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PRE-MARKET REPORT
Gift Nifty was trading around the 22,465 level, a discount of nearly 140 points from the Nifty futures’ previous close, indicating a gap-down start for the Indian stock market indices
US stock market indices ended sharply lower on Friday after earnings of major US banks failed to impress and looming geopolitical tensions.
The Dow Jones Industrial Average declined 475.84 points, or 1.24%, to 37,983.24, while the S&P 500 fell 75.65 points, or 1.46%, to 5,123.41. The Nasdaq Composite closed 267.10 points, or 1.62%, lower at 16,175.09.
Asian markets slipped on Monday tracking losses in US equities amid ratcheting tensions in the Middle East.
Japan’s Nikkei 225 declined 1.28%, while the Topix dropped 0.97%. South Korea’s Kospi fell 0.92% and the Kosdaq plunged 1.58%. Hong Kong’s Hang Seng index futures indicated a weak opening.
STOCKS TODAY
Adani Enterprises: Adani Global, Mauritius, a wholly owned subsidiary of the company, has executed a shareholders’ agreement for acquiring a 49 percent stake in Adani Easysoft Smart Solutions, Abu Dhabi, from Easysoft Holding, UAE. Now, Adani and Easysoft Holding will hold 49 percent and 51 percent of Adani Easysoft Smart Solutions, with equal participation on the board of directors of Adani Easysoft Smart Solutions.
Anand Rathi Wealth: The wealth management company has recorded nearly 33 percent year-on-year growth in net profit at Rs 56.6 crore for the quarter ended March FY24, despite weak operating margin performance. Revenue from operations for the quarter grew by 29 percent to Rs 184.3 crore compared to the same period last year. The company said the board has approved a final dividend of Rs 9 per share for FY24 and the proposal of a buyback of equity shares worth up to Rs 164.65 crore of the company.
Wipro: FPEL Ujwal has issued equity shares to new off-takers and converted its existing optionally convertible debentures (OCDs) into equity shares. As a result of these transactions, Wipro’s shareholding in FPEL has diluted from 9.95 percent to 7.07 percent, with effect from April 11. In September 2023, Wipro signed a definitive agreement to subscribe for 9.95 percent equity share capital in FPEL Ujwal. The transaction was completed on October 10, 2023.
Aster DM Healthcare: The healthcare company has declared a special dividend of Rs 118 per share after the receipt of proceeds from the sale of the GCC business and redemption of redeemable preference shares issued to the company by Affinity Holdings, a wholly owned material subsidiary of the company.
Granules India: The US Food and Drug Administration (US FDA) inspected the company’s Unit V facility at Visakhapatnam on April 8 and April 12 and concluded the said audit with zero 483s. This audit was a pre-approval inspection (PAI) and cGMP audit for active pharmaceutical ingredients (APIs) and formulations (FDs), oncology and non-oncology. This facility manufactures APIs and formulations of oncology and non-oncology products.
IIFL Finance: The board of directors of the company will be meeting on April 17 to consider the specific terms of the rights issue, such as the rights issue price and related payment mechanism, the rights entitlement ratio, the record date, and the timing of the rights issue. In March, the board approved fundraising up to Rs 1,500 crore via a rights issue.
Sterlite Technologies: The company has raised Rs 1,000 crore via a qualified institution placement (QIP) issue as it has allotted 8,84,56,435 equity shares to eligible qualified institutional buyers at an issue price of Rs 113.05 per share.