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PRE MARKET REPORT
The domestic equity indices, Sensex and Nifty 50, are expected to open on a cautious note Wednesday after a sharp slump in the previous session.
Asian markets traded lower on Wednesday tracking mixed trends on Wall Street overnight and as investors gauged key economic data from Japan.
Japan’s Nikkei 225 fell 0.26%, while the Topix declined 0.15%. Hong Kong’s Hang Seng index futures indicated a stronger open.
The US stock market ended mixed on Tuesday with the S&P 500 rising to a record high close for the third straight session.
The S&P 500 rose 0.29%, while the Nasdaq gained 0.43%.The Dow Jones Industrial Average ended 0.25% lower.
STOCKS TODAY
JSW Energy: The power-producing company has clocked 28.8 percent on-year growth in consolidated net profit at Rs 231.3 crore for the quarter ended December FY24, backed by robust operating performance and a fall in fuel costs. Revenue from operations increased by 13.1 percent YoY to Rs 2,542.8 crore during the quarter.
Havells India: The electric equipment products manufacturer has registered a 1.4 percent on-year growth in net profit at Rs 287.9 crore for the quarter ended December FY24, with weak operating numbers. Revenue from operations grew by 6.8 percent year-on-year to Rs 4,400.6 crore for the quarter.
Pidilite Industries: The adhesives, sealants, and construction chemicals manufacturer has recorded a massive 66 percent on-year growth in consolidated profit at Rs 511 crore for the quarter ended December FY24, backed by robust operating numbers. Revenue from operations grew by 4.4 percent YoY to Rs 3,130 crore for the quarter.
United Spirits: The beverage alcohol company has recorded 63.5 percent on-year growth in consolidated net profit at Rs 350.2 crore for the quarter ended December FY24, driven by healthy operating margin performance. Consolidated revenue from operations in Q3 FY24 grew by 8 percent to Rs 3,002 crore compared to the year-ago period.
Mahindra & Mahindra Financial Services: The non-banking finance company has received approval from the board to issue secured NCDs worth Rs 3,000 crore on a private placement basis. The issue included the base issue size of up to Rs 500 crore and the green shoe of up to Rs 2,500 crore, at a face value of Rs 1 lakh per debenture.
Lupin: The pharma company has received tentative approval from the United States Food and Drug Administration (US FDA) for its abbreviated new drug application for Rivaroxaban tablets USP, 2.5 mg, 10 mg, 15 mg, and 20 mg, to market in the US. Rivaroxaban tablets, a generic equivalent of Xarelto tablets from Janssen Pharmaceuticals, Inc., had estimated annual sales of $8,249 million in the US.
AU Small Finance Bank: The Competition Commission of India has approved the amalgamation of Fincare Small Finance Bank into and with AU Small Finance Bank. The said amalgamation is subject to the approval of the Reserve Bank of India.
Results on January 24: Bajaj Auto, Tata Steel, Tech Mahindra, TVS Motor Company, Canara Bank, DLF, Indian Oil Corporation, Aarti Drugs, Balkrishna Industries, Bharat Dynamics, Birlasoft, CARE Ratings, Ceat, Chalet Hotels, CMS Info Systems, Container Corporation of India, Dalmia Bharat, DCB Bank, Exide Industries, Indian Bank, Indian Overseas Bank, Kolte-Patil Developers, Laurus Labs, Motilal Oswal Financial Services, PNB Housing Finance, Quick Heal Technologies, RailTel Corporation of India, Rainbow Children’s Medicare, UCO Bank, and Ujjivan Small Finance Bank will be in focus ahead of releasing quarterly earnings today.