Mumbai: Staying updated about market related stories and developments can be crucial for informed investment decisions. Trading tips and brokerages for select stocks are the key to taking the right call during the trading day.
Here are news stories that may influence markets for today.
- DXY heads for third weekly gain in a row as Dollar index avoided a pullback after US NFP data to emerge among top performers on Friday.
- Asian markets had a mixed opening with stocks in China and Hong Kong climbing , stocks in Seoul and Sydney making modest gains and a decline for equities in Tokyo.
- US markets posted a 2nd straight week of gains on strong job data and hopes of a trade deal. S&P 500 closed higher by 0.5 per cent, Nasdaq closed higher by 0.6 per cent and Dow ended with gains of 40 points.
- European markets closed higher with Stoxx 600 closing higher by 0.24 per cent.
- Oil prices rose to five-month highs due to OPEC’s ongoing supply cuts and US sanctions on Iran and Venezuela. Brent Futures went up by 0.5 per cent, WTI Crude rose by 0.6 per cent.
The stocks in news and brokerages for stocks that may have an impact on the trading day ahead.
Jet Airways: Bidding for Jet Airways is set to begin on April 8 with lenders putting out an EoI for the change of management to be submitted by April 10. TPG, Indigo Partners and NIIF are teaming up to submit EoI as Delta Airlines and Air France-KLM have also been approached by lenders.
Sun Pharma: Sun Pharma was invalidated out of specification results obtained during tests as USFDA drew one observation on its facility in Baska, Gujarat. Baska Injectibles had filed for approval of its product in US.
Wockhardt: The firm plans to sell part of formulations business to cut debt as the promoter is looking for a valuation of Rs 5000 crore. 25-30 per cent stake could be diluted as per promoter’s plan with lender.
GVK Power and Infra: GVK is in advanced talks with NIIF-ADIA for a Rs 6500cr funding in its airport in Mumbai to block out Adani from MIAL. NIIF-ADIA fund infusion likely to value MIAL at Rs12500-13000cr
HDFC Bank Q4: Advances for the bank are up 24 per cent at Rs 8.19, deposits are up 17% at Rs 9.23 lk cr vs Rs 7.88 lk crore and CASA ratio was at 42 per cent vs 43.5 per cent YoY. The Bank purchased loans aggregating to Rs 1,924 cr through direct assignment route.
Credit Suisse on Interglobe: Maintain outperform, target at `1650/share.
CITI on Gateway Distriparks: Maintain buy, target at `175/share.
JP Morgan ON Biocon: Initiate coverage on Biocon with a buy
target for Biocon at `775/share.
HSBC On Titan: One of our buy ideas in the Indian consumer space; we raise TP to INR1,280 (from INR1,180).
CLSA ON INDIABULLS HOUSING:IHFL will also comply with norms on regulatory assets (SLR, CRRand PSL Merger could take 6-9 months as mgmt plan to leverage the licence to build a stronger deposit franchise. Promoters are open to trim shareholding to 15% post-merger from 20% LVB has been valued at Rs127/share or +35% premium to the current price of Rs93.
Credit Suisse On Indiabulls Housing: Maintain Neutral òn Indiabulls Housing Stock swap implies a 10.5% dilution for IBHFL IBHFL gets access to stable funding sources ROE can drop in the 1st year of the merger.