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PRE MARKET REPORT
GIFT Nifty indicates a weak start for the broader index in India, with a loss of 105.50 points or 0.45 percent. The Nifty futures were trading around 23,279.
US stocks ended slightly lower on Tuesday as tariff uncertainty remained high and shares of consumer and healthcare companies eased, while upbeat bank results provided some support.
The Dow Jones Industrial Average fell 155.83 points, or 0.38%, to 40,368.96; the S&P 500 lost 9.34 points, or 0.17%, to 5,396.63; and the Nasdaq Composite lost 8.32 points, or 0.05%, to 16,823.17.
Asian markets opened lower as US equity-index futures slid as trade conflicts showed no signs of peace.
Japan’s Nikkei shares were down by 0.75 percent, Hong Kong’s Hang Seng decreased over 1.5 percent, and the Taiwanese benchmark sank around 1 percent.
STOCKS TODAY
IndusInd Bank
The bank has received a report from an external agency identifying discrepancies related to derivative deals. The report has quantified the negative impact of these derivative deals, as of June 2024, at Rs 1,979 crore. The agency has assessed an adverse impact (on a post-tax basis) of 2.27% on the bank’s net worth as of December 2024 due to these discrepancies. The bank will appropriately reflect the resultant impact in the financial statements for FY25 and will continue to take suitable steps to strengthen internal controls related to derivative accounting operations.
Swiggy
The food delivery company has signed a Memorandum of Understanding (MoU) with the Ministry of Labour & Employment to enhance gig and logistics employment opportunities on the National Career Service (NCS) portal, aiming to create over 12 lakh job opportunities over the next 2–3 years.
Vedanta
Cairn Oil & Gas has acquired 7 new blocks in the Open Acreage Licensing Policy (OALP) Round IX auction. These newly awarded blocks include 4 onshore and 3 shallow water blocks located in the hydrocarbon basins of Cambay, Saurashtra, and Mumbai. With this addition, Cairn’s portfolio now comprises 69 blocks across the country.
Oil India
The company has secured 9 blocks under OALP Round IX, adding over 51,000 sq. km to its exploration portfolio—6 blocks as the sole operator and 3 as a consortium partner. With this addition, OIL’s total exploration acreage has increased from 60,000 sq. km to 110,000 sq. km, registering an 85% growth.
Mahanagar Gas
The allocation of Administrative Price Mechanism (APM) natural gas to the company has been reduced by 18%, effective April 16, compared to the previous fortnight’s allocation. The reduced APM volume is being replaced with Well Intervention Gas (NWG). This reduction in APM gas allocation is expected to impact profitability adversely. However, the company is exploring all measures to mitigate the impact.
Source- Money Control
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