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Vodafone Idea raises Rs 4500 cr by allotting shares to following
Tata Sons sold 2.48 crore shares of Tata Consultancy Services (TCS) to the company during its recently concluded buyback offer, raking in a total Rs 11,163 crore at Rs 4,500 per share. Out of the total accepted shares by TCS, Tata Sons’ portion constituted 62.02 per cent of the buyback size. Tata Sons is the promoter of the company. After the buyback, its stake in TCS stood at 72.30 per cent compared to 72.19 per cent before the offer.
Nifty outperforms global peers
#MarketsWithETNOW | Nifty outperforms most global peers, rallying 19% in the financial year ending March 31, 2022… https://t.co/8t2kNoFV75
— ET NOW (@ETNOWlive) 1648710948000
India may see above normal temperature in April: Met department
Price as on 31 Mar, 2022 12:32 PM, Click on company names for their live prices.
Airtel, Tech Mahindra: The two firms will co-develop and market 5G use cases in India
Price as on 31 Mar, 2022 12:09 PM, Click on company names for their live prices.
Sensex today live: Index erases gains, slips 100 points
GAIL buyback of shares at Rs 190 per share
Price as on 31 Mar, 2022 11:37 AM, Click on company names for their live prices.
Govt of India invites global EOI for strategic disinvestment of Ferro Scrap Nigam, a 100% subsidiary of MSTC
Price as on 31 Mar, 2022 11:33 AM, Click on company names for their live prices.
IIFL Wealth zooms 8% as Bain Capital buys stake
The Boston-based Bain Capital will buy 24.98 per cent equity stake in the wealth management player for Rs 3,679.95 crore, whereas existing investors including General Atlantic and Prem Watsa’s Fairfax Holdings will offload their stake.
The deal will be executed at Rs 1,661 per share, which is at a marginal discount compared to the closing price IIFL Wealth’s share at Rs 1,666.50.
Ashoka Buildcon receives LOA from NHAI for Rs 1,079 crore project
Price as on 31 Mar, 2022 11:18 AM, Click on company names for their live prices.
Rupee will trade within a range of 75.30 to 75.90. Yesterday the buying was mostly on account of oil. Hoping today oil should be absent and we should see INR drifting a bit higher as we end the FY in the second session. Exporters should sit tight and sell at the higher end of the range for near term exports. Importers can buy anywhere below 75.65 for hedging their payables for the next 15 days.
– Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors
Most IT stocks trade marginally in the red
Price as on 31 Mar, 2022 10:48 AM, Click on company names for their live prices.
Info Edge (India) says unit invested Rs 5 million in NewInc Internet Services
Price as on 31 Mar, 2022 10:47 AM, Click on company names for their live prices.
Brokerages are largely positive on Axis Bank’s acquisition of Citibank’s consumer business for $1.6 billion, as the deal is sealed at less than $2 billion value that some reports suggested earlier and that it is likely to be return on equity (ROE) accretive. Analysts, however, believe a sharp rise in return on assets (RoA) is required for the banking scrip to see any rerating. CLSA said the deal, which covers loans, credit cards, wealth management and retail banking, will be 8-9 per cent book dilutive but would also be 150-basis points ROE accretive.
Apollo Hospitals falls on Nifty inclusion
Price as on 31 Mar, 2022 10:19 AM, Click on company names for their live prices.
Apollo Tyres clarifies on CCI raid
- We are fully cooperating with the anti-trust regulator’s investigation and have provided all the details required.
- We are of the firm view that we have acted and will continue to act in compliance with the competition laws.
- We would like to reiterate that the Company follows the highest level of governance practices and operates within the letter and by spirit of the law.
Retail investors could subscribe to the offer for sale (OFS) of ONGC for an upside of 20-30% in a year as the company’s near-term outlook looks bright amid increasing crude prices, said analysts. The stock with a dividend yield of 3.6% is currently trading at two times FY23 estimated EV/EBITDA, which is at a huge discount to its global peers and its own long-term average valuations. ONGC had an average dividend yield of 4.6% in the last five years.
