Stock Market News: Tata Meet Over Air India Losses, India-Canada Trade Deal, Gold, Silver, CNG Price

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[00:00:00]Morning [music] with us here on business today. I'm Abakaya. Let's take a look at what's uh hot at this hour.

[00:00:16]Wall Street closes higher as Dow futures jump 400 points on easing oil prices and rising optimism over a possible US Iran [music] deal. Asian markets trade mixed while South Korea's Cosby hits a record high on hopes of a diplomatic [music] breakthrough.

[00:00:31]Oil prices trade mixed as hopes of progress in US Iran talks counter fresh US military strikes in southern Iran.

[00:00:38]Brent crude hovers near $98 a barrel as investors track risks to straight of Hormus supply routes.

[00:00:46]Finance Minister Nimla Sidar Raman says the government is open to reviewing capital gains tax concerns amid FBI [music] outflows. Sidar Raman says all investor feedback on stock market taxation, [music] rupee movement and investments is being actively examined.

[00:01:03]Commerce Minister Push Goyel discusses progress on the proposed gamecher free trade deal with Canadian Prime Minister Mark Khani. The two leaders [music] reviewed the India Canada comprehensive economic partnership agreement aimed at boosting trade, [music] investment and jobs in both countries.

[00:01:21]The board of Tata Suns [music] meets today amid growing concerns over losses at several group companies. Discussions are likely on [music] the performance of lossmaking businesses including Air India, Tata Digital and Electronic Ventures. While [music] reports suggest losses at unlisted entities could rise sharply.

[00:01:43]And the rupee this morning 15 pairs say weaker once again opening [music] at 95.38 uh versus 95.23 unable to maintain the appreciation [music] that it saw yesterday. So once again seeing pressure building up on the currency [music] slipping against the dollar. Bullion prices also dropping in early trade. MCX silver down 3,300 [music] and gold slipping 500 rupees again. So pretty much negating any gains that they've made this week so far. That's the latest. Now Shelendra Patnaga and Vinit Bulichkar [music] both with us this morning. Shell, let's take a quick look at the setup today. A strong, you know, close yesterday, but this morning we're back in the red on the pre-open just marginally steady at 24,000.

[00:02:26]>> Uh good morning to you Abha and to my very dear friend Venit. Uh we're looking at a positive close to May's FNO expiry.

[00:02:36]Abha strengthen the banking sector. Uh I'll be looking at ICICI bank, HTFC bank, Reliance. Of course the financial services sector should show up and the entire energy basket should do well. Uh stocks like Adani power, Adani energy solutions in particular gas authority and HPCL uh showing signs of strength.

[00:02:58]I'm looking at earnings from OGC as well as IRCTC and overall uh the continuation of a rally in the metal space. Abhar, >> lots to track today. Vinit, good morning. Uh what's catching your interest this Tuesday morning?

[00:03:14]>> Well, I I'm quite optimistic that you know the markets will do better not withstanding the recent strikes that have been announced. So you know I think we will see a spring back in um uh the banking stocks and that should stoke the rally going ahead you know with along with the uh other sectors of the economy also.

[00:03:38]>> Okay so financials in focus and we'll come back and talk a little bit more about that. A crucial board meeting of Tata Suns expected to discuss the reappoint of group chairman and Chandra Shakran. Concerns around major losses in Tata Digital and Air India were earlier expressed by Nul Tata uh the chairman of Tata Trust at the last board meeting in February. Chandra is expected to outline the broad game plan for these businesses at today's meeting. For more on this, let's go across to business today executive editor Krishna Kopal. Krishna, what's on the anvil for this meet and of course it's a loaded meet given the uh backdrop of everything else that's happening at Tarasans currently.

[00:04:15]>> Yes, Morning Abad. The uh board meeting that took place in February wasn't exactly uh too pleasant in that sense because a couple of questions were raised by no Tata. Uh the more important ones were losses near India and Tata did well and he also made absolutely clear that future capex at least big ticket capex plans need to be reviewed. Uh so it's expected Chandra will therefore make a detailed presentation today on the game on the way forward for some of these businesses. It must be borne in mind these are long generation businesses which is exactly what the other Tata sense board members tried to outline No Tata saying it'll take time for them to be get into the black uh but obviously given the situation right now and given that all is not well between uh some of the members at Tatras uh this promises to be super interesting >> absolutely all right we'll keep an eye out on that meeting uh meanwhile let's talk about financials a little bit more uh Venit within that basket which are the key stocks that you're focusing on as we head into trade just counting down now.

