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PRE-MARKET REPORT
The Indian equity market indices, Sensex and Nifty 50, are expected to open flat on Tuesday tracking a largely positive momentum in the global peers.
Gift Nifty was trading around 24,387 level, a premium of 7 points from the Nifty futures’ previous close, indicating a flat start for the Indian stock market indices.
The US stock market ended mostly higher on Monday, with the S&P 500 and Nasdaq notching record-high closes, ahead of the fresh inflation data and commentary by the Fed Chair Powell.
The Dow Jones Industrial Average eased 0.08% to 39,344.79, while the S&P 500 rose 0.10% to 5,572.85. The Nasdaq ended 0.28% higher at 18,403.74, its fifth straight record-high close.
Asian markets traded higher on Tuesday following overnight gains on Wall Street.
Japan’s Nikkei 225 gained 1%, while the Topix rose 0.27%. South Korea’s Kospi added 0.3%. Hong Kong’s Hang Seng index futures indicated a higher opening.
STOCKS TODAY
Godrej Consumer: FMCG major Godrej Consumer has noted that operating conditions in the first quarter have remained soft, but despite the challenging environment, the India business has clocked high single-digit organic volume and mid-single-digit value growth. Overall, Godrej Consumer’s reported growth will be double-digit in volume and high-single digit in value terms, the company said in its business update released on July 8.
Adani Wilmar: Shares of Adani Wilmar rose over 4 percent on July 8 after the Adani Group firm shared its business updates for the fiscal first quarter (Q1FY25). The FMCG firm reported a 13 percent on-year growth in volumes in the June quarter. Its edible oil segment growth climbed 13 percent YoY in volumes and 10 percent YoY in value.
KPI Green Energy: Shares of KPI Green Energy Limited surged 4 percent to Rs 1,864 on July 8 afternoon following the company’s signing of a power purchase agreement (PPA) with Gujarat Urja Vikas Nigam (GUVNL) for a 50MW Solar-Wind Hybrid Power Project. KPI Green Energy develops and maintains grid-connected solar power projects, selling the power units generated from its solar plants.
Paytm: Shares of Paytm parent One 97 Communications surged over 9 percent on July 8 after CEO Vijay Shekhar Sharma announced that his goal is to make Paytm a “$100 billion company”. The company faces a significant challenge in achieving the same as its market capitalization has plummeted to approximately $3.5 billion following the central bank’s crackdown on its arm Paytm Payments Bank.
Maruti Suzuki: The company plans to utilize Indian Railways to transport 35 percent of the vehicles produced across its factories over the next 7-8 years, according to MD and CEO Hisashi Takeuchi. The share of vehicle dispatches through railways scaled to 21.5 percent in the 2023-24 fiscal from 5 percent in 2014-15.