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Morning Alert.. *Medical device makers look to hike Russia exports to Rs 2,000 cr in 5 years* India’s exports of medical devices to Russia can be tripled in the next five years through collaborative efforts by both countries, according to the Association of Indian Medical Device Industry (AiMeD). The push to shore up Indian medical device exports to Russia comes after players from both countries recently held an online meeting to explore opportunities in the areas of manufacturing and marketing life-saving medical equipment and devices. “They stressed the need for a dynamic and multifaceted economic engagement, guided by shared interests and a commitment to further deepen bilateral cooperation. The two organisations will contribute in their own humble manner in line with that objective,” AiMeD said in an official statement. The online event was attended by over 70 Indian manufacturers and exporters alongside some key Russian investors. Data compiled by AiMeD shows that India exported most medical devices to the US at $668.9 million in FY 2022-23. This was followed by Germany ($176.2 million), China ($145.6 million), and the Netherlands ($106.5 million). *Global market action* Dow Jones – Up by 0.02% or 8.08 points FTSE – Up by 1.62% or 128.02 points CAC – Up by 0.22% or 17.95 points DAX – Up by 0.70% or 123.44 points Gift Nifty – Up by 0.04% or 9 points *FII/DII activities* FII – Sold 2915.23 Cr worth of shares DII – Bought 3542.93 Cr worth of shares. *Stocks with high delivery Percentage* Prestige Estates Projects Ltd – 90% Sapphire foods India Ltd – 89.5% P&G Hygiene & Health care Ltd – 87.2% Ajanta Pharma Ltd – 86.4% Macrotech Developers Ltd – 85.1% *Primary market activities* IPOs opening today JNK India Ltd (Main board) – Issue size 649.47Cr Emmforce Autotech Ltd (BSE SME) – Issue size 53.90Cr Shivam Chemicals Ltd (BSE SME) – Issue size 20.18Cr Listing today Ramdevbaba Solvent Ltd (NSE SME) – Subscribed 126.21x Grill Splendour Services Ltd (NSE SME) – Subscribed 8.68x *Commodities updates* Gold – Rs 75050/10gm, Silver – Rs 80550/kg, Brcrude – Rs 6820/barrel, Copper – Rs 844.10/kg. *Corporate News* RIL Q4 results: Profit falls 1.8% to Rs 18,951 cr, Rs 10 dividend announced. Vodafone Idea's FPO booked 6.4 times as foreign investors bet big Persistent Systems Q4 results: Net profit rises 25.4% to Rs 315.3 crore.

Strongly trade near upper circuit 🚀🚀

RUDRA GLOBAL Stock is looking strong on charts, likely to make a upside move to upper circuit Improved delivery volumes has given support. Important technical levels S1 - 37 S2 - 35 R1 - 48 R2 - 60

Near To Hit Strong Upper circuit 🚀🚀🚀🚀

Hidden Hero Aartech Solonics Ltd. has pioneered the development of India’s first import substitute fast bus transfer system for power plants and continuous process industries, and remains a market leader in this field. The company manufactures custom-built electrical systems for power stations, receiving stations, sub stations, distribution networks, process plants and variety of industries. The company supplies its products to defense & exploration, renewable energy, non-renewable, transportation, power T&D, heavy engineering, IT & Telecom & healthcare sectors. For the first nine months of this FY its sales and profit increased 95 and 154 per cent respectively. It is a micro-cap company but has potential to become mid cap in coming years.

Ready to Hit Upper Circuit ✈️

Important & Latest announcement Rudra Global Infra Products Ltd...

https://www.livemint.com/companies/company-results/rudra-global-infra-products-q3-fy24-results-live-profit-rises-by-26-27-yoy-11708118818202.html

RUDRA GLOBAL INFRA Looking attractive at the lower levels now, Upside Resistances 42-48-56 & Support at 37 🚀

Likely to hit Uppper Circuit 🚀

Disclaimer : Stock discussed here are only meant for educational purpose, please ask your financial advisor before getting into any trade.

Aartech Solonic A Defence Play stock with super high Potential, upside resistance will be touched at 300 & on the lower end support is placed at 191.

Super Strong potential 🏌‍♂

Aartech Solonic 🏌‍♂

Defence Multibagger Stock 🚀 3 x Potential Aartech Solonics, (CMP – 226 ), is a manufacturer of Electrical Machinery and Apparatus N.E.C. Company is a system solution-oriented R&D enterprise in the field of specialized and selected energy appliances. Company has ROCE of 8.31% and ROE of 5.19%. It is a regular dividend paying counter having dividend yield of 0.28%. Company has minimal debt of 2.66Cr with debt equity ratio of just 0.02x. Also, company has recently made some investments in UK by forming subsidiary under the name of Aartech Solonics UK Limited. We expect some technical investments by company through this subsidiary. Stock is consolidating near its all time high levels. One base is created we expect strong momentum in this counter making new all time high.

Morning Alert.. *Indian refiners may need a rethink amid shrinking Russian crude discounts* India’s appetite may be waning for crude oil from Russia, the country’s biggest source, with discounts shrinking by 77 per cent from a record high in early 2023, and by 61 per cent from the months after the invasion of Ukraine in February, suggests exclusive data accessed by Business Standard. But even record-low discounts at present are offering value to India’s state-run refiners, which are grappling with the inability to adjust pump prices for nearly two years. They lowered petrol and diesel rates by Rs 2 per litre last month, despite rising crude oil prices. Discounts on Russian crude oil could currently be contributing $1.5 to $2.5 per barrel to gross refining margins (GRMs) of state oil refiners, but there are no official numbers available, said Swarnendu Bhushan, co-head of research at Mumbai-based brokerage Prabhudas Lilladher. The refiners are securing 20-30 per cent of their crude oil imports from Russia, he added. The contribution accounted for around 15 per cent of the average GRMs posted in the nine months to December 2023. *Net direct tax collection surpasses RE in FY24; corp tax receipts a miss* Direct tax collection, net of refunds, moderately exceeded the revised estimates (RE) for the financial year 2023-24 (FY24) on the back of personal income tax revenues, but corporation tax receipts fell short of the RE. Net direct tax collection stood at Rs 19.58 trillion in FY24, surpassing the RE of Rs 19.45 trillion by Rs 13,000 crore, or 0.7 per cent. The government had revised up FY24 projections for personal income tax by 13.5 per cent over the Budget estimates (BE) of Rs 9 trillion, at Rs 10.22 trillion. The actual collection (including securities transaction tax), however, exceeded the RE by 2.1 per cent at Rs 10.44 trillion. On the other hand, the RE for corporation tax was kept at the same level as the BE, at Rs 9.23 trillion for the year. Even then, the mopup fell short of the estimates by Rs 12,000 crore, or 1.3 per cent, at Rs 9.11 trillion. *Global market action* Dow Jones – Up by 0.20% or 75.16 points FTSE – Up by 0.24% or 18.80 points CAC – Down by 0.01% or 0.85 points DAX – Down by 0.56% or 100.04 points Gift Nifty – Up by 0.79% or 174 points *FII/DII activities* FII – Bought 129.39 Cr worth of shares DII – Sold 52.50 Cr worth of shares. *Stocks with high delivery Percentage* TTK Prestige Ltd – 94.9% Sundaram Fasteners Ltd – 89.3% Grindwell Norton Ltd – 86% JB Chemicals & Pharma Ltd – 84.9% Eris Lifesciences Ltd – 84.7% *Primary market activities* IPOs opening today Varyaa Creations Ltd (BSE SME) – Issue size 20.10Cr Listing today Greenhitech Ventures Ltd (BSE SME) – Subscribed 769.95x *Commodities updates* Gold – Rs 75875/10gm, Silver – Rs 83524/kg, Brcrude – Rs 6893/barrel, Copper – Rs 845.4/kg. *Corporate News* Hero MotoCorp opens assembly facility with 75,000 units capacity in Nepal. UltraTech Cement buys grinding unit from India Cements, announces expansion. ICICI Bank: The Board to consider raising of funds by way of issuance of debt securities on April 27, 2024. Allcargo Gati- March 2024 business update: Total volume, including surface and air express, stood at 111 kt, recording an increase of 3% as compared to March 2023.

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*HDFC Bank Q4* Net Profit at Rs 16512.0 crore versus poll Rs 17315.0 crore NII at Rs 29077.0 crore versus poll Rs 28876.0 crore Provisions at Rs 13810.0 crore versus Rs 4604.0 crore QoQ Gross NPA at 1.24% crore versus 1.26% QoQ Net NPA at 0.33% crore versus 0.31% QoQ Board has recommended Dividend of Rs 19.5/Sh NIM at 3.44% versus poll 3.40% (Profit numbers seen lower on back of higher provisions QoQ, asset quality seen inline)

*News Headlines from Business News Agencies:* *Business Standard* 📝 HDFC Life Q4FY24 results: Net profit up 14.8% Y-o-Y at Rs 411 cr 📝 NSE to launch derivatives on Nifty Next 50 index from Apr 24, gets Sebi nod 📝 ReNew, JERA to jointly evaluate green ammonia projects in Odisha 📝 India's FY24 pulses imports hit 6-year high as red lentil purchases jump 📝 After media report, Nestle India says cut added sugars in baby cereal range 📝 Blackstone reports 1% rise in 1st-quarter earnings on growth in fee income 📝 Musk's India visit sparks expectations for Tesla investment and expansion 📝 Orders for ABB globally fall, drag share price for India-listed entity 📝 Sales of first electric car 'SU7' 3-5 times higher than expected: Xiaomi 📝 Apple's India push puts Tamil Nadu on top on electronic exporters 📝 Quess Corp Ajit Isaac seals record real estate deal at Rs 67.5 cr 📝 ITC Infotech to acquire Pune-based Blazeclan Technologies for Rs 485 crore *Economic Times* 📝 Bajaj Auto Q4 Results: PAT jumps 35% YoY to Rs 1,936 crore 📝 India says it is ready to mitigate economic impact of Iran-Israel conflict 📝 Axis Bank revises savings, salary account tariff structure with effect from April 1, 2024 📝 Power Mech Projects bags orders worth Rs 232 crore 📝 India smartphone up 15% on year in Q1, continues recovery: Canalys 📝 India's trade deficit with ASEAN expands since FTA of 2010 📝 Kotak Mutual Fund files draft document with Sebi for special opportunities fund 📝 NHAI identifies 33 highway stretches for monetisation in FY25 📝 Surbhi Goel to be appointed first female CEO of Munich Re India 📝 SDLG opens its first manufacturing facility in Bengaluru 📝 Hiring in electronics industry sees a hike of 154% year-on-year in March: Quess Corp *Mint* 📝 Infosys Q4 results: Net profit rises 30% to ₹7,969 crore, revenue up by 1.2% 📝 Infosys Q4 Results: Attrition rate declines further to 12.6% 📝 Tata Motors plans JLR luxury cars production at $1 bn Tamil Nadu plant: Report 📝 Bharti Airtel divests Sri Lanka operations, merges with Dialog Axiata 📝 Hyundai starts setting the stage for India’s biggest IPO 📝 Goldman initiates coverage on Power Grid & Hitachi Energy with 'buy' rating 📝 FSSAI to examine charges against Nestle on adding sugar in baby food products 📝 NCLT grants Byju's one week to settle payment dispute 📝 Tata Group in talks with Fabindia promoters for stake acquisition, says report 📝 News aggregator Dailyhunt parent acquires US-based Magzter 📝 SpiceJet hit with new insolvency claims by three lessors over ₹77 crore dues

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Defence Multibagger Stock 🚀 3 x Potential Aartech Solonics, (CMP – 216.70 ), is a manufacturer of Electrical Machinery and Apparatus N.E.C. Company is a system solution-oriented R&D enterprise in the field of specialized and selected energy appliances. Company has ROCE of 8.31% and ROE of 5.19%. It is a regular dividend paying counter having dividend yield of 0.28%. Company has minimal debt of 2.66Cr with debt equity ratio of just 0.02x. Also, company has recently made some investments in UK by forming subsidiary under the name of Aartech Solonics UK Limited. We expect some technical investments by company through this subsidiary. Stock is consolidating near its all time high levels. One base is created we expect strong momentum in this counter making new all time high.

