Kalyani Group entities claimed they had submitted applications with the compliance officer of Hikal for increasing their shareholding as per the Sebi laws. They alleged these applications were allegedly not given the go-ahead by the compliance officer based on "fabricated justification at the behest of the Hiremath family". The Audit Committee too did not approve even after the Kalyani Group entities raised the issue, they alleged.

Analysts expect the operating margin to expand by 10-70 basis points sequentially as the pressure of employee attrition eases. “We expect 30bp improvement in operating margin, led by stabilizing supply and receding attrition,” mentioned Motilal Oswal Financial Services in a preview report.

According to sources, the bidders who have confirmed their participation in the second round of auction are IndusInd International Holdings Ltd (IIHL) of Hinduja Group, Torrent Investment and Singapore-based Oaktree. The major concern of the bidders is the compliance of resolution plans with the Insolvency and Bankruptcy Code (IBC) and Request for Resolution Plan (RFRP), guidelines, as in the first round of auction, the Hinduja Group firm submitted the bid post-auction.

Analysts say robust credit offtake and resolutions of a few stressed assets too will boost March quarter performance.

On Monday, Tata Motors advanced 5.4% to log its biggest single-day gain in two-and-a-half months. It was the top Sensex performer, with more than 5 crore shares traded on the BSE and NSE, over six times its combined average daily volume in the last one month, as investor sentiment strengthened towards India's second biggest car maker.

Among the 11 major sectors of the S&P 500, communication services and technology suffer the largest percentage losses.

“Manappuram Finance has been among the top-performing names in the NBFC basket. After the initial phase of correction post listing, it witnessed a trend reversal in 2016 and scaled from the double-digit mark to a new record high of 201.22 levels in November 2021,” Ajit Mishra, VP - Technical Research, Religare Broking Ltd., said.

The Sensex remained mostly unchanged at 59,846 on Monday with a modest gain of 13 points. Amid a volatile trading session, 9 stocks in the BSE consumer discretionary index reached their highest levels in 52 weeks, a critical technical signal for some traders and investors to evaluate a stock's present worth and anticipate its future price fluctuations. The 52-week high represents the highest price at which a stock was traded over the preceding year.

Adani Group on Monday shared a letter sent to the Financial Times following its publication of an article that contained fundamental misunderstandings of prior Adani Group disclosures, and resultant inaccuracies in the story. Adani Group said in the letter that the article titled "Indian data reveals Adani empire's reliance on offshore funding" is a "mendacious, deliberate effort to attempt to paint the Adani family and the Adani Group in the worst possible light".

The fund raising for long-term requirements will be in single or multiple tranches.

Combined stake of MFs stood at 3.09% at the end of March quarter, compared with 4.43% as of December 2022. FPIs' holdings increases to 17.98% as of March quarter against 13.77% at the end of December quarter

The highly anticipated report on U.S. employment showed hiring slowed more than expected but remained steady last month.

Shares of Adani group firms saw gains on Monday on the BSE, with some companies hitting their upper circuit limits. This occurred as the group listed out details of stake sales in its firms, and investment was ploughed back into businesses to counter claims by Congress leader Rahul Gandhi. The group rebutted reports in an international publication, which allegedly was the basis of Gandhi's statement, by stating that the competitive race to tear down Adani may be alluring, but the group is fully compliant with securities laws and is not obscuring promoter ownership or financing.

Bajaj Finserv Mutual Fund has filed draft documents with Sebi to launch seven schemes in equity, debt, and hybrid spaces. These schemes include liquid funds, money market funds, overnight funds, large and mid-cap, balance advantage, and flexi cap funds. The company will launch these products after receiving approval from the regulator. With this, the total number of open-end and close-end funds launched in the calendar year 2022 reached 179 and 49, respectively, collectively garnering Rs 62,187 crore. Bajaj Finserv Ltd had received the final registration from Sebi in March 2022 to commence its mutual fund operations.

Indian equities pared the intraday gains because of rising odds of a US Federal Reserve rate hike in May and ended marginally higher on Monday, helped by strong quarterly business updates from auto and realty companies.The benchmark indices eked out gains, extending the winning streak to a sixth straight day. Logging its longest gaining streak in four months, the 30-share BSE Sensex ended up 13.54 points. Nifty settled at 17,624.Meanwhile, sectorally, it was a mixed day, with Nifty Realty emerging as the outlier, while Nifty PSU Bank was the top loser.“Overall, the consolidation shall provide an opportunity to initiate fresh longs. In terms of levels crucial support is placed at 17,550 – 17,500 while immediate hurdle is placed at 17,680 – 17,700. Overall, the uptrend is still intact and we expect the Nifty to target levels of 17,800 from a short-term perspective,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.Here are stock recommendations for Tuesday:

Analysts expect the operating margin to expand by 10-70 basis points sequentially as the pressure of employee attrition eases. “We expect 30bp improvement in operating margin, led by stabilizing supply and receding attrition,” mentioned Motilal Oswal Financial Services in a preview report.

