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PRE-MARKET REPORT
The domestic equity benchmark indices Sensex and Nifty 50 are likely to open flat on Friday, following mixed global market cues.
Gift Nifty was trading around 24,456 level, a premium of nearly 5 points from the Nifty futures’ previous close, indicating a flat start for the Indian stock market indices.
The US stock market ended mixed on Thursday, with the Nasdaq and the S&P 500 closing higher, led by a decline in Treasury yields from a three-month high, and Tesla’s blowout earnings.
The Dow Jones Industrial Average declined 140.59 points, or 0.33%, to 42,374.36, while the S&P 500 rose 12.44 points, or 0.21%, to 5,809.86. The Nasdaq Composite ended 138.83 points, or 0.76%, higher at 18,415.49.
Asian markets were mixed on Friday ahead of Japan’s general election over the weekend. Japan’s Nikkei 225 fell 0.52%, while the Topix dropped 0.41%. South Korea’s Kospi surged 1%, and the Kosdaq rose 0.42%. Hong Kong’s Hang Seng index futures indicated a slightly weaker open.
STOCKS TODAY
ITC: The company reported its Q2FY25 results on Thursday, October 24, with a net profit increase of 3 percent, reaching ₹5,078.3 crore, compared to ₹4,927 crore in the same quarter last year. The tobacco-to-hotels conglomerate also reported a 17 percent rise in revenue from operations for the second quarter of the current fiscal, with ₹19,327.8 crore, up from ₹16,550 crore in the year-ago period.
NTPC Limited: The state-owned power giant, posted a 14 percent increase in consolidated net profit for the September quarter, with ₹5,380.25 crore compared to ₹4,726.40 crore in the same period last year. However, its total income saw a slight decline, falling to ₹45,197.77 crore from ₹45,384.64 crore in the year-ago period. The company’s board also approved an interim dividend of ₹2.50 per equity share for FY25, to be dispatched on November 18, 2024.
JSW Energy: The company reported a marginal increase in consolidated net profit for the September 2024 quarter, with a Profit After Tax (PAT) of ₹853 crore, compared to ₹850 crore in the same period last year. The company’s total revenue rose by 2 percent year-on-year, reaching ₹3,459 crore, up from ₹3,387 crore in the corresponding quarter of the previous year.
Jubilant Pharmova: On October 23, Jubilant Pharma Holdings Inc., USA, a wholly-owned subsidiary of Jubilant Pharmova, voluntarily prepaid a $25 million term loan, equivalent to Rs 210 crore, from its internal accruals.
Kansai Nerolac Paints: The company has entered into definitive agreements for the conveyance or assignment of the lease with Aethon Developers (a subsidiary of Runwal Developers) for the sale of its land parcel at Lower Parel, Mumbai, together with the building thereon, for Rs 726 crore.
DCB Bank: The Bank posted a 23 percent increase in net profit for the September 2024 quarter, with a profit after tax of ₹155 crore, compared to ₹127 crore in the same period last year. The bank’s net interest income grew by 7 percent year-on-year to ₹509 crore, while other income nearly doubled to ₹200 crore, driven by higher fee-based income and treasury gains.