Monday, 12 April 2021

10 things you need to know before the opening bell on April 12 News, India news, letest news, entertament news

April 12, 2021    No comments

 The Indian market is likely to open lower on Monday as the trend on SGX Nifty indicates a negative start for the broader index in India. The Nifty futures were trading 141.50 points or 0.95 percent lower at the 14,730.50 level on the Singaporean Exchange at 7:45 am.


1. Wall Street | The S&P 500 and the Dow notched record closing highs on Friday after solid US inflation data and an uptick in Treasury yields suggested the economic recovery from the pandemic-related recession was gaining momentum. The Dow Jones Industrial Average rose 297.03 points, or 0.89 percent, to 33,800.6, the S&P 500 gained 31.63 points, or 0.77 percent, to 4,128.8 and the Nasdaq Composite added 70.88 points, or 0.51 percent, to 13,900.19. (Image: Reuters)
1. Wall Street | The S&P 500 and the Dow notched record closing highs on Friday after solid US inflation data and an uptick in Treasury yields suggested the economic recovery from the pandemic-related recession was gaining momentum. The Dow Jones Industrial Average rose 297.03 points, or 0.89 percent, to 33,800.6, the S&P 500 gained 31.63 points, or 0.77 percent, to 4,128.8 and the Nasdaq Composite added 70.88 points, or 0.51 percent, to 13,900.19. (Image: Reuters)
2. Asian markets | Asian shares started cautiously on Monday as investors wait to see if US earnings can justify sky-high valuations, while bond markets could be tested by what should be very strong readings for US inflation and retail sales this week. MSCI’s broadest index of Asia-Pacific shares outside Japan was off 0.05 percent in slow early trade. Tokyo’s Nikkei edged up 0.1 percent, while South Korean stocks rose 0.2 percent. (Image: Reuters)
2. Asian markets | Asian shares started cautiously on Monday as investors wait to see if US earnings can justify sky-high valuations, while bond markets could be tested by what should be very strong readings for US inflation and retail sales this week. MSCI’s broadest index of Asia-Pacific shares outside Japan was off 0.05 percent in slow early trade. Tokyo’s Nikkei edged up 0.1 percent, while South Korean stocks rose 0.2 percent. (Image: Reuters)
3. Indian market on Friday | The Indian equity market ended lower on Friday dragged by losses in metals, private banks and auto stocks. The Sensex ended 154.89 points, or 0.31 percent lower at 49,591.32, while the Nifty fell 38.95 points, or 0.26 percent, to close at 14,834.85. Broader markets outperformed the benchmarks as midcap and smallcap indices ended higher. Among sectors, Nifty Pharma rallied the most, over 3 percent, followed by Nifty PSU Banks, Nifty IT and Nifty FMCG, while metal, private bank, financial services and auto indices ended in the red.
3. Indian market on Friday | The Indian equity market ended lower on Friday dragged by losses in metals, private banks and auto stocks. The Sensex ended 154.89 points, or 0.31 percent lower at 49,591.32, while the Nifty fell 38.95 points, or 0.26 percent, to close at 14,834.85. Broader markets outperformed the benchmarks as midcap and smallcap indices ended higher. Among sectors, Nifty Pharma rallied the most, over 3 percent, followed by Nifty PSU Banks, Nifty IT and Nifty FMCG, while metal, private bank, financial services and auto indices ended in the red.
4. Crude oil | Oil prices fell around 2 percent last week as production increases and renewed COVID-19 lockdowns in some countries offset optimism about a recovery in fuel demand. Brent was quoted up 33 cents on Monday at $63.28 a barrel, while US crude added 25 cents to $59.57.
4. Crude oil | Oil prices fell around 2 percent last week as production increases and renewed COVID-19 lockdowns in some countries offset optimism about a recovery in fuel demand. Brent was quoted up 33 cents on Monday at $63.28 a barrel, while US crude added 25 cents to $59.57.
5. Rupee | The rupee depreciated by another 15 paise against the US dollar to register its fifth loss in a row on Friday, facing headwinds on the economy front due to rising COVID-19 cases. Tumbling to its weakest level since November 4, 2019, the rupee settled at 74.73 against the US dollar. Besides concerns over COVID-19 resurgence, weak domestic equities and strengthening American currency also weighed on investor sentiment. At the interbank forex market, the local unit opened at 74.75 against the greenback and traded in the range of 74.53 to 74.96 during the day.
5. Rupee | The rupee depreciated by another 15 paise against the US dollar to register its fifth loss in a row on Friday, facing headwinds on the economy front due to rising COVID-19 cases. Tumbling to its weakest level since November 4, 2019, the rupee settled at 74.73 against the US dollar. Besides concerns over COVID-19 resurgence, weak domestic equities and strengthening American currency also weighed on investor sentiment. At the interbank forex market, the local unit opened at 74.75 against the greenback and traded in the range of 74.53 to 74.96 during the day.
