Indices to open on a flat note

With F&O expiry this week, the indices could again witness wild gyrations. While a host of companies are losing weight, sectors like Metals and PSU Banks are seeing some interest. 

The​ Nifty has been witnessing wild swings in the April series. The series of falls have led to the Nifty wiping off ~650 points taking it below its 200DMA in a matter of 10 trading sessions. With F&O expiry this week, the indices could again witness wild gyrations. While a host of companies are losing weight, sectors like Metals and PSU Banks are seeing some interest. 

Meanwhile, the rupee has snapped its two-day losing trend, recovering by 8 paise to close at 63.48 against the US dollar.   The outlook is a flat start. Results will remain in focus and mid-cap counters could again see a sell-off in some counters. Bharti Airtel, Idea Cellular will be in action as they announce their numbers. Global cues are not encouraging for now. 

The Dow fell 0.23%, S&P 500 dipped 0.41% and Nasdaq dropped 0.63%. Asian markets are mixed with Japan's Nikkei 225 rising 0.64%, Hong Kong's Hang Seng index flat and China's Shanghai index trading lower.   Amtek Auto could see action on reports that it will announce a deal to buy the iron casting, forging and machining business of Asahi Tec Corporation of Japan.   The RBI on Monday said the stake of FIIs and registered foreign portfolio investors in Kaveri Seed had reached the 22 per cent ceiling. To acquire further stake in Kaveri Seed, they need RBI approval.  

The board of Crisil is meeting today to consider a share buyback programme. 

  

The board of Shiv-Vani Oil & Gas Exploration Services has approved a proposal by ICICI Bank to subscribe to the exploration and production company’s equity shares on private placement basis.   

S Kumars Nationwide has informed the exchanges that a scheme for restructuring of its debts by banks and financial institutions has been filed with the High Court of Judicature at Bombay on April 8.   

The government has raised the limit of foreign direct investment in pension sector to 49% in line with the FDI cap in the insurance sector.   Fitch Ratings has downgraded Japan's Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) to 'A' from 'A+'. The issue ratings on Japan's senior unsecured foreign and local currency bonds are also downgraded to 'A' from 'A+'. The Outlooks on the Long-Term IDRs are Stable. The Country Ceiling is downgraded to 'AA' from 'AA+' and the Short-Term Foreign Currency IDR is downgraded to 'F1' from 'F1+'.   

Maruti Suzuki witnessed a sharp rally on the back of strong Q4 earnings. The stock ended 3% higher at Rs. 3646.The company reported 60.5% surge in Q4 net profit at Rs. 1,284.24 crore, as against Rs. 800.05 crore on year-on-year basis.   Ashoka Buildcon slumped 4% to Rs. 161 after the company said it raised Rs. 500 crore through QIP route to fund its growth plans.    Pitti Laminations zoomed nearly 8% to Rs. 70.20 as the company's net profit showed a massive 134 percent jump in Q4FY15 net profit at Rs. 4.60 crore when compared with Rs. 1.96 crore in the corresponding quarter a year ago   Rolta India ended lower by 11% to Rs. 108 after Fitch Ratings cut the company's long-term foreign outlook to 'Negative'.   

Bharti Infratel jumped over 6% to Rs. 396 after the company reported 18 percent increase in its net profit to Rs. 557.5 crore in the March quarter as compared with Rs. 472.4 crore in the same quarter last year.   

Indiabulls Housing Finance gained 1% at Rs. 558 on the back of better-than-expected Q4 earnings. According to a release issued by the company to the BSE, Indiabulls Housing reported 22 percent growth in consolidated Q4 net profit at Rs. 551 crore for the quarter ended March 2015, as compared to Rs. 451 crore for the quarter ended March 2014.   

ICICI Bank stock ended lower by 2% at Rs. 302 on BSE after bank posted Q4 results. The Bank has posted a net profit of Rs. 29220.00 mn for the quarter ended March 31, 2015 as compared to Rs. 26520.10 million for the quarter ended March 31, 2014.    

Bharti Infratel jumped over 6% to Rs. 396 after company has posted Q4 results.The company reported 18 percent increase in its net profit to Rs. 557.5 crore in the March quarter as compared with Rs. 472.4 crore in the same quarter last year.   Varun Shipping Company is locked at 10% upper circuit limit at Rs. 5.40 on the BSE, on the positive news flow.  

According to media reports, Securities Exchange Board of India (Sebi) today directed Varun Shipping to resolve pending investor complaints within 30 days, failing which it would be barred from the securities market till the matters are resolved.   Global real estate consultancy, Cushman & Wakefield’s latest report on Private Equity investments in Real Estate (PERE) revealed that total inflows in the sector for Q1 2015 were Rs. 5,168 crores / Rs. 51.7 bn (bn) (USD 0.8 bn), higher by 85% from the same quarter a year ago (INR 2,800 crores / INR 28.0 bn / USD 0.4 bn). However, it was marginally lower by 5.6% compared to the previous quarter. The residential sector attracted the highest transaction volumes during the quarter with a 53% share in total investment activity, followed by the commercial office sector, which had a 47% share.  

 

Capgemini and IGATE announced that they have entered into a definitive merger agreement under which Capgemini will acquire IGATE for a cash consideration of $48 per share. The transaction will amount to $4.0 billion and is expected to be immediately accretive to Capgemini’s normalized Earnings Per Share (EPS)[1]. The merger agreement has been approved unanimously by both Capgemini’s and IGATE’s Board of Directors. The transaction has also been approved by the written consent of shareholders holding a majority of IGATE’s shares.