Defence sector is the top highlight now, Aartech Solonic is also a defence company with high growth potential on upside.

https://www.ndtv.com/world-news/israel-iran-war-live-updates-israel-strikes-hit-iran-airport-tehran-says-shot-down-several-drones-10-facts-5474259

Important announcement by the company

Aartech Solonic 🏌‍♂

🚀 AARTECH SOLONIC 🚀 Stock might hit upper circuit again in this negative market.

Morning Alert.. *FPIs pull out of debt, selling pressure may continue until bond inclusion* The debt market saw a reversal of fortunes in April after a year of consistent robust monthly inflows from foreign portfolio investors (FPI). Market participants anticipate that the selling pressure will persist, with the expectation that the bond market will regain its stability following the JPMorgan bond index inclusion in June. “There might be selling for some time by the active investors who had come in,” said Vikas Goel, managing director and chief executive officer, PNB Gilts. “It is temporary…there will be some outflow but it will be marginal. There is no trigger now to be buying, and that is why I think there is some amount of selling,” he added. In April so far, foreign investors have pulled out a net of Rs 3,592 crore from the debt market due to the surge in US Treasury yields and escalating geopolitical tensions in West Asia. On Tuesday, FPIs sold Rs 3,363 crore worth of bonds in a single day. In the current week, they have sold around Rs 2,669 crore worth of government bonds. FPIs’ investment in government bonds fell by around 5.5 per cent in the past month. They sold Rs 6,530 crore worth of five-year bonds, which is the most liquid bond among fully accessible route (FAR) securities. *Global market action* Dow Jones – Down by 1.19% or 448.69 points FTSE – Up by 0.37% or 29.06 points CAC – Up by 0.52% or 41.75 points DAX – Up by 0.38% or 67.38 points Gift Nifty – Down by 1.53% or 337.50 points *FII/DII activities* FII – Sold 4260.33 Cr worth of shares DII – Bought 2285.52 Cr worth of shares. *Stocks with high delivery Percentage* Aptus Value Housing Finance India Ltd – 94% Pfizer Ltd – 87.7% Vedant Fashion Ltd – 86.7% Endurance Technologies Ltd – 86.5% Kajaria Ceramics Ltd – 86.4% *Primary market activities* IPO opening today Faalcon Concepts Ltd (BSE SME) – Issue size 62Cr *Commodities updates* Gold – Rs 75515/10gm, Silver – Rs 83309/kg, Brcrude – Rs 6930/barrel, Copper – Rs 838.50/kg. *Corporate News* HDFC Life Q4 results: Net profit up 15% at Rs 411 cr on back book gain. Bharti Airtel signs deal to merge Sri Lankan unit with Dialog Axiata. Tata Motors plans Jaguar Land Rover EV imports to India under new policy.

Likely to Hit Upper Circuit 🚀

Likely to Hit Upper Circuit 🚀

Important updates

Likely to Hit Upper Circuit 🚀

Classic flag and pole pattern break out in AARTECH SOLONICS Look at the daily chart of the AARTECH SOLONICS. Stock has given the flag pattern break out after strong consolidation between 130-180. Now 180 will act as strong support levels while upper side 230/250 will act as resistance levels.

Morning Alert.. *Crude oil import bill shrank 15.9% in FY24, thanks to Russia shipments* Discounts on a steady stream of Russian crude have led to India’s crude oil import bill shrinking by 15.9 per cent to $132.4 billion in FY24 (2023-24), down from $157.5 billion in the previous year, even as import volumes remained the same. The crude oil import bill had risen by 30.4 per cent in FY23, data shows. However, the country imported almost the same amount of crude oil by volume in FY24, bringing in 232.5 million metric tonnes (mmt) of crude in FY24, official data released on Wednesday by the Petroleum Planning and Analysis Cell showed. This was marginally down by 0.1 per cent as compared to FY23. This was also the second year that import volumes have remained above the pre-pandemic levels. Imports stood at 226.9 mmt in 2019-20, falling to 196.4 mmt in 2020-21. However, India’s import dependency hit a fresh high of 87.7 per cent in FY24, up from 87.4 per cent and 85.5 per cent in the previous two years. When calculated based on the consumption of petroleum products, import dependency on crude oil inched up to 88 per cent in March. *Indian economy projected to grow 6.5% in 2024, suggests UNCTAD report* India's economy is projected to grow by 6.5 per cent in 2024, according to a report by the UN which noted that multinationals extending their manufacturing processes into the country to diversify their supply chains will have a positive impact on Indian exports. UN Trade and Development (UNCTAD) in its report released on Tuesday said that India grew by 6.7 per cent in 2023 and is expected to expand by 6.5 per cent in 2024, continuing to be the fastest-growing major economy in the world. The expansion in 2023 was driven by strong public investment outlays as well as the vitality of the services sector which benefited from robust local demand for consumer services and firm external demand for the country's business services exports, the report said, adding that these factors are expected to continue to support growth in India in 2024. The report also noted the increasing focus by multinationals on India as a manufacturing base as they diversify their supply chains, a reference to China. In the outlook, an increasing trend of multinationals extending their manufacturing processes into India to diversify their supply chains will also have a positive impact on Indian exports, while moderating commodity prices will be beneficial to the country's import bill, it said. *Global market action* Dow Jones – Up by 0.18% or 67.40 points FTSE – Up by 0.35% or 27.63 points CAC – Up by 0.62% or 48.90 points DAX – Up by 0.0.02% or 3.79 points Gift Nifty – Up by 0.19% or 42.50 points *FII/DII activities* FII – Sold 4468.09 Cr worth of shares DII – Bought 2040.38 Cr worth of shares. *Stocks with high delivery Percentage* TTK Prestige Ltd – 95.7% Aptus Value Housing Finance India Ltd – 92% Emami Ltd – 91.7% Sundaram Fasteners Ltd – 90.3% Vmart Retail Ltd – 89.6% *Primary market activities* FPO opening today Vodafone Idea Ltd – Issue size 18000Cr *Commodities updates* Gold – Rs 75400/10gm, Silver – Rs 83470/kg, Brcrude – Rs 6926/barrel, Copper – Rs 829.80/kg. *Corporate News* ICICI Lombard Q4 net up 19% to Rs 519.50 cr driven by premium growth. Ahead of FPO, Vi raises Rs 5,400 cr, anchor book subscribed over 2x. Adanis invest another Rs 8,339 cr in Ambuja Cements, promoter stake up 70%.

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Morning Alert.. *India's exports shrink 3% in FY24 but tide is turning, says govt* Snapping the trend of growth in three consecutive months, goods exports in March year-on-year (Y-o-Y) contracted a moderate 0.67 per cent to $41.68 billion due to falling commodity prices and persistent geopolitical challenges. With March being the seventh month when exports contracted in 2023-24, on a cumulative basis outbound shipments saw a 3.11 per cent decline at $437.06 billion, the data released by the commerce department on Monday showed. The contraction came after exports grew during the last two financial years. However, Commerce Secretary Sunil Barthwal exuded optimism and said exports had moved into a “positive cycle of growth”, particularly in the calendar year 2024. “This year was extremely difficult for trade. The Russia-Ukraine war continues, and other conflicts came up. There was a huge issue due to the Red Sea (crisis) and Panama Canal. There were recessionary trends as well … We have beaten all odds,” Barthwal said. The commerce secretary said that sectors such as electronic goods, drugs, and pharmaceuticals had done well despite adversities. *West Asia flare-up roils equity, rupee; Sensex, Nifty slip over 1%* The Indian equity benchmarks declined on Monday as Iran’s missile and drone strike on Israel prompted investors to flee risky assets. The losses, however, were contained as investors shrugged off concerns of a wider war amid diplomatic efforts to contain the crisis. The rupee, too, depreciated to a fresh closing low of 83.45 per dollar on Monday but it performed better than most Asian currencies. Gold continued to witness a safe-haven rush but pressure eased. Though India’s 10-year government bond yield remained largely flat, the 10-year US Treasury yield rose as much as 11 basis points to 4.63 per cent, the highest level since mid-November. After declining more than 1 per cent for a second day, the Sensex ended the session at 73,400, dropping 845 points or 1.14 per cent -- its sharpest decline since March 27. The Nifty 50 ended at 22,273, a drop of 247 points or 1.1 per cent. Foreign portfolio investors (FPIs) sold shares worth Rs 3,268 crore, while domestic institutional investors pumped in nearly Rs 4,800 crore. *Global market action* Dow Jones – Down by 0.30% or 111.93 points FTSE – Down by 0.38% or 30.05 points CAC – Up by 0.43% or 34.28 points DAX – Up by 0.54% or 96.26 points Gift Nifty – Down by 1.04% or 231.50 points *FII/DII activities* FII – Sold 3268 Cr worth of shares DII – Bought 4762.93 Cr worth of shares. *Stocks with high delivery Percentage* Astrazeneca Pharma India Ltd – 87% Blue Dart Express Ltd – 83.5% Hindustan Unilever Ltd – 80.8% SIS Ltd – 79% DOMS Industries Ltd – 77.6% *Primary market activities* Listing today DCG Cables & Wires Ltd (NSE SME) – Subscribed 16.96x Teerth Gopicon Ltd (NSE SME) – Subscribed 75.54x *Commodities updates* Gold – Rs 74590/10gm, Silver – Rs 83810/kg, Brcrude – Rs 7134/barrel, Copper – Rs 831.95/kg. *Corporate News* Mahindra Group to invest nearly Rs 1,200 cr in renewable energy projects. Vodafone Idea earmarks Rs 5,720 crore to roll out 5G wireless network. Jio Financial-BlackRock JV to launch wealth management, broking business. Vedanta secures 11-year Rs 3,900 crore loan from PFC, says report.

