Market may open on a positive note
April 28, 2021
Volatility, however, will rise ahead of F&O expiry Domestic markets are likely to remain positive on Wednesday despite mixed global cues. Short-covering ahead of F&O expiry (April contracts) on Thursday and relatively better preparedness to tackle the spread of Covid-19 seemed to have infused a positive sentiment in the market, said analysts.
Though FPIs continue their selling, domestic funds and institutions resort to aggressive buying at lower levels and keep the market afloat, they added. Ahead of the F&O settlement, market is expected to remain volatile.
The SGX Nifty is currently ruling at 14,732 (8 am) as against Nifty April futures close of 14,644 and 14,698 (May futures), signalling positive bias. Asian markets remain mixed, with Japan, Australia, Hong Kong and the Philippines remaining in the green while Korea, Taiwan and China in the red. Overnight, the US markets ended little changed.
Info Edge on Tuesday said it will sell stake worth Rs 750 crore in the initial public offering (IPO) of its investee company Zomato. In a regulatory filing, Info Edge said Zomato an online food delivery platform is proposing an IPO of its equity shares, comprising a fresh issue of equity shares by Zomato Ltd and an offer for sale by Info Edge (India) Ltd. The Board of Directors of the Company today considered and have given their approval to the company to participate in the said Offer for Sale of up to such number of shares of Zomato Ltd as would aggregate upto Rs 7,500 million., it added.
TVS
TVS Motor Company s Operating EBITDA increases to 10.1 per cent; Revenue grows by 53 per cent; records highest ever profit in a quarter ANI | Updated: Apr 28, 2021 11:41 IST
Chennai (Tamil Nadu) [India], April 28 (ANI/NewsVoir): TVS Motor Company Revenue from Operations grew by 53 per cent at Rs 5,322 Crores for the quarter under review against Rs 3,481 Crores reported in the fourth quarter of 2019-20.
During Q4 2020-21, two-wheeler sales in domestic market have grown by 41 per cent and international markets by 74 per cent ahead of industry growth of 24 per cent and 33 per cent respectively. In the month of March 2021, Company for the first time crossed 1 Lakh units milestone for two-wheelers in International Business.