6. FDI  | The government may hike foreign direct investment (FDI) limit in the pension sector to 74 percent and a Bill in this regard is expected to come in the next Parliament session, PTI reported quoting sources. Amendment to Pension Fund Regulatory and Development Authority (PFRDA) Act, 2013 seeking to raise FDI limit in the pension sector may come in the monsoon session or winter session depending on various approvals, sources said. Currently, the FDI in the pension fund is capped at 49 percent. Besides, sources said, the amendment Bill may contain separation of NPS Trust from the PFRDA.
6. FDI  | The government may hike foreign direct investment (FDI) limit in the pension sector to 74 percent and a Bill in this regard is expected to come in the next Parliament session, PTI reported quoting sources. Amendment to Pension Fund Regulatory and Development Authority (PFRDA) Act, 2013 seeking to raise FDI limit in the pension sector may come in the monsoon session or winter session depending on various approvals, sources said. Currently, the FDI in the pension fund is capped at 49 percent. Besides, sources said, the amendment Bill may contain separation of NPS Trust from the PFRDA.
7. Telecom PLI  | The Department of Telecommunications (DoT) is likely to issue guidelines on the implementation of production-linked incentive (PLI) schemes for manufacturers in the sector and start inviting applications for the same in about a week, according to government officials. Telecom gear makers firms such as Ericsson and Nokia are keen to expand their operations in India, and global companies like Samsung, Cisco, Ciena and Foxconn have ”shown interest” to set up manufacturing bases in the country for telecom and networking products for domestic and export markets.
7. Telecom PLI | The Department of Telecommunications (DoT) is likely to issue guidelines on the implementation of production-linked incentive (PLI) schemes for manufacturers in the sector and start inviting applications for the same in about a week, according to government officials. Telecom gear makers firms such as Ericsson and Nokia are keen to expand their operations in India, and global companies like Samsung, Cisco, Ciena and Foxconn have ”shown interest” to set up manufacturing bases in the country for telecom and networking products for domestic and export markets.
8. FPIs  | Foreign portfolio investors (FPIs) have withdrawn a net Rs 929 crore from Indian markets so far this month amid concerns over rising COVID-19 cases denting the economic recovery. The reversal of buying trend came after FPIs invested Rs 17,304 crore in March, Rs 23,663 crore in February and Rs 14,649 crore in January. According to the depositories data, overseas investors pulled out Rs 740 crore from equities and Rs 189 crore from the debt segment, taking the total net withdrawal between April 1-9 to Rs 929 crore.
8. FPIs | Foreign portfolio investors (FPIs) have withdrawn a net Rs 929 crore from Indian markets so far this month amid concerns over rising COVID-19 cases denting the economic recovery. The reversal of buying trend came after FPIs invested Rs 17,304 crore in March, Rs 23,663 crore in February and Rs 14,649 crore in January. According to the depositories data, overseas investors pulled out Rs 740 crore from equities and Rs 189 crore from the debt segment, taking the total net withdrawal between April 1-9 to Rs 929 crore.
9. Inflow into gold ETFs climbs over 4-fold to Rs 6,900 crore in FY21 | Heightened risk and uncertainty sparked by the COVID-19 pandemic elicited investors to rush to gold as safe haven as they infused over Rs 6,900 crore in gold exchange-traded funds (ETFs) in 2020-21, more than four times from the preceding fiscal. This also marks the second consecutive year of inflow. According to the Amfi data, investors put in a net sum of Rs 6,919 crore in 14 gold-linked ETFs in FY21, much higher than the Rs 1,614 crore invested in FY20.
9. Inflow into gold ETFs climbs over 4-fold to Rs 6,900 crore in FY21 | Heightened risk and uncertainty sparked by the COVID-19 pandemic elicited investors to rush to gold as safe haven as they infused over Rs 6,900 crore in gold exchange-traded funds (ETFs) in 2020-21, more than four times from the preceding fiscal. This also marks the second consecutive year of inflow. According to the Amfi data, investors put in a net sum of Rs 6,919 crore in 14 gold-linked ETFs in FY21, much higher than the Rs 1,614 crore invested in FY20.
10. US economy at an 'inflection point': Fed's Powell | The US economy is at an “inflection point” with expectations that growth and hiring will pick up speed in the months ahead, but also risks if a hasty reopening leads to a continued increase in coronavirus cases, Federal Reserve Chair Jerome Powell said. “There really are risks out there. And the principal one just is that we will reopen too quickly, people will too quickly return to their old practices, and we’ll see another spike in cases,” Powell said in the interview.
10. US economy at an 'inflection point': Fed's Powell | The US economy is at an “inflection point” with expectations that growth and hiring will pick up speed in the months ahead, but also risks if a hasty reopening leads to a continued increase in coronavirus cases, Federal Reserve Chair Jerome Powell said. “There really are risks out there. And the principal one just is that we will reopen too quickly, people will too quickly return to their old practices, and we’ll see another spike in cases,” Powell said in the interview.