Morning Alert.. *States fiscal deficits for FY24 likely to be close to 3.1% of GDP: Citi* The actual fiscal deficit of states for the financial year 2023-24 (FY24) is expected to be closer to the original budgeted estimate of 3.1 per cent of the Gross Domestic Product (GDP) instead of the revised estimate of 3.5 per cent, with both revenue and expenditure showing a lower growth than estimated, an analysis of 22 state Budgets by Citi Research showed. According to Citi Research’s report titled ‘India Economics, State Finances: A Tale of Capex, Grants and Borrowings’, this indicates that “overall, the states are within their borrowing limits.” “However, at least 6 of the 22 states that we tracked have budgeted for a fiscal deficit higher than 3.5 per cent in FY25,” it said. The report suggested that grants from the Centre to states were falling due to no GST compensation funds and lower finance commission grants. Due to this, grants from the Centre which accounted for 18-19 per cent of total state revenues, could fall to 15 per cent for FY24-FY26, the report said. Besides, of the total Rs 2.95 trillion granted to states in the FY22-FY26 period by the Finance Commission, 87 per cent was already distributed in FY22-FY24. Grants would be substantially lower for the FY25-FY26 period, the report said. *Global market action* Dow Jones – Down by 1.65% or 270.80 points FTSE – Up by 0.91% or 71.78 points CAC – Down by 0.16% or 12.91 points DAX – Down by 0.13% or 24.16 points Gift Nifty – Up by 0.60% or 134.50 points *FII/DII activities* FII – Sold 8027 Cr worth of shares DII – Bought 6341.53 Cr worth of shares. *Stocks with high delivery Percentage* ZF Commercial Vehicle Control Systems India Ltd – 94.2% SIS Ltd – 90.4% Kansai Nerolac Paints Ltd – 89.2% Cholamandalam Financial Holdings Ltd – 87.5% Sundaram Fasteners Ltd – 86.7% *Primary market activities* IPOs opening today Ramdevbaba Solvent Ltd (NSE SME) – Issue size 50.27Cr Grill Splendour Services Ltd (NSE SME) – Issue size 16.47Cr *Commodities updates* Gold – Rs 74360/10gm, Silver – Rs 83040/kg, Brcrude – Rs 7190/barrel, Copper – Rs 821.55/kg. *Corporate News* TCS will continue to hire despite decrease in headcount: CHRO Lakkad. Godrej Locks eyes 50% market share, bets big on new cheaper products. Mphasis announced a multi-year global Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS) to launch Gen Al Foundry for Financial Services.

Morning Alert.. *Equity euphoria boosts mutual fund investor additions by 70% in FY24* Mutual funds (MFs) added 70 per cent more investors in the financial year 2023-24 (FY24) than in FY23 on the back of an equity market turnaround. MFs onboarded 6.8 million unique investors in FY24, taking the total MF subscriber count to 44.5 million. In FY23, the additions stood at 4 million. The rebound in the pace of investor additions in FY24, according to experts, is largely a result of a reversal in equity market fortunes. The benchmark indices — Nifty 50 and Sensex — surged over 25 per cent in FY24, after delivering near-zero returns in FY23. The other factor is new fund launches in popular categories, as the promotion and marketing activities go up. Click here to follow our WhatsApp channelVenkat Chalasani, chief executive of Association of Mutual Funds in India (Amfi), said the investor confidence in MFs continued as the financial year drew to a close. “This is reflected in the systematic investment plan accounts that hit a record 83.9 million. The industry assets under management rose 35 per cent in FY24, the second-highest growth in a financial year.” *ADB ups India GDP forecast to 7% for FY25 on investments, consumer demand* The Asian Development Bank (ADB) on Thursday upgraded India’s gross domestic product (GDP) growth forecast for 2024-25 (FY25) to 7 per cent from 6.7 per cent earlier, citing better prospects of robust public and private investment and strong services sector growth. However, it said unanticipated global shocks, such as supply line disruptions to crude oil markets and weather shocks that impact agriculture output, are key risks to India’s economic outlook. The forecast is part of the latest edition of ADB’s flagship economic publication, Asian Development Outlook (ADO) April 2024, released on Thursday. “The triggers for FY25 growth will come from higher capital expenditure on infrastructure development both by central and state governments, rise in private corporate investment, strong service sector performance, and improved consumer confidence. Growth momentum will pick up in FY26 backed by improved goods exports and an increase in manufacturing productivity and agricultural output,” the ADB said. *Global market action* Dow Jones – Down by 0.10% or 40.07 points FTSE – Down by 0.47% or 37.41 points CAC – Down by 0.27% or 21.64 points DAX – Down by 0.79% or 142.82 points Gift Nifty – Up by 0.45% or 102.50 points *FII/DII activities* FII – Bought 2778.17 Cr worth of shares DII – Bought 163.36 Cr worth of shares. *Stocks with high delivery Percentage* Sapphire Foods India Ltd – 94.1% Aptus Value Housing Finance India Ltd – 92.1% Emami Ltd – 88.1% Ajanta Pharma Ltd – 87% Shoppers Stop Ltd – 86.3% *Primary market activities* IPO opening today Greenhitech Ventures Ltd (BSE SME) – Issue size 6.30Cr Listing today Bharti Hexacom Ltd (Main board) – Subscribed 29.88x *Commodities updates* Gold – Rs 73525/10gm, Silver – Rs 82880/kg, Brcrude – Rs 7096/barrel, Copper – Rs 816.50/kg. *Corporate News* RBL Bank appoints Murali Ramakrishnan as independent director for 4 years. Tata Motors and Shell partner to expand EV charging network in India. TVS SCS announces supplying 500,000 two-wheeler CKD kits to TVS Motor.

: *News Headlines from Business News Agencies:* *Business Standard* 📝 Pegatron in talks with Tata to sell its only India iPhone plant: Report 📝 2024 wheat output seen at 105 mn metric tonnes, 6.25% below govt estimates 📝 India's fuel demand up by 5% y-o-y in FY24, a new financial year record 📝 Air India, BIAL sign MoU to develop Bengaluru as premier aviation hub 📝 Interest rates may put pressure on entry level vehicle buying in FY25: FADA 📝 Indian coffee exports surge 13.35% to 125,000 tonnes in Jan-Mar, shows data 📝 50% of public service organisations ready to implement GenAI: EY survey 📝 Vishal Mega Mart said to pick Kotak, ICICI Bank for mega IPO: Report 📝 Bajaj Finance hikes fixed deposit rates for most tenures by up to 60 bps 📝 Sub-metre optical satellite assembled in India deployed into space: TASL 📝 Birla Pivot targets revenue of $1 bn in next three years, leverage tech *Economic Times* 📝 JLR full-year sales rise by over 20 per cent year on year 📝 Vehicle registrations rise by a modest 3% in March 2024 📝 Bharti Airtel adds more active users than Reliance Jio in February: TRAI 📝 EU regulators assess Apple's plan for complying with music streaming order 📝 Tradeweb to buy investment tech firm ICD for $785 million 📝 Lupin gets USFDA nod to market generic medication 📝 Small towns make it big for Ather’s electric two-wheeler sales 📝 Google's contemplated mega deal would prompt new fight with regulators 📝 Gland Pharma gets USFDA nod for generic breast cancer drug 📝 China's Didi, GAC Aion to mass produce robotaxis next year 📝 REC sanctions record Rs 3.59 lakh crore loan in FY24 📝 Alibaba Cloud announces price cut on products powered by offshore data centers *Mint* 📝 Indian Railways to run Summer Special Vande Bharat Express trains in April 📝 Prestige Group sets record with FY24 sales topping ₹21,040 crore 📝 Biocon leads India’s push into weight-loss drugs as patents set to expire 📝 TSMC to make world's most advance semiconductors in US 📝 China holiday activity tops prepandemic levels, adds to recovery signs 📝 Piramal Alternatives invests ₹110 cr in Biodeal Pharmaceuticals 📝 Go First gets lifeline as NCLT extends moratorium, again 📝 Aakash (AESL) appoints Deepak Mehrotra as MD and CEO 📝 L&T’s defence arm to diversify into civil projects to optimise asset utilisation 📝 NTPC to add 5 GW power generation capacity in FY25 📝 Hyundai, Kia partner with Exide Energy for EV battery localisation 📝 The Disney-Reliance partnership is likely to lead to consolidation in India's streaming sector.

Morning Alert.. *India likely to get normal monsoon this year: Private forecaster Skymet* India is likely to experience a normal southwest monsoon in 2024, according to Skymet, a private weather-forecasting agency. This prediction offers a glimmer of hope in the ongoing battle against inflation. Monsoon rainfall between June and September is expected to be 102 per cent of the long-period average (LPA) of approximately 87 centimetres, with a model error of +/- 5 per cent, the weather forecaster said. Nationwide, cumulative monsoon rainfall between 96 and 104 per cent of the LPA is deemed “normal”. Skymet’s forecast anticipates sufficient rainfall in south, west, and northwest India. The core monsoon rainfed zones of Maharashtra and Madhya Pradesh are also expected to receive ample rainfall. The eastern states of Bihar, Jharkhand, Odisha, and West Bengal may experience a rainfall deficit during the peak monsoon months of July and August. Northeast India is likely to see less than normal rainfall during the first half of the season. The state-run India Meteorological Department (IMD) is slated to release its initial forecast for the 2024 southwest monsoon in the coming weeks. A good and normal monsoon should significantly contribute to curbing inflation and restoring growth in the agricultural sector, which is projected to have dipped to multi-year lows in 2023-24 due to a weak monsoon. *Global market action* Dow Jones – Up by 0.13% or 51.07 points FTSE – Down by 0.11% or 8.68 points CAC – Down by 0.86% or 70.13 points DAX – Down by 1.32% or 242.28 points Gift Nifty – Up by 0.27% or 62.00 points *FII/DII activities* FII – Sold 593.20 Cr worth of shares DII – Bought 2257.18 Cr worth of shares. *Stocks with high delivery Percentage* Five-Star Business Finance Ltd – 95% Route Mobile Ltd – 93.7% 3M India Ltd – 89.7% BlueDart Express Ltd – 88.6% JB Chemicals & Pharmaceuticals Ltd – 88.1% *Commodities updates* Gold – Rs 73900/10gm, Silver – Rs 82425/kg, Brcrude – Rs 7098/barrel, Copper – Rs 818.25/kg. *Corporate News* Maruti Suzuki adds new line, to boost manufacturing capacity by 4.5%. Paytm PB MD & CEO Surinder Chawla resigns due to personal reasons. Godrej Properties business update: Q4 bookings up 135% YoY at ₹9,500 crore. FY24 bookings up 84% YoY at *22,500 crore, 61% above guidance. ITC Hotels likely has set an ambitious goal of expanding its portfolio to 200 hotels, from the current 130, over the next five years.

