Ajit Mishra, VP - Research, Religare Broking:
The recent buoyancy in banking is certainly an encouraging sign but we feel others should also pitch in for a sustainable surge in the benchmark. In the coming sessions, we expect that earnings announcements particularly from Nifty pack (HUL, Tech Mahindra) and F&O expiry will continue to lead stock-specific swings this week. We reiterate our view focusing on stock-selection and trade management amid the prevailing uncertainty.
Vinod Nair, Head of Research at Geojit Financial Services:
Benchmark indices ended positive tracking global markets, led by financials. Hopes of a fiscal stimulus have given support to the markets. Stock specific news reactions are happening based on the results and management commentary. The sustainability of this rally depends on the easing of lockdown measures and the measures to get businesses back on track.
S Ranganathan, Head of Research at LKP Securities:
Market today on the back of a ferocious afternoon move by Financials.HDFC&BajajFinance led the charge which was well supported by Axis Bank andIndusIndBank. De-Leveraging exercise fromRILthrough a planned rights issue also helped markets hold on to its gains.
Market Close
: Indian indices ended on positive note for the second consecutive day on April 28 with Nifty finished near9,400 level.
At close the Sensex was up 371.44 points or 1.17% at 32114.52, and the Nifty was up 98.60 points or 1.06% at 9380.90. About 1282 shares have advanced, 1047 shares declined, and 185 shares are unchanged.
IndusInd Bank, Bajaj Finance, HDFC, Axis Bank and Bajaj Finserv were among major gainers on the Nifty, while losers were Sun Pharma, IOC, NTPC, Nestle and Vedanta.
Among sectors, pharma, metal, FMCG and energy ended lower, while buying seen in the bank and auto stocks.
Capital Multiplier:
Zota Healthcare launches new product
Zota Healthcare launched new product with the name COROWL. This product shall be useful in treatment of Viral lnfection and Viral Fever.
JK Paper approves buyback
The company approved the buyback of its fully paid-up equity shares having face value of Rs 10 each at a price not exceeding Rs 130 per equity share for an aggregate amount not exceeding Rs 100 crore from the shareholders of the company.
Buzzing
Shares of HDFC Life Insurance Company gained over 2 percent on April 28 despite company reported weak growth in premium and decline in solvency ratio in quarter ended March 2020.
Rupee ends higher
Indian rupee ended marginally higherat 76.18 per dollar on April 28 amid volatile trade seen in the domestic equity market.
Signet Industries commences operations
The company has commenced operations in its manufacturing unit at Pithampur, Dist Dhar Madhya Pradesh in line with the permission received from the competent authority.
Negative price feature available for commodity derivatives segment
Exchange’s BOLT Plus trading system has been modified to accept orders and execute trades at negative prices. Accordingly, existing versions of trading system APIs – ETI as well as IML APIs will also support trading activity at negative price levels.
Tata Motors to raise Rs 1,000 crore through NCDs
: Share price gained over a percent after the company said that it would be issuing non-convertible debentures (NCDs) worth Rs 1,000 crore, becoming the latest in a line of automakers who have been taking the debt route to raise liquidity.
Most active stocks on NSE in terms of value
Sensex is up 213.91 points or 0.67% at 31956.99, and the Nifty gained 55.95 points or 0.6% at 9338.25.
TVS Motor Company approves NCDs worth up to Rs 500 crore
: The Board of Directors of the Company at their meeting held on April 28, 2020, approved the issuance of Non-Convertible Debentures, aggregating upto Rs 500 crore on a private placement basis.
Vaibhav Global resumes operations
The company’s manufacturing units located at Jaipur (India) resumed operations from April 272020. Operations have resumed at partial capacity and production will be scaled to normalized level in a phased manner based on government directives.
Natco Pharma get USFDA approval
:NatcoPharmashare price rose more than 1 percent intraday on April 28 after company receivedUSFDAapproval.
Here are the High Dividend Payer:
Just Dial to consider buyback
Share price of Just Dial gained 9 percent on April 28 after the company said that the Board of Directors may consider the proposal for buyback of fully paid-up equity shares in a meeting scheduled on April 30, 2020.
Jai Corp resumes partial ops
The company has resumed partial operations at some of its manufacturing facilities located in Dadra and Nagar Haveli and Daman and Diu, that was temporarily suspended due to the lockdown on account of Coronavirus (COVID-19).
Benchmark indices are trading higher with Sensex up 110.17 points at 31853.25, while Nifty up 33.80 points at 9316.10.
Nifty Pharma Index fell over 1 percent led by the Glenmark, Lupin and Sun Pharma:
Rupee trades lower
Indian rupee is trading lower at 76.38 per dollar amid volatile trade seen in the domestic equity market.
Dilip Buildcon get completion certificate
The project rehabilitation and up gradation of NH111 (New NH-130) from Km 82.50 to Km 163.400 (Katghora to Shivnagar) to two lane with paved Shoulder in the state of Chhattisgarh under NHDP -IV on EPC Basis -section of NH-111 (NEW N.H. 130) has been completed. The completion certificate has been issued by the authority on April 27, 2020 and has declared the project fit for entry into operation as on September 09, 2019.
Buzzing stock
Share price of Axis Bank gained after the private lender said it would acquire a 29 percent stake in Max Life Insurance Company.
Buzzing stock
The share price of UPL rose over 5 percent after the company said it has completed the acquisition of Yoloo (Laoting) Bio-technology, a China-based agrochemical maker.
Rupee Opens
Indian rupee opened marginally lower at 76.31 per dollar on Tuesday against Monday's close of 76.24.
Buzzing
Ambuja Cements share price rose over 4 percent on April 28 after the company declared its March quarter earnings.
It reported a consolidated profit of Rs 742.59 crore in Q1 CY20, a 6.8 percent growth over the same period last year.
Ajay Bodke, CEO PMS Prabhudas Lilladher on RIL rights issue:
It reflects promoter's unflinching faith in the medium to long term prospects of various businesses. Over the decades like Dhirubhai; Mukeshbhai has always believed in creating tremendous value for minority shareholders.
With consumer focusing businesses like digital telecom & retail achieving global scale, with global behemoths vying with each other to partner RIL; this is an apt opportunity for current shareholders to participate in the likely value unlocking of various businesses over the next couple of years.
Reliance Industries allots NCDs
Reliance Industries allotted 27,950 Unsecured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 10,00,000 each, aggregating Rs 2,795 crore (PPD Series L Debentures), issued on private placement basis.
Buzzing
IndusInd Bank share price locked at 10 percent upper circuit on April 28 after company reported its March quarter result.
Market Opens
: Indian indices rose in the opening trade on April 28 with Nifty above 9350.
At 09:16 hrs IST, the Sensex is up 294.09 points or 0.93% at 32037.17, and the Nifty up 86.30 points or 0.93% at 9368.60. About 585 shares have advanced, 137 shares declined, and 39 shares are unchanged.
Market at pre-open
: Benchmark indices are trading higher in the pre-opening session with Nifty above 9300 level.
At 09:02 hrs IST, the Sensex is up 388.80 points or 1.22% at 32131.88, and the Nifty up 91.80 points or 0.99% at 9374.10.
