Indices at previous closing
Nifty50: 14,867 ▲ +176 (+1.2%)
Sensex: 50,029 ▲ +520 (+1.0%)
Nifty Bank: 33,858 ▲ +554 (+1.6%)
In the news
Adani Enterprises bags large NHAI order
- Adani Enterprises has received two orders totalling ₹3,189 crore from the NHAI. These orders are for six-laning sections of highways passing through West Bengal and Odisha.
- The company will complete both orders in the next 2–2.5 years. Its shares rose 7.1% on Thursday, but the news of the NHAI orders came after market hours.
NTPC to raise debt for renewable energy biz
- NTPC will reportedly raise debt worth ₹2,100 crore to finance its new and existing renewable energy projects.
- The company aims to expand its renewable capacity to 32 gigawatt by 2032, most of which will come from solar and wind projects. NTPC’s stock rose 3.5% last week.
SAIL posts record sales in Q4FY21
- The state-owned steel maker reported sales of 4.27 million tonnes, its record quarterly sales in the January-March quarter. The figure was 14% higher year-on-year, and 3% higher versus Q3.
- Furthermore, the company reduced its gross debts by around 30% to ₹16,150 crore, in FY21. Its outstanding provisional debt stands at ₹35,330 crore. The stock rose 5.7% on Thursday.
US job market sees strong revival in March
- Vaccination rollout and fewer business restrictions led to a strong recovery in the US labour market. The US non-farm payrolls for March increased by 916,000 compared to the street expectation of 647,000.
- The pick-up in the labour market indicates that businesses have a better view of the potential demand going forward. The US markets closed on a bullish note with the Dow Jones gaining 0.2% and the tech-heavy Nasdaq closing 2.6% higher for the week.
Events of the week
Monday: Manufacturing PMI (India)
Wednesday: RBI’s Interest rate decision, Services PMI (India), Crude oil inventories (US)
Thursday: Initial jobless claims (US)
Global markets (at 8:45 am)
| Indices | Today's movement |
| Nikkei 225 (Japan) | ▲ 0.7% |
| Hang Seng (Hong Kong) | ▲ 1.9% |
| SSE Composite (China) | ▲ 0.5% |
| Dow Jones (US) (1 April) | ▲ 0.5% |
Fact of the day
3M is the company that owns the iconic Scotch Tape brand. It also makes the Scotch Brite line of products. Till 2002, the company's name was Minnesota Mining and Manufacturing Company and hence the name 3M.
Source: 3m.com
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Investment in securities markets are subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.