Morning Alert.. *Fuel consumption increased 4.6% to record high in FY24; fell 0.6% in March* Fuel consumption in India, a proxy for oil demand, increased 4.6 per cent, to hit a record high of 233.32 million tonne (mt) in FY24.This was lower than the 10.57 per cent rise seen in FY23. The demand fell by 0.6 per cent on an annual basis in March as a result of lesser petroleum coke use, data released by the Petroleum Planning and Analysis Cell (PPAC) has shown. Consumption of fuel was 21.09 mt in March, down from 21.22 mt in March 2023. The monthly numbers were pulled down by the lower consumption of petcoke, a by-product created by the refining of bitumen into crude oil. Used in the manufacturing of steel, glass, paint, and fertilizers, petcoke usage fell 16.8 per cent in March to 1.63 mt. Oil demand usually picks up late February, and rises in tandem with the temperature. Case in point, consumption rose by 13.7 per cent in March, on a sequential basis. Sales of diesel, the most used fuel in the country, rose 3 per cent to 8.03 mt in March. In the past 12 months, sales had reached an all-time high of 8.21 mt in May, 2023. Petrol sales also reached a four-month high, rising 5.1 per cent to 3.14 mt in October. Sales stood at 2.99 mt in the same month of the previous year. *Bond yield touches 2-month high; tracking a rise in US Treasury yields* The yield on the benchmark 10-year government bond rose to a two-month high on Monday, tracking a rise in US Treasury yields. The benchmark yield settled at 7.15 per cent, the highest since January 30, against 7.12 per cent on Friday. In April, the yield on the 10-year benchmark government bond has hardened by 10 basis points (bps). “Yields rose because of the rise in US yields. Rates have been rising globally, so India can't be an outlier. It (benchmark yield) should find some footing around these levels, not rise too much, but it is difficult to say as we have the Consumer Price Index (CPI) data lined up,” said Naveen Singh, vice president of ICICI Securities Primary Dealership. The newly auctioned 10-year government bond, introduced for the first time on Friday, swiftly emerged as the second most traded bond, after the benchmark bond. Market participants said that it might ascend to benchmark status after its second issuance. The government auctioned Rs 20,000 crore worth of the bond, and the coupon was set at 7.10 per cent. The current benchmark bond took more than two months to become the most traded bond and dethrone its predecessor. The outstanding amount on the existing 10-year paper has reached Rs 2 trillion. *Global market action* Dow Jones – Down by 0.02% or 9.60 points FTSE – Up by 0.41% or 32.31 points CAC – Up by 0.72% or 57.99 points DAX – Up by 0.79% or 143.93 points Gift Nifty – Up by 0.26% or 58.50 points *FII/DII activities* FII – Sold 684.68 Cr worth of shares DII – Bought 3470.54 Cr worth of shares. *Stocks with high delivery Percentage* Westlife Foodworld Ltd – 92.8% Eris Lifesciences Ltd – 86.1% Pfizer Ltd – 85% Krishna Institute of Medical Sciences Ltd – 84.8% GR Infraprojects Ltd – 83.5% *Primary market updates* Listing today Aluwind Achitectural Ltd (NSE SME) – Subscribed 8.19x Creative Graphics Solutions India Ltd (NSE SME) – Subscribed 201.86x *Commodities updates* Gold – Rs 73275/10gm, Silver – Rs 81875/kg, Brcrude – Rs 7171/barrel, Copper – Rs 815.6/kg. *Corporate News* Private equity firm Bain Capital to sell remaining Axis Bank holding. At Rs 3.55 trillion, REC clocks highest ever loan sanctions in FY24. Dixon enters into Share Purchase Agreement and Shareholders' Agreement for proposed acquisition of majority stake in Ismartu India Pvt Ltd. Poonawalla Fincorp: Finance Committee of the Company has approved allotment of 7,500 secured, redeemable, rated, listed, NCDs of the face value of Rs 1 Lakh each, aggregating to Rs 75 crores, through private placement.

*News Headlines from Business News Agencies:* *Business Standard*   📝 Signature Global Q4 sales bookings jump 3.4 times to Rs 4,140 crore 📝 Data centre operator Yotta looks to expand its GPU capacity March 2025 📝 Tata Steel crude steel production broadly stable and stood at around 5.38 million tons 📝 Adani to invest Rs 2.3 trillion in renewable energy, manufacturing capacity 📝 We are optimistic about India story, says ITC's Director Hemant Malik 📝 Air pollution-related terminologies awareness low among urban poor: Study 📝 RoC puts Rs 10 cr fine on 2 cos, 9 individuals for violating companies law 📝 Coworking firms take on lease 3.1 mn sq ft office space in Jan-Mar: CBRE 📝 Tata Steel to stop operations of coke ovens at Port Talbot plant 📝 Sebi proposes direct reporting of AIFs' PPM changes to cut compliance cost 📝 Cilio expects to double global business in 18 months with India foray 📝 India emerges as a curious mkt in global restructuring of industrial majors *Economic Times* 📝 Vinod Francis appointed as Chief Financial Officer of South Indian Bank 📝 Fundraise by InvITs, REITs surges multi-fold to Rs 17,116 cr in FY24 on promising returns 📝 Vistara to discuss rostering system with pilots; incorporate feedback to possible extent: CEO 📝 India's coal import rises 13 percent in February 📝 Social commerce set to scale, but concern of authenticity looms large: Industry 📝 Indigenous robotic solutions get an edge as enterprises look for customised AI-based automation 📝 India needs 1 million fast chargers to become 100 pc electric in 2 and 3 wheelers by 2030: Former NITI Aayog CEO Amitabh Kant 📝 India's food processing sector poised to reach $535 billion by 2025-26 📝 Incorporate weather, climate inputs while planning 'one nation, one poll', says IMD chief 📝 Sanofi looks for accelerated growth in India; plans fast-tracking of product pipeline 📝 Maruti Suzuki eyes 3 lakh exports in FY25, 8 lakh by 2030 *Mint* 📝 Cochin Shipyard signs Master Shipyard Repair Agreement with U.S. Navy 📝 Vodafone Idea allots shares worth ₹2,075 cr to group entity 📝 GM Breweries Q4 FY24 Results: profit rise by 146.87% YOY 📝 India, Oman conclude trade talks; to sign deal after elections 📝 Drug regulator seeks vaccine manufacturing and sales data from states 📝 Info Edge Q4 update: Company reports ₹826.9 crore as standalone billing 📝 IRDAI raises concern over Hinduja Group-led IIHL bid for Reliance Capital 📝 Wipro MD Thierry Delaporte resigns, Srinivas Pallia to succeed as CEO 📝 India to consider extending OCI relaxation to Fiji 📝 India is reportedly planning to replace the minimum wage system with living wages by 2025 📝 Alibaba is making waves with its announcement of exploring one-hour deliveries worldwide 📝 Indiabulls Real Estate board has approved raising ₹3,911 crore through a preferential allotment

Morning Alert.. *India emerges as a curious mkt in global restructuring of industrial majors* In the past few years, global industrial majors have busied themselves with the revamp of their business structures. Amidst these amalgamations and demergers, many of these are also navigating Indian regulatory requirements and shareholder concerns along the way. Linde Plc, Siemens, and GE are three such entities that have made changes to their global business structures in the past few years. Globally, Linde and Praxair are a merged entity named Linde Plc. In India, however, their listed entities operate separately. In a latest development, related party transactions between the two Indian entities have landed Linde in trouble with the market regulator. An email query sent to Linde India on Thursday remained unanswered. Proxy advisory firm Institutional Investor Advisory Services (IiAS) in a report on March 28, noted, “Linde India’s parent filed a writ petition in January, in connection with SEBI seeking financial information and details regarding certain business transactions of the company. SEBI has also issued summons to the parent's management and directors.” The note said Linde Plc has filed a writ petition seeking to quash the proceedings and a stay in the interim. *Global market action* Dow Jones – Up by 0.06% or 22.91 points FTSE – Down by 0.81% or 64.73 points CAC – Down by 1.11% or 90.24 points DAX – Down by 1.24% or 228.09 points Gift Nifty – Up by 0.15% or 34 points *FII/DII activities* FII – Bought 1659.27 Cr worth of shares DII – Sold 3370.42 Cr worth of shares. *Stocks with high delivery Percentage* Vijaya Diagnostic Centre – 92.3% Grindwell Norton – 89.8% Poly Medicure – 89.4% Route Mobile – 85.7% Sonata Software – 82.6% *Primary market activities* IPOs opening today DCG Cables & Wires Ltd (NSE SME) – Issue size 49.99Cr Teerth Gopicon Ltd (NSE SME) – Issue size 44.40Cr Listing today Jay Kailash Namkeen Ltd (BSE SME) – Subscribed 40.02x K2 Infragen Ltd (NSE SME) – Subscribed 51.47x Yash Optics & Lens Ltd (NSE SME) – Subscribed 42.17x *Commodities updates* Gold – Rs 72840/10gm, Silver – Rs 80850/kg, Brcrude – Rs 7286/barrel, Copper – Rs 801.25/kg. *Corporate News* Adani to invest Rs 2.3 trillion in renewable energy, manufacturing capacity. Mahindra EPC bags an order of Rs 13.2 crore for supply of Micro Irrigation Systems from the Office of the Asst. Engineer. Voltas has achieved the landmark of highest ever AC sales in FY24. The company achieved over 2 million AC units during this fiscal 2023-24, the highest ever sale of ACs by any brand in a financial year in India, with a volume growth of 35%.

GSTL TECHNICAL CHART STUDY Ready to give Big Breakout above 52 Support Line - 42 - 39 Resistance Test Levels - 70 - 84

https://www.thehansindia.com/business/globesecure-technologies-limited-receives-work-order-worth-rs-80-crore-843840

Ready to Hit Upper Circuit 🚀🚀

🚀🚀 GSTL 🚀🚀 GLOBE SECURE TECHNOLOGY LTD. This Small Size SME IT company looking attractive at these lower levels. Now available at 50.40 Short term test levels - 80 Long term test levels - 200 Stop Loss - 42.00

*RBI Credit Policy: Benchmark Interest Rate* *Current:* 6.5% *Expected:* 6.5% *Previous:* 6.5% (RBI maintains status quo for benchmark interest rate. Outlook on macros and policy guidance would be key factors for further market momentum)

https://twitter.com/RBI/status/1776104260645892285?s=19

*News Headlines from Business News Agencies:* *Business Standard* 📝 Anil Agarwal-led Vedanta Group to raise $300 mn through debt securities 📝 Google to make generative AI-powered search exclusive to paid-tier: Report 📝 India has given over $1 bn to private firms under PLI scheme: Official 📝 Dabur flags sluggish demand in Q4, indicates slowing revenue; shares drop 📝 Honda Cars India names Ryuto Shimzu as new director of marketing-sales 📝 Hiranandani plans to invest Rs 3K cr, expects 25% residential biz growth 📝 GenAI platform Hanooman announces partnership with Abu Dhabi's 3AI Holding 📝 Akasa Air regains top spot in on-time performance chart in March 📝 US layoffs surge 7% to reach 14-month high amid govt, tech cutbacks 📝 Prices of essential medicines will not be increased in FY25: Health minister Mandaviya 📝 Trai begins consultation on pricing, terms for new spectrum bands 📝 RBI, NPCI push for UPI adoption at WTO, urge for cutting remittance costs *Economic Times* 📝 RBI defers implementing FX derivatives rules to May 3 📝 Amid rising likelihood of a scorcher of a summer, govt powers up to help India fight extreme temperature 📝 World Bank President Banga invites Rakesh Mohan to join economic advisory panel 📝 Private sector's share in defence production reaches highest in eight years 📝 Chip startup SiMa raises $70 million to quicken AI on cars and robots 📝 Relief for Nestle as NCDRC dismisses govt's 2015 plea against sale of Maggi noodles 📝 IHCL to open SeleQtions resort in partnership with Merlin Group 📝 In FY24, New India Assurance achieved about $5 billion global premium: CMD 📝 Allianz Partners becomes first foreign reinsurer to launch operations in GIFT City 📝 Vedanta commences mining in Goa's Bicholim block 📝 52% GCCs in India proactively championing ESG agenda: EY *Mint* 📝 India's services growth picks up in March on robust demand 📝 SingleInterface raises $30 mn from PayPal, Asia Partners 📝 Industry body withdraws case after IOCL cancels green-hydrogen tender 📝 Airbus’s stratospheric drone business is open to IPO, CEO says 📝 Hero MotoCorp gets demand notice of ₹605 crore from Income Tax Department 📝 Sterlite Power unit’s CEO Manish Agarwal quits 📝 Steel companies’ EBITDA to get hit by lower prices, high coking coal cost in Q4 📝 Vodafone Idea board to consider ₹20,000 cr fundraise in 6 April meet 📝 Vistara airline to reduce daily operations due to pilot shortage 📝 High demand for ₹1 crore homes; Over 10,000 units sold in Delhi-NCR in Q1 2024 📝 UltraTech Cement commissions 100 MW AC solar energy project in Rajasthan 📝 Oil Advances After OPEC Affirms Production Cuts Through June

