All You Need To Know Going Into Trade On April 16
Coffee pours from an espresso machine into a cup at a Starbucks Corp. coffee shop. (Photographer: Taylor Weidman/Bloomberg)

All You Need To Know Going Into Trade On April 16

Asian stocks fluctuated in early trade Friday after surprisingly robust economic data helped propel U.S. indices to records. Yields on benchmark 10-year Treasury notes declined.

Shares wavered between red and green in Japan and Australia and rose in South Korea. U.S. contracts slipped after equity benchmarks hit all-time highs overnight. Real estate, health care and technology shares led gains.

The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was little changed at 14,630 as of 7 a.m.

Let’s take a look at the factors that may influence equities in today’s session:

  • Treasuries advanced despite better-than-expected retail sales and jobless claims data in the U.S.
  • Chinese data will be centerstage on Friday, as the world’s second-largest economy is expected to report the highest quarterly growth since the first such data releases 30 years ago.
  • Oil held a recent advance, and copper is on course for the best week in about two months. Gold edged up 0.1% to $1765.00 an ounce.
  • Bitcoin gained and Coinbase Global Inc. fell despite news that three funds at Cathie Wood’s Ark Investment Management bought shares at Wednesday’s debut of the digital-asset exchange.

Also read: China Huarong’s Silence on Overhaul Plan Frays Investor Nerves

All You Need To Know Going Into Trade On April 16

Stocks To Watch

  • Ashoka Buildcon: Has received a Letter of Award from Gujarat Rail Infrastructure Development Corporation Limited for a gauge conversion project. The project cost is Rs 333 crore.
  • National Fertilizers: Government has issued a request for proposals to engage legal advisors, merchant bankers and selling brokers to sell a 20% stake in the company via OFS.
  • Sadbhav Infrastructure Project: Has raised Rs 550 crore by allotment 55000 unlisted, secured NCDs of the face value of Rs 1 lakh each on a private placement basis.
  • Yuken India: Board has approved the amalgamation of Yuflow Engineering with the company subject to the approval of jurisdictional NCLT. Yuflow Engineering is a wholly-owned subsidiary of the company.
  • Kirloskar Ferrous Industries: Board to meet on May 5 to consider final dividend for FY21.
  • Angel Broking: To consider the third interim dividend for FY21 at its board meeting on April 22, 2021. The record date for the dividend, if any, will be April 30, 2021.
  • Antony Waste Handling Cell: Total operating revenue grew 4.4% on a sequential basis. For FY21, the operating revenue has increased 6.5% year-on-year. Total tonnage handled by collection and transportation business rose 2.1% quarter-on-quarter. Total waste processed by the company during the quarter improved ~2.9% as compared to Q3FY21. Total compost sales stood at 4,384 tonnes as compared to 2,291 tonnes in Q3FY21.

Nifty Earning Post Market Hour

Wipro Q4FY21 (Consolidated, QoQ)

  • Revenue up 3.67% at Rs 16,245 crore versus Rs 15,670 crore (Bloomberg Estimate: Rs 16,077 crore)
  • Net profit flat at Rs 2,972 crore Versus Rs 2,968 crore (Bloomberg Estimate: Rs 2,897 crore)
  • Ebit flat at Rs 3,328 crore versus Rs 3,327 crore (Bloomberg Estimate: Rs 3,230 crore)
  • Ebit margins at 20.50% versus 21.20% (Bloomberg Estimate: 20.1%)
  • U.S. Dollar revenue up 3.9% at $2,152.4 million versus $2,071 million (Bloomberg Estimate: $2,196 million)
  • Expects revenue from the IT services business to grow 11-13% in FY22. For the ongoing April-June quarter, it expects 2-4% growth, excluding new acquisitions Capco and Ampion.

Also read: Wipro Q4 Results: Large Deal Wins Drive Revenue Growth, Margin Contracts

Pledge Share Details

  • JSW Steel: Promoter Sahyog Holdings revoked pledge of 5.63 lakh shares on April 9.
  • JSW Energy: Promoter JSW Investments revoked pledge of 2.31 lakh shares on April 9.
  • Solara Active Pharma Sciences: Promoter Pronomz Ventures LLP revoked pledge of 2.60 lakh shares between February 16-19.

As reported on April 15.

Trading Tweaks

  • Price Band Revised From 20% To 10%: Aarti Surfactants
  • Ex-Date Stock Split: Sharda Motor Industries
  • Record Date Stock Split: Finolex Industries
  • Move Into Short-Term ASM Framework: Subex
  • Move Out Of Short-Term ASM Framework: United Drilling Tools

Bulk Deals

  • BCL Industries: EQ India Fund sold 1.45 lakh shares at Rs 126.60 each. Nirman Commodities Pvt. Ltd. bought 1.68 lakh shares each in two large trades at Rs 126.91 and Rs 126.48 respectively.

Insider Trades

  • Jindal Steel & Power: Promoters (Sushil Bhuwalka and Urmila Bhuwalka) bought 9,500 shares between April 7-12.

As reported on April 15.

Money Market Update

  • The rupee ended at 74.91 against the U.S. Dollar on Thursday as compared to Monday's closing of 75.06.

Also read: Rupee Goes From Asia’s Best to Worst in Two Weeks on Covid

F&O Cues

  • Nifty April futures ended at 14,600; premium of 19 points.
  • Nifty April futures shed 5.3% and 7,815 shares in Open Interest
  • Nifty Bank April futures ended at 32,255; premium of 143 points
  • Nifty Bank April futures shed 14.3% and 9,575 shares in Open Interest
  • Stocks in F&O ban: SAIL
All You Need To Know Going Into Trade On April 16
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