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Market Opening - An Overview
SGX Nifty futures were trading 0.58% lower at 17,764, signalling that Dalal Street was headed for a negative start on Thursday.
Asian stocks declined as minutes from the Fed fueled expectations of more aggressive future rate hikes. The Fed’s minutes indicated that the central bank is considering 50 basis points rate increases and reducing its bond holdings at a maximum pace of $95 billion a month.
Japan’s Nikkei and Topix plunged 2%, each. Hang Seng inched down 0.02% and CSI 300 was down 0.42%.
Indian rupee closed 43 paise lower at 75.75 against the US dollar on Wednesday.
FII/DII Trading Data (6-4-2022)
| Category | Buy Value | Sell Value | Net Value |
| FII/FPI | 6324.77 | 8604.74 | (2279.97) |
| DII | 6961.91 | 6338.99 | 622.92 |
| *All numbers are in INR crore | |||
Stocks in News Today
Reliance Industries Ltd (RIL): The company has set up electric vehicle (EV) charging infrastructure at its Mumbai campus to allow employees to charge their EVs free of cost. The Jio bp pulse zone at Reliance Corporate Park presently includes six chargers of different configurations to cater to both electric two-wheelers and four-wheelers.
HDFC Bank: The private sector lender is planning to raise funds of Rs 50,000 crore via bonds through private placements.
Hindustan Aeronautics (HAL): The company signed a memorandum of understanding (MoU) with Israel Aerospace Industries (IAI) to convert civil passenger aircraft to “multi mission tanker transport” (MMTT) aircraft in India.The move is expected to provide India’s defence ecosystem with new capabilities and cost effective solutions in the market.
Bharat Petroleum Corp Ltd (BPCL): The company has bought 2 million barrels of Russian Urals for May loading from trader Trafigura, two sources familiar with the purchase said, according to Reuters report.
Future Group: India’s apex court said that parties will approach the tribunal led by the Singapore International Arbitration Centre (SIAC) to resume arbitration proceedings in connection with the merger deal of FRL with Reliance Retail. The Bench also said that Future Retail’s plea for termination of proceedings before SIAC will also be heard on priority.
Titan Company: The consumer durable retailer said that its jewellery business in Q4FY22 declined by 4 per cent YoY, despite the addition of 16 stores in the quarter. However, watches and wearables business registered 12 per cent growth YoY with addition of 34 stores. Its eyecare segment reported 5 per cent growth.
Tata Steel: The company will acquire entire equity stake of Steel Authority of India held in S&T Mining Company, a Joint Venture between SAIL and the company. On completion of the acquisition, S&T Mining will become a wholly owned subsidiary of Tata Steel.
Union Bank of India: The public sector lender said that it will sell its 8 per cent stake in India SME Asset Reconstruction Company.The stake sale is subject to obtaining requisite regulatory approvals, it added.
Vodafone Idea: The telecom operator has partnered with job platform Apna, English learning platform Enguru and government exam preparatory platform Pariksha to enhance engagement with users, specially the job aspirants, and reduce customer churn on the network. nder the partnership with Apna, Vi customers will not pay any fee for accessing services and they will get higher visibility for jobs compared to other aspirants.
Coffee Day Enterprises Ltd: The company said it has defaulted a total of Rs 479.68 crore on repayment of loans and unlisted debt securities in the quarter ended March 31, 2022. It has defaulted Rs 224.88 crore on repayment of loans or revolving facilities like cash credit from banks and financial institutions. Also, there has been a default of Rs 200 crore on payments of unlisted debt securities.
IDFC: IDFC and a consortium comprising Bandhan Financial Holdings, GIC and ChrysCapital have entered into a definitive agreement to acquire IDFC Asset Management Company and IDFC AMC Trustee Company, from IDFC, for Rs 4,500 crore. The company has declared an interim dividend of Re 1 per equity share.
Motherson Sumi Systems: The company has completed acquisition of a 55 percent stake in CIM Tools Private Limited, one of the leading suppliers in aerospace supply chain based in Bengaluru. CIM will hold 83 percent in Aero Treatment (ATPL) and 49.99 percent in Lauak CIM Aerospace (JV with Lauak International, LCA). The three founders, Srikanth GS, Umesh AS and Vishwanath Deshpande, retain the remaining 45 percent stake in CIM.
Godrej Consumer Products: In India, the company expects to deliver close to double-digit sales growth in Q4FY22, driven entirely by pricing. Personal Care sustained its double-digit growth trajectory, primarily led by pricing in Personal Wash.
Zee Entertainment Enterprises: Investment firm Invesco said three funds managed by its developing markets investment team, including Invesco Developing Markets Fund, will sell up to 7.8 per cent of the share capital of the media major to align exposures to the firm with other funds managed by the team.
Macrotech Developers: The realty firm reported 51 per cent growth in its sales booking to record Rs 9,024 crore in the last fiscal on better demand for its residential properties. The company also said that it has clocked a sales booking of around Rs 5,000 crore in London business, taking the total to over Rs 14,000 crore.
Uma Exports: The company shares is epxected to list today. The 60-crore IPO was subscribed 7.67 times. The issue was open for subscription between March 28-30.