Morning Alert.. *India has given over $1 bn to private firms under PLI scheme: Official* India has paid $1.02 billion as incentives to boost local manufacturing, following over $13 billion in investments from private firms under a scheme introduced in 2020, a top government official said on Wednesday. The 1.97-trillion-rupee ($24 billion) production-linked incentive scheme (PLI) is India's key industrial policy and covers 14 sectors ranging from electronic products to drones. Critical to Prime Minister Narendra Modi's plans to promote India as a global manufacturing hub, the scheme has drawn participation from large global and Indian firms including Apple , Foxconn, Samsung Electronics, Hindustan Unilever Ltd and Reliance Industries. It has also helped push mobile phone exports to a record $15 billion in the fiscal year that ended March 31, according to industry estimates. "The scheme has had a good impact and incentive disbursements have also picked up," Rajesh Kumar Singh, top bureaucrat at India's Department for Promotion of Industry and Internal Trade, told Reuters. *Mutual fund assets increase 34% during FY24, the highest in 7 years* The assets managed by domestic mutual funds (MFs) rose by 34 per cent during 2023-24 (FY24) — the most since 2016-17 — propelled by a sharp rally in the equity market and robust inflows. For the three months ended March 2024 (Q4FY24), the average assets under management (AUM) stood at Rs 54.1 trillion compared to Rs 40.5 trillion in Q4 of 2022-23 (FY23), according to data from the Association of Mutual Funds in India. The just-concluded FY24 marked the 12th consecutive year of AUM growth for the industry, which primarily caters to retail investors. The industry last recorded a decline in year-on-year AUM in 2011-12. Although the MF industry has made huge strides, its AUM still represents only around a quarter of the total deposits with banks. The largest fund house, SBI MF, maintained its lead with an average AUM of Rs 9.1 trillion in Q4, 27 per cent higher than the same quarter of FY23. Among the top 10, fourth-placed Nippon India recorded the fastest growth. Its average AUM surged by 47 per cent to Rs 4.3 trillion. In the top 15, Tata MF led with nearly a 50 per cent average AUM gain. *Global market action* Dow Jones – Up by 0.03% or 11.44 points FTSE – Up by 0.48% or 38.45 points CAC – Down by 0.02% or 1.68 points DAX – Up by 0.19% or 35.41 points Gift Nifty – Down by 0.54% or 122 points *FII/DII activities* FII – Sold 1136.47 Cr worth of shares DII – Sold 893.11 Cr worth of shares. *Stocks with high delivery Percentage* Astrazeneca Pharma India – 90.8% Pfizer – 90.7% Route Mobile – 88.1% Timken India – 82.5% Westlife Foodworld – 82.4% *Primary market activities* Listing today Radiowalla Network Ltd (NSE SME) – Subscribed 307.54x TAC Infosec Ltd (NSE SME) – Subscribed 422.03x *Commodities updates* Gold – Rs 71830/10 gm, Silver – Rs 80095/kg, Brcrude – Rs 7147/barrel, Copper – Rs 802.70/kg. *Corporate News* HDFC Bank's gross advances surge 55.4% to Rs 25.08 trn in Q4 FY24. Vedanta commences mining operations in Goa's Bicholim mineral block. Zydus Lifesciences, Hero Motocorp, NHPC, Bosch in line for largecap upgrade.

Morning Alert.. *How monetary transmission may hold key to policy stance, Das clarifies* After the February 2024 monetary policy review meeting, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified why the stance of the policy continued to be 'withdrawal of accommodation'. “Our policy stance is in terms of interest rate, which is the principal tool of monetary policy in the current framework,” Das said. He explained that the stance of 'withdrawal of accommodation' should be seen in the context of incomplete transmission of interest rates, and inflation staying above the target of 4 per cent. The monetary policy committee of the RBI had hiked the policy repo rate by 250 basis points (bps) between May 2022 and February 2023 before hitting a pause. Commercial banks borrow money from the RBI at the repo rate, which also acts as the benchmark rate for banks lending to retail and small borrowers. The data shows that in response to 250-bp repo rate hike, bank have revised their repo-linked external benchmark-based lending rates (EBLRs) upward by the same magnitude. However, transmission is incomplete for marginal cost of fund-based lending rate (MCLR), as well as weighted average lending rate (WALR) on both fresh and outstanding loans. *NHAI executed capex for FY24 increases by 20% to Rs 2.07 trillion* The National Highways Authority of India (NHAI) executed capital expenditure of Rs 2.07 trillion in the financial year 2023-24 (FY24), which is 20 per cent higher than its expenditure in both FY22 and FY23, a senior government official said. “During FY24, NHAI achieved construction of 6,644 km of national highways against the target of 6,544 km. At 6,644 km, construction increased in FY24 by around 20 per cent compared to 5,544 km constructed in FY23 and by around 53 per cent compared to 4,331 km constructed in FY22,” the official said. NHAI, operating under the Ministry of Road Transport and Highways, is tasked with executing road projects. The ministry itself is expected to have built around 12,000 km of highways in the fiscal year. To alleviate debt burdens on capital-intensive bodies like NHAI and railways, the government has allocated increased capital expenditure, to offset the reliance on debt for funding rail and road projects. The Ministry of Road Transport and Highways has been allocated Rs 2.78 trillion in FY25, according to the interim budget presented by Finance Minister Nirmala Sitharaman in February. *Global market action* Dow Jones – Up by 0.13% or 52.17 points FTSE – Up by 0.03% or 2.35 points CAC – Up by 0.29% or 23.18 points DAX – Up by 0.46% or 84.59 points Gift Nifty – Up by 0.34% or 75.50 points *FII/DII activities* FII – Sold 1622.69 Cr worth of shares DII – Bought 1952.72 Cr worth of shares. *Stocks with high delivery Percentage* Global Health Ltd – 95.1% Westside Foodworld Ltd – 93.7% Metro Brands Ltd – 89.7% Shree Cement Ltd – 88.7% Timken India Ltd – 88.5% *Primary market activities* Listing today Trust Fintech Ltd (NSE SME) – Subscribed 108.63x *Commodities updates* Gold – Rs 71325/10gm, Silver – Rs 79197/kg, Brcrude – Rs 7157/barrel, Copper – Rs 791.45/kg. *Corporate News* Vi shareholders approve Rs 20,000 cr fundraise through securities issuance. HCLTech to enable 25,000 engineers on Gemini to scale GenAI solutions. Britannia NutriChoice launches health monitoring app NutriPlus in India.

https://www.moneycontrol.com/news/business/markets/nse-to-launch-four-new-indices-in-capital-markets-fo-segments-from-april-8-12569981.html

https://www.moneycontrol.com/news/world/a-strong-earthquake-rocks-entire-island-of-taiwan-collapsing-buildings-tsunami-alert-issued-12564471.html

Morning Alert.. *Manufacturing PMI in March rises to 16-yr high, employment improves* India’s manufacturing sector ended 2023-24 on a “stellar” note, with the headline Purchasing Managers Index (PMI) soaring to a 16-year high of 59.1 in March, up from 56.9 in February, according to a survey released by HSBC on Tuesday. A PMI above 50 represents expansion in the manufacturing sector, while a reading under 50 represents contraction. The survey reveals that the manufacturing sector gained momentum in March, with the strongest increases in output and new orders since October 2020. This was accompanied by the second-sharpest upturn in input inventories in the survey’s history in connection with India. In a positive sign for the jobs market, employment picked up. “Employment returned to positive territory and firms scaled up buying levels. There was a mild pick-up in cost pressures during March, but customer retention remained a priority for goods producers who raised their charges to the lowest extent in over a year,” the survey stated. At 59.1, the March manufacturing PMI is slightly lower than the flash estimate for the month at 59.2, released on March 21. The March figure marks the manufacturing output rising for 33 months in a row and to the sharpest since October 2020. *Customers shy away from market as gold price nears Rs 70,000 milestone* Even as the price of pure gold nears Rs 70,000 per 10 gram, customers have already disappeared from the market. In just a single month, the price in Mumbai’s Zaveri Bazaar has risen by nearly 10 per cent, trading at around Rs 68,500 per 10 gram. The Mumbai spot market has slipped into a heavy discount of $15–20 per ounce, or Rs 400–550 per 10 gram, since prices have risen sharply in a month. Even gold imports, which were around 100 tonnes in February, fell sharply in March. The industry estimates that only 25 tonnes were imported. Jewellers are eyeing marriage demand and Akshaya Tritiya falling in the first week of May. They are said to be preparing to meet demand in case gold price falls, but jewellery fabrication has been affected. The movement of gold is also affected following higher vigilance during the election code of conduct. Bhargava Vaidya, a bullion industry consultant, said that “marriage demand in India has been constant or maybe slightly up in value terms. But with rising prices, in terms of quantity, demand has fallen. At the current price level, the demand trend will continue”. The gold price was Rs 28,430 per 10 gram a decade ago, up 141 per cent, giving a 9.2 per cent compound annual return. This high return is gradually transforming market demand. *Global market action* Dow Jones – Down by 0.09% or 37.19 points FTSE – Down by 0.22% or 17.53 points CAC – Down by 0.92% or 75.76 points DAX – Down by 1.13% or 209.36 points Gift Nifty – Down by 0.67% or 151.50 points *FII/DII activities* FII – Sold 1622.69 Cr worth of shares DII – Bought 1952.72 Cr worth of shares. *Stocks with high delivery Percentage* Timken India Ltd – 88.8% Kaynes Technologies India Ltd – 88.3% CE Info Systems Ltd – 87.9% P&G Health Ltd – 86.1% Century Plyboards (India) Ltd – 85.9% *Primary market activities* IPO opening today Bharti Hexacom Ltd (Main board) – Issue size 4275Cr Listing today Aspire & Innovative Advertising Ltd (NSE SME) – Subscribed 15.17x *Commodities updates* Gold – Rs 71020/10gm, Silver – Rs 77100/kg, Brcrude – Rs 7077/barrel, Copper – Rs 769.7/kg. *Corporate News* UltraTech Cement to invest Rs 32,400 crore in the next three years. Voda Idea holds EGM to seek shareholders' approval to raise Rs 20,000 crore. From United Spirits to Zomato, multiple companies get tax demand notices.

