After a smart recovery in the last session, market will open on a flat note today.
On Friday, U.S. stocks pushed toward all-time highs, the dollar strengthened and the Treasury yield curve flattened after a report showed the economy is adding jobs with few signs of inflation and President Donald Trump pressured the Federal Reserve to sustain growth.
Macro cues, poll for Assembly elections as well as earnings are some of the factors which will dictate trend in this week.
Industrial Production data for February and CPI Inflation for March will be released on April 12 after market hours.
Apart from that, the Foreign Exchange Reserve data for the week ended April 5, and Deposit and Bank Loan growth for the fortnight that ended on March 29 will be announced on the same date.
A much-awaited event, the general elections will begin with the first phase on April 11.
Nifty has taken support at 11550 and again joined bull run in the last day of the previous week.
🎯 News & Impact 🎯
Major Results Updates :
🎯 HDFC Q4 Update :
Loans assigned at Rs 2,418 crore versus nil, on a year on year basis. The income from dividend was up 62 % at Rs 537 crore versus Rs 332 crore. Profit on sale of investment in subsidiaries was up 15 % at Rs 314 crore versus Rs 272 crore.
🎯 HDFC Bank Q4 Update :
Advances up 24 % at Rs 8,19,500 crore versus Rs 6,58,300 crore, on a yearly basis. Deposits up 17 % at Rs 9,23,000 crore vs Rs 7,88,800 crore.
🎯 Lakshmi Vilas Bank and Indiabulls Housing Finance :
The Reserve Bank of India (RBI) on Saturday said it will examine the merger proposal of Lakshmi Vilas Bank and Indiabulls Housing Finance Ltd.
🎯 Torrent Pharma :
The U.S. FDA issued certain observations for Dahej unit during March Audit.
🎯 Zydus Cadila :
Received the tentative approval from the U.S. FDA to market Tofacitinib bTablets—a drug used to treat moderate to severe forms of rheumatoid arthritis.
🎯 Bank of Baroda :
Post amalgamation of Vijaya Bank and Dena Bank with BoB, the Government of India's stake increased to 65.37 %.
🎯 NIIT Tech :
Company said it will acquire Whishworks IT Consulting for Rs 287 crore. It will acquire 52.67 percent at first while the remaining will be acquired over the next two years.
🎯 NIIT Tech and NIIT :
Baring Private Equity Asia to acquire 30 percent stake in NIIT Technologies from NIIT Ltd.
🎯 Texmaco Rail & Engineering :
NCLT gave the approval for amalgamation of Texmaco Hitech. Bright Power projects with the company.
🎯 Infosys :
Company opened a new office in Switzerland to provide digital solutions to its customers in the turbomachinery and propulsion industry.
🎯 HG Infra-Engineering :
Company incorporated a new SPV to undertake HAM project in Haryana worth Rs.952.1 crore.
🎯 Vanta Bioscience :
Company's arm signed a non-exclusive service agreement with Emcure Pharma till 2022 for Rs 29 crores.
🎯 Future Consumer :
IFC and Verlinvest SA to invest Rs 210 crore and Rs 70 crore in the company by subscribing to compulsorily convertible debentures. Promoters to invest Rs 70 crore by issuing to warrants. These instruments will be converted into equity shares within 18 months at a value of Rs 45 per share.
🎯 Century Textile :
Company launched real estate project viz. Birla Vanya near Kalyan, Maharashtra.
🎯 Wockhardt :
Company plans to demerge its formulations business, dilute stake.
🎯 Kernex Micro systems :
Company received a Show Cause Notice from Directorate General of GST Intelligence Hyderabad Zonal Unit.
🎯 JSW Steel :
Company promoter group Danta Enterprises created pledge of 3.7 lakh shares on April 2.
Negative for the stock.
🎯 Max Financial Services :
Company promoter group Max Ventures Investment Holdings revoked pledge of 1 lakh shares on April 2.
Positive for the stock. 👍
🎯 JK Tyres:
Promoter pledged 4 crore equity shares (16.24 %) stake as security for loan.
Negative for the stock.
🎯 Sun Pharma :
launches ready-to-infuse INFUGEM in the US.
Company promoter group Shanghvi Finance revoked pledge of 43.75 lakh shares on April 3.
Positive for the stock. 👍
🎯 Jindal Steel & Power :
Company promoter group Danta Enterprises created pledge of 8.85 lakh shares on April 2.
Negative for the stock.
🎯 Jubilant Foodworks :
Company promoter Jubilant Consumer revoked pledge of 4.58 lakh shares on April 3.
Positive for the stock. 👍
🎯 MEP Infra :
MEP Infra Developers promoter group Sudha Mhaiskar revoked pledge of 23.5 lakh shares on April 4.
Positive for the stock. 👍
🎯 Infibeam Avenues :
Company promoter and director O3 Developers created a pledge of 26.06 lakh shares on April 2.
Negative for the stock.
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Edited by Sharp.
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