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PRE-MARKET REPORT
The domestic stock market indices, Sensex and Nifty 50, are expected to open on a muted note Friday tracking weakness in global markets.
Gift Nifty was trading around 24,830 level, a discount of nearly 10 points from the Nifty futures’ previous close, indicating a mildly negative start for the Indian stock market indices.
The US stock market ended lower on Thursday weighed down by selling in technology shares as Treasury yields rose and global central bank officials convened at the Jackson Hole Economic Symposium.
The Dow Jones Industrial Average declined 177.71 points, or 0.43%, to 40,712.78, while the S&P 500 dropped 50.21 points, or 0.89%, to 5,570.64. The Nasdaq Composite ended 299.63 points, or 1.67%, lower at 17,619.35.
Asian markets traded mixed on Friday following a sell-off on Wall Street overnight and the release of Japan’s inflation data.
Japan’s Nikkei rose 0.2%, while the Topix climbed 0.32%. Hong Kong Hang Seng index futures indicated a lower opening.
STOCKS TODAY
Bharti Airtel: Following the company’s appeal to the Commissioner (Appeals), Central Goods and Services Tax Appellate Authority, Delhi, the said Appellate Authority has passed an appeal order reducing the GST demand to Rs 194 crore. The total demand originally assessed by the GST Department was Rs 604.66 crore.
Bandhan Bank: The bank has launched “Avni,” an exclusive savings account for women. Additionally, it has launched an enterprise-wide loyalty program called Bandhan Bank Delights, where customers can earn reward points known as “delight points.” These points can be redeemed for purchases, along with exclusive offers.
Adani Power: The National Company Law Tribunal, Hyderabad, has approved the company’s resolution plan for the acquisition of Lanco Amarkantak Power, which is undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code. The upfront payment for the acquisition is Rs 4,101 crore.
Jain Irrigation Systems: The company has developed a Tissue Culture protocol for coffee varieties and has signed an MoU with the Coffee Board of India for the commercial release of advanced high-quality, disease-resistant coffee plants to growers.
PNB Housing Finance: The Government of Singapore bought an additional 0.6% stake in the housing finance company at an average price of Rs 866.05 per share. However, Asia Opportunities V (Mauritius) sold a 3% stake in the company at an average price of Rs 866.7 per share.
Bharat Forge: The company will invest Rs 105.45 crore in its subsidiary Kalyani Powertrain by subscribing to 10,54,50,000 equity shares. Kalyani Powertrain is engaged in the EV and e-mobility solutions space.