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PRE-MARKET REPORT
The domestic equity market indices, Sensex and Nifty 50, are expected to open higher on Wednesday, following gains in global markets.
Gift Nifty was trading at around 23,153 levels, a premium of nearly 50 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.
The US stock market ended higher on Tuesday, with the S&P 500 and the Dow closing at their highest levels in more than a month after Donald Trump was sworn in as president.
The Dow Jones Industrial Average rallied 537.98 points, or 1.24%, to 44,025.81, while the S&P 500 surged 52.58 points, or 0.88%, to 6,049.24. The Nasdaq Composite closed 126.58 points, or 0.64%, higher at 19,756.78.
Asian markets traded higher on Wednesday following an overnight rally on Wall Street. Japan’s Nikkei 225 rose 1,38%, while the Topix gained 0.78%. South Korea’s Kospi rose 0.42%, while the Kosdaq advanced 0.8%. Hong Kong’s Hang Seng index futures indicated a lower opening.
STOCKS TODAY
JK Tyre & Industries: The International Finance Corporation has sanctioned a $100 million sustainability-linked loan to JK Tyre. The funding includes $30 million for JK Tyre & Industries and up to $70 million for Cavendish Industries (CIL), a subsidiary of JK Tyre.
Dalmia Bharat: The company’s net profit fell 75 percent to Rs 66 crore in Q3FY25 as weak cement prices hit the realizations of India’s fourth-largest cement producer. Its net profit was at Rs 266 crore in the same quarter last year. The company reported a consolidated revenue from operations of Rs 3,181 crore for the quarter ending December 31, down 11.7 percent on-year, mainly due to sluggish price growth and a weak demand environment.
RailTel Corporation: Dy. Cste Construction Ajmer Division, North Western Railway has awarded the contract to the company for signaling amounting to Rs 46,79,16,427, which is to be executed by July 20, 2026. Earlier this month, the company received the work order from HPSES for HPSES-(SS) HQ-Language Lab amounting to Rs 14,63,00,000 and received the work order from Bharat Coking Coal for works amounting to Rs 78,43,30,164.
Aditya Birla Fashion and Retail: The company announced the completion of fundraising through a qualified institutional placement (QIP) of equity shares amounting to Rs 1,860 crore. The Board has approved the allotment of 6.85 crore equity shares to eligible qualified institutional buyers (including Amansa Holdings, SBI Life Insurance, Quant Mutual Fund, HDFC Life Insurance, BofA Securities Europe SA, Maybank Securities, and Aditya Birla Sun Life Trustee) at Rs 271.3 per share.
Wendt (India): Wendt GmbH is going to divest its entire ownership interest of 37.5% in the company through one or more transactions in the secondary market. Further, the company has entered into a Trademark Assignment Agreement with Wendt GmbH to acquire the absolute ownership of the ‘Wendt’ brand and trademarks, with over 60 registrations in 40 countries, owned by Wendt GmbH, for 3.8 million euros.
Neuland Laboratories: The Board has approved a capital expenditure of Rs 342 crore to increase the peptide synthesiser reactor capacity from 0.5 KL to 6.37 KL in Unit-1 and build an additional 52 KL capacity in Unit-3.