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Market opening - An Overview
Nifty futures on the Singapore Exchange traded 127 points, or 0.85 per cent, higher at 15,065 signaling that Dalal Street was headed for a positive start on Friday.
The dollar was pinned near milestone lows on Friday, and headed for a weekly loss, as traders’ initial concerns at taper talk in Federal Reserve minutes ebbed – with actual tapering seeming distant – while pandemic recovery boosted other currencies.
The rupee strengthened by 6 paise to end at 73.12 against the US dollar on Thursday, tracking the weakness in the American currency in the overseas market. At the interbank forex market, the local unit opened at 73.16 against the greenback and witnessed an intra-day high of 73.09 and a low of 73.17.
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Apollo Tyres: The tyre maker said it has received permission from the authorities to re-start operations at its manufacturing plant at Perambra in Kerala from May 21. On May 17, the company had informed about the closure of plant till May 23, 2021, pursuant to directives issued by the District Government authority.
Union Bank: The bank said it has raised Rs 1,447 crore through qualified institutions placement. The bank’s qualified institutions placement (QIP) issue had opened on May 17 at an issue price of Rs 33.82 per share.
Mindtree: The IT firm said it will acquire the NxT Digital Business from Larsen and Toubro for Rs 198 crore, a move that will enable the mid-sized IT firm to capture opportunities in the IoT and Industry 4.0 space.
Zee Entertainment: The company reported a consolidated net profit of Rs 272.36 crore for the quarter ended in March 2021. The company had reported a net loss of Rs 765.82 crore in the January-March quarter a year ago.