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PRE-MARKET REPORT
The domestic equity market is expected to open flat with a negative bias on Friday tracking mixed cues from global markets.
Gift Nifty was trading around the 24,360 level, a discount of nearly 17 points from the Nifty futures’ previous close, indicating a muted start for the Indian stock market indices.
US stock markets were closed on Thursday for the Independence Day holiday. US stock futures traded flat. Nasdaq 100 futures fell 0.1%, while S&P 500 futures were flat-to-lower. Dow Jones Industrial Average futures traded 0.05% higher.
Asian markets traded higher on Friday, with Japan’s key benchmark indices hitting new highs.
Japan’s Nikkei 225 gained 0.46%, while the Topix rose 0.06% to a fresh record high. South Korea’s Kospi added 0.45% and the Kosdaq gained 0.25%. Hong Kong Hang Seng index futures indicated a lower opening.
STOCKS TODAY
Ahluwalia Contracts: The company has received an order worth Rs 572 crore from the Airports Authority Of India at Darbhanga Airport, Bihar. The order involves the construction of a new terminal building, allied structures, and external development works on an engineering procurement and construction (EPC) model.
Raymond: The company announced the vertical demerger of its real estate business into its wholly owned subsidiary, Raymond Realty (RRL). After the completion of this demerger, Raymond and Raymond Realty will operate as separate listed entities within the Raymond Group, pending all statutory approvals. According to the scheme of arrangement, each Raymond shareholder will receive 1 share of RRL for every 1 share held in Raymond.
Ircon International: The company has received a LOA for the work of design, supply, installation, testing, and commissioning of broad gauge ballastless track (BLT), supply of ballast, and installation of track (excluding supply of rails and track sleepers) in Uttarakhand, from Rail Vikas Nigam (RVNL).
Krsnaa Diagnostics: The Bhabha Atomic Research Centre, Government of India, has awarded the tender to the company for providing tele-reporting services for radiology at the BARC Hospital, Mumbai.
Mahindra Lifespace Developers: The Mahindra Group company is the preferred partner for the redevelopment of seven residential societies in Borivali West, Mumbai. This project offers an estimated gross development value of approximately Rs 1,800 crore.
CG Power & Industrial Solutions: The company has entered into a ‘Development Agreement’ with Skybound Realty, a K Raheja Corp group company, for the joint development of property CG House in Mumbai.