Stocks in News today – Maruti, Religare, Cairn India, Kotak Bank, L&T, Central Bnak, Sobha

Prakash Industries – Q4 production up 16.7 percent at 1.7 lakh tonne, sales up 19.5 percent at 1.69 lakh tonne (YoY)

– FY17 production up 13.4 percent at 6.15 lakh tonne, sales up 14.9 percent at 6.10 lakh tonne (YoY)

Religare to sell stake in Religare Health Insurance for Rs 1,040 cr

L&T – Appoints AM Naik as non-executive chairman for 3 years from October 1

– Appoints SN Subrahmanyan as CEO & MD from July 1

Kotak Mahindra Bank in focus – Kotak Infrastructure Debt Fund gets RBI approval for NBFC

Cairn India gets fresh demand notice of Rs 10,247 crore from tax department

Central Bank to consider entire IPDI capital of Rs 583 crore held by government to equity on April 12

NMDC total production up to March 31 at 34.03 MT, sales at 35.62 MT

Sobha promoter Sobha Menon sells 4.15 percent stake in company on April 7 via open market sale

Maruti Suzuki shifting to safer vehicles, plans to consolidate more models

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New board for indirect taxes to become operational from June 1

The Central Board of Indirect Taxes and Customs (CBIC), which will replace the current CBEC, will become operational from June 1 in preparation for the Goods and Services Tax (GST) regime, an official source said.

The Central Board of Excise and Customs (CBEC) is presently the top policy-making forum for indirect taxes in the country. “The CBIC will become operational from June 1. There will be no need for different commissionerates for service tax, central excise and others. There will be only one body Commissionerate for GST,” a CBEC source told IANS.

 

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An internal letter from the Directorate General of Human Resource Development said the notification on the CBIC will be issued in the first week of May, ahead of the July 1 rollout date for GST. The CBIC will have 21 zones, 101 GST taxpayer services commissionerates comprising 15 sub-commissionerates, 768 divisions, 3,969 ranges, 49 audit commissionerates and 50 appeals commissionerates.

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Market Magnify Silver Market Update News

Silver trading range for the day is 41045-41861.Silver gained buoyed by a dip in the dollar, as weaker than expected economic data weighed on the greenback.Feds delicate interest-rate hikes are necessary given the economy is stable and any further fall in unemployment could lead to an inflation run-up.The Commerce Department said, orders for core durable goods, a category that excludes aircraft and military goods rose 0.4% in February.

 https://www.marketmagnify.com/freetrial.php Silver on MCX settled up 0.56% at 41530 buoyed by a dip in the dollar, as weaker than expected economic data and fears that President Trump failed to secure enough Republican votes to push a key healthcare bill through congress weighed on the greenback.

 

Technically market is under short covering as market has witnessed drop in open interest by -5.76% to settled at 12636, now Silver is getting support at 41288 and below same could see a test of 41045 level, And resistance is now likely to be seen at 41696, a move above could see prices testing 41861.

निफ्टी 9075 के आसपास, सेंसेक्स करीब 100 अंक गिरा

हफ्ते की शुरुआत घरेलू बाजारों के लिए कमजोरी के साथ हुई है। सेंसेक्स और निफ्टी में 0.25 फीसदी से ज्यादा की कमजोरी नजर आ रही है। एशियाई बाजारों में दबाव के चलते घरेलू बाजारों पर असर हुआ है। कमजोरी के इस माहौल में निफ्टी 9075 के करीब आ गया है, जबकि सेंसेक्स में 100 अंकों तक की गिरावट दिख रही है।

मिडकैप और स्मॉलकैप शेयरों में थोड़ी खरीदारी नजर आ रही है। बीएसई का मिडकैप इंडेक्स 0.25 फीसदी तक बढ़ा है, जबकि निफ्टी के मिडकैप 100 इंडेक्स में 0.1 फीसदी की मामूली बढ़त दर्ज की गई है। बीएसई का स्मॉलकैप इंडेक्स 0.25 फीसदी तक मजबूत हुआ है।

 

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फार्मा, मेटल और एफएमसीजी शेयरों में सबसे ज्यादा बिकवाली का दबाव है। निफ्टी के फार्मा, मेटल और एफएमसीजी इंडेक्स में 0.5 फीसदी की गिरावट दर्ज की गई है। बैंक निफ्टी 0.15 फीसदी गिरकर 21,095 के आसपास है। हालांकि पीएसयू बैंकों और कंज्यूमर ड्युरेबल्स शेयरों में थोड़ी खरीदारी आई है।फिलहाल बीएसई का 30 शेयरों वाला प्रमुख इंडेक्स सेंसेक्स 92 अंक यानि 0.3 फीसदी की गिरावट के साथ 29,329 के स्तर पर कारोबार कर रहा है। वहीं एनएसई का 50 शेयरों वाला प्रमुख इंडेक्स निफ्टी 33 अंक यानि 0.4 फीसदी गिरकर 9,075 के स्तर पर कारोबार कर रहा है।

Gold edges down on firmer dollar, palladium hits two-year peak

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Gold slipped on Thursday as the dollar firmed, while palladium extended gains to hit a two-year high on economic data and demand from the automobile sector.
Spot gold was down 0.3 % at $1,245.26 an ounce by 2:21 p.m. EDT (1821 GMT), retreating from an intraday peak of $1,253.12, its highest since Feb. 28.
U.S. gold futures shed 0.3 % to $1,246.60.

At the MCX, gold futures for April 2017 contract is trading at Rs 28741 per 10 grams, down by 0.20 %, after opening at Rs 28763, against a previous close of Rs 28800. It touched the intra-day low of Rs 28730

Trading Ideas
*Gold trading range for the day is 28635-29031.

*Gold dropped amid a firmer dollar as markets waited to see if U.S. President Donald Trump will face hurdles on his economic agenda.

*Fed’s Kaplan said that the U.S. central bank should be moving “deliberately but patiently” to remove monetary policy accommodation.

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