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PRE-MARKET REPORT
The domestic equity market indices, Sensex and Nifty 50, are expected to open on a muted note Wednesday tracking mixed cues from global markets.
Gift Nifty was trading around the 24,920 level, a discount of nearly 15 points from the Nifty futures’ previous close, indicating a muted start for the Indian stock market indices.
The US stock market ended mixed on Tuesday weighed down by selling in chip and mega-cap stocks.
The Dow Jones Industrial Average gained 203.40 points, or 0.5%, to 40,743.33, while the S&P 500 fell 27.10 points, or 0.5%, to 5,436.44. The Nasdaq Composite ended 222.78 points, or 1.28%, lower at 17,147.42.
Asian markets traded mixed on Wednesday ahead of the Bank of Japan’s interest rate decision and China’s business activity data.
Japan’s Nikkei 225 declined 0.84%, while the Topix fell 0.4%. South Korea’s Kospi gained 0.48%, while the Kosdaq was flat. Hong Kong Hang Seng index futures indicated a higher opening.
STOCKS TODAY
Infosys: Infosys has partnered with TDC Net, a Danish infrastructure provider, to transform TDC Net into a customer-centric technology company. The collaboration aims to modernize TDC Net’s IT infrastructure, enhance customer experience, and optimize service costs. Infosys will implement AI-driven hyper-automation and consolidate TDC Net’s IT systems to boost productivity.
Torrent Power: Torrent Power reported an 88 percent YoY increase in first-quarter profit. Consolidated net profit rose to Rs 972 crore in the April-June quarter, from Rs 517 crore in the previous fiscal year. Revenue from operations rose 23.3 percent to Rs 9,034 crore.
GAIL: GAIL reported a 93 percent YoY increase in net profit at Rs 2,723.98 crore in the first quarter of FY25, compared to Rs 1,412 crore in the previous fiscal year. Revenue from operations grew 5 percent YoY to Rs 34,063.26 crore, up from Rs 32,495.07 crore posted in the previous fiscal year.
Varun Beverages: Varun Beverages’ net profit for Q2FY24 grew 26 percent to Rs 1,253 crore for the June quarter. The company had posted a net profit of Rs 994 crore in the year-ago period. Revenue from operations increased 29 percent to Rs 7,333.6 crore for the same quarter, up from Rs 5,699.7 crore in Q1FY24.
Tata Consumer: Tata Consumer Products reported a consolidated net profit of Rs 290 crore for Q1FY25, a fall of 8.5 percent YoY from Rs 317 crore in the year-ago period. Revenue increased 16 percent to Rs 4,352 crore in the three months ended June 30, compared to Rs 3,741 crore in the year-ago period.
Dixon Technologies: Dixon Technologies has reported a 109 percent YoY increase in consolidated net profit at Rs 140 crore for the June quarter. The company reported a 101 percent rise in consolidated revenue to Rs 6,580 crore, up from Rs 3,272 crore in the year-ago period.