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PRE-MARKET REPORT
The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open on a muted note and remain volatile on Tuesday amid cautiousness over weak global market cues.
Gift Nifty was trading around 24,800 level, a premium of nearly 10 points from the Nifty futures’ previous close, indicating a flat start for the Indian stock market indices.
The US stock market ended mixed on Monday as the rise in Treasury yields weighed. The Dow Jones Industrial Average declined 344.31 points, or 0.80%, to 42,931.60, while the S&P 500 fell 10.69 points, or 0.18%, to 5,853.98. The Nasdaq Composite ended 50.45 points, or 0.27%, higher at 18,540.01
Asian markets traded lower on Tuesday following a mixed session overnight on Wall Street. Japan’s Nikkei 225 fell 1.34%, while the Topix declined 1.04%. South Korea’s Kospi dropped 1.21% and Kosdaq plunged 2.11%.
The blue-chip CSI300 Index slipped 0.3%, while the Shanghai Composite Index fell 0.1%. Hong Kong benchmark Hang Seng was down 0.2%.
STOCKS TODAY
Eicher Motors: Royal Enfield has commenced operations of its manufacturing unit (Category 2) and flagship showroom in Bangladesh. The company has set up business in collaboration with IFAD Motors in Bangladesh. The new manufacturing facility is Royal Enfield’s sixth assembly unit outside India, following Nepal, Brazil, Thailand, Colombia, and Argentina.
Lemon Tree Hotels: The company has signed a License Agreement for a 72-room hotel in Kalaburagi, Karnataka. Its subsidiary, Carnation Hotels, will manage the property, which is expected to open in FY27.
Cyient DLM: It reported a 5.5% year-on-year (YoY) increase in net profit, reaching ₹15.4 crore for the second quarter ending September 30, 2024, compared to ₹14.6 crore in the corresponding period last year. According to the company’s regulatory filing, revenue from operations rose 33.4%, climbing to ₹389.4 crore from ₹291.8 crore in the same period last year.
Sona BLW Precision Forgings: The company has inaugurated its new plant in Manesar, Haryana. This is the company’s second plant for the driveline business in IMT Manesar. This plant will help cater to the growing demand for the company’s driveline products.
Ola Electric Mobility: Ola Electric has reported that 99.1% of the 10,644 complaints received from the Central Consumer Protection Authority (CCPA) have been resolved. The company has provided the requested information and clarifications in response to the Show Cause Notice from the CCPA. Ola has a robust mechanism in place to address complaints related to its vehicles.
Bajaj Housing Finance: It reported a 21% year-on-year (YoY) increase in net profit, reaching ₹545.6 crore for the second quarter ending September 30, 2024. According to the company’s regulatory filing, this is a rise from the ₹451.1 crore net profit posted in the same quarter last year. Additionally, the company’s revenue from operations also saw a 21.1% increase, amounting to ₹2,410 crore compared to ₹1,911.5 crore in the year-ago period.