Updated : April 12, 2021 08:50 AM IST | Market

Monday's top brokerage calls: Ambuja Cements, Infosys and more

Among brokerages, CLSA has an 'underperform' rating on Ambuja Cements and a 'sell' call on Biocon. However, it is bullish on Infosys. Here are the top brokerage calls for today:

CLSA on Ambuja Cements: The brokerage maintains an 'underperform' call on the stock with a target at Rs 320 per share. However, it sees the medium-term capacity target of 50 mt as a welcome change for the firm.
CLSA on Ambuja Cements: The brokerage maintains an 'underperform' call on the stock with a target at Rs 320 per share. However, it sees the medium-term capacity target of 50 mt as a welcome change for the firm.
CLSA on Infosys : The brokerage has a 'buy' call on the stock with a target at Rs 1,660 per share. The company is likely to consider a buyback proposal along with earnings on April 14.
CLSA on Infosys: The brokerage has a 'buy' call on the stock with a target at Rs 1,660 per share. The company is likely to consider a buyback proposal along with earnings on April 14.
CLSA on Biocon: The brokerage maintains a 'sell' call on the stock with a target at Rs 240 per share. It added that even a higher value of its biologics unit plus its stake in Syngene would still have limited upside.
CLSA on Biocon: The brokerage maintains a 'sell' call on the stock with a target at Rs 240 per share. It added that even a higher value of its biologics unit plus its stake in Syngene would still have limited upside.
Morgan Stanley on Cadila Health: The brokerage is 'overweight' on the stock with a target at Rs 460 per share. As per MS, gOpsumit and gImbruvica approvals underline its focus on complex portfolios.
Morgan Stanley on Cadila Health: The brokerage is 'overweight' on the stock with a target at Rs 460 per share. As per MS, gOpsumit and gImbruvica approvals underline its focus on complex portfolios.
CLSA on Consumer Sector: The brokerage expects optically strong Q4FY21 for consumer sector companies. It has HUL, ITC, Dabur, Varun Bev, Asian Paints and AB Fashion as key picks.
CLSA on Consumer Sector: The brokerage expects optically strong Q4FY21 for consumer sector companies. It has HUL, ITC, Dabur, Varun Bev, Asian Paints and AB Fashion as key picks.

CNBC-TV18's top stocks to watch out for on April 12

The Indian market is likely to open lower on Monday amid mixed cues from Asian peers. Concerns over rising COVID-19 cases in the country and fears of lockdown in certain states may also weigh on sentiment. At 7:05 am, the SGX Nifty was trading 51.00 points or 0.34 percent lower at 14,821.00, indicating a negative start for the Sensex and Nifty50.

