NTPC up amid capacity expansion plans, JSPL rallies on strong demand outlook

Indian Markets:

• Nifty 50 Movement: The index managed to recover and close above the crucial 17,620 level, despite hitting a low of 17,584.35 in mid-afternoon trade.
• The National Stock Exchange’s (NSE) weekly index options expiry added to the volatility, with mixed trading patterns observed across different sectors.
• While banks and consumer durables stocks witnessed an uptick in demand, shares in the pharma, healthcare, and realty sectors experienced a decline.
• Investors adopted a cautious approach in light of global cues, including stubbornly high inflation figures from the UK and Euro Zone.

Global Markets:

• The Does Jones index futures were down 160 points, indicating a weak opening in the US stocks today.
• European markets declined while Asian stocks ended mixed on Thursday as investors continued to digest more corporate earnings.
• Japan posted a trade deficit for a 20th consecutive month in March. The countrys trade deficit reached a record high of 21.7 trillion yen ($161.14 billion) for the twelve months ending March, a sharp spike from the 5.59 trillion yen recorded in the same period a month ago.
• US stocks closed mostly flat on Wednesday after earnings reports from Netflix and Morgan Stanley as investors worried about the Federal Reserves next move on interest rates.

Stocks in Spotlight:

• TTK Healthcare’s decision to voluntarily delist its equity shares led to a more than 4 percent fall in its share prices on April 20. The floor price for the delisting offer was set at Rs 1,051.31 per share, which represented a discount of approximately 20 percent from the stock’s closing price on Wednesday. The move was not well received by investors and resulted in a dent in sentiment.
• Shares of NTPC, the power generator, rose nearly 2 percent on April 20 on the back of reports that the company is anticipating commissioning 3.5 GW of capacity by 2030 from its two nuclear plants currently under construction. Additionally, NTPC is collaborating with the Bhabha Atomic Research Centre and the Department of Atomic Energy to develop smaller reactors that can be deployed rapidly. NTPC is also in talks with American, French, and Russian companies to form partnerships in developing small modular reactors. This news has generated positive investor interest in the company.
• Jindal Steel and Power Ltd’s (JSPL) shares rose on April 20 due to expectations of an uptick in steel demand from China and a drop in coking coal prices. As the largest consumer of steel in the world, any potential increase in demand from China is a positive sign for the steel industry. CLSA has recommended the shares of JSPL and Tata Steel, driving up investor interest in these companies.

News from the IPO world?

• EbixCash receives SEBI clearance to float IPO
• Mankind Pharma sets IPO price band at Rs. 1026-1080
• Retina Paints launces IPO with closing date of April 24th

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