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PRE-MARKET REPORT
The domestic equity market indices, Sensex and Nifty 50, are expected to open on a cautious note on Thursday following mixed cues from global markets.
Gift Nifty was trading around the 25,020 level, a discount of nearly 10 points from the Nifty futures’ previous close, indicating a tepid start for the Indian stock market indices.
The US stock market ended higher on Wednesday led by financial stocks, with the Dow Jones Industrial Average closing at a record high.
The Dow Jones rallied 337.28 points, or 0.79%, to 43,077.70, while the S&P 500 gained 27.21 points, or 0.47%, to 5,842.47. The Nasdaq Composite ended 51.49 points, or 0.28%, higher at 18,367.08.
Asian markets traded mixed following overnight gains on Wall Street. Japan’s Nikkei 225 was flat, while the Topix rose 0.34%. South Korea’s Kospi gained 0.1%, and the Kosdaq eased 0.25%. Hong Kong Hang Seng index futures indicated a higher opening.
STOCKS TODAY
Oriana Power: The company has received a new contract worth Rs 375 crore for the construction of a 75 MW (AC) solar power plant from Maharashtra State Electricity Distribution Company. The project involves the implementation of feeder-level solarisation under Component C of the PM-KUSUM Scheme, including land and transmission lines.
Bikaji Foods International: The company’s subsidiary, Bikaji Foods Retail, will make a strategic investment of up to Rs 131.01 crore in Hazelnut Factory Food Products for the acquisition of its 53.02% stake in tranches. This acquisition is part of the company’s overall strategy to develop and expand its quick service restaurant (QSR) business vertical.
Ircon International: The company has signed a Memorandum of Understanding (MoU) with Patel Engineering for collaboration and cooperation to jointly execute mutually beneficial business opportunities in various infrastructure projects in India and overseas.
Welspun Corp: The company’s subsidiary, Sintex-BAPL, has completed the acquisition of a 100% stake in Weetek Plastic from the current shareholders. Following the acquisition, Weetek Plastic becomes the company’s wholly owned step-down subsidiary. Weetek Plastic manufactures plastic pipes, fittings, and water storage tanks with a combined capacity of 19 KMPTA in Raipur, Chhattisgarh.
Oberoi Realty: The board has approved the issuance of non-convertible debentures worth up to Rs 1,500 crore on a private placement basis. Additionally, it plans to launch a residential project named Jardin at Oberoi Garden City, Thane, on October 18.
Tata Elxsi: The design and technology services company has launched Coalesce, powered by the Snapdragon Spaces XR platform from Qualcomm Technologies Inc. Coalesce is an XR-based immersive collaboration solution that integrates spatial computing, digital twins, and simulations.