Domestic benchmark indices traded on a weak note on April 15 after investors opted to sold riskier assets as the middle east crisis continues to intensify.
Sensex declined 845 points to 73,399 and Nifty fell 246 points to 22,272 in trade on Monday. Nifty Bank tanked 791 points to 47,773 and Nifty Midcap fell 786 points to 49,281 in trade on April 15. IT and bank stocks witnessed decline in trade today while oil & gas stocks witnessed rally.
Rupak De, Senior Technical Analyst, LKP Securities said, "the Nifty recently dipped below a crucial moving average, following a breakdown in consolidation. Additionally, the Relative Strength Index (RSI) indicates a bearish crossover. Short-term sentiment appears bearish, although a significant decline isn't anticipated at present. Instead, the index is likely to fluctuate between 22200 and 22400. Sellers are expected to persist as long as the index remains below the 22400 mark."
Shares of leading NBFC Capri Global Capital Limited surged over 13.23% in trade today.
GIFT Nifty
The GIFT Nifty has lost 134.50 points, or 0.60 percent, suggesting a poor start for the larger index in India. The 22,452.50 level was the trading range for the Nifty futures.
Gold Prices
Gold prices reached an all-time high of $2,400 per ounce on Friday, marking the start of their fourth week of increases, as investors fled to safe-haven assets due to mounting Middle East tensions.
Crude Oil
Oil saw a weekly loss due to concerns about slower U.S. interest rate reductions and the International Energy Agency's (IEA) pessimistic outlook for global oil demand growth, despite a 1% increase on Friday due to geopolitical tensions in the Middle East.
RBI
Despite the easing trend in the Consumer Price Index (CPI) statistics, experts advised that given the weight of global uncertainty, the Reserve Bank of India (RBI) might not be in a rush to lower interest rates.
Based on data issued by the Ministry of Statistics and Programme Implementation on April 12, India's headline retail inflation rate dropped to 4.85 percent in March, a nine-month low.
In February, 5.09 percent was the Consumer Price Index (CPI) inflation metric.
LIVE Feed
Apr 15, 2024, 2:34 pm IST
Gold Price Rises Unabated, Should You Buy Or Sell?
Gold prices in India continue to rise and making string of new records with prices declining only on April 13 in last 10 days as geopolitical tensions in the Middle East continues to escalate. Price of 22K gold in India today is Rs 67,050/10 grams after the surge by Rs 550 and 24K yellow metal price in the country today is Rs 73,150/10 grams. The rally in gold prices can be seen from the fact that in last 10 days in India, yellow metal fell only on April 13 when 24 carat yellow metal prices slipped by Rs 760 to Rs 72,550/10 grams and 22 carat gold prices dived by Rs 700 to Rs 66,500/10 grams.
In last 10 days in India, gold prices recorded the biggest jump on April 6 when 24k gold prices zoomed by Rs 1310 to Rs 71,290 and 22k gold prices surged by Rs 1200 to Rs 65,350. If you are planning to buy 100 grams of 22k gold in India, you need to pay Rs 6,70,500 after today’s rally by Rs 5500 and you will need to shell out Rs 7,31,500/100 grams for 24k gold in India today after the surge by Rs 6000.
Apr 15, 2024, 1:59 pm IST
M&M Shares In Focus
A project worth around Rs 1,200 crore will be constructed by the Mahindra Group using a hybrid renewable energy (RE) system including 150 MW of solar and wind power. Leading global investor Ontario Teachers' Pension Plan Board is a strategic partner of Mahindra Susten, a subsidiary of the Mahindra Group and a pioneer in the renewable Independent Power Producer (IPP) market, which will spearhead the project. The setup, which consists of a 101 MW wind capacity and a 52 MW solar capacity, is anticipated to provide 460 million kWh of energy and reduce 420,000 tonnes of CO2 emissions. The project would be one of the largest co-located solar + wind hybrid projects in Maharashtra to supply sustainable energy to Commercial and Industrial (C&I) customers. It also represents Mahindra Susten's entry into the "hybrid RE" segment. Within the following two years, the project will be put into operation.
Apr 15, 2024, 1:52 pm IST
Brigade Group To Invest Rs 400 Cr To Develop Office Space In Chennai
Brigade Enterprises Limited and Agni Estates & Foundations Pvt Ltd have signed a Joint Development Agreement (JDA) for the development of Brigade Tech Boulevard, a "Grade A" office space located on Chennai's Pallavaram-Thoraipakkam Radial Road. The project, which would need a cost of about Rs 400 crores, will consist of two towers and a leasable space of 8.36 lakh square feet. Brigade Group will launch this as its next commercial venture following the victorious completion of the historic "World Trade Centre" on OMR.
Apr 15, 2024, 1:15 pm IST
Hong Kong approves spot Bitcoin & Ethereum ETF application
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures said, "Chinese Real Estate and Equity markets have been under pressure since the Pandemic and haven't recovered. The local wealth is searching for other assets to deploy as can been seen from the record gold demand from investors. The Spot ETF approvals, will provide a new avenue for Chinese capital to explore some exposure to crypto as an asset class and bodes well for the industry in the medium term. The spot ETFs make it easy and efficient for novice investors to gain access to crypto withour worring about wallet and custody setups. If the US approvals are taken for reference, we can easily expect billions of incoming flows for these new spot ETFs in HK. This also represents HK is ambition to become the regional crypto hub, competing with Dubai and Singapore."