[00:05:12]So you know I think we're going to be focusing on HDFC Bank in particular because you know I think the worst is over with the stock and if the you know if the positive cues are there I think we should do well on that and in line with that I think the two stocks which have gaining traction from IC investments in India is RBL bank and also Saman Capital because you know with the fresh money coming in and these two uh companies uh getting that due I think they would do well and along with this also Yes Bank should do well because it's got a lot of uh you know uh investments from the Japanese and uh along with this I think the tourism trade should do well. So you know continuing with the banking stocks I think uh uh you know Kashmir bank uh JNK bank and uh you know all the other sectors should also do well. All right.

[00:06:11]Now, India and Canada are not only set to sign a trade agreement by the end of this year, but also triple bilateral trade by 2030. Commerce Minister Push is currently heading an Indian delegation of more than 100 businessmen to Canada, energy, civil, nuclear cooperation and science and tech are likely to be at the center stage of current talks.

[00:06:32]a very ambitious target going forward where our prime minister have tasked us not only with completing the free trade agreement with a comprehensive outlook before the end of this year or earlier but tripling our trade from a current 17 billion US level to a 50 billion US level by 2030.

[00:06:59]very much doable given the sincerity of purpose, given the wonderful work both the negotiating teams have put in over the last uh two and a half months since we signed terms of reference in March and given the trust between the prime ministers of India and Canada and the warmth of [music] that relationship, we feel empowered to be able to make rapid progress. is to deliver results not only to businesses but to the people of both countries. I have come with the largest ever business delegation that stepped out of India ever in our history.

[00:07:46]>> As you know there's a lot of excitement to do more with India in terms of our economic partnership. I'm hearing from the business communities across the country, from chambers of commerce, from our stakeholders, and I'm proud to announce that I too will be taking a team Canada trade mission to India later this year uh to match the energy that Minister Goyal brought here to to Canada. Uh and this is very important.

[00:08:05]It's going to be building on the on the meetings that we're having over the next 48 hours. Uh we're going to be sitting down with our chief negotiators. Two rounds have been done. Uh we're going to be working together. A lot of WhatsApp diplomacy between us uh to conclude a deal uh this year. Uh we promised Canadians that we'd be moving fast just like India has. India has signed with many of our allies.

[00:08:23]>> All right, markets opening on your screen and we're just about uh flat right now. 29 points down on the [music] Nifty and um holding steady on the Nifty bank as well. Advances are intact.

[00:08:36]However, let's say it's a uh you know 1 is to2 ratio today. Uh so not an allout market in the green. It's also expiry.

[00:08:43][music] Uh we're seeing a steady move across most of the indices. just a marginal uptick or down tick pretty much across.

[00:08:49]Nothing major happening [music] yet. Uh let's pull up individual stocks as well.

[00:08:53]We've got Suzlon on earnings, OGC on earnings. Uh we've got JSW Energy [music] on QIP buzz. Adani uh group names are in focus as well today. Let's pull up some of the financials and see how they're doing [music] given all the traction and kind of uh expectations around some of them coming back into the fray as well. So let's take a look at [music] that and um pull up some of the movers and shakers for you. What are you spotting >> Abha? Almost a good start on the broader markets. 1581 shares in the green versus a thousand that are in the red. This is way better than what uh the other major indices are suggesting. So broader markets the rally is in shape and uh the top performing index today's the IT index 4% higher. Remember it's the weekly expiry. So nifty is likely to remain flat despite you know and yesterday it rose very well. Uh in terms of top gainers uh I'm looking at uh a reversal on SBI. Uh this was a stock that had cratered after its quarterly earnings but now shows signs of life half a percent higher at 974. BEL, Coal India, uh, OMGC, these are stocks that I'm watching. And, uh, in terms of fresh 52- week highs, well, nothing so far, but it's a fairly okay kind of a start given the fact that you have Maze FNO expiry ending today. In terms of volume buzzers, uh, I have for you, uh, BEL and Tata Motors passenger vehicles 376.5.

[00:10:28]Abha.

[00:10:29]>> All right.

[00:10:31]Okay. BEL, BHL some of the names in focus today on order wins on results, spine labs, Amir Raja so minor uptick [music] on some of those names as well.

[00:10:40]Uh let me come to you uh Venit on let's say a BHL for instance because that one's also been moving very steadily over the last few sessions.

[00:10:51]>> Yeah. So we are quite optimistic and uh you know all engine all you know all the verticals are firing pretty well. uh you know margins have you know uh reached levels which were once thought unachievable for Bale and so given all these uh facts I think uh you know Bale should continue to uh gain momentum and continue to move up ahead.

[00:11:17]All right. So, positive on bail there.

[00:11:21]IFP Industries 7% higher on that one.

[00:11:24]Concor is down on earnings. So, that one's reacting negatively at this point of time. We've got a Sudarian chemical that's moving as well. Three three and a half% [music] uh higher on that one. So, just pinpointing some of the movers uh in the market right now and largely [music] uh you know several earnings driven reactions as well uh coming in. We've got um Techno Electric that's on the downside. Suprajet on the upside.