The key benchmark indices are likely to start on a negative note as global markets slipped following Federal Reserve governor Lael Brainard comments on possible aggressive action by the Central Bank to control inflation. As of 07:10 AM, the SGX Nifty April futures quoted at 17,877 as against the spot Nifty close of 17,957 on Tuesday.
Adani Group: The boards of Adani Enterprises, Adani Green Energy and Adani Transmission are scheduled to meet on April 08 to consider a proposal for raising funds, respectively.
TCS: The IT major informed BSE, that Kanas Department of Labor has selected the company to build a modern, secure, web-based system for the state’s unemployment insurance program.
Airlines: The government has started discussions with airlines on the removal of price bands for passenger fares. The talks started after some airlines renewed their demand to remove the pricing caps, claiming the regulation is a hurdle to the full-fledged recovery in domestic air traffic. IndiGo, Vistara are against such limits; whereas SpiceJet, Go First are not on board. READ MORE
Steel: JSW Steel, ArcelorMittal Nippon Steel India (AM/NS India), and Jindal Steel & Power (JSPL) were among the top private sector steelmakers that increased prices of hot rolled coil (HRC) - a benchmark for flat steel - by Rs 4,000-5,000 a tone in April citing rising input prices. READ MORE
Zomato: A day after the Competition Commission of India (CCI) ordered a probe into food delivery majors Zomato and Swiggy’s practices on pricing and listing of restaurants, Zomato said in a regulatory filing that it will explain to the competition watchdog that it is in compliance with relevant laws. READ MORE
Textiles: With cotton textile and yarn makers bracing for a shortfall in the supply of raw materials in the months to come, the firms have once again called upon the government to immediately allow duty free import of raw cotton. READ MORE
Bhagiradha Chemicals: The company’s board approved rights issue of 20.95 lakh equity shares in the ratio of 4:17 i.e. the shareholders shall be eligible to subscribe for 4 shares for every 17 shares held in the company. The record date is April 09. The rights issue is at Rs 400 per share; the stock last traded at Rs 1,058 on Tuesday.
Saregama India: The company’s board will meet on April 06 to fix the record date for the proposed 1:10 stock split.
Tanvi Foods: The company’s board is scheduled to meet on April 12 to consider various business proposals, including issue of bonus shares.
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