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PRE-MARKET REPORT
The domestic equity market benchmark indices, Sensex and Nifty 50, are expected to open on a tepid note on Tuesday, following losses in global markets.
Gift Nifty was trading around 22,588 level, a discount of nearly 25 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
The US stock market ended mixed on Monday, with the S&P 500 and Nasdaq closing lower for the third straight session amid selling in technology stocks.
The Dow Jones Industrial Average rose 33.19 points, or 0.08%, to 43,461.21, while the S&P 500 declined 29.88 points, or 0.50%, to 5,983.25. The Nasdaq ended 237.08 points, or 1.21%, lower at 19,286.93.
Asian markets traded lower on Tuesday following an overnight fall on Wall Street as Trump tariffs dented sentiment. Japan’s Nikkei 225 dropped 1.34%, while the Topix declined 0.72%. South Korea’s Kospi slipped 0.5% and the Kosdaq fell 0.44%. Hong Kong’s Hang Seng index futures indicated a lower opening.
STOCKS TODAY
NTPC: The company, along with its subsidiary NTPC Green Energy, has entered into multiple MoUs with the Madhya Pradesh government to invest over ₹2 lakh crore in the state. These investments will focus on renewable energy projects, including solar, wind, pumped hydro, and other carbon-neutral energy sources.
UPL: The company announced that its step-down subsidiary, UPL Holdings Brazil BV, has invested an additional $53.85 million in Sinova Inovações Agrícolas S.A., an associate entity of UPL Brazil. UPL Holdings Brazil BV’s stake in Sinova has risen from 38.96% to 49.97% following this investment.
Nazara Technologies: The company has purchased an additional 6,51,204 equity shares, equivalent to a 38.57% stake, in Funky Monkeys from its current shareholders for ₹28.7 crore. As a result, the company’s total stake in Funky Monkeys has increased to 60%, making it a subsidiary.
LIC: The state-owned insurance giant, Life Insurance Corporation (LIC), has received a penalty notice from GST authorities. The notice, which also includes interest, amounts to a total of ₹57.3 crore for the financial year 2021.
Manappuram Finance: Manappuram Finance stated that it consistently evaluates strategic and growth opportunities following reports of a possible $1 billion deal with Bain Capital.