Thanks to the confidence injected by the RBI, Indian stock markets are expected to open higher on Thursday, even though global indices are slightly negative. SGX Nifty at 14,916.80 indicates a 30 point spread opening as Nifty futures on Wednesday closed at 14,888.

Overnight, US stocks Dow Jones and S & P-500 closed slightly higher, the Nasdaq finished a little lower. However, Asian stocks such as Nikkei, Shanghai and Kospi are little changed with a negative bias, while Australian stocks are up moderately.

RBI maintained its long-term accommodative stance on Wednesday. GSec’s ₹ 1 lakh crore buy program will provide liquidity and flatten the yield curve over the long term, analysts said.

Rahul Gupta, Head of Research – Currencies, Emkay Global Financial Services, said: “The RBI policy was very interesting and looked like a quantitative easing program. and inject liquidity for a long time, as the Covid surge will continue to cast uncertainty on the outlook for growth. The RBI reiterated that growth is the priority.

Siddhartha Khemka, Head of Retail Research, Motilal Oswal Financial Services, said: Indian markets are expected to follow global indices as well as the earnings season, which kicks off from next week and keeps markets volatile.

“We expect another strong quarter, helped by a deflated base in Q4-FY20 and a healthy recovery in demand for most of Q4-FY21 – as evidenced by high-frequency indicators. Performance should be healthy despite the winds. contrary to commodity cost inflation in “However, concerns about the rapid spread of the second wave of Covid in India persist. Overall, the markets are expected to remain in a consolidating mode for some time, awaiting further positive triggers, ”he said.

Actions to watch

Hindustan copper: The Board of Directors of Hindustan Copper has approved the opening of the placement of qualified institutions. The board of directors approved the floor price of 125.79 per share. The Hindustan Copper Board of Directors approved on October 29 the aggregate borrowing limit of 2,500 crore for all types of borrowing / lending, including bonds, and equity fundraising by through the qualified institutional placement method up to 15 percent of existing payments. capitalization in one or more tranches.

Muthoot Finance launched the NCD problem today. Ltd announced its 25th series of public issue of secured non-convertible redeemable debentures with a par value of 1,000 each. The issue is with a base issue size of 100 crore with an option to retain oversubscription up to 1,600 crore, totaling up to the tranche limit of 1,700 crore. The show ends April 29.

Aimco Pesticides Limited, India’s reputable integrated agrochemicals company, has announced that it has signed a 3-year contract manufacturing contract for one of its existing products with an Indian agrochemicals major. The contract includes a 3-year supply agreement with the Customer from April 1, 2021, for one of the Company’s existing technical products. The company expects production to stabilize completely by June 2021, during which time production will increase to desired levels. Over the term of the contract, the company expects to generate revenue of around 225-250 crore. The company has already committed a 5 crore down payment and further ₹ 10 crore investments in factories and machinery, debottlenecking, utilities and security, effluent treatment facilities and storage are expected. for the 2021-22 fiscal year.

Rajesh exports bagged a first large prestigious order after covid worth 745 crore of designer gold jewelry range from Germany. The said order is to be completed by July 2021. The company will fulfill the order from its own manufacturing facilities. These facilities have a processing capacity of 250 tonnes of jewelry and gold products per year.

Wipro, a global leader in information technology, consulting and business process services, announced the appointment of Suzanne Dann as Senior Vice President and Area Head for Capital Markets and Insurance, North America region.

AGC Networks completed the acquisition of a majority stake in Z Services HQ DMCC, United Arab Emirates (Z Services HQ) through its indirect subsidiary – Black Box Holdings Cayman Islands. Z Services HQ is a cybersecurity cloud service provider, offering Secure Access Service Edge (SASE), Unified Cloud security, Email Cloud Security / Archiving, Cloud Access Security Broker (CASB), Secure Public Wifi Cloud Services, Cyber ​​Security Awareness Cloud Services, Endpoint detection and response cloud services, combined with professional service delivery and digital transformation services.

Tanla Platforms, a CPaaS provider, announced the appointment of Aravind Viswanathan as CFO effective June 1. Aravind joins the company from Wipro, where he served as Senior Vice President and Chief Financial Officer – iDEAS Global Business Line.

The IPO corner

Macrotech Developers, which launched the initial public offering of 2,500 crore yen on Wednesday, was 27% underwritten. The show will close on Friday. The issue’s price range is ₹ 483 to ₹ 486. From the proceeds of the IPO, Macrotech proposes to reduce debt up to 1,500 crore of and acquire land or land development rights totaling up to ₹ 375 crore. Prior to the problem, Macrotech Developers Ltd, also known as Lodha Developers, raised 740 crore from 14 top investors. The company informed the stock exchanges that it had allocated 1.52 crore of shares at 486 per share to major investors.