*Commodities market update*

# Oil prices retreat on a dimmer demand outlook along with strengthening the US dollar. Brent and WTI prices were down by 1.3% and 1.6% to US$64.14/bbl and US$60.55/bbl respectively.

# Natural gas prices moved up by 1.4% to US$2.62/mmbtu.

# Iron ore production from Brazil is expected to return to normal levels by the end of CY2021. Also, Australia’s iron ore production is ramping up. Chief economist of Australia thus expects iron ore prices to fall by 50% from current levels towards the end of CY2021.

# Market anticipates steel price hike by Primary mills can be as high as Rs4,000/t for Apr’21 deliveries.

# China’s domestic prices for HRC and Rebar close at record highs due to high industrial activities. Rebar and HRC prices moved up by 2.6% and 3.7% to US$758.1 and US$812.4/t respectively.


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Ramanews ready to rocket 🚀

TCS: TATA SONS RELEASED 1.81% PLEDGE SHARES

TATA STEEL: TATA SONS RELEASED 0.63% PLEDGE SHARES

TATA POWER: TATA SONS RELEASED 0.56% PLEDGE SHARES

TATA MOTORS: TATA SONS RELEASED 0.70% PLEDGE SHARES


UltraTech Cement: The company has prepaid its long-term loans amounting to Rs 5,000 crore. The loan repayments have been done through free cash flows generated over the last few quarters. Positive


President Joe Biden will unveil his vision for a mass ramp-up in U.S. infrastructure spending Wednesday


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Singficant reduction in PPF and other contractual saving products !

I always recommended investors not to invest in these options for their financial future. If you do not learn to invest in equity then you are sure to see you are losing capital over long time. Banks FDs are no different!!!

World Markets

Dow - 85
Nasdaq + 201
Dax - 1
Nikkei + 386
Hangseng + 208
Sgxnifty + 95 (14857)
Brent Crude 63.02
Dow Fut + 2
Dollar Index 93.22

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Stocks To Watch

Axis Bank: Has entered into a share purchase agreement to sell 100% stake in Axis Bank U.K. Ltd. to OpenPayd Holdings Ltd. Sale to fetch an overall consideration of $5.5 million along with book value of the bank. Transaction likely to be completed by September 30, 2021, subject to approval from the U.K. financial regulator.

Wipro: Announces acquisition of Australia-based Ampion for
a cash consideration of $117 million. The transaction is expected to be completed during the quarter ending June 30, 2021. The deal is subject to regulatory approvals and customary closing conditions. Ampion is the provider of cyber security, development operations and quality engineering services in Australia.

HCL Technologies: Has entered into an agreement with Tenneco for a multi-year, integrated application development, modernisation, and operations services contract.

Hindalco: Novelis Inc announced the completion of offering of €500 million aggregate principal amount of 3.375% euro-denominated senior green notes due April 15, 2029 by Novelis Sheet Ingot GmbH, an indirect wholly-owned subsidiary of Novelis. The Notes are guaranteed, jointly and severally, on a senior unsecured basis, by Novelis, and by certain Novelis subsidiaries.

Hindustan Aeronautics: Recorded a revenue in excess of Rs 22,700 crore for the financial year ended March 31, 2021 and posted a revenue growth of around 6%. Further, the company has ended the year with a positive cash balance of around Rs 6,700 crore as against borrowings of Rs 5,775 crore as on March 31, 2020.

Likhitha Infrastructures: The company received a contract of Rs 34.63 crore from Indian Oil Adani Gas Pvt. Ltd. on March 31, 2021 for laying Pipeline from Thrissur Geographical Area to Ernakulam Geographical Area. Post this order, the company has received orders worth Rs 234.85 crore from various oil and gas distribution companies during Q4FY21.

Rossari Biotech: Has fully operationalised all phases of its Greenfield manufacturing facility at Dahej, Gujarat. The Greenfield facility will have a total installed capacity of 132,500 MTPA. The facility will not only provide cost and logistical advantage but also double the company's overall capacity. Rossari is confident of ramping up utilisation levels at Dahej courtesy a strong upcoming product pipeline.

Bodal Chemicals: Has acquired Siel Chemical Complex situated at Rajpura in Punjab from Mawana Sugars. The operations from the said unit will be merged with Bodal Chemicals from April 1, 2021.

Bank of India: Gets capital infusion of Rs 3,000 crore from the government.

Central Bank of India: Divestment of entire stake in Cent Bank Home Finance to Centrum Housing Finance has been cancelled. The lender has also received capital infusion of Rs 4,800 crore from the government.

Indian Overseas Bank: Gets capital infusion of Rs 4,100 crore from the government.

UCO Bank: Gets capital infusion of Rs 2,600 crore from the government.

Sunteck Realty: Has entered into Joint Development Agreement for development of a residential project in Mumbai's Borivali.

NHPC: Has completed the formalities for the takeover of Rangit Stage-IV HE Project (120 MW) by remitting Rs 165 crore to the account of Jal power Corporation for distribution to the creditors as per the approved resolution plan. JPCL is now a wholly-owned subsidiary of the company.

