BUY RAYMOND ABOVE 907 TG 916/925 SL 897
BUY LAURUSLAB ABOVE 601 TG 607/613 SL 594
BUY JSW STEEL ABOVE 772 TG 780/777 SL 763
BUY RAYMOND ABOVE 907 TG 916/925 SL 897
BUY LAURUSLAB ABOVE 601 TG 607/613 SL 594
BUY JSW STEEL ABOVE 772 TG 780/777 SL 763
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After a long weekend, the indian stock market
ended the session lower today after weak global signals. At the close,
the sensex was down 1172 points to 57,166 & the nifty was
down 302 points, to 17173. Approximately 1454 stocks are up, 1990
stocks are down and 135 stocks are flat. The IT stocks fell over 4%,
trailed by infosys, which lost 7%, followed by mphasis, tech mahindra, mindtree
and tcs. Bank nifty shed over 1% while auto, metals, fmcg and power names were
bought.
Lower than expected results caused the market to worry about headwinds the IT
sector is facing such as churn, wage inflation, lower utilization and IT
spending cuts by industries due to geopolitical and macroeconomic issues. The
magnitude of the fall is high as the sector has traded at high valuations and
the risk of an outlook downgrade has increased.
IT INDEX FALLS OVER 4 %
The IT index plunged over 4%, with top IT names falling as much as 7 % lowered
Infosys' margin estimates on weaker-than-expected earnings for the March
quarter. At 9%, Infosys recorded the market's biggest drop since March 23,
2020. Jefferies India cut its margin estimates by 100 to 170 basis points to
account for the miss and expected a 21.9% margin in FY22.
OIL PRICES HIGHER
Oil prices rose on Monday as concerns mounted over tighter global supply,
with the deepening crisis in Ukraine raising the prospect of tougher Western
sanctions against its biggest exporter Russia. Brent futures were up 1.3%, to $113.20 a barrel by 0030 GMT, and US West Texas Intermediate
futures were up 0.9% to $107.93 a barrel. The International Energy Agency had warned
that from May about 3 million barrels per day of Russian oil could be trapped
due to sanctions or buyers voluntarily avoiding Russian cargoes.
TATA STEEL FUT ACHIEVED 1ST TARGET @ 1355 BUYING CALL GIVEN FROM 1343 BOOKED PROFIT OF 5100
BUY TATA STEEL 2 LOTS ABOVE 1343 TG 1355/1367 SL 1330
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In the holiday-shortened week, benchmark Indian stock indices fell
nearly 2 percent amid soft global markets. However, persistently high
inflation, rising bond yields and no outcome in the Russian-Ukrainian peace
talks with new sanctions against Russia added to investor concerns. For the
week Sensex lost 1,108.25 points 1.86% to close at 58338 while the nifty fell
308 points, down 1.73% to end at 17475. Reliance Industries lost the most
market value followed by Infosys, HDFC Bank and Housing Development Finance
Corporation last week. On the other hand, ICICI Bank, Sun Pharmaceutical
Industries and ITC contributed most of their market value. Large IT companies
such as TCS & Infosys have also encouraged their employees to come to the
office physically. Do you know the work-from-home plans of the two big IT
companies.
INFOSYS PHASED PLAN
Infosys started calling people to offices as early as
this month. From now on, only executives will come into the office. After
announcing its March 2022 quarterly results, Infosys reporters that 95% of the
workforce is currently working remotely, while only 5% of senior executives are
coming into the offices. The company has a three-phase plan for working from
home. We already rolled out the first phase in April and in this people who are
in their home locations where DCs are located or in the upstate town near the
DCs are encouraged to come into the office twice a week get . We're already
seeing traction on it.
HCL
PLAN
Another IT major, HCL Tech. One of our top priorities is the
safety and well-being of our employees and their families. We remain strongly
committed to maintaining our business normality, thereby ensuring uninterrupted
services to our customers. We are currently monitoring the situation and
continue to work in a hybrid model HCL
Tech to report net profit at Rs. 3,304.4 crore
down 4% quarter-on-quarter up 1.6%.
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The market will be closed for four
consecutive days from today, according to the 2022 stock exchange holiday
list available on the official BSE and NSE websites. The equity, forex and
derivatives markets are closed for trading on today & tomorrow, April 14th
and 15th, on the occasion of Mahavir Jayanti and Good Friday, which is a rare
four day break in trading when we include the following weekend.Commodity markets,
however, will only be closed for Thursday's morning session and both Friday's
sessions. On Saturday and Sunday the
stock market will be closed for the regular weekly holiday. The market will
resume trading on Monday April 18th.
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The
market started Wednesday's session with nominal gains even as retail inflation
jumped from 6.07 %in February to a 17-month high of 6.95 %in March. After
trading in the green for a period, the indices erased morning gains and traded
mostly flat.
Infosys' share price rose 1 %in early trade on Wednesday (April 13) ahead of
the company's fourth-quarter results to be announced later. The IT major is
expected to report a 15-20 %increase in consolidated after-tax profit and 24 %growth
in consolidated revenue for the quarter through March. Experts say margins
should increase thanks to higher off shoring and favorable currency mixes. In
addition, ramping up new stores, adding employees and visibility will remain
key drivers going forward. The stock was last trading at Rs 1,748, up 0.35 %on
the NSE. The stock is currently trading 10.32 % below its 52-week high of Rs
1,953.70 hit on Jan.
Tata Steel: The Company has completed the acquisition
of a 50% stake in S&T Mining from the Steel Authority of India. It also
completes the acquisition of a 90% stake in Rohit Ferro Tech.
TVS Motor: The company is acquiring Swiss e-mobility
company Passion Vlo for Rs 22.83 crore. Passion Vlo is mainly engaged in the
sale of electric bicycles and e-bike accessories.
Maruti Suzuki: The company said its Rohtak R&D
facility, which was affected by a fire incident, is covered by an insurance
policy. She appraises the damage to claim back the sum insured.
Godrej Properties: Received NCLT approval for the merger of
Ceear Lifespace, a project-based special purpose vehicle that is a wholly owned
subsidiary, with the Company.
ICICI
Bank: Consideration of the issuance of
debentures on April 23.|
UPL: UPL Pollution Control Dam in a South
African chemical depot..
Wipro: Says acquisition of Convergence Acceleration
is complete.
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