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April 16, 2021
Downward revision of GDP growth by economists adds to market jitters
After a volatile session, markets are likely to see positive beginning, thanks to global cues. The SGX Nifty at 14,630 (8 am IST) indicates a gap-up opening of about 40 points for the Nifty. However, most Asian markets are ruling mixed with little change, though the US market ended at a record high overnight. The Dow closed at over 34,000 at 34,036 while the S&P 500 and tech-heavy Nasdaq jumped over 1 per cent each.
Rising number of Covid-19 cases and harsher restrictions across various States spoiled the sentiments. Analysts expect the market to be cautious going forward as already economists are revising down India’s economic growth.
Read more about Market Ahead Podcast, April 16: Top factors that could guide markets today on Business Standard. Mindtree, Den Networks, GTPL Hathway, MMTC, and AAR Commercial Company are scheduled to release quarterly numbers today
The accepted cost of project is Rs 333.625 crore, Ashoka Buildcon said.
Shares of the Mumbai-based construction company - Ashoka Buildcon - rose as much as 10.73 per cent to hit an intraday high of Rs 98.50 after the company post market hours on Thursday informed exchanges that it secured a contract from Gujarat Rail Infrastructure Development Corporation for gauge conversion and electrification. Ashoka Buildcon shares opened for trading at Rs 92.50 on the BSE. On National Stock Exchange, Ashoka Buildcon shares rose as much as 11.14 per cent.
Ashoka Buildcon received a letter of award from Gujarat Rail Infrastructure Development Corporation Limited (G-RIDE) for gauge conversion of Bechraji-Ranuj section for total length of 38.15 kilometres from metre gauge to broad gauge.
Read more about Stocks to watch: Wipro, Mindtree, National Fertilizers, Ashoka Buildcon on Business Standard. Government has issued a request for proposals to engage legal advisors, merchant bankers and selling brokers to sell a 20 per cent stake in National Fertilizers via OFS