Monday mayhem on Dalal Street as Sensex, Nifty tank; here’s what experts make of today’s trade

S&P BSE Sensex closed 882 points lower at 47,949 while the NSE Nifty 50 dived to close at 14,359.
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Macrotech Developers shares fall on listing; begin trading at 9% discount to IPO price

The Rs 2,500 crore initial public offering (IPO) of Macrotech Developers was the first to open for subscription this financial year. The Company is one of the largest real estate developers in the cou

Macrotech Developers, IPO

Gold, Silver prices move up as dollar declines; rates expected to trade sideways this week

Bullion prices witnessed strong rally with gold prices reporting the best week in the last four months as traders and investors bet against higher inflation worries.

Gold price, Silver price

HDFC Bank, Mindtree, Macrotech Developers, PVR, Future Retail among stocks in focus today

With SGX Nifty down deep in the red on Monday morning, Sensex and Nifty look poised to open with losses once again on Monday.

Infosys, Wipro, Bharti Airtel, Sterlite Technologies, Coal India

Share Market Highlights: Sensex closes 882 points lower, Nifty ends at 14,359; Bank stocks among top drags

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic stock markets recovered some intra-day losses but closed with losses as bears asserted control on Dalal Street. Bank Nifty fe

Share Market Today, Share Market Live

Energy: Q4 preview-Steep q-o-q decline likely for OMCs

RIL expected to see 11% q-q Ebitda growth; GAIL to clock q-q PAT growth; valuations are attractive for P-LNG

We note Dahej’s volume has improved over the quarter with March utilisation rate > 100% which augurs well for Q1FY22e.

Infosys Rating: Buy – A weak quarter for company in relative terms

Strong growth expectation of 14-15% for FY22e stays intact; FY22e EPS up 1% to factor in INR fall; ‘Buy’ retained with TP of Rs 1,590

Consequently, we think the Q1FY22e results will be the key trigger and provide some visibility on the sustainability of the recent upcycle.

Bandhan Bank Rating: Neutral – In a position to better growth trajectory

Collections have seen strong improvement; ‘Neutral’ retained with TP of Rs 370

Collection trends in the total portfolio improved to ~96%.

What is Dogecoin, how to buy in India and why the Elon Musk-supported crypto is no more a mere ‘joke’

While Dogecoin’s size is nowhere near Bitcoin, the ‘joke’ currency’s market cap has been catapulted from over $1 billion during early January to $47 billion on Saturday.

FPIs pull out Rs 4,615 cr from Indian markets in April so far

Previously, FPIs invested Rs 17,304 crore in March, Rs 23,663 crore in February and Rs 14,649 crore in January.

This translated into a total net withdrawal of Rs 4,615 crore during April 1-16.

Gold imports rise by 22.58% to $34.6 bn in 2020-21

Gold imports, which have a bearing on the country's current account deficit (CAD), rose by 22.58 per cent to USD 34.6 billion (about Rs 2.54 lakh crore) during 2020-21 due to increased domestic demand

Gold imports, increased domestic demand,, gold import, increased domestic demand, Akshaya Tritiya and marriage season , CAD, Gems and jewellery exports

Mcap of 7 of top-10 valued firms tumble over Rs 1.41 lakh cr

Seven of the 10 most valued firms witnessed a combined erosion of Rs 1,41,628.37 crore in market valuation last week, with IT companies taking the biggest hit.

Tata Consultancy Services, market capitalisation of Infosys, IT companies, Reliance Industries, State Bank of India, Bharti Airtel

Analysts expect stock markets to be highly volatile amid rising COVID cases, earnings season

Markets are likely to be highly volatile in this holiday-shortened week and will continue to be guided by COVID-related updates, global cues and quarterly earnings, analysts said.

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Glenmark Life Sciences files IPO papers with SEBI; plans to sell over 73 lakh shares via OFS

Glenmark Life Sciences Ltd, a subsidiary of Glenmark Pharmaceuticals Ltd, filed a Draft Red Herring Prospectus (DRHP) with the capital markets regulator SEBI for its IPO

Glenmark Life Sciences, IPO, Glenmark Pharna

Lodha Developers’ Macrotech IPO listing day strategy: Weak subscription disappoints; sell or hold shares?

Macrotech Developers Ltd’s, erstwhile Lodha Developers, on Friday informed that it will list its equity shares on stock exchanges on Monday, April 19, 2021.

Macrotech Developers, Lodha Developers, IPO, Macrotech listing day strategy

Petrol, diesel price today 17 April 2021: Fuel cost steady for 2nd day; check rates in Mumbai, Delhi, UP, Pune

Petrol and Diesel Price Today in India: Petrol and Diesel rate on April 17, 2021, remained unchanged. Rates are highest in Mumbai among metro cities.

Petrol and Diesel Price in India, Petrol and Diesel Rate Today in India

Analyst Corner: Upgrade Astral to ‘buy’ with revised TP of Rs 1,663

We expect ASTRA’s earnings to outpace its key peers in FY22 driven by likely least impact of the recent strict restrictions imposed by few states amid the ongoing second Covid wave.

Considering the robust growth outlook amid the ongoing second Covid wave, we increase our revenue and PAT estimates by 4.4%/8.3%/8.1% and 6.7%/7.2%/7.9% for FY21E/FY22E/FY23E, respectively.

Analyst Corner: Wipro: Maintain ‘buy’ with unchanged TP of Rs 550

The pipeline remains healthy too. All in all, we remain optimistic about the demand environment. Maintain ‘BUY’ with an unchanged TP of `550 as we roll over the valuation to Q2FY23E.

Operating margin at 21% again outperformed expectations despite the company handing out wage hikes to 80% of its employees in January 2021.

Traders call off raisin auctions in Maharashtra

Last year, raisin auctions had initially gone online in March as a pilot project of eNAM and it had worked for a while until the outbreak of Covid.

Kumbhar pointed out that buyers, mostly traders, come from across the country to buy the raisins here and can also spread the virus.

BFSI: Momentum revival to reflect in Q4

Asset quality narrative will be key; >60% earnings growth expected for banks ex-Yes

Q4 is seasonally strong both on sourcing as well as collections.

Maharashtra APMCs to continue functioning

Now, vehicles will be allowed to enter the market premises by 10 pm and continue till 10 am, a total of 12 business hours.

For instance, to control the crowd, the Mumbai APMC located in Vashi, has increased its business hours.

Tata Consultancy Services Rating: Buy- A strong performance in the last quarter

Margins at a 5-year high; deal TCV of $9.2 bn augurs well for growth; FY22-23e EPS up 1-2%; TP revised to Rs 3,740; ‘Buy’ retained

TCS’ margins expanded 20bps q-o-q to 26.8% – its highest in 22 quarters despite a sharp 20% q-o-q rise in subcontracting costs and employee additions of 19,388 (highest ever) during Q4.

Industry body writes to Sebi on speculation in soya prices

The industry body said that it was hard to fathom what has changed so dramatically in such a short period to warrant this unprecedented upswing in prices.

Moreover, at this price, crushers find disparity of Rs 4,000-5,000 per tonne of processing, he said. In the process, the availability of soyabean meal has reduced dramatically, he explained.

Insurepays hopes to raise $5-7 million in Series A funding

Insurepays currently has 1.6 lakh customers and is looking to increase this to 30 lakh over the next 12-18 months. By that time, it expects its members to have paid Rs 300 crore worth of premiums, Jai

So far, members, who have been coming on board since November 2020, have paid Rs 140 crore worth of premiums and have redeemed almost Rs 6.3 crore worth through discounts at various vendors.
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