PRE MARKET
GIFT Nifty was trading at 23,803 around 8 am on Thursday, up 138 points or 0.58 percent, indicating a firm opening for domestic benchmark indices amid strong global cues.
Crude oil prices rebounded modestly in early Thursday trade after falling more than 5.5 percent overnight on hopes of progress in US-Iran negotiations. Brent crude rose 0.77 percent to $105.83 a barrel, while WTI crude climbed nearly 1 percent to $99.23.
US markets rebounded sharply overnight after a three-day selloff. The Dow Jones rose 1.31 percent, while the S&P 500 gained 1.08 percent and the Nasdaq Composite climbed 1.55 percent, led by technology and chip stocks.
Asian equities traded firmly higher on Thursday morning as easing geopolitical concerns boosted risk appetite.
South Korea’s KOSPI jumped over 4 percent, while Japan’s Nikkei rose 1.9 percent and MSCI’s Asia-Pacific index climbed 1.2 percent.
STOCKS IN NEWS
Aditya Birla Capital
The financial services company announced that its board has cleared a ₹4,000 crore preferential equity share issue to promoter Grasim Industries, Suryaja Investments Pte. – an Aditya Birla Group firm – and International Finance Corporation, aimed at supporting growth and bolstering its capital base.
Dr Reddy’s Lab
The pharmaceutical company announced the launch of its oral semaglutide biosimilar in India under the brand name Obeda for the treatment of type 2 diabetes mellitus.
Lenskart
Omnichannel eyewear retailer Lenskart on Wednesday posted a 9% year-on-year decline in consolidated net profit to ₹200 crore for the fourth quarter.
Ola Electric
The company reported a net loss of ₹500 crore ($51.6 million) in the January–March quarter, improving from a loss of ₹870 crore recorded in the same period last year.
Rail Vikas Nigam
The company has secured the position of the lowest bidder for a ₹164.18 crore project awarded by East Coast Railway.
Source:Mint