Apr 15, 2024, 12:45 pm IST
Suven Life Sciences Shares In Focus
Today, Suven Life Sciences announced that it would be presenting a scientific presentation at the 76th annual meeting of the American Academy of Neurology (AAN), which will take place digitally and in Denver, USA, from April 13–18, 2024. Details of the promising Phase-2 proof-of-concept research evaluating the safety and effectiveness of samelisant for the treatment of excessive daytime sleepiness (EDS) in adult narcolepsy patients with and without cataplexy will be highlighted in Suven's scientific presentation at AAN.
Apr 15, 2024, 12:34 pm IST
Bharti Airtel Shares In Focus
As part of its rural development initiative, Bharti Airtel extends the reach of its network into Nanded District. The firm plans to add more sites for seamless connectivity in order to densify its network over 1150 villages. In an effort to densify its network, Bharti Airtel today said that it had set up more sites in the Palakkad district. The 7 lakh residents living in the Palakkad district were served by the 14 cities and 129 villages that were included in the network expansion project. In order to densify its network, the company also established further sites in the districts of Purba and Paschim Medinipur.
Apr 15, 2024, 12:07 pm IST
Ramkrishna Forgings Shares In Focus
Today, Ramkrishna Forgings Limited declared that it has received a substantial order for the highly sought-after Vande Bharat Train Set. This order is to be supplied to the BHELTRSL consortium and is valued at Rs 270 crores. There are 32 train sets total in this set-up, with 16 carriages in each. As a result, RKFL will be constructing 1024 bogie frames in total, demonstrating the company's ability to manage complex and large-scale production requirements.
Apr 15, 2024, 12:02 pm IST
DroneAcharya Aerial Innovations Partners Up With Subhkhyati Aerospace For Its Fourth Training Centre
DroneAcharya Aerial Innovations Ltd., India's highest-rated DGCA-certified drone pilot training center, headquartered in Pune, Maharashtra, is pleased to announce the opening of its fourth training center
in Jaipur, Rajasthan. This expansion is part of our franchise initiative in partnership with Subhkhyati
Aerospace Pvt. Ltd.
Apart from Jaipur, DroneAcharya has DGCA-certified drone pilot training centers in Maharashtra,
Gujarat, and Punjab, along with non-DGCA certified drone-centric courses in Mumbai and Bengaluru. Mr. Prateek Srivastava, Founder, and
Managing Director of DroneAcharya says, “Our vision aligns completely with the objectives of Indian Prime Minister Shri Narendra Modi, of
catapulting India as a Global Drone Hub by 2030.”
Apr 15, 2024, 11:48 am IST
Tesla Forms Semiconductor Pact With Tata Electronics For Global Expansion
Tesla has inked a semiconductor deal with Tata Electronics, as reported by The Economic Times. Executed quietly several months ago, this agreement underscores Tata Electronics' emergence as a reliable supplier for key players in the global semiconductor market, particularly those seeking to fortify their presence in India. Details surrounding the financial terms of the arrangement between Tesla and Tata Electronics remain undisclosed, but the deal signifies a crucial step for both parties. Tesla, the renowned US-based electric vehicle (EV) manufacturer, has been eyeing entry into India, recognised as the world's fastest-growing major automotive market.
Suven Life Sciences To Present Results At American Academy of Neurology (AAN) 2024
Suven Life Sciences to present Phase-2 Positive Results on Samelisant (SUVN-G3031) at
American Academy of Neurology (AAN) 2024 Annual Meeting, Denver, USA. The company is a clinical-stage biopharmaceutical
company discovering and developing novel medicines to treat Central Nervous System (CNS)
disorders, announced today scientific presentation at the upcoming 76th American Academy
of Neurology (AAN) annual meeting being held April 13-18, 2024, in Denver, USA and virtually.
The AAN Annual Meeting is the world’s largest gathering of neurologists and neuroscience
professionals and offers top-tier education and the latest in scientific discoveries, clinical
updates, and many more from around the globe.
Apr 15, 2024, 11:06 am IST
India Gold Rates Today Shine Despite Falling International Demand
Gold prices in India today for 10 grams of 24-carat are Rs. 73,150/-, which were Rs. 72,550/- the day earlier. Yellow metal prices in India today have risen to Rs. 67,050/- per 10 grams, from Rs. 66,500/- the previous day. Likewise, 18-carat gold prices in India today have surged by Rs. 450/- to reach 54,860/- per 10 grams. Spot Gold rates tumbled to $ 2,353/- per ounce, while MCX Gold Futures, maturing in June are currently floating around Rs 71,895/-, a rise of 0.07% or Rs 52/- since last week's closing.
