The stock market on Friday, April 9, gave a negative ending after starting the day on a flat note led by banking stocks. Following the same trend, the indices on Monday, April 12, are expected to open lower as the SGX Nifty was trading at 51.00 points or 0.34 percent down at 14,821.00 at 7:05 am. On April 9, the BSE Sensex fell by 154.89 points or 0.31 percent to close at 49,591.32. Similarly, the NSE Nifty lost 38.95 points or 0.26 percent to settle the day at 14,834.85.
Top stock to look for the day:
Infosys: The proposal for the buyback of equity shares of the company will be considered by the IT services major on April 14.
JSW Steel: As of March 2021, 4.80 percent equity stake (11,60,57,427 equity shares) in JSW Steel is held by state-owned Life Insurance Corporation of India increasing from 4.02 percent shareholding held by LIC itself in the name of LIC New Endowment Plus-Growth Fund at the end of December 2020.
TCS: The company will release its Q4FY21 earnings on April 12.
Barbeque Nation Hospitality: 1.7752 percent equity stake of Barbeque Nation has been acquired by UTI Mutual Fund via open market operations on April 8. The total shareholding in the company now stands at 5.0188 percent.
Pharma Stocks: Non-exclusive voluntary licensing agreements has been signed by Gilead with pharma companies like Dr Reddy, Cipla,
Jubilant Lifesciences, etc to manufacture remdesivir for distribution in 127 countries.
Tata Communications: Its partnership with Bahrain Internet Exchange has been extended by the company to enable a next generation OTN network for customers in Bahrain.
Castrol India: An exclusive supply arrangement has been signed by Castrol and Ki Mobility Solutions in India wherein Castrol will supply lubricant products to Ki Mobility’s multi-brand workshops.
Solara Active Pharma Sciences: The amalgamation of Aurore Life Science, Empyrean Lifesciences and Hydra Active Pharma Sciences with the company has been approved by the board of directors of the company.
Balrampur Chini Mills: ICRA, a rating agency has re-affirmed the credit ratings for both long-term and short-term as ‘AA’ and ‘A1+’, respectively. The outlook on the long-term rating has also been revised from Stable to Positive.