Morning Alert *Domestic consumption demand, Govt capex lent support to India Inc's credit profile: ICRA* Rating agency ICRA on Monday said domestic consumption demand, government's infrastructure spending and healthy balance sheets lent support to India Inc's credit profile in the 2023-24 fiscal, even though rise in borrowing cost, sluggish exports and certain global events posed challenges. In the just-concluded fiscal year, ICRA upgraded two entities for every entity downgraded, in continuation of the upgrade momentum that had been set in motion in FY22. Aviation, hospitality, auto and auto components, and banks were the few sectors in 2023-24 where the rating upgrades were induced mostly by industry tailwinds. The domestic rating agency said India Inc bore direct and the indirect effects of multiple challenges in FY24, including inflation, rise in borrowing costs, sub-par monsoon, supply-effects of the continued war between Russia and Ukraine, start of another conflict between Israel and Palestine, the Red Sea crisis, and sluggish exports. Yet, these did not feel heavier as domestic consumption demand across several sectors, government spending on public infrastructure, and healthy balance sheets lent support to the credit profiles of entities, ICRA said. *Credit quality outlook of India Inc positive in first half of FY25: Crisil Ratings* Crisil Ratings on Monday said the credit quality outlook for Indian corporates remains positive for the April-September period of the 2024-25 fiscal year with upgrades continuing to outpace downgrades. In the last fiscal year, Crisil gave 409 rating upgrades and 228 downgrades. Some export-linked sectors, such as textile and seafood, saw a higher downgrade rate due to subdued global demand or high-cost inventory that impacted profitability. "India Inc's credit quality outlook is positive for the first half of fiscal 2025 with upgrades expected to outnumber downgrades. Multiplier effect of government capex will continue to drive infrastructure and linked sectors. Healthy balance sheets will continue to support the credit quality outlook, with capex funding seen prudent," Crisil Rating said. It said the outstanding bank credit is expected to cross Rs 200 lakh crore by March 2025, from Rs 172 lakh crore a year ago, even though there would be moderation in the rate of credit growth. The Indian economy with a GDP growth of 6.8 per cent is expected to remain the fastest-growing large economy in the current fiscal. The growth will, however, moderate from 7.6 per cent expected in 2023-24 as high interest rates and lower fiscal impulse to growth will temper demand, according to Crisil. *Global market action* Dow Jones – Down by 0.60% or 240.52 points Gift Nifty – Down by 0.24% or 56.00 points *FII/DII activities* FII – Sold 522.30 Cr worth of shares DII – Bought 1,208.42 Cr worth of shares. *Stocks with high delivery percentage* Sun Pharma – 86.10 % Tata Consumer Products– 83.97 % Pidilite Industries– 75.65 % Chola Investment– 74.08 % PI Industries – 73.99% *Primary market activities* Listing today Naman In-Store (India) (NSE SME) – Subscribed 309.03 times *Commodities updates* Gold – Rs 68,262/10gm, Silver – Rs 75,487/kg, Brcrude – Rs 7,027/barrel, Copper – Rs 766/kg. *Corporate News* Aditya Birla Fashion and Retail eyeing to demerge its Madura Fashion & Lifestyle business into separate listed entity Elpro International has acquired 28,790 equity shares of Multi Commodity Exchange for Rs 10 crore Hero Motocorp sells 56 lakh units of motorcycles and scooters in FY’24 Sancode Technologies acquires additional 1% shareholding in existing Joint Venture Company “Sanfin Technologies” Veerhealth Care gets order worth Rs 57.36 lakh from Apollo Healthco

Nifty hits fresh record high on first day of FY25; Q4 earnings, US PCE data to guide markets https://www.moneycontrol.com/news/business/markets/nifty-sensex-start-first-day-of-fy25-in-the-green-q4-earnings-us-pce-data-to-guide-markets-12552021.html

Morning Alert. *India to be fastest growing economy among G-20 nations in 2024, all big rating agencies revised country's growth upwards* India will be the fastest growing economy among the G-20 nations in 2024. In the previous three quarters, India's economy expanded at 7.8 per cent in Q1, 7.6 per cent in Q2 and 8.4 per cent in Q3. On Saturday, finance minister Nirmala Sitharaman said in an event at Mumbai that India will grow over 8 per cent in the January-March quarter of 2024. The country has become the 5th largest economy of the world and the Modi government has pledged to make it the 3rd largest by 2027. The 8.4 per cent growth in Q3 has surpassed expectations, post that various institutions have upgraded their GDP growth forecast for India. The most recent upgrade came from Goldman Sachs, which has raised India's 2024 growth projections to 6.6 per cent, a 10 basis point improvement from its previous forecast. Earlier this month S&P, Morgan Stanley and Moody's too have revised India's growth projections upwards. S&P revises India's growth projections from 6.4 per cent to 6.8 per cent, Morgan Stanley from 6.1 per cent to 6.8 per cent and Moody's from 6.6 per cent to 8 per cent for the current fiscal. The growth projections were revised upward by rating agencies, reflecting both global and domestic optimism in the country's economy on the back of robust manufacturing activity and infrastructure spending. *India's GDP set to grow 8% or more in Jan-March quarter, finance minister says* India’s gross domestic product (GDP) is on track to grow by 8% or more in the quarter ending March 31, Finance Minister Nirmala Sitharaman said on Saturday. The economy is expected to show the same rate of year-on-year expansion for the 2023/24 financial year, Sitharaman added, citing the impact of improved inflation management and macroeconomic stability. "Hopefully the fourth quarter … will also have (growth) of 8% or above 8% resulting in 2023/24 having an average growth in GDP of 8% or over 8%," Sitharaman said during an event in the financial hub of Mumbai. India’s GDP data for the Jan-March quarter is due to be released on May 31. Asia’s third-largest economy grew 8.4% in the October-December quarter year-on-year, outpacing the 7.6% growth recorded for the previous quarter. India’s economy is projected to grow at 7.6% in the current fiscal year to March 31, according to the latest government estimates. *Global market action* Dow Jones – Up by 0.34% or 135.39 points FTSE – Up by 0.26% or 20.64 points CAC – Up by 0.01% or 1.00 points DAX – Up by 0.08% or 15.40 points Gift Nifty – Up by 0.23% or 51.50 points *FII/DII activities* FII – Bought 188.31 Cr worth of shares DII – Bought 2,691.52 Cr worth of shares. *Stocks with high delivery percentage* Grasim – 96.58% Interglobe Aviation – 89.53% IDFC First Bank- 81.31% Tata Consumer Products – 78.79% Britannia– 68.22% *Commodities updates* Gold – Rs 67,800.00/10gm, Silver – Rs 75,044/kg, Brcrude – Rs 6,915/barrel, Copper – Rs 760.75/kg. *Corporate News* Infosys to get windfall tax refund of Rs 6,329 crore PG Electroplast’s arm gets approval for disbursement of PLI incentives for AC Components Kalpataru Projects International’s arm gets nod to acquire additional stake in Fasttel Standard Capital Markets gets nod to acquire entire stake in KRV Brooms Adani Total Gas commences production at Barsana Biogas Project

https://www.moneycontrol.com/news/business/markets/mc-exclusive-daniel-kahneman-on-why-optimism-is-as-bad-a-pessimism-when-to-call-it-quits-and-other-insights-into-decision-making-12536641.html

Morning Alert. *Growth in range of 7% perfectly good for India unless external environment improves, says Sanyal* India should be satisfied with the current growth rate unless the external environment improves, Member of Economic Advisory Council to the PM, Sanjeev Sanyal, said on Wednesday, terming economic expansion in the range of 7 per cent perfectly good. Sanyal further said it was necessary to protect the hard-earned macroeconomic stability. "Now look, it is possible for us to hit double-digit growth, but I would actually be rather careful about it. This whole game is about compounding growth," Sanyal said while speaking at the Times Now Summit. India's economy grew at better-than-expected 8.4 per cent in the final three months of 2023, logging the fastest pace in the past one-and-a-half years. The growth rate in October-December helped take the estimate for the current fiscal to 7.6 per cent. "We should not attempt to grow this economy by anything more than what it is growing now. "If the external environment does not dramatically improve, because what will happen then, is that our external accounts will begin to overheat, our inflation will begin to overheat and so on," Sanyal said. *India's March gold imports set to drop 90% as prices surge* India's gold imports are set to plunge by more than 90% in March from the previous month to hit their lowest level since the COVID pandemic as banks cut imports after record-high prices hit demand, a government official and two bank dealers told Reuters. Lower imports by India, the world's second biggest consumer of the precious metal, could limit a rally in global prices that hit a record high earlier this month on expectations that the Federal Reserve will cut interest rates this year. The drop in imports could also help India narrow its trade deficit and support the rupee. India's gold imports are likely to fall to 10 to 11 metric tons in March from 110 metric tons in February, said a government official, who declined to be named as he was not authorised to talk to the media. Gold imports in March 2024 are expected to be the lowest since the COVID pandemic, when air traffic restrictions limited imports and lockdowns led to the closure of jewellery shops. *Global market action* Dow Jones – Down by 0.01% or 5.76 points FTSE – Up by 0.01% or 1.02 points CAC – Up by 0.24% or 20.06 points DAX – Up by 0.50% or 92.74 points Gift Nifty – Unchanged at 22,180.00 *FII/DII activities* FII – Bought 2170.32 Cr worth of shares DII – Bought 1197.61 Cr worth of shares. *Stocks with high delivery percentage* Dr Reddy’s Lab – 99.13 % Axis Bank– 98.56% SBI– 98.223% M&M– 98.22% NTPC– 97.40% *Primary market activities* IPO opening today Jay Kailash Namkeen (BSE SME) – Issue size 11.93 Cr K2 Infragen (NSE SME) - Issue size 40.54 Cr Aluwind Architectural (NSE SME) - Issue size 29.70 Cr Creative Graphics Solutions India (NSE SME) - Issue size 54.40 Cr *Commodities updates* Gold – Rs 66399/10gm, Silver – Rs 74677/kg, Brcrude – Rs 6775/barrel, Copper – Rs 756.35/kg. *Corporate News* Emami acquires additional 4.64% stake in Brillare Info Edge (India) to invest Rs 30 crore in Redstart Labs (India) Bhagiradha Chemicals’ arm starts commercial production in agrochemicals manufacturing plant Cyient enters into strategic partnership with Deutsche Aircraft Jio Financial Services subscribes to 40 lakh equity shares of Rs.10/- each of Jio Payments Bank, for cash at par, aggregating Rs. 4 crore

Any time Circuit Open 🚀🚀🚀🚀🚀

https://www.bseindia.com/corporates/anndet_new.aspx?newsid=8217e871-5f5b-4dd3-98f2-f608e436f00a

*Rudra Global Infra Products* manufactures TMT bars and its products conform to international standards and caters to L&T, RIL, Adani, NHAI, etc. It plans to shift to green energy for which it will invest Rs.100 cr. for 20MW power in Phase-1.

