11 Apr , 2022 By : monika singh
Domestic equity market BSE Sensex and Nifty 50 were staring at a negative start on Monday, as suggested by trends on SGX Nifty in early trades. Nifty futures were trading 85.50 points or 0.5 per cent down at 17,811 on Singaporean Exchange. In the previous session, headline indices snapped three-day losing streak, Sensex surged 412.23 point or 0.70% to settle at 59,447.18, the broader Nifty50 added 144.80 points or 0.82% to end the session at 17,784.35. Analysts say equity markets have shown strong resilience even though it faces headwinds from uncertain global environment and persistent inflation. “Momentum was seen in several broader market themes like Defence, Power, Realty and Tyre sector stocks. Q4 FY22 earning season will kick off this week and would be the key factor for market direction going forward,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
HDFC, Bandhan Bank: Housing Development Finance Corporation on Friday sold around 49.6 million shares or around a 3% stake in private sector lender Bandhan Bank in a bulk deal to bring its shareholding to just below 5% to comply with regulatory guidelines. Bandhan Bank, in a stock exchange filing on the BSE, informed that HDFC sold 49.6 million shares at Rs 306.61 apiece.
Bharat Sanchar Nigam Ltd: The launch of 5G services by private operators later this year may open up a revenue stream for the state-run, loss-making BSNL.
Adani group stocks: Abu Dhabi’s International Holding Company PJSC will invest $2 billion as primary capital in three green-focused companies of Adani Group – Adani Green Energy, Adani Transmission and Adani Enterprises.
Tata Consultancy Services: India Inc. will start reporting its earnings for the January-March quarter from today with IT major TCS stepping in first.
Wipro: IT major Wipro on Friday announced the appointment of Anis Chenchah as member of its executive board and Chief Executive Officer, APMEA (Asia Pacific, India, Middle East and Africa).
Ambuja Cements: Ambuja Cements expects demand in the cement industry to grow over 7 per cent in 2022, adding it is “well-braced” to meet the requirements.
Reliance Capital: The bankruptcy process of Reliance Capital is likely to be delayed further over a confusion of finalising resolution plans for its subsidiaries, which are profit-making entities.
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