MindSculpt Analytics & Happiest Minds Set To Build Advanced AI Medical Preventive & Diagnostic Solutions
MindSculpt Analytics & Happiest Minds engage for reshaping the science of exploration of complex data, and to deliver tailored medical diagnostics solutions leveraging advanced Artificial Intelligence and Machine Learning techniques.
Dr. Paul Salins, Founder & CEO, of MindSculpt Analytics, said, “MindSculpt Analytics spearheads the
creation of innovative approaches to analyzing complex data, harnessing the full potential of cutting-edge technology and advanced computational tools across various fields. As we move towards the
future of healthcare, a departure from traditional disease-focused and physician-dependent medical
strategies to predictive auto-diagnostics led by technology and focusing on the dynamics of personal
wellness emerges.
Apr 15, 2024, 10:26 am IST
Calcom Vision Limited Informs Exchanges Of High Quarterly Sales
Calcom Vision Limited has recorded its highest-ever Quarterly Sales of INR 47.07 Cr. achieving 15% growth over the previous quarter. The Company has achieved an annual sales of INR 160.20 Cr. for the year ended as of March 31, 2024. The Company has sold 4.35 Cr. units in FY 2023-24 compared to 2.56 Cr. In FY 2022-23, a growth of 70% over the previous Year. The lighting Industry has witnessed a major technological change which has resulted in a significant price erosion greater than 50%.
During this Quarter, the Company has also tied up with Flipkart India as one of their
privileged customers, to supply all LED Products. Flipkart is one of the World’s most valuable Multinational
brands having a 48% market share in India's e-commerce Industry. The Company successfully delivered its first
order to Flipkart.
Apr 15, 2024, 10:05 am IST
Market at 10 AM
The Nifty was down 177.60 points, or 0.79 percent, at 22,341.80, while the Sensex was down 606.71 points, or 0.82 percent, at 73,638.19.
Apr 15, 2024, 9:58 am IST
ISMT wins two contracts from ONGC valued at Rs 344 crore.
The Oil and Natural Gas Corporation (ONGC) has awarded ISMT two contracts worth a combined Rs 343.72 crore for the delivery of standard casing pipes. The agreements shall be carried out by February 13, 2025.
Apr 15, 2024, 9:28 am IST
TCS's Q4 revenue exceeded forecasts. YoY profit increases by 9.1% to Rs 12,434 crore.
Tata Consultancy Services surpassed analyst projections by recording a 9.1% year-over-year increase in net profit for the quarter that ended in March of FY24, totaling Rs 12,434 crore. With constant currency revenue growth of 2.2 percent, revenue from operations increased by 3.5% YoY to Rs 61,237 crore, led by the manufacturing, UK, and India segments. With a margin expansion of 150 basis points at 26%, EBIT for the quarter increased by 10% to Rs 15,918 crore when compared to the same period last year. During the quarter, TCS recorded a record overall contract value of .2 billion, while the order book for the entire year stood at an all-time high of .7 billion. For the fiscal year 2023–2024, the firm declared a dividend of Rs. 28 per share.
Apr 15, 2024, 9:17 am IST
Market Outlook Today By Aditya Gaggar, Director of Progressive Shares
A round of correction in heavyweight counters dragged the Index lower to end the 12th April trade at 22,519. An early indication from GIFT Nifty suggests a tepid opening of the Indian equities. The weekly chart also indicates a temporary pause in the strong uptrend with a shooting star candlestick pattern. A zone of 22,340-22,370 will offer strong support while the immediate resistance is placed at 22,620. As far as BankNifty is concerned, immediate support is placed at 48,165 while in the short-term, the upside seems to be capped at 49,000 (ICICI Bank- anticipating a Pennant & Pole Breakout, IDFC First Bank- Flag and Pole Breakout). As per our expectations, a strong rally was seen in the Metal segment and we will continue to remain overweight on the same, one can opt to buy on dips strategy as well. A Shooting Star candlestick pattern in the Realty sector suggests a short-term reversal. Investors must keep an eye on the Chemical stocks as strong breakouts were witnessed and we have identified a few of them: Aarti Industries and Deepak Nitrite- Rounding Bottom Breakout, Jubilant Ingrevia- Symmetrical Triangle Breakout, Navin Fluorine- Inverted Head & Shoulder Breakout.
Apr 15, 2024, 8:44 am IST
Power Finance Corporation is set to provide Rs 4,000 crore to Vedanta.
According to the Mint, Vedanta plans to raise between Rs 3,900 and Rs 4,000 crore from Power Finance Corporation to increase its capacity for producing electricity.
The state-run lender has granted the Anil Agarwal-led company a rupee term loan facility worth at least Rs 3,918 crore and potentially up to Rs 4,000 crore. The group's renewed emphasis on expanding its energy portfolio in India includes the 11-year loan.
Apr 15, 2024, 8:13 am IST
Results on April 15
On April 15, the following companies will disclose their quarterly earnings: GTPL Hathway, Hathway Bhawani Cabletel & Datacom, Metalyst Forgings, Ontic Finserve, Rajoo Engineers, Hit Kit Global Solutions, Shekhawati Poly-Yarn, Atam Valves, and Sybly Industries.
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