Get App
PRE-MARKET REPORT
The domestic equity market is expected to open high on Friday following gains in global peers.
Gift Nifty was trading around the 22,900 level, a premium of nearly 125 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.
The US stock market ended higher on Thursday after more dovish-than-expected interest rate guidance by the US Federal Reserve.
The Dow Jones Industrial Average rallied 322.37 points, or 0.85%, to 38,225.66, while the S&P 500 rose 45.81 points, or 0.91%, to 5,064.2. The Nasdaq Composite ended 235.48 points, or 1.51%, higher at 15,840.96.
Asian markets traded higher on Friday tracking overnight gains on Wall Street ahead of key US employment data. Stock markets in Japan and mainland China were closed for public holidays.
South Korea’s Kospi gained 0.60%, while the Kosdaq rose 0.77%. Hong Kong’s Hang Seng index futures indicated a higher opening.
STOCKS TODAY
Coforge: The IT services company recorded a consolidated net profit of Rs 229.2 crore for the March FY24 quarter, falling 5.6 percent compared to the previous quarter, impacted by weak operating numbers. Revenue from operations grew by 1.5 percent sequentially to Rs 2,358.5 crore for the quarter. Meanwhile, the board has declared an interim dividend of Rs 19 per share.
Coal India: The country’s largest coal mining firm has recorded consolidated net profit at Rs 8,640.5 crore for the quarter ended March FY24, rising sharply by 25.8 percent over a year-ago period despite weak topline, aided by strong operating numbers with a fall in input costs and employee expenses. Revenue from operations fell 1.9 percent year over year to Rs 37,410.4 crore for the quarter. The board has recommended a final dividend of Rs. 5 per share.
Wipro: Independent Health, Western New York’s Medicare Advantage Plan, has selected Wipro to implement its Medicare Prescription Payment Plan platform for the upcoming open enrollment period. The platform will help Independent Health streamline the payment process to seamlessly integrate these new provisions, simplifying prescription cost management for Medicare recipients in Western New York.
KEI Industries: The electrical wires and cables manufacturer has registered a 22 percent on-year growth in consolidated net profit at Rs 168.6 crore for the quarter ended March FY24, with healthy growth in topline and operating numbers. Revenue from operations grew 18.8 percent year-on-year to Rs 2,319.3 crore during the quarter.
CIE Automotive India: The automotive component manufacturer has reported a consolidated net profit of Rs 230.2 crore for the March FY24 quarter, rising 4.5 percent over the same period in the previous fiscal year despite weak topline and operating numbers, supported by higher other income. Revenue from operations declined 0.5 percent year over year to Rs 2,426.8 crore for the quarter.
Ugro Capital: The non-banking finance company recorded a net profit of Rs 32.7 crore for the quarter ended March FY24, growing 132.8 percent over the year-ago period. Total income for the quarter, at Rs 330.4 crore, increased 52.1 percent over the same period in the previous fiscal. Meanwhile, the company has received approval from the board for the acquisition of MyShubhLife, the embedded finance fintech platform, for Rs 45 crore.
Voltamp Transformers: The oil-filled power and distribution transformer maker has recorded a net profit of Rs 93.5 crore for the March FY24 quarter, rising 22.1 percent over the corresponding period of the previous fiscal year despite a weak operating margin and higher other income and topline. Revenue from operations soared 14.6 percent year over year to Rs 504.2 crore for the quarter.