Market will open on a flat note today.
India's factory output growth dropped to a 20-month low in February in a worrying sign for the country's growth prospects.
Data released by the statistics office on Friday showed factory output at 0.1 % in February, against 1.4 % in the previous month.
India's retail inflation stood at 2.86 % in March, higher than previous month's 2.57 %, on account of increase in prices of food articles and fuel, but it is still below RBI comforts level of 4 %.
U.S. stocks rose amid solid bank earnings and a major deal in the energy sector. Asian stocks began the week on a mostly positive note after earnings and Chinese economic data eased concerns about a slowdown in global growth Friday.
For the last 10 trading sessions, Nifty has been consolidating in the range of 11550 to 11,760. As stated earlier also, breakout of this range would give the signal of fresh momentum in the market.
Lising Today :
Metropolis Healthcare
Results Updates :
🎯 Infosys Q4 (QoQ) :
Revenue up 0.6 % to Rs.21,539 crore. Dollar revenue up 2.4 % to $3,060 million. Net profit (adjusted) up 2.2 % to Rs.4,078 crore.
EBIT down 4.4 % to Rs.4,618 crore.
🎯 TCS Q4 (QoQ) :
Dollar revenue up 2.8 % to $5,397 million. Revenue up 1.8 % to Rs.38,010 crore.
Net profit up 0.3 % to Rs.8,126 crore.
EBIT down 0.2 % to Rs.9,537 crore.
EBIT margin at 25.1 % versus 25.6 %.
🎯 News & Impact 🎯
🎯 Dr. Reddy's Laboratories :
Company entered into a definitive agreement to acquire a portfolio of 42 approved, non-marketed Abbreviated New Drug Applications (ANDAs) in the U.S.
Positive for the stock. 👍
🎯 Wockhardt :
USFDA issues no observation for company's bioequivalence centre at Aurangabad.
🎯 McLeod Russel India :
Wholly owned subsidiary to sell remaining 50 % stake in Pfunda Tea Company to Rwanda Tea Investments for $7.87 million (Rs.54.5 crore).
🎯 Eric Life Sciences :
Company pre-paid the entire loan facility obtained from Axis Bank.
Positive for the stock. 👍
🎯 Adani Power :
India’s power regulator has allowed Adani Power’s Mundra thermal power unit to pass on higher cost of imported coal that had made the project unviable.
Negative for the stock.
🎯 Suven Life Sciences :
Company receives court approval of 'Stalking Horse' Agreement to buy the assets of Rising Pharmaceuticals through its joint venture partner, Shore Suven Pharma Inc.
🎯 Jet Airways :
SBICAP Trustee has acquired 5.19 % stake, or 58.96 lakh shares in the company after a pledge of shares via encumbrance on April 11.
🎯 Dixon Technologies :
Company has acquired a 50 % stake in Padget Electronics for Rs.27 crore. The target company is into manufacturing of mobile phones.
🎯 Dilip Buildcon :
Company arm’s HAM project in Maharashtra received financial closure on April 11.
🎯 APL Apollo Tubes / Shankara Building Products :
Apollo tubes is set to acquire a production unit of Shankara Building Products’ arm in Hyderabad for Rs.70 crore.
🎯 GMM Pfaudler / Sudarshan Chemicals :
GMM executed a definitive agreement for acquisition of the Industrial Mixing Solutions Division of Sudarshan Chemical Industries for Rs.29 crore.
🎯 Bajaj Consumer :
Bajaj Consumer Care’s promoter Bajaj Resources revoked pledge of 81.34 lakh shares on April 10.
Positive for the stock. 👍
🎯 Adani Enterprises :
Company’s promoter group Gautam Adani revoked pledge of 11 lakh shares on March 29-April 10.
Positive for the stock. 👍
🎯 Adani Ports & SEZ :
Company's promoter Gautam Adani revoked pledge of 4 lakh shares on April 10.
Positive for the stock. 👍
🎯 Zee Learning :
Company’s promoters Jayneer Infrapower and Multiventures revoked pledge of 25.84 lakh shares from March 29-30.
Positive for the stock. 👍
🎯 Future Retail :
Company’s promoter Future Corporate Resources revoked pledge of 5.63 lakh shares and created pledge of 16.25 lakh shares from March 29-April 1.
Negative for the stock.
🎯 Gati :
Company’s promoter groups invoked 25.15 lakh shares on April 2.
Positive for the stock. 👍
🎯 Coffee Day Enterprises :
Company pledged 20 % of its shares in Mindtree to IDBI Trusteeship.
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Edited by Sharp.
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