TCS | The information technology services major will announce its Q4FY21 earnings today.
TCS | The information technology services major will announce its Q4FY21 earnings today.
Infosys | The company will consider the proposal for the buyback of equity shares on April 14.
Infosys | The company will consider the proposal for the buyback of equity shares on April 14.
Pharma stocks | Gilead has signed non-exclusive voluntary licensing agreements with pharma companies including Cipla, Dr Reddy’s Laboratories, Jubilant Lifesciences, Syngene, a Biocon company and Zydus Cadila Healthcare to manufacture remdesivir for distribution in 127 countries.
Pharma stocks | Gilead has signed non-exclusive voluntary licensing agreements with pharma companies including Cipla, Dr Reddy’s Laboratories, Jubilant Lifesciences, Syngene, a Biocon company and Zydus Cadila Healthcare to manufacture remdesivir for distribution in 127 countries.
Tata Communications | The company extend its partnership with Bahrain Internet Exchange to enable a next-generation OTN network for customers in Bahrain.
Tata Communications | The company extend its partnership with Bahrain Internet Exchange to enable a next-generation OTN network for customers in Bahrain.
Balrampur Chini Mills | The company’s board has approved a higher investment of Rs 425 crore for a new distillery plant of 320 kilolitres per day, which is expected to commence by December 2022.
Balrampur Chini Mills | The company’s board has approved a higher investment of Rs 425 crore for a new distillery plant of 320 kilolitres per day, which is expected to commence by December 2022.
Natco Pharma | The company’s marketing and distribution partner Alvogen Pine Brook LLC, has received tentative approval for its Abbreviated New Drug Application (ANDA) for Ibrutinib Tablets 560mg, 420mg, 280mg and 140mg strengths, from the US Food and Drug Administration (USFDA).
Natco Pharma | The company’s marketing and distribution partner Alvogen Pine Brook LLC, has received tentative approval for its Abbreviated New Drug Application (ANDA) for Ibrutinib Tablets 560mg, 420mg, 280mg and 140mg strengths, from the US Food and Drug Administration (USFDA).
JSW Steel | Life Insurance Corporation of India increased its stake in the company to 4.80 percent equity stake as of March 2021 from 4.02 percent shareholding held by LIC itself in the name of LIC New Endowment Plus-Growth Fund at the end of December 2020.
JSW Steel | Life Insurance Corporation of India increased its stake in the company to 4.80 percent equity stake as of March 2021 from 4.02 percent shareholding held by LIC itself in the name of LIC New Endowment Plus-Growth Fund at the end of December 2020.
AU Small Finance Bank | The RBI has approved the reappointment of Raj Vikash Verma as part-time chairman of the bank for two years.
AU Small Finance Bank | The RBI has approved the reappointment of Raj Vikash Verma as part-time chairman of the bank for two years.
Ansal Housing | The company said it faced multiple ransomware attacks on its IT system since February 26 this year, which may have resulted in some data loss.
Ansal Housing | The company said it faced multiple ransomware attacks on its IT system since February 26 this year, which may have resulted in some data loss.
Thermax | The company said that the winding up of subsidiary Thermax Sustainable Energy Solutions will not affect any business/accounting policies and will not have any significant impact on the financials.
Thermax | The company said that the winding up of subsidiary Thermax Sustainable Energy Solutions will not affect any business/accounting policies and will not have any significant impact on the financials.
Solara Active Pharma Sciences | The board of directors of the company approved the amalgamation of Aurore Life Science, Empyrean Lifesciences and Hydra Active Pharma Sciences with itself.
Solara Active Pharma Sciences | The board of directors of the company approved the amalgamation of Aurore Life Science, Empyrean Lifesciences and Hydra Active Pharma Sciences with itself.
Barbeque Nation Hospitality | UTI Mutual Fund acquired 1.7752 percent equity stake in the company via open market operations on April 8, taking its total shareholding in the company to 5.0188 percent.
Barbeque Nation Hospitality | UTI Mutual Fund acquired 1.7752 percent equity stake in the company via open market operations on April 8, taking its total shareholding in the company to 5.0188 percent.
Castrol India | Castrol and Ki Mobility Solutions have entered into an exclusive supply arrangement in India wherein Castrol shall supply lubricant products to Ki Mobility's multi-brand workshops.
Castrol India | Castrol and Ki Mobility Solutions have entered into an exclusive supply arrangement in India wherein Castrol shall supply lubricant products to Ki Mobility's multi-brand workshops.
Earnings Today | Tata Consultancy Services, HDIL, Cupid Trades & Finance, Lloyds Metals and Energy, among others.
Earnings Today | Tata Consultancy Services, HDIL, Cupid Trades & Finance, Lloyds Metals and Energy, among others.

IPL Orange Cap 2021: Shikhar Dhawan leads Prithvi Shaw and Suresh Raina

IPL 2021 is underway and cricket lovers have welcomed the biggest T20 cricket league in the world with open arms. Here are the top 5 run-getters so far in the season.

Rank: 1 | Player: Shikhar Dhawan | Team: Delhi Capitals | Matches: 1  | Runs:85 | Strike Rate: 157.40 (Image: AP )
Rank: 1 | Player: Shikhar Dhawan | Team: Delhi Capitals | Matches: 1  | Runs:85 | Strike Rate: 157.40 (Image: AP )
Rank: 2 | Player: Prithvi Shaw | Team: Delhi Capitals | Matches: 1 | Runs: 72 | Strike Rate: 189.47 (Image: AP )
Rank: 2 | Player: Prithvi Shaw | Team: Delhi Capitals | Matches: 1 | Runs: 72 | Strike Rate: 189.47 (Image: AP )
Rank: 3 | Player: Suresh Raina | Team: Chennai Super Kings | Matches: 1  | Runs:54 | Strike Rate: 150 (Image: AP )
Rank: 3 | Player: Suresh Raina | Team: Chennai Super Kings | Matches: 1  | Runs:54 | Strike Rate: 150 (Image: AP )
Rank: 4 | Player: Chris Lynn | Team: Mumbai Indians | Matches: 1  | Runs:49 | Strike Rate: 140(Image: IPLT20.com)
Rank: 4 | Player: Chris Lynn | Team: Mumbai Indians | Matches: 1  | Runs:49 | Strike Rate: 140(Image: IPLT20.com)
Rank: 5 | Player: AB de Villiers | Team: Royal Challengers Banglore | Matches: 1  | Runs:48 | Strike Rate: 177.77 (Image: IPL Twitter handle)
Rank: 5 | Player: AB de Villiers | Team: Royal Challengers Banglore | Matches: 1  | Runs:48 | Strike Rate: 177.77 (Image: IPL Twitter handle)

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