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BSE Power index gained 1 percent led by Adani Transmission, NHPC, Adani Power
Receives malware threat on the lT systems, precautionary measures taken: Oil IndiaA Malware threat on the IT systems of Company was noticed by the Officials and on 10.04.2027 after receipt of the report of malware threat, precautionary measures were taken by the Company. Network management service providers and the Anti-Virus Team were also immediately informed about the incident. The incident was also reported to CERT-in, company clarifies on BSE.We would like to state that there has been no bearing on the operations / performance of the company due to the said malware threat which warrants public announcement. Presently, uninterrupted operations are going-on and business continuity is maintained, company added.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services:
The dominant near-term feature of this market is the massive FII selling. In a context devoid of positive news, this massive delivery based selling, particularly in bluechips, is dragging the market down. An important point to note is that yesterday the market collapse happened in the last hour. This indicates ETF selling. There is a clear see-saw battle between the pessimistic FIIs and the optimistic DIIs. Who will ultimately win this battle only time can tell.
Meanwhile, retail investors can bottom fish in this market where indiscriminate ETF selling has dragged down high quality stocks with good earnings visibility. There is good value emerging in telecom and select financials. If IT, which is weak now, corrects further, there will be opportunities for cherry picking. Calibrated buying can begin now.
Market at 10 AMBenchmark indices were trading higher with Nifty above 17100 led by auto, power oil & gas stocks.The Sensex was up 495.09 points or 0.88% at 56958.24, and the Nifty was up 154.00 points or 0.91% at 17112.70. About 2049 shares have advanced, 846 shares declined, and 120 shares are unchanged.
ACC report card is out: Should investors buy, sell or hold stock?
ACC on April 19 reported a 41 percent increase in consolidated profit after tax of Rs 396 crore for March quarter as compared to Rs 281 crore in the previous period.
Prashanth Tapse, Vice President (Research), Mehta Equities:
Taking hint from a sharp upsurge in SGX Nifty and overnight rally in US indices, domestic markets may lap up gains in today’s early trades.
However, the biggest negative catalyst is that the IMF has slashed India’s FY23 GDP growth forecast to 8.2%. Also, if last 5-days bearish trading action at Dalal Street is any indication then market turbulence may again be a theme in today’s trading session on backdrop of headwinds like surging inflation, recession fears, growth concerns, FIIs selling, subdued start to fourth quarter earnings, and the 10-year U.S Treasury yield touching 2.93%.
HDFC announces sale of 10% equity in HDFC Capital to ADIAHousing Development Finance Corporation (HDFC) entered into binding agreements for sale of 2,35,019 equity shares of Rs 10 each of HDFC Capital Advisors Limited (HCAL), its wholly owned subsidiary, representing 10% of the fully diluted paid-up share capital of HCAL. The said shares are proposed to be sold by the Corporation to a wholly owned subsidiary of Abu Dhabi Investment Authority (ADAI), the principal investor of all the alternate investment funds currently managed by HCAL.
Nifty Auto index added 1 percent led by the Eicher Motors, Bharat Forge, Maruti Suzuki
Buzzing:Reliance Industries trading near its 52-week high level of Rs 2,751.35 on the NSE.Broking hose Motilal Oswal with a target price of Rs 2, 880, reiterate its buy rating on the stock.
BSE Oil & Gas index rose 1 percent supported by the Adani Total Gas, Reliance Industries, IOC, BPCL
Coal India share price rises to highest level since January 2020. The stock touched a 52-week high of Rs 205.55 on April 20.On April 19, company announced that, amid the spiraling power generation, Coal India Limited (CIL) raised its supplies to thermal power stations by 14.2% during the first half of April’22 compared to same period last April.CIL’s supplies have hit 1.64 million tonnes (MTs) per day during this period against 1.43 MTs of similar period April’21.
