MarketBuzz
1223: Marketbuzz Podcast with Kanishka Sarkar: Biz updates, earnings and RBI policy in focus this week
(upbeat music) - Good morning, everyone. Welcome back to CNBC TV18's Market Bus Podcast. This is your host, Kanishka Sarkar. I hope you all had a good long weekend. Before we head into the new trading week, here's a quick recap of the truncated trading week gone by. The NFT came within 10 points of making a new record high on March 28th, but failed to do so. What followed was a sharp sell-off from the highs of the day during the final 45 minutes of the session, which questioned the entire 400-point jump from the lows that the NFT witnessed on the F&O expiry day. Both foreign and domestic investors remain net buyers in the cash market on Thursday. Also, not to forget, the last week marked the end of FY24 fiscal, and today, the FY25 financial year begins. Globally on March 28th, US stocks close mixed ahead of the Easter break. On good Friday, the US February inflation came in line with expectations from Dow Jones, with a personal consumption expenditure price index, which excludes food and energy, increasing about 2.8% on a 12-month basis, and it was up 0.3% from a month ago. Federal Reserve Chair, Jerome Povel, also reiterated the message that he has sounded in recent weeks, which is that while the Fed expects to cut interest rates this year, it won't be ready to do so, until it sees more good inflation readings, and is more confident that annual price increases are falling towards this 2% target. Now, speaking at the conference at the Federal Reserve Bank of San Francisco, Povel said, that he still expected inflation to come down on a sometimes bumpy path to 2%. Now, this morning, Asia Pacific Markets climbed as investors assessed China's business activity for February, and await economic data out of Japan. Oil prices edged down slightly, holding on to most of their recent gains, amid expectations of tighter supply from OPEC+ cuts, attacks on Russian refineries, and up-beat Chinese manufacturing data. Ben Crone fell 17 cents to $86.83 a barrel. Now, talking about the domestic market, NFTC is a make-or-break week ahead. We'll find out if the correction from mid-January is just a pullback, or if the uptrend is intact. Support for NFTC stands at $22,152. The week will be data-driven, as companies will start reporting their March quarter business updates, particularly banks and financials, along with certain FMCG companies. The focus will also be on RBI monetary policy between April 3rd and 5th, and whether the MPC will provide further clarity on where the interest rates are headed in the country. Now, the second week of April will also see IT companies start reporting their quarterly earnings, and the future commentary from them will be keenly awaited. Now, many stocks to track in today's trade. First of all, auto companies will report their March sales numbers from today. HDFC Bank has signed a binding term sheet as part of the process to sell 100% equity stake in HDFC Education and Development Services' private limited. Infosys will also be in focus, as it is expected to get a refund of 6,300 crore rupees from the income tax department. IOC or the Indian Oil Corporation has signed a binding term sheet with Panasonic Energy to manufacture lithium-ion cells in India. Meanwhile, Army NL has emerged as the lowest bidder for three projects. The orders are from Southeastern Railway, Northeast in Frontier Railway, and from the Energy Development Corporation. Adani Total Gas will also be in focus as wholly-owned subsidiary. Adani Total Energy's biomass limited has said that it has commissioned operations at Phase 1 of its Bursana Biogas Plant in Uttar Pradesh with an overall capacity of 600 tons per day of feedstock. Viranda Learning Solution is acquired 50% equity in Tapasya Educational Solutions through its subsidiary, valuing Tapasya at 240 crore rupees. Investors will also drag a Trident as it's existing capacity of Bach Linen Business at Budhini in Madhya Pradesh has enhanced from existing 622 looms with an addition of another 42 looms. Now, Canora Bank will dial you 13% stake in Canora Robeko, a set management company via an IPO. The stake dilution is subject to approval of the Reserve Bank of India and the Department of Financial Services. Torrent Power on the other hand has got a letter of award from Torrent Power Limited distribution unit, which is to set up a 150 MERE Power Grid-connected wind-solar hybrid project under the green shoe option. The project cost is worth 1,825 crore rupees. Landmark cars on the other hand are set to expand brand offerings by adding Kia India to its portfolio. Macro tech developers will acquire 50% stake in Sydney Van Eyck realities with 250 crore rupees. Metro brands, SBI Life Insurance, Indian Overseas Bank, NTPC and Adani Green Energy are some of the other stocks who watch out today. Well, those were the few cues to watch out for. In today's trade, this is Kanishka Sarkar signing off. Stay tuned to CNBC TV80 for more. (upbeat music) (upbeat music) [MUSIC] [BLANK_AUDIO]