Ready to open lower circuit Fast🚀🚀

Ready To Open Lower Circuit Again Rudra global taken support from strong support area Look at daily chart of RUDRA GLOBAL. Stock has taken support near 40 level which is strong support zone. Now stock has resistance near 48 level cross will take 56/60 levels Down side support exists near 40/35 levels

Morning Alert. *India's current account deficit narrows to USD 10.5 billion or 1.2 pc of GDP in Oct-Dec 2023* India's current account deficit narrowed to USD 10.5 billion or 1.2 per cent of GDP in the October-December quarter as against USD 11.4 billion or 1.3 per cent in the preceding three months ending September, the Reserve Bank said on Tuesday. When compared to the year-ago period, the narrowing in the CAD was much sharper when compared to USD 16.8 billion or 2 per cent for the October-December 2022 period, the Reserve Bank said in the data on balance of payments. For the first nine months of the fiscal, CAD has moderated to 1.2 per cent of GDP from 2.6 per cent of GDP in the corresponding period a year ago on the back of a lower merchandise trade deficit, the RBI said. Current account balances are the sum total of the entire inflow and outflow of foreign funds in the economy, and are generally taken as a key illustrator of a country's external strength. A widening in the deficit in the past had led to rupee depreciation and also actions by rating agencies on the sovereign rating. *India's growth projected at 6.8 per cent, inflation to decline to 4.5 percent: S&P Ratings* S&P Global Ratings has revised India's growth projection from 6.4 per cent to 6.8 per cent. After a better-than-expected 7.6% growth in fiscal year 2024 estimated by the National Statistical Office, S&P India pegged real GDP growth to moderate to 6.8% in fiscal year 2025. Factors contributing to this moderation include restrictive interest rates expected to weigh on demand, regulatory actions aimed at controlling unsecured lending, and a lower fiscal deficit, which is anticipated to dampen growth prospects. The agency also said consumer inflation is expected to decline further to 4.5% on average in fiscal 2025 While non-food Consumer Price Index (CPI) inflation softened by approximately 250 basis points, food inflation experienced a slight rise of 40 basis points in the first ten months of the current fiscal year. Despite these fluctuations, headline inflation is estimated to have decreased to 5.5 per cent this fiscal year from 6.7 per cent in fiscal 2023, primarily due to elevated food inflation. In largely domestic demand-led economies such as India, Japan, and Australia, higher interest rates and inflation have impacted household spending power, leading to a reduction in sequential GDP growth in the second half of the fiscal year. *Global market action* Dow Jones – Up by 0.33% or 128.71 points FTSE – Up by 0.17% or 13.39 points CAC – Up by 0.41% or 33.15 points DAX – Up by 0.67% or 123.04 points Gift Nifty – Down by 0.09% or 19.00 points *FII/DII activities* FII – Bought 10.13 Cr worth of shares DII – Bought 5,024.36 Cr worth of shares. *Stocks with high delivery percentage* Marico – 98.25% Dabur India – 96.64% Bharti Airtel – 95.55% Infosys– 94.69% Zee Entertainment– 78.52% *Primary market activities* IPO opening today Radiowalla (NSE SME) – Issue size 14.25 Cr TAC Infosec Limited (NSE SME) - Issue size 29.99 Cr Yash Optics & Lens (NSE SME) - Issue size 53.15 Cr *Commodities updates* Gold – Rs 66125/10gm, Silver – Rs 74489/kg, Brcrude – Rs 6811/barrel, Copper – Rs 755.00 /kg. *Corporate News* Praveg launches Safari Velavadar Resort in Gujarat Dynacons gets order for Enterprise Servers from National Payments Corporation of India GAIL to commission its first green hydrogen project in April Axis Bank introduces digital opening of US dollar fixed deposit for NRI customers at GIFT City Adani Ports to buy 95% of Odisha's Gopalpur Port for $162 million

Morning Alert. *Bank direct lending to NBFCs to moderate at Rs 1.7-1.9 trn in FY25: ICRA* With increased risk weights and exposure reaching sectoral limits, bank direct lending to non-banking finance companies (NBFCs) in the country is expected to be Rs 1.7-1.9 trillion in the next financial year (FY25), according to rating agency ICRA. The incremental direct bank lending to NBFCs was Rs 1.61 trillion in the 10-month of the current financial year (FY24). ICRA said bank credit to the NBFC sector has moderated in the past few months. Going forward, banks would be more constrained to raise the share of their exposures to the sector. This would be in the backdrop of their internal sectoral limits and the recent increase in risk weights by the Reserve Bank of India for bank exposures to the NBFCs. In November 2023, RBI hiked risk weight by 25 per cent where it (risk weight) was below 100 per cent, signalling the regulator’s concerns about high pace of bank lending to NBFCs. According to RBI data, the outstanding bank loans to NBFCs stood at Rs 15.03 trillion in January 2024. Bank lent Rs 3.08 trillion to finance companies in FY23. It was much lower at Rs 73,831 crore in FY22. The estimated incremental direct bank lending of Rs 1.7-1.9 trillion for FY25 would be about 33 per cent of the total base case incremental funding requirements of the sector (Rs 5.3-5.5 trillion) in FY25. This is against meeting an estimated 38 per cent of incremental funding requirements in FY24 via direct lending, ICRA said. *United States Federal Reserve expected to cut rates, lift President Joe Biden's prospects* As the presidential campaign season intensifies, the U.S. Federal Reserve is poised to lower interest rates, which might help President Joe Biden given that surveys indicate the public disapproves of his management of the economy. The Federal Reserve might have a significant, if unsettling, impact on election-year sentiment by influencing perceptions of persistently high inflation and rising housing costs, which have hampered Biden's chances of reelection. Rate reductions will also encourage detractors, foremost among them being Donald Trump, the Republican opponent, to claim that an organisation established to serve as an impartial financial regulator is swaying the political balance in favour of Biden. In fact, Trump stated to Fox Business last month that he expects Fed Chair Jerome Powell—whom Trump appointed to lead the central bank in 2018 but quickly came to dislike—"to do something to probably help the Democrats... if he lowers interest rates." In other words, Trump isn't even waiting for the first rate cut to occur before making that claim. *Global market action* Dow Jones – Up by 0.12% or 48.50 points FTSE – Down by 0.17% or 13.35 points CAC – Flat by 0% or 0.32 points DAX – Up by 0.30% or 55.37 points Gift Nifty – Up by 0.23% or 50.50 points *FII/DII activities* FII – Sold 3,309.76 Cr worth of shares DII – Bought 3,764.87 Cr worth of shares. *Stocks with high delivery percentage* Marico – 98.25% Dabur India – 96.64% Bharti Airtel – 95.55% Infosys– 94.69% Zee Entertainment– 78.52% *Primary market activities* IPO opening today SRM Contractors Ltd (Main Board) – Issue size 130 Cr *Commodities updates* Gold – Rs 66010/10gm, Silver – Rs 74898/kg, Brcrude – Rs 6820/barrel, Copper – Rs 757.80/kg. *Corporate News* Berger to produce sustainable paint stabilisers with tech from RK Mission college. Shree Cement enters ready mix concrete segment. Hindustan Aeronautics signs contract with Guyana Defence Force ITC acquires stake in International Travel House, Maharaja Heritage Resorts Adani Ports to buy 95% of Odisha's Gopalpur Port for $162 million

होली के खूबसूरत रंगों की तरह आपको और आपके पूरे परिवार को हमारी तरफ से बहुत बहुत रंगों और भरी उमंगो भरी शुभकामनाएं होली की शुभकामनाएं ! Equity99

*Global bits* ✒️UK consumers turn positive about their finances, GfK survey shows ✒️US economy on solid ground as weekly jobless claims fall, home sales surge ✒️UK inflation 'moving in right direction' for rate cuts, Bank of England says ✒️Markets ready for more as Switzerland starts clock on rate cuts ✒️US existing home sales rise to one-year high in February ✒️Wall Street hits record closing highs on rate-cut optimism; chip sector rallies ✒️Turkey central bank stuns market with 500-point rate hike to 50% ✒️Oil eases on possible Gaza ceasefire, dollar strength Source: Reuters

Morning Alert.. *Election Commission publishes electoral bond data with matching numbers* The Election Commission (EC) on Thursday evening made public a fresh data set of electoral bonds, including their alpha-numeric numbers, which enable matching the purchases of these bonds with the political parties that received the funds. The EC posted the details on its website hours after State Bank of India (SBI), through its Chairman Dinesh Kumar Khara, told the Supreme Court that it had submitted the complete details of electoral bonds, including the “unique alpha-numeric” details of bonds, to the election watchdog. The EC posted on its website two separate lists -- of the purchasers of the bonds and the political parties that redeemed these bonds. The purchaser list runs into 386 pages, with details of 18,871 bonds bought between April 12, 2019, and January 11, 2024. The 552-page list of parties that redeemed these bonds pertains the period April 12, 2019, to January 24, 2024. The EC said it had uploaded the data received from the SBI on “as is where is basis”. The affidavit said the complete bank account numbers and KYC details of the political parties and the purchasers of electoral bonds were not being made public because it might compromise the security of the account. However, they are not necessary for identifying the political parties, the filing said. “SBI has now disclosed all details and that no details (other than complete bank account numbers and KYC Details) have been withheld from disclosure,” the affidavit said. *Global market action* Dow Jones – Up by 0.01% or 4.51 points FTSE – Up by 1.88% or 145.17 points CAC – Up by 0.22% or 18.31 points DAX – Up by 0.91% or 164.12 points Gift Nifty – Down by 0.27% or 59.00 points *FII/DII activities* FII – Sold 1826.97 Cr worth of shares DII – Bought 3208.87 Cr worth of shares. *Primary market activities* P&G Health Ltd – 91.3% Cyient Ltd – 90.6% SKF India Ltd – 89.6% Ajanta Pharma Ltd – 88.9% Galaxy Surfactants Ltd – 88.9% *Primary market activities* IPO opening today Naman In-Store (India) Ltd (NSE SME) – Issue size 25.35Cr Listing today KP Green Engineering Ltd (BSE SME) – Subscribed 29.5x Enfuse Solutions Ltd (NSE SME) – Subscribed 357.31x Enser Communications Ltd (NSE SME) – Subscribed 7.29x *Commodities updates* Gold – Rs 68780/10gm, Silver – Rs 75034/kg, Brcrude – Rs 6743/barrel, Copper – Rs 757.1/kg. *Corporate News* Patanjali MD Balkrishna submits apology to SC in misleading ads case. Schneider Electric invests Rs 100 cr in new cooling factory in Bengaluru. TCS signs 7-year deal to transform IT infrastructure for Denmark's Ramboll.