NTPC: First part capacity of 70 MW of 85 MW Bilhaur Solar PV Project in Uttar Pradesh, is declared on Commercial Operation with effect from March 28. With this, the commissioned as well as commercial capacity of NTPC and NTPC group has become 51,725 MW and 64,490 MW respectively.

Godrej Properties: Has increased its stake in Godrej Realty from 51% to 100% by acquiring equity shares from HDFC Venture Trustee Company. Subsequently, Godrej Realty has become a wholly-owned subsidiary of the company with effect from March 31.

Spandana Sphoorty Financial: Board has approved the issuance of Secured Unlisted NCDs of up to an aggregate amount of Rs 45 Crore.

Heranba Industries: To add capacity at Unit 4 situated in Vapi for which the company has started the capital expenditure. The company expects to start commercial production by Q3FY22.

Acrysil: Has commenced the dispatches of Quartz Kitchen sinks to IKEA Supply AG. The company had entered into strategic partnership with IKEA in 2020 for manufacturing and supply of composite quartz kitchen sinks for their global requirement.

DLF: Rajeev Talwar has retired as the CEO and Whole-time Director of the company effective March 31.

Vedanta: GR Arun Kumar to step down as the Chief Financial Officer effective April 24, 2021.

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Pledge Share Details

Apollo Tyres: Promoters Apollo Finance and Sunrays Properties and Investments Company revoked pledge of 1.06 crore shares between March 26-30.

Aurobindo Pharma: Promoter Group created a pledge of 1.05 crore shares between March 26-31.

Chambal Fertilisers & Chemicals: Promoter Premium Exchange & Finance created a pledge of 30 lakh shares on March 26. Promoter Zuari Global revoked pledge of 90,000 shares on March 26.

Kalpataru Power Transmission: Promoter Kalpataru Constructions revoked pledge of 9.78 lakh shares on March 30.

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Trading Tweaks

Price Band Revised From 20% To 10%: Mukand

Record Date Buyback: Aarti Drugs

Move Into Short-Term ASM Framework: Dhani Services, Hinduja Global Solutions, Bliss GVS Pharma

Move Into ASM Framework: Jindal Stainless, KPIT Technologies

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Insider Trades

Apollo Tyres: Promoter PTL Enterprises bought 22,000 shares on March 26.

Eris Lifesciences: Promoter Himanshu Shah sold 16,696 shares between March 25-26.

Godrej Agrovet: Promoter Godrej Industries bought 32,988 shares on March 25.

Godfrey Phillips India: Promoter KK Modi Investment And Financial Services bought 23,975 shares on March 30.

J Kumar Infraprojects: Promoters Sonal Gupta and J Kumar Minerals And Mines India bought 3.15 lakh shares on March 26.

Karda Constructions: Promoter Prem Karda sold 1 lakh shares on March 30.

Minda Industries: Promoters Amit Minda and Anand Minda sold 11,000 shares on March 30.

Power Mech Projects: Promoter bought 38,002 shares on March 30.

Religare Enterprises: Promoter bought 5,000 shares between March 22-26.

Raymond: Promoters JK Investo Trade (India) and JK Investors (Bombay) bought 1.43 lakh shares on March 30.

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Money Market Update

The rupee ended at 73.11 against the U.S. Dollar on Wednesday as compared to Tuesday's close of 73.38.

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OnMobile Global Limited (“OnMobile”), the global leader in mobile entertainment, and Chingari, India’s homegrown short-form video app announced today that OnMobile has led a $13 Million round in Chingari.



This investment will allow Chingari to accelerate its growth from 56 Million users to over 100 million users. As part of the deal, OnMobile will integrate and distribute its direct-to-consumer gaming platform, ONMO, on the Chingari app and collaborate on other mobile product integrations to serve millions of users. Chingari will use the funds to enhance its content portfolio, hire top talent and accelerate its growing user base.



Other investors who participated in this round include Republic Labs US, Astarc Ventures, White Star Capital, India TV (Rajat Sharma), JPIN Venture Catalysts Ltd, ProfitBoard Ventures, and some large family office funds from the UK. Earlier last year Chingari had raised $1.4 Million from a series of Angels, including Jasminder Gulati, FJ Labs (Fabrice Grinda), Angelist, Utsav Somani’s iSeed, Village Global, and Blume Founders Fund.

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- Joe Biden to unveil $2 trillion investment plan to transform US infrastructire
- Markets will look forward to auto sales nos for the month of March 2021. Expect good nos from Maruti Escorts and M&M / Expect subdued sales from 2 wheeler makers
- Market expects strong GST collections for March 2021
- Quarterly updates from cos like Titan Marico also will influence markets
- JSW Steel and Tata Steel cross their 52 week highs and consolidate gains
- Expect Ultratech Cement and Shree Cement to move furthur from current levels
- Cement cos eye furthur price hikes as demand outlook improves

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Asian markets edge higher today following big tech rally on Wall Street as investors bet that U.S. fiscal stimulus aggressive vaccinations and President Joe Biden announcement of a multi-trillion-dollar infrastructure investment plan will help the United States lead a global pandemic recovery.