Mutual funds invested INR 1.82 lakh crore in the Indian equities in the financial year 2022-23, primarily due to interest from retail investors and the correction in the stock market, according to data from the Securities and Exchange Board of India (SEBI). The favourable policies of the Indian government, along with its focus on investment-led growth, will drive future earnings growth, while the Production-Linked Incentive policy and China+1 drive are expected to boost the manufacturing sector and contain the country's trade deficit. Financial services, followed by IT, capital goods, auto and healthcare, were the sectors with the highest allocation in mutual fund portfolios.

Adani Group rebutted Congress leader Rahul Gandhi's claim that INR 20,000 crores had come into the conglomerate through shell firms. The entity detailed how USD 2.87 billion in stake sales since 2019 had been reinvested in business, with USD 2.55 billion of that going into portfolio firms. Adani stated that investors including International Holding Company PJSC had invested USD 2.593 billion in firms like Adani Enterprise and Adani Green Energy, while promoters sold off stakes in Adani Total Gas and AGEL to raise USD 2.783 billion. The funds were then used for new business and existing portfolio firms.

Dow falls 60.04 pts, S&P 500 opens lower by 19.82 points, while Nasdaq Composite drops 112.82 points

"While the company achieved 100 per cent of its guidance for consolidated Indian operations, production volumes at JISPL (JSW Ispat Special Products Ltd) and JSW Steel USA - Ohio were impacted due to shutdowns and subdued market conditions for part of the year," it said.

According to the fourth quarter business update released by the bank, global gross advances jumped 19% to Rs 9.73 lakh crore in the period ending March 2023. Whereas, domestic advances jumped 16.9% YoY to Rs 7.99 lakh crore. Domestic retail advances rose 26.9% YoY to Rs 1.78 lakh crore.

The presence of crucial overhead resistance and an emergence of minor weakness from the highs could indicate further consolidation or minor downward correction for the Nifty from near 17,650-17,700 levels in the coming sessions, he said.

The exchange said that these persons are not registered either as a member or authorised persons of any registered member of the NSE. Moreover, a police complaint has been lodged in this regard.

Experts advise short-term traders to look at buying the stock now for a possible target above Rs 130 in 2-3 weeks

The 30-share BSE benchmark Sensex rises 13 points; Tata Motors top gainer

Closing Bell: Sensex ends flat in volatile trade; Nifty above 17,600; ONGC rises 4%, Wipro 2%.

Due to absent competition, such drugs become huge cash cows for innovator companies. Titans in this space include companies like Gilead Sciences, J&J, Roche, Merck, Amgen, Pfizer, AbbVie, Novartis, and AstraZeneca, to name a few.

“It is a prudent strategy to invest a lump sum amount in certain mutual fund categories and use the returns to pay home loan EMIs, especially if the home loan rates are sub-8% p.a.”

India's overnight indexed swap (OIS) rates suggest the Reserve Bank of India (RBI) will cut interest rates towards the end of 2023. The rates plunged after the RBI kept the repo rate at 6.50% last week. ICICI Securities Primary Dealership senior economist Abhishek Upadhyay said the swaps market was also pricing in the same. Nomura economists said they expected consensual cuts in the October-March period of 75 basis points, after the RBI halted its policy of sixeenth rate hikes totaling 250 basis points in fiscal 2023.

Last month, Financial Times carried a report saying that offshore companies linked to the Adanis invested at least $2.6 billion in the group between 2017 and 2022, which is 45.4% of the more than $5.7 billion it received in total FDI over the period.

As the earning season kicks off with TCS results on 12th April, focus would stay on top 5 IT companies. However, there is more to the IT sector. It is mid and small cap IT stocks. While they have been in correction mode for the last more than nine months, if one looks at the bigger picture, after April 2020, mid and small cap companies have gone through a sea change both in their business models, customer profiles and most importantly their valuation matrix.

In a recent exchange filing, the company said it has achieved a new milestone in offline payments with the deployment of 6.8 million Paytm payment devices like Soundbox and PoS. In just one year, the company has gone to 6.8 million devices deployed from 2.9 million devices a year ago.

