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PRE-MARKET REPORT
The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open on a cautious note Friday tracking largely weak sentiment in the global markets.
Gift Nifty was trading around 24,480 level, a premium of nearly 20 points from the Nifty futures’ previous close, indicating a flat-to-positive start for the Indian stock market indices.
The US stock market ended mixed on Thursday amid the release of key economic data and corporate earnings.
The Dow Jones Industrial Average gained 81.20 points, or 0.20%, to 39,935.07, while the S&P 500 fell 27.91 points, or 0.51%, to 5,399.22. The Nasdaq Composite ended 160.69 points, or 0.93%, lower at 17,181.72.
Asian markets traded mixed on Friday tracking similar cues from Wall Street overnight.
Japan’s Nikkei 225 fell 0.1%, while the Topix declined 0.18%. South Korea’s Kospi gained 0.63%, while Kosdaq rose 0.39%. Hong Kong’s Hang Seng index futures indicated a lower opening.
STOCKS TODAY
SJVN: The company has received a Letter of Intent for the allotment of the Darzo Lui pumped storage project from the Government of Mizoram. With an installed capacity of 2,400 MW, the estimated cost of the project upon completion is Rs 13,947.50 crore.
Mankind Pharma: The company has entered into a definitive agreement to acquire a 100% stake in Bharat Serums and Vaccines Limited (BSV) from Advent International, for an enterprise value of Rs 13,630 crore.
RBL Bank: Foreign investors Morgan Stanley Asia Singapore Pte and Societe Generale bought a 3.2% stake in the bank at an average price of Rs 228 per share. However, foreign portfolio investor Maple II B V exited RBL by selling its entire shareholding of 7.89% at an average price of Rs 228.08 per share.
Sobha: Anamudi Real Estates LLP, a privately-held arm of the Godrej family, is likely to sell a 5% stake in Sobha through block deals for $100 million, CNBC-TV18 reported citing sources. Anamudi Real Estate holds a 9.99% stake in the real estate company.
Nestle India: Nestle India’s net profit for the quarter ended June rose seven percent on-year to Rs 746.6 crore, as against Rs 698.3 crore in the corresponding quarter of the previous year. Nestle India’s miss was due to surging food inflation, combined with the scorching heatwave. During the quarter, Nestle’s domestic sales rose 4.2 percent, but volumes only rose by around one percent