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Market Opening - An Overview
SGX Nifty futures 0.25% higher at 17,269.50, signalling that Dalal Street was headed for a positive start on Tuesday.
Japanese markets were trading higher as investors bought the dip. Nikkei 225 was up 0.12% and Topix rose 0.37%. Chinese markets were trading lower as investors weighed the government’s measures to support the economy. Hang Seng tanked 2.72% and CSI 300 fell 0.43%.
The Indian rupee fell 8 paise to 76.25 against the US dollar on Monday.
FII/DII Trading Data (18-4-2022)
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ACC, Larsen & Toubro Infotech, Mastek, Tata Steel Long Products, PCBL, Benares Hotels, Godavari Drugs, and Longview Tea Company.
Stocks in News Today
Mindtree: The IT services company registered a 49% year-on-year growth in March quarter net profit at ₹473 crore in Q4FY22 as against ₹317 crore in the same period last year. Net profit rose 8% sequentially. Its revenue rose 37.4 per cent YoY in Q4 to Rs 2,897 crore. The rise was attributed to higher demand for its cloud services and digital transformation deals.
Wipro: The IT firm has appointed Satya Easwaran, a former senior executive at consultancy KPMG, as its India head. He will be in charge of strengthening Wipro’s business in India across key industry sectors through strategic consulting, transformation and modernisation engagements.
Jindal Stainless Limited (JSL): The company will focus on investing in the renewable energy sector and will set up 300 MW solar and wind capacities in three states, its MD Abhyuday Jindal said. There will be no more investments in thermal energy, he said. The green energy generated from the project will be used to manufacture stainless steel as “we are expanding,” Jindal said.
Indiabulls Real Estate: The mortgage lender said it will utilise Rs 865 crore raised by issuing shares to institutional investors mainly for land acquisition and debt reduction. The Mumbai-based firm had launched its QIP (Qualified Institutional Placement) issue on March 7 and closed it on April 12.
Asahi Songwon Colors: The company acquired 78% stake in Atlas Life Sciences, a manufacturer of bulk pharmaceutical ingredients (APIs). Asahi will acquire an additional 11 percent stake in Atlas each year for the next two years based on performance metrics, taking total equity stake to 100 percent by the end of FY25.
Sanofi India: The company announced that its Board of Directors has appointed Rodolfo Hrosz as the Company’s new Managing Director with effect from June 1, 2022, subject to regulatory approvals. He will transition from being Sanofi’s General Manager, Consumer Healthcare business in Brazil to his new role in India.
Manappuram Finance: The Reserve Bank of India (RBI) has imposed a fine of over Rs 17 lakh on the non-banking finance company for violating KYC guidelines as well as norms related to prepaid payment instruments. The RBI had sent notice to the company advising it to show cause as to why penalty should not be imposed for non-compliance with the directions.
Ujjivan Financial Services: The company in its BSE filing said the board has appointed Radhakrishnan Ravi, as Chief Executive Officer (CEO) & Chief Financial Officer (CFO) of the company.