The company said it is splitting its shares to improve the liquidity of the company's shares in the market and make it more affordable for small investors and retail investors. The split will be completed within 3 months from the approval of the Board.

Reliance Retail and Adani Group JV have shown interest in acquiring Future Retail. As many as 49 applications have been received so far in acquiring Future Retail. Even previously, Reliance Retail and Adani Group JV had submitted bids for Future Retail, however, the prospective resolution applicants (PRAs) did not turn up at the time of submission of the final bid. ET NOW's Ankur Mishra has all the exclusive details.

"The Board of Directors of the company approved the payment of a second interim dividend for the financial year 2022-23 at Rs 4 (Four rupees only) per share," the company said in a filing.

The fallout from Silicon Valley Bank’s collapse has spurred mixed narratives as to where policy and markets are headed. While worries of a recession are mounting, they’re also stoking optimism that the Fed will be forced to pause its rate-hike campaign, even as the central bank grapples with sticky inflation.

In CY23, the Nifty Metal index has been struggling. It has recorded a decline of roughly 18%, making it the worst performer so far. Compared to this, the benchmark Nifty has only dropped by about 3%. Out of the 15 stocks that constitute the Nifty Metal index, 12 have witnessed a negative performance in CY23, with five of them witnessing a significant decline of 10-55% in just over three months. Despite this, four out of these five stocks have the potential for growth, with a possible upside of 25-100%, according to Trendlyne data. (Data Source: ACE Equity)

The listing of the 10 companies on the main boards in Shanghai and Shenzhen marks the full roll-out of China's U.S.-style IPO mechanism, designed to make public share sales more market oriented. The system had already been adopted by Shanghai's tech-focused STAR Market, Shenzhen's start-up board ChiNext and the Beijing Stock Exchange for small companies

The company caters to data management and decision support services across banking & financials, healthcare & lifesciences, supply chain & logistics, energy, education and environment.

Japanese stocks closed higher on Monday, with the yen a touch weaker, on hopes the global economy could hold up in the face of high inflation and interest rates, but moves were modest ahead of Bank of Japan Governor Kazuo Ueda's first news conference.

The company owns large and small format stores under the Big Bazaar Brand. It also has a 100% subsidiary which runs nearly 100 stores under the WH Smith brand. The shares of the subsidiary could be available for a buyer to purchase. The company also owns the Foodhall brand of stores though the stores under the brand number are under ten currently

After three months of volatile movement with bearish bias, the underlying trend in the volatility has shown the first sign of turning toward bulls. But the overall trend remains volatile. Even in such times during this period, some stocks have seen an improvement in their analyst scores. The selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.

This year's summit will be held entirely online, with a lineup of expert speakers and interactive breakout sessions designed to provide attendees with valuable insights and networking opportunities.

In Q3 FY23, Adani Total Gas posted 17% growth in consolidated net profit at Rs 150 crore. The same was Rs 128 crore in the corresponding quarter of last year. Its revenue from operations rose 27% year-on-year (YoY) to Rs 1,185 crore for the third quarter of FY23. It was Rs 931 crore in the same quarter last year.

The stock started its upward journey after making a 52-week low of Rs 81 on 20th June 2022. It started making higher highs and higher lows, but the momentum fizzled out in August 2022.

The quarter and the financial year also marked the company’s highest-ever project deliveries. The developer delivered projects aggregating over 10 million sq ft across 5 cities in 2022-23 including 7.6 million sq ft in the fourth quarter.

There were gains of 10, 5, and 15 points in five sessions. We are looking at a 5-day pattern, so we divide it by 5. Hence, the average gains are 6 points. Losses add up to 10-points, 5 points in two sessions. When divided by five, the average loss is 2 points.

The price of this company had formed a short-term peak in early March at Rs 933 and has been sliding lower, thereafter. A few sessions’ price was consolidating and has now given a trendline resistance breakout, after forming a higher low. This breakout is supported by a rise in volume which increases the reliability of the breakout.

The stock started its upward journey after making a 52-week low of Rs 81 on 20th June 2022. It started making higher highs and higher lows, but the momentum fizzled out in August 2022.

The price of this company had formed a short-term peak in early March at Rs 933 and has been sliding lower, thereafter. A few sessions’ price was consolidating and has now given a trendline resistance breakout, after forming a higher low. This breakout is supported by a rise in volume which increases the reliability of the breakout.