Hopes of de-escalation in the war have proved to be short-lived and the uncertainties associated with the war continues. From the market perspective, there are two positives which may support the market. One, the sharp decline in dollar index from above 99 to 97.7 is positive for equity markets globally. Two, FPIs turning buyers with a good buy figure of Rs 1357 cr along with DII buying will impart resilience to the market. Reports of large crude releases from US’s strategic reserves may further soften crude prices.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Sector Watch: PSU Bank, Realty worst losers
Most active stocks on NSE
Price as on 31 Mar, 2022 09:20 AM, Click on company names for their live prices.
Sensex Hetmap: Top gainers & losers in opening trade
OPENING BELL: Sensex gains 80 points, Nifty above 17,500; Quess Corp rises 3%, Max Healthcare drops 5%
Pre-open session: Sensex gains 240 points, Nifty above 17,500
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 31 points, or 0.18 per cent, higher at 17,597.50, signaling that Dalal Street was headed for a positive start on Thursday.
Tech View: A breach of 17,500 must for sustained Nifty upside
Nifty50 on Wednesday fell short of touching the 17,500 mark on a closing basis, as it formed a small bullish candle on the daily chart, with a long lower wick, suggesting emergence of buying at low. Analysts said the psychological level needs to be taken out for any sustained upside. They see support for the index at 17,350 and 17,000 levels.
Euro at one-month high, yen set for worst month since ’16
The euro held at a one-month high against the dollar on Thursday, having rallied on hopes the war in Ukraine might be entering a new de-escalating phase, while the yen was set for its worst month since November 2016. The European single currency was at $1.1175 holding its highest in a month, having gained 1.7% so far this week. However, the yen resumed its decline on Thursday, with the dollar climbing 0.5% to as high as 122.45 yen.
Oil prices tumble more than $5 a barrel
Oil futures dived more than $5 a barrel on Thursday morning on news that the Biden administration is weighing releasing some 1 million barrels of oil per day from strategic reserves for several months in a bid to calm soaring crude prices. Brent futures were down $4.71, or 4.2%, to $108.58 a barrel and U.S. West Texas Intermediate futures were down $5.45, or 5%, to $102.74 a barrel at 0035 GMT.
Hong Kong stocks open with gains
Hong Kong stocks started Thursday slightly higher, extending the week’s rally after Chinese officials again pledged to stabilise the world’s number two economy. The Hang Seng Index edged up 0.14 percent, or 30.13 points, to 22,262.16. The Shanghai Composite Index fell 0.34 percent, or 11.06 points, to 3,255.53, while the Shenzhen Composite Index on China’s second exchange eased 0.56 percent, or 11.86 points, to 2,125.75.
Japan stocks open lower as Ukraine hopes recede
Tokyo shares opened lower Thursday on receding hopes for a breakthrough in the war in Ukraine and ahead of the Tokyo Stock Exchange’s market realignment next week. The benchmark Nikkei 225 index gave up 0.79 percent, or 221.22 points, to 27,806.03 in early trade, while the broader Topix index fell 0.80 percent, or 15.83 points, to 1,951.77.
US stocks fall, breaking a 4-day winning streak
Technology companies led stocks lower on Wall Street Wednesday, ending a four-day winning streak for the market, after an economic report stoked worries about the health of the economy. The S&P 500 fell 0.6% after having been down nearly 1.1% at one point. The Dow Jones Industrial Average slipped 0.2%, making it nearly all the way back from a 0.7% loss. The pullback was the indexes’ first lower close in five days. The tech-heavy Nasdaq composite fell 1.2%.
Rupee declines 17 paise against dollar as crude oil spikes
Snapping its four-day winning run, the rupee on Wednesday dropped by 17 paise to close at 75.90 against the US dollar due to month-end dollar demand from oil importers and concerns over inflation after crude oil prices rebounded. However, a strong rally in the domestic equities and foreign capital inflows capped the rupee’s loss, forex traders said.
Sensex, Nifty on Wednesday
Domestic stocks markets rallied on Wednesday on signs of de-escalation in Russia-Ukraine conflict. The 30 stock S&P BSE Sensex soared 740.34 points or 1.28 per cent to close at 58,683.99 points against its previous day’s close at 57,943.65 points. The broader Nifty 50 of the National Stock Exchange surged 172.95 points or 1 per cent to 17,498.25 points against its previous day’s close at 17,325.30 points.