Stock to Track: Lemon Tree Hotels shares are set to be in focus during Monday’s trading session on Dalal Street. The hospitality chain has announced the signing of a new property in Vrindavan, Uttar Pradesh.The proposed 120-room property will be managed by Carnation Hotels, a wholly-owned subsidiary of Lemon Tree Hotels.
On Friday, Lemon Tree Hotels shares—traded with the symbol LEMONTREE on shock exchanges BSE and NSE—ended weaker by Rs 6.9, or 4.8 per cent, at Rs 136.9 apiece on BSE.
How Dalal Street Fared in Last Trading Week
Domestic equity benchmark Nifty50 fell 614.9 points, or 2.6 per cent, to settle at 22,904.5 last week, largely due to a riot across shares globally as investors stared at headlines on trade tariffs after US President Donald Trump announced steep trade duties on America’s trade partners. The Nifty Metal, Oil & Gas, Realty, Pharma and Consumer Durables indices were the next, falling 2.5-7.5 per cent for the week.
Global trade war-related jitters kept investors on tenterhooks globally. China hit back hard against US President Donald Trump’s April 2 trade announcements, announcing a reciprocal duty of 34 per cent on imports from the world’s largest economy.
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Key Events to Track in Market This Week
Dalal Street is set to have an eventful trading week from April 7 to April 11, with all eyes on the MPC’s rate decision due at 10 am on Wednesday, April 9. At its last bi-monthly review, the MPC, headed by the new RBI Governor Sanjay Malhotra, announced a reduction in the repo rate after five years. Currently, the repo rate stands at 6.25 per cent. All MPC members voted unanimously to slash the key policy rate, as widely expected.
Official data on consumer inflation and industrial production in the country is due at 4 pm on Friday.
TCS—the country’s largest software service exporter—is all set to kick off the earnings season by reporting its Q4 results on April 10.
Institutional fund flows will continue to be in focus. Foreign institutional investors (FIIs) have net sold Indian shares to the tune of Rs 13,730.5 crore so far this month, though domestic institutional investors (DIIs) have made net purchases of Rs 5,632.6 crore, according to provisional exchange data.
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