Foreign brokerages pick stake in ZEE, Angel One recorded 30.4 percent y-o-y growth in profits

Opening Bell:

SGX Nifty is down by 33.5 points in the early morning trade, indicating a negative opening for Indian stock market.

Asia-Pacific markets were mixed on Tuesday as Wall Street’s earnings season continues and investors await a slew of economic data out of China, most notably, its first quarter gross domestic product. The Japanese Nikkei is up with 0.54 percent gain. Hong Kong’s Hang Seng is down by 0.67 percent and South Korea’s Kospi is down by 0.24 percent gains in early morning deals.

US stock futures traded flat on Monday after the major averages rose to kick off a stacked week of corporate earnings. Dow Jones Industrial Average futures and S&P 500 futures were little changed The S&P 500 gained 0.33 percent, while the Nasdaq Composite added 0.28 percent.

Stocks News:

?Segantii India Mauritius, Morgan Stanley, and Goldman Sachs have picked up Rs 640 crore of shares in the media and entertainment company through open market transactions. Segantii India Mauritius has bought 90.19 lakh shares, Morgan Stanley Asia Singapore Pte 1.58 crore shares, and Goldman Sachs Singapore Pte ODI purchased 64.2 lakh shares in Zee.

?Ange One has recorded a 30.4% year-on-year growth in consolidated profit at Rs 267 crore on strong topline as well as operating performance. Consolidated revenue at Rs 825.7 crore for the quarter grew by 21.3 percent, while on the operating front.

?Coca-Cola India has acquired 15% equity stake in Hashtag Loyalty, the associate company of Jubilant Foodworks, for Rs 104.68 crore. Hashtag Loyalty has entered into a Securities Subscription Agreement with Coca-Cola India. Accordingly, the Jubilant’s stake in Hashtag has reduced from 35% to 29.75%.

?Avalon Technologies the electronic manufacturing services company will make its debut on the bourses on April 18. The issue price has been fixed at Rs 436 per share.

?Foreign institutional investors (FII) sold shares worth Rs 533.20 crore, whereas domestic institutional investors (DII) bought shares worth Rs 269.65 crore on April 17, National Stock Exchange’s provisional data showed.

Domestic and International Events

• Continued government push to build infrastructure will drive cement demand further this fiscal by 8-9 percent on top of a 9 percent growth in FY22, which will help the sector see some recovery in profitability, a report said
• India’s wholesale inflation cooled further in March to 1.34 percent, according to data released on April 17 by the Ministry of Commerce and Industry. The latest Wholesale Price Index (WPI) inflation figure is the lowest in 29 months. WPI inflation had come in at 3.85 percent in February and 14.63 percent in March 2022.
• Oil prices turned lower on Monday as the U.S. dollar strengthened and as investors mulled over a possible May interest rate hike by the U.S. Federal Reserve, which could dampen economic recovery hopes.
• Gold reversed course to slip below the key $2,000 level on Monday, pressured by a stronger dollar and higher Treasury yields, while investors looked for cues on whether the market will see a ‘one and done’ rate hike by the US Federal Reserve in May.

Key Equity Indices