Market will open on a flat note today after a bullish rally yesterday.
U.S. stocks advanced as the rally in Treasuries eased and investors looked to China for the latest developments in the standoff over trade.
The Nifty not just reclaimed 11,550 on Thursday but also registered a fresh 6-month closing high. The IMD shared the possibility of strong monsoon provided no El Nino surprise. Besides, hopes of rate cut in the upcoming RBI's policy review meet further boosted the sentiment. A bullish engulfing candle was made on the daily chart for Nifty50. It will be very interesting to see whether Nifty crosses it's previous life high or profit booking on higher levels pushes it down before registereing new high. India fiscal deficit data for April-Feb. period to be released today.
🎯 News & Impact 🎯
New Listing : MSTC
🎯 Britannia will be replaced Hind petro in Nifty50.
🎯 Tata Power :
Company signed a power purchase agreement with BEST (Mumbai Area Municipality) for supply of 676.69 MW of power for a period of five years till March 2024. Another power purchase agreement was signed between the distribution business of the company and its generation arm for 700 MW of power till March 2024.
Positive for the stock. 👍
🎯 Lupin :
Company launched Fluocinonide Ointment, which is used for inflammation treatment. The company had received approval for this drug by the U.S. FDA earlier.
Positive for the stock. 👍
🎯 Wabco India :
Holding company said that it has entered into a definitive agreement to sell all of its outstanding shares in an all cash transaction at $136.5 per share aggregating to $7 billion to ZF Friedrichshafen.
🎯 SBI Life Insurance :
BNP Paribas sought to sell 5.1 percent take in SBI Life Insurance at Rs 575 apiece.
Negative for the stock.
🎯 HT Media :
NCLT gave approval for the demerger of its wholly owned arm Digicontent from the copy.
🎯 PFC-REC Deal :
Power Finance Corporation stated that it had acquired a 52.63 percent stake of share capital of REC, worth Rs 14,500 crore from the government and became the holding company and the promoter of REC.
🎯 HIL :
Company’s JV with its German Arm launched showroom for wooden products in China’s Shanghai.
🎯 EIH :
Company said its Agra’s Oberoi Amarvilas will be partially closed for renovation of 53 rooms from April 11 to Sept. 30.
🎯 Adani Logistics :
Company arm said it will acquire 100 percent stake in InLogistics (entity controlled by private equity firm True North) for Rs 331.5 crore.
🎯 Bharat Financial Inclusion :
Company completed its tenth direct assignment of Rs 837.4 crore. With this assignment, the company has completed transactions worth Rs 9,032.5 crore in financial year 2019.
🎯 Wipro :
Company signed an MoU with IIT Kharagpur for research on 5G Technology and Artificial Intelligence.
🎯 TCPL Packaging :
Company commenced commercial operation of its Goa unit from March 28.
🎯 Sheela Foam :
SBI MF buys 3.63 % stake in the company on March 27.
🎯 Indiabulls Integrated Services :
IRDA approves R1/first level approval for Indiabulls Integrated General Insurance business.
🎯 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.
🎯 Federal Bank :
Bank has entered into a partnership with Ripple Inc, a blockchain supported global remittance company, for cross border remittance through its network.
🎯 Apunka Invest Commercial :
Company invested Rs.99,84,000 in Panorama Studios Private Limited, increasing shareholding in same to 53.73 %.
🎯 Britannia Industries :
SBI MF acquired 12.97 lakh shares or 0.54 % equity at Rs 3,098.97 each.
🎯 Gruh Finance :
Promoter HDFC sold 1.22 crore shares or 1.67 % equity at Rs 260.08 each.
🎯 Future Retail :
Company promoter Future Corporate Resources created a pledge of 74.05 lakh shares on March 26.
Cautious over the stock.
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Edited by Sharp.
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