 trial of Desidustat in non-dialysis dependent chronic kidney disease (CKD) patients with anaemia.
Foods & Inns fixed May 2 as record date for bonus share issue
Sasken Technologies to consider share buyback on April 23
Out of F&O ban: DHFL, Wockhardt
Analyst or Board Meet/Briefings
Aurionpro Solutions: Earnings Call to be held on May 3.
Tube Investments of India: Company will announce its March quarter earnings on April 30.
Supreme Petrochem: Company will announce its March quarter earnings on April 26.
ABB India: Company will announce its March quarter earnings on May 7.
MRF: Company will announce its March quarter earnings on May 2.
Bulk Deals on April 16
Reliance Capital: Axis Trustee Services Limited sold 30,02,500 shares of the company at Rs 177.94 per share on the NSE.
Suumaya Lifestyle: Sanjeev Harbanslal Bhatia sold 4,32,000 shares of the company at Rs 28.63 per share on the NSE.
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