Stock Market Today: All You Need To Know Going Into Trade On April 12

Asian markets are likely to open higher as U.S. markets traded in a narrow range ahead of inflation data that may signal whether the Federal Reserve will keep raising interest rates.

Futures for equity benchmarks in Australia and Japan rose, while contracts for Hong Kong were little changed. U.S. futures were marginally higher in early Asian trade.

The S&P 500 closed almost flat Tuesday, while the tech-heavy Nasdaq 100 fell for the fifth time in six days as investors assessed the likelihood of another rate increase in May.

Meanwhile, the yield on 10-year treasuries in U.S. was trading at 3.43%. Crude prices trade around $85-mark, while Bitcoin rose to 30,300-level.

At 6:29 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was up 0.09% at 17,802.5.

Indian benchmark indices—Sensex and Nifty—closed higher for the seventh consecutive day, logging their best stretch of gains in four months.

Indian rupee weakened against the U.S. dollar, falling below the 82-mark, amid demand for the greenback among importers.

Overseas investors in Indian equities remained net buyers for the eight day in a row on Tuesday. Foreign portfolio investors mopped up stocks worth Rs 342.84 crore, while the domestic institutional investors turn net sellers after a day and sold stocks worth Rs 264.02 crore, the NSE data showed.

Sula Vineyards: Business Updates for Q4 FY23 (YoY)

• The sales of company’s own brands increased 15% to Rs 104.3 crore.

• Wine tourism revenue increased 18% to Rs 12.4 crore.

• Own brands sales volumes were more than 1 million cases.

• Bharat Heavy Electricals/Titagarh Wagons: The BHEL-Titagarh Wagons consortium has received an order from Ministry of Railways for supply of 80 sleeper class Vande Bharat trains at Rs 120 crore per train, their comprehensive maintenance for 35 years, and upgradation of government manufacturing units and trainset depots.

• Time Technoplast: The company received an order worth Rs 54 crore from Indraprastha Gas for supply of CNG cascades made from Type-lV composite cylinders.

• Paras Defence and Space Technologies: Paras Anti-drone Technologies, a subsidiary of the company, signed an MoU with Spacekawa Explorations for indigenous developments and deployment of space intelligence, surveillance and reconnaissance payloads, including RF wideband software defined radio.

• Canara Bank: The bank will increase lending rates on six-month and one-year loans by 5 basis points, with effect from April 12.

• Adani Enterprises: The company incorporated a wholly owned subsidiary Pelma Collieries which will develop, build and operate coal washery, including coal handling systems.

• Sanofi India: The price of company’s insulin glargine brand Lantus has been reduced 21% on a weighted average basis after National Pharmaceutical Pricing Authority fixed the ceiling price for the cost to buyers. While it will impact sales, there will be no impact on profitability, the company said.

• Lumax Industries: The board approved Vineet Sahni’s resignation from the position of chief executive officer and senior executive director of the company with effect from close of business on April 14.

• HDFC Bank: The board of the bank will meet on April 15 to consider raising Rs 50,000 crore during the 2024 fiscal through perpetual debt instruments (part of AT1 capital), Tier II capital bonds and long-term bonds on private placement basis.

• Spandana Sphoorty Financial: The board of the company will meet on April 14 to consider and approve raising funds via privately placed non-convertible debentures.

• Delta Corp Q4 FY23 (Consolidated, YoY)

• Revenues up 4.05% at Rs 227.16 crore

• Ebitda down 12.78% at Rs 60.18 crore

• Ebitda margin at 26.5% vs 31.6%

• Net profit up 6.36% at Rs 51.17 crore

The first major company to declare its financial results for the quarter ended March will be Tata Consultancy Services Ltd. Along with it, Anand Rathi Wealth Ltd. and National Standard (India) Ltd. will announce their earnings for the last quarter of fiscal 2023 on Wednesday.

The quarterly earnings for TCS will be seen in the light of a global banking crisis and a possible recession in U.S. and Europe. The BFSI segment has been one of the major revenue earners for Indian IT bellwethers, whereas the western markets make up a lion's share of their business.

• Delhivery: Internet Fund III sold 1.18 crore shares (1.61%) at Rs 330 apiece.

• Venus Pipes: Ashish Rameshchandra Kacholia bought 4 lakh shares (1.97%) at Rs 750 apiece, Nuvama Wealth Finance sold 1.38 lakh shares (0.68%) at 750.02 apiece.

• SPEC: Vikram Jain bought 3 lakh shares (0.02%), State Bank of India sold 8.19 lakh shares (0.05%) at Rs 0.55 apiece.

• Sagar Cements: ICICI Prudential Mutual Fund bought 60.4 lakh shares (4.62%), PGIM India Mutual Fund sold 60.4 lakh shares (4.62%) at Rs 183.1 apiece.

• Nestle India

• Ex-Date Final Dividend: Varun Beverages

• Record Date Final Dividend: Varun Beverages

• Move Into Short-Term ASM Framework: Black Box

• Move Out Short-Term ASM Framework: Shivalik Bimetal Control

• Nifty April futures ended at 17,787, a premium of 105.50 points.

• Nifty April futures fell 4.94% and 9,689 shares in Open Interest.

• Nifty Bank April futures ended at 41,500, a premium of 521.80 points.

• Nifty Bank April futures fell 0.76% and 657 shares in Open Interest.

• Securities added to the ban period: Delta Corp

• Securities removed from the ban period: Nil

• Rupee closed 0.18% lower against the U.S. dollar at 82.13 on Tuesday, compared to Monday’s close of 81.98

• IndiGo - Expect Steady Q4; Business Momentum Remains Strong: ICICI Securities

• Ganesha Ecosphere — Multiple Growth Levers Ahead: HDFC Securities Initiates Coverage

• Maruti Suzuki - Product Launches To Drive Volume Outperformance: Motilal Oswal

• Book Publishers To Enter A Golden Era: Prabhudas Lilladher

• Kalyan Jewellers, Titan - Continuing Decent Demand Print For Jewellery In Q4: ICICI Securities

• IT, Digital Services Q4 Preview - Growth Weakening To Continue Due To Recent Banking Crisis: Dolat Capital

• Q4 FY23 Results Preview - Healthy But Lopsided; BFSI, Autos To Take The Lead: Motilal Oswal

• Pharma Q4 Preview — Decent Quarter Expected For Most Coverage Companies: Nirmal Bang

• Oil And Gas Q4 Results Preview - Operationally Strong Results Likely: Prabhudas Lilladher

• BFSI Q4 Results Preview - Yet Another Strong Quarter: Axis Securities

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