Stock exchanges will be closed on Good Friday, marking the end of April’s market holidays. The next trading breaks are scheduled for Maharashtra Day, Independence Day, and Ganesh Chaturthi. The past week saw a strong market rally fueled by positive economic factors and favorable forecasts, leading to sector- and stock-specific investment strategies.
Two more independent directors resign from Gensol Engineering
Gensol Engineering faces a corporate governance crisis as independent directors Harsh Singh and Kuljit Singh Popli resigned following promoters’ offer to step down. SEBI barred the promoters from the securities market, alleging financial misconduct, including misuse of loans and diversion of funds for personal luxuries.
Amid Q4 revenue jitters, Infosys expects recovery in the coming quarters
The performance of Infosys in the March quarter on the revenue front was worse compared with peers Tata Consultancy Services (TCS) and Wipro.
Debt market snapshot: RBI’s liquidity boost among other factors drive March movement
This intervention led to a softening in market rates. The 10-year government bond yield declined by 15 basis points (bps) to 6.58% in March from 6.73% in February.
UltraTech Cement shares in focus on plans to acquire 26% stake of AMPIN C&I Power Eight
UltraTech Cement will acquire a 26% stake in AMPIN C&I Power Eight for up to Rs 25.50 crore. This investment supports UltraTech’s green energy goals and aims to optimize energy costs while meeting regulatory requirements. AMPIN C&I Power Eight is developing a 75 MWp DC/50 MW AC solar power project in Rajasthan.
Don’t rush in; China may be willing to talk but better stick to largecaps: Nischal Maheshwari
Market expert Nischal Maheshwari suggests sticking to large-cap quality stocks amidst ongoing trade negotiations. China has expressed openness to talks with the US, contingent on respectful engagement. Maheshwari advises caution regarding IT stocks, anticipating continued uncertainty and deferred decisions until the second half of next year, recommending a wait-and-see approach.
Positive Breakout: These 9 stocks cross above their 200 DMAs
As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.
Market should remain strong as crude, commodity and currency working in India’s favour: Deven Choksey
Deven Choksey suggests India’s economy is poised for growth due to favorable conditions like lower production costs and strong domestic demand. The market is expected to remain strong, with the Nifty potentially trading between 21,800 and 23,800. Telecom and realty sectors are also showing promise, while travel and hospitality stocks are adequately priced.
ICICI Lombard shares in focus after Q4 profit dips 2% to Rs 510 crore
ICICI Lombard witnessed a slight dip in net profit, reporting Rs 510 crore for the quarter ended March 31, despite a rise in total income and gross direct premium income. The board recommended a final dividend of Rs 7 per share.
NHPC shares in focus on starting operation of 107 MW solar capacity at Bikaner
NHPC shares are in focus following the commencement of commercial operations for a 107 MW solar power capacity in Rajasthan. Additionally, trial runs for all units of the Parbati-II HE Project in Himachal Pradesh have been successfully completed, with commercial operations already declared for three units earlier this month.