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.
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.
Aviation Stocks
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.
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.
Saregama India
The company’s board will meet on April 06 to fix the record date for the proposed 1:10 stock split.
Tata Steel
Tata Steel India achieved highest-ever annual crude steel production of 19.06 million tons, with a growth of 13 percent YoY. Tata Steel India deliveries increased by 6 percent YoY in FY22, surpassing the previous best recorded in FY21. Tata Steel Europe steel production in FY22 grew by 6 percent YoY and total deliveries increased by 2 percent YoY, driven by broad-based improvement in most steel consuming sectors.
Marico
The FMCG company said revenue growth in Q4FY22 was in the low single digits, while volumes were marginally positive on an exceptionally high base (25 percent), leading to double-digit volume growth on a 2-year CAGR basis. Consolidated revenue growth in the quarter touched high-single digits.
Ruchi Soya Industries
The company’s board of directors has approved the allotment of 6.61 crore equity shares worth Rs 4,300 crore.
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.
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.
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