Nikkei is trading 364 points higher
HangSeng is trading 222 points higher
SGX Nifty is trading 118 points higher

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From April 1, 2021, the I-T department will also get information related to your share trading, mutual fund transaction, dividend income as well as interest on Post Office deposits and deposits in Non Banking Financial Companies (NBFCs). These transactions will also be reflected in the new format of Form 26AS.
As the I-T department will get all this information directly from your broker,/AMC/ post office, it will be difficult for for tax evaders to suppress these incomes.

Until now ITR forms allowed taxpayers to auto populate details such as Name, PAN, Address, Bank Details, Tax payment and TDS, etc. While presenting the Union Budget for FY22, the Finance Minister said that ITR forms will now come pre-filled with details such as capital gains from listed securities, dividend income, and interest from banks, post office, etc. for the purpose of easing the procedure of return filing.
To make these proposals effective, the  CBDT issued a notification on March 12, 2021, wherein it said that a specified category of persons required to furnish a statement of financial transaction u/s 285BA of the Income Tax Act, 1961, and it should include information pertaining to capital gains on transfer of listed securities or units of Mutual Funds, dividend income, and interest income. The category of persons required to report such transactions are recognised Stock Exchange such as BSE, NSE, depositories, recognised clearing corporation, registrar to an IPO, share transfer agents, companies distributing dividend, banking companies or a co-operative bank covered under the banking laws, Post Master General defined under the Indian Post Office Act, 1898 and NBFCs.

So from April 1, 2021, due to the broad coverage of data in the Annual Information Statement (AIS), the taxpayer needs to ensure that all details of income from sources such as salary, interest, dividend, capital gains rom mutual funds and shares, are shown in the ITR. Any escapement by the taxpayer on this may attract severe penalty, say tax experts.

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Government withdraws small savings scheme rate cut

https://www.moneycontrol.com/news/business/government-withdraws-small-savings-scheme-rate-cut-6716671.html

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*Good Morning*
• India Retains Inflation Target, Keeps Borrowing as Planned
o Affirms Central Bank’s Inflation Target for Five Years
• India’s Current Account Flips Back to Deficit on Trade Gap
o Oct.-Dec. Current Account Deficit $1.70B; Est. -$2.35B
o India Extends Emergency Credit Plans Until End-June
• India Plans $99 Billion of Bond Sales in Fiscal First Half
o To Borrow 7.24 Trillion Rupees in Fiscal First Half FY22
o India to Conduct 25 Weekly Govt Bond Auctions During April-Sept.
o India Ways and Means Advances Limit at INR1.2T for April-Sept
• India Maintains 15% Foreign Investment Limit in Corporate Bonds
• India Lowers Interest Rates on Small Saving Plans From April 1
• India Feb. Key Industries’ Output Falls 4.6% Y/y
• India April-Feb. Fiscal Deficit Reaches 76% of FY21 Target
• India Extends Foreign Trade Policy Until Sept. 30
• Cabinet approves Incentive Plan for Food Processing Industry
• India Retains Decade Low Natural Gas Price for Another 6 Months
• S&P Boosts 2021 Global GDP Growth Forecast to 5.5%
• Indian Banks Loans to Mid-Size Companies Rise to 7 1/2- Year High
• India to Inject $2 Billion Capital in Four Weakened State Banks
• Power Finance, REC to Reduce Lending Rates by up to 2%
• Biggest Rupee Bear Sees Asia’s Top FX Hitting One-Year Low
• Indian Rupee Reverses Drop on JSW Hydro-Related Inflows: Traders
• Agarwal’s Vedanta Plans New $1.4 Billion Copper Smelter
• World Sugar Deficit Outlook for 2020-21 Cut to 3.2m Tons: Stone
• Global Funds Sell Net INR16.9B of India Stocks on Wednesday: NSE
o Domestic funds buy net 20.8b rupees of stocks
• Foreigners Sell Net INR5.93B Indian Equity Derivatives Wednesday
• Pakistan to Resume Trade With India After 19-Month Hiatus
o Reduces Domestic Fuel Prices; Revives Trade With India
• IMF Warns World Economy Is at Risk of Being Scarred by Virus
• India Panel on Farm Laws Has Submitted Report to Top Court: PTI
• Lodha Developers may hit capital mkt on Apr. 7: PTI
• Bharat Petroleum (BPCL): Buys out Refinery JV Partner’s stake ahead of privatization; to pay INR24b to its Omani partner
• Britannia Industries (BRIT): Names Urjit Patel as non- executive independent director
• ESAB India (ESAB): Says Colfaxdemerger doesn’t affect its structure
• Hindalco Industries (HNDL): Says closing of green notes offering by unit Novelis
• Lemon Tree (LEMONTRE): To take full control of Hamstede Living by acquisition of 70% stake
•

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