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PRE-MARKET REPORT
The domestic equity benchmark indices Sensex and Nifty 50 are expected to open higher on Tuesday, following the upbeat trend in the global markets after Donald Trump was sworn in as US President.
Gift Nifty was trading at around 23,410 levels, a premium of nearly 10 points from the Nifty futures’ previous close, indicating a muted start for the Indian stock market indices.
US stock markets were closed on Monday, January 20, for the Martin Luther King Jr. Day holiday. However, after President Donald Trump was sworn in for his second term, US stock futures gained 0.5%. Futures tied to the S&P 500 rose 0.5%, while Nasdaq 100 futures rallied 0.6%. Dow Jones Industrial Average futures gained 0.5%.
Asian markets traded higher on Tuesday as investors await clarity on US President Donald Trump’s policies.
Japan’s Nikkei 225 rose 0.52%, while the Topix gained 0.33%. South Korea’s Kospi rallied 0.97%, while the Kosdaq advanced 0.62%. Hong Kong’s Hang Seng index futures indicated a stronger opening.
STOCKS TODAY
Cipla: The United States Food and Drug Administration (USFDA) inspected the manufacturing facility of the company’s subsidiary, Medispray Laboratories, in Goa, from January 14 to 20. After the inspection concluded, Medispray received one observation in Form 483 from the USFDA.
Venus Remedies: The company has announced the successful renewal of its European Good Manufacturing Practices (EU GMP) Certification by Infarmed, the National Authority of Medicines and Health Products in Portugal. This covers the manufacturing facility for cephalosporin, carbapenem, and oncology formulations.
Landmark Cars: The luxury auto retailer has received a letter of intent from JSW MG Motor India to open new MG Select dealerships in Ahmedabad and Kolkata. At launch, the company will feature two models: the MG Cyberster and the MG M9 EV, with more models to follow later. Sales are expected to begin by May 2025. These dealerships will be established by the company’s subsidiary, Aeromark Cars.
REC: After receiving the necessary consideration, the company’s subsidiary, REC Power Development & Consultancy (RECPDCL), has transferred its entire shareholding in Rajasthan Part I Power Transmission at par value, along with all its assets and liabilities, to Adani Energy Solutions. The consideration includes a professional fee of Rs 15 crore and reimbursement of expenses.
Prakash Industries: The company has started mining operations at the Bhaskarpara commercial coal mine after receiving permission from the Collector (Mining Branch), Chhattisgarh. It expects coal extraction to begin next month.
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