Ready to break above 45🚀🚀🚀

Morning Alert.. *Rupee slumps to over 2 month low against Dollar, weakened 1.2% in FY24* The Indian rupee slumped against the US dollar for the second straight session ahead of the US Federal Reserve (Fed) meeting outcome on Wednesday. The local currency fell by 15 paise to settle at Rs 83.16 per dollar, the lowest since January 4. “The rupee experienced a decline driven by the rise in the dollar index, which surged by 0.8 over the past two days to 103.78 before the US interest rate announcement scheduled for later in the evening. With significantly reduced expectations for interest rate cuts in the March policy, the dollar strengthened, leading to overall weakness in other currencies,” said Jateen Trivedi, vice-president-research, LKP Securities. “Speculation suggests that rate cuts might be delayed until the June-July 2024 policy, further fuelling the dollar rally. The tone of the Fed policy review will be crucial, as a hawkish stance could trigger a sharp rally in the dollar index, potentially pushing the rupee lower towards the Rs 83.25-83.3 per dollar range,” he added. Market participants speculated that the Reserve Bank of India (RBI) has been intervening in the foreign exchange market via dollar buys to build the foreign exchange (forex) reserves up to $650 billion by March-end, which further weighed on the rupee. *Fed meet highlights* The US Federal Reserve announced its interest rate decision today after a two-day Federal Open Market Committee (FOMC) meeting, leaving the benchmark interest rates unchanged at 5.25 per cent - 5.50 per cent for the fifth straight meeting, in line with Street estimates. However, the FOMC said that it expects three rate cuts in 2024 despite sticky inflation. The rate-setting panel ended its second policy-setting meeting of the year and unanimously voted to hold the policy rate at the 23-year high mark, but said it "does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward two per cent." FOMC members also left the median projection for interest rates at end-2024 at the midpoint between 4.50 and 4.75. This means they still expect 0.75 percentage points of cuts before the end of the year, which would likely translate into three 0.25 percentage point cuts. *Global market action* Dow Jones – Up by 0.26% or 101.66 points FTSE – Down by 0.01% or 0.92 points CAC – Down by 0.48% or 39.64 points DAX – Up by 0.15% or 27.64 points Gift Nifty – Up by 0.75% or 165.00 points *FII/DII activities* FII – Sold 2599.19 Cr worth of shares DII – Bought 2667.52 Cr worth of shares. *Primary market activities* P&G Health Ltd – 93% Krishna Institute of Medical Science Ltd – 87.8% Blue Dart Express Ltd – 87.1% Westlife Foodworld Ltd – 87% AIA Engineering Ltd – 85.7% *Primary market activities* IPO opening today Vishwas Agri Seeds Ltd (NSE SME) – Issue size 25.80Cr Listing today Krystal Integrated Services Ltd (Main board) – Subscribed 13.49x *Commodities updates* Gold – Rs 67545/10gm, Silver – Rs 75338/kg, Brcrude – Rs 6745/barrel, Copper – Rs 754/kg. *Corporate News* JSW MG Motor India to invest Rs 5,000 cr; focus on new energy vehicles. Himadri Speciality Chemical to acquire 40% stake in Invati Creations. L&T Technology Services to train 1,000 engineers in Nvidia's GenAI software.

https://economictimes.indiatimes.com/markets/stocks/news/us-fed-meet-outcome-today-two-possible-scenarios-that-dalal-street-can-look-at/articleshow/108635726.cms

Ready to break important Resistance 45🚀

Only 36 k sellers left any time Circuit open

https://www.livemint.com/companies/company-results/rudra-global-infra-products-q3-fy24-results-live-profit-rises-by-26-27-yoy-11708118818202.html

Ready to Open Lower Circuit 🚀🚀🚀🚀🚀

Ready to Open Upper Circuit 🚀🚀🚀🚀🚀

Ready To Open Lower Circuit Again Rudra global taken support from strong support area Look at daily chart of RUDRA GLOBAL. Stock has taken support near 40 level which is strong support zone. Now stock has resistance near 48 level cross will take 56/60 levels Down side support exists near 40/35 levels

Check Announcement

Important & Latest announcement Rudra Global Infra Products Ltd...

Ready to open lower circuit, this selling is mostly due to March month market pressure, soon we expect upside rally 🚀

https://www.bseindia.com/corporates/anndet_new.aspx?newsid=8217e871-5f5b-4dd3-98f2-f608e436f00a

Rudra Global Infra Products manufactures TMT bars and its products conform to international standards and caters to L&T, RIL, Adani, NHAI, etc. It plans to shift to green energy for which it will invest Rs.100 cr. for 20MW power in Phase-1.

*News Headlines from Business News Agencies:* *Business Standard* 📝 Vodafone Idea to meet institutional investors in Singapore, Mumbai 📝 India buying more oil from US as fresh sanctions stifle Russian flows 📝 Bankrupt airline Go First's bidder ups bid following nudge from banks 📝 Corporate real estate sentiment highest since April-June 2022: Report 📝 Ayodhya on track to become world's biggest spiritual destination: IHCL CEO 📝 Lenovo Legion series, powered by Intel AI chips, launched in India 📝 Grasim Industries secures Rs 1,250 cr from International Finance Corp 📝 CAE signs deal with Akasa Air to train budget carrier's B737 Max pilots 📝 Better growth supports the case for small-caps in Asia: Jefferies 📝 Sun Pharma gets approval to sell acne treatment cream Winlevi in Australia 📝 ASK Hedge Solutions aims to raise Rs 3,000 cr in maiden long-short NFO 📝 Income Tax department recovers Rs 73,500 cr in pending dues for FY24 *Economic Times* 📝 Snowflake partners with Nvidia to launch full-stack AI platform 📝 Audi to drive in over 20 new models by 2025-end: CEO Gernot Dollner 📝 B Capital closes second Opportunities fund at $750 million 📝 IPO-bound Reddit discloses patent infringement complaint from Nokia 📝 Central banks use AI to assess climate-related risks 📝 Ant Group reshuffle: Han Xinyi appointed new president in biggest restructuring 📝 Tata Motors opens fifth registered vehicle scrapping facility 📝 Non-basmati rice prices down 10% in a month 📝 REC board Okays third interim dividend of Rs 3.5 per share 📝 Avaada Inclean inks pact with DVC to supply electricity in Gujarat 📝 Indian rupee weakens past 83/USD, touches lowest level in a month *Mint* 📝 Nvidia's Blackwell GPU may reach Indian shores as early as October 📝 Grasim raises ₹1,250 crore from IFC through sustainability-linked NCDs 📝 Citibank to launch digital payments product Spring in India in Q2 📝 Sebi-mandated stress tests on small, midcaps serve a purpose despite limitations 📝 L&T Finance declares fund raise not exceeding ₹1.01 lakh crore via NCD 📝 Hotel industry market cap tripled since 2019; Jefferies sees momentum continuing 📝 GST council postpones review of 28% levy on online gaming 📝 Deloitte plans restructure to cut costs, may cut down biz units, says report 📝 Nvidia launches AI-powered playground for building the future of 6G 📝 Kumar Venkatasubramanian to take take over as P&G India CEO 📝 Microsoft ties up with NVIDIA to drive healthcare innovation 📝 Tata steel to raise Rs 2700 crore via NCDs on private placement basis

Morning Alert.. *Inflation still high and focus on minimising risk, says RBI report* With retail inflation gaining momentum in February, the monetary policy must remain in a risk-minimising mode to guide the trajectory towards the 4 per cent target, stated the Reserve Bank of India's State of the Economy report. It also underscored an upward trend in per capita income, citing data from the Household Consumption Expenditure Survey. The report noted that the recurring incidence of short-amplitude food price pressures is hindering a more rapid decline in headline inflation towards the 4 per cent target. “Inflation is on the ebb; the steady decline in core inflation would have taken down headline inflation towards the target of 4 per cent even sooner and faster, but for the repetitive incidence of short amplitude food price pressures,” stated the report, which is authored by RBI staffers, including Deputy Governor M D Patra. The views of the report do not reflect the views of the central bank. “The CPI readings for January and February 2024 show that the winter easing of vegetable prices turned out to be shallow and short-lived. Cereal prices maintained strong momentum, and prices of meat and fish have registered a surge,” it said. *Global market action* Dow Jones – Up by 0.92% or 357.14 points FTSE – Up by 0.20% or 15.75 points CAC – Up by 0.65% or 52.91 points DAX – Up by 0.31% or 54.81 points Gift Nifty – Up by 0.31% or 67.00 points *FII/DII activities* FII – Bought 1421.48 Cr worth of shares DII – Bought 7449.48 Cr worth of shares. *Primary market activities* P&G Health Ltd – 96.3% Route Mobile Ltd – 93.7% Timken India Ltd – 93.4% Blue Dart Express Ltd – 93.2% Go Fashion (India) Ltd – 90% *Primary market activities* IPO opening today Omfurn India Ltd (NSE SME) – Issue size 27Cr Listing today AVP Infracon Ltd (NSE SME) – Subscribed 21.45x *Commodities updates* Gold – Rs 67430/10gm, Silver – Rs 75295/kg, Brcrude – Rs 6883/barrel, Copper – Rs 756.55/kg. *Corporate News* HDFC Bank raises Rs 2,910 cr via infrastructure bonds for funding projects. ATC opts to convert Rs 1,440 crore Voda Idea debt bonds into equity. SC asks Ramdev, Balkrishna to appear personally in misleading ads case.

Big Announcement by the Management AARTECH SOLONIC 🚀

https://www.bseindia.com/corporates/anndet_new.aspx?newsid=9ab2354a-5ee8-4ba9-ae9c-43b85960f53b

Morning Alert.. *India's outward FDI rises to $3.47 billion in February, shows RBI data* India’s outward foreign direct investment (FDI) commitments rose substantially to $3.47 billion in February 2024, compared to over $2.82 billion in February 2023. Sequentially, FDI commitments were also up from $2.18 billion in January 2024, according to Reserve Bank of India (RBI) data. Outbound FDI, expressed as a financial commitment, comprises three components: equity, loans, and guarantees. The equity commitments declined to $502.14 million in February 2024 from $776.79 million a year ago. It was also lower than the $764.29 million recorded in January 2024. Debt commitments decreased to $251.08 million in February 2024, down from $334.75 million in February 2023. It was also lower than $306.59 million in January 2024. Guarantees for overseas units swelled to $2.71 billion in February 2024 from $1.71 billion in February 2023. They were also substantially higher compared to $1.11 billion in January 2024, RBI data showed. *Global market action* Dow Jones – Up by 0.04% or 15.59 points FTSE – Down by 0.06% or 4.87 points CAC – Down by 0.20% or 16.21 points DAX – Down by 0.02% or 3.97 points Gift Nifty – Down by 0.36% or 80.50 points *FII/DII activities* FII – Sold 2051.09 Cr worth of shares DII – Bought 2260.88 Cr worth of shares. *Primary market activities* Carborundum Universal Ltd – 93.8% SKF India Ltd – 93.4% Kajaria Ceramics Ltd – 88.2% ICICI Lombard General Insurance Company Ltd – 88% Schaeffler India Ltd – 87.1% *Primary market activities* IPO opening today Chatha Foods Ltd (BSE SME) – Issue size 34Cr Listing today Signoria Creation Ltd (NSE SME) – Subscribed 666.32x Popular Vehicles & Services Ltd (Main board) – Subscribed 1.25x Royal Sense Ltd (BSE SME) – Subscribed 8.52x *Commodities updates* Gold – Rs 67395/10gm, Silver – Rs 75490/kg, Brcrude – Rs 6847/barrel, Copper – Rs 766/kg. *Corporate News* Tata Sons to sell 23.4 mn TCS shares worth Rs 9,362 crore in block deal. Blinkit may become bigger than Zomato's food biz in 1 year: Deepinder Goyal.

*Advance tax collections for March 15th have been at Rs 9.10 lakh crore.* So far, corporates have paid Rs 6.72 lakh crore in advance tax while individuals accounted for Rs 2.37 lakh crore. To dimension it , this Rs 9.10 lakh crore is on a gross FYTD number of Rs 22.25 lakh crore in FY2024 till March 15th. Gross tax collections are up 13.5% Y-o-Y while net tax collections are up 14.05% Y-o-Y. Very positive numbers, pointing to strong Corporate earnings growth and strong household personal income growth. 👍