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PRE-MARKET REPORT
The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open lower on Friday, following a sharp sell-off in global markets.
Gift Nifty was trading around 22,537, a discount of nearly 146 points from the Nifty futures’ previous close, indicating a gap-down start for the Indian stock market indices.
The US stock market ended lower on Thursday, weighed down by a slump in chipmaker Nvidia shares and data showing a cooling US economy.
The Dow Jones Industrial Average fell 0.45% to 43,239.50, while the S&P 500 declined 1.59% to end at 5,861.57. The Nasdaq closed 2.78% lower at 18,544.42.
Asian markets traded lower on Friday, following heavy selling on Wall Street overnight. Japan’s Nikkei 225 declined 0.9%, and the Topix fell 0.68%. South Korea’s Kospi dropped 1.54%, while the Kosdaq plunged 1.69%. Hong Kong’s Hang Seng Index Futures indicated a slightly weaker opening.
STOCKS TODAY
Tata Power: TP Solar Ltd, Tata Power’s solar manufacturing subsidiary, has secured a contract from the Solar Energy Corporation of India Ltd (SECI) for the supply of 292.5 MWp DCR (Domestic Content Requirement) solar modules, valued at ₹632 crore.
Rail Vikas Nigam Ltd (RVNL): RVNL has received a letter of acceptance for a project worth ₹135.66 crore from Central Railway. The project involves the design, supply, erection, testing, and commissioning of 132/55 KV traction substations, sectioning posts (SPs), and sub-sectioning posts (SSPs) in a 2 x 25 KV traction system (Scott-connected transformer) for the Bhusaval-Khandwa section of Central Railway, to meet the 3000 MT loading target on an EPC mode.
Transrail Lighting: Transrail Lighting has secured new orders worth ₹2,752 crore, primarily in the transmission and distribution business. The company’s year-to-date (YTD) order inflows with these orders have crossed ₹7,400 crore.
GE Power India: The company has received an additional contract worth ₹273.5 crore from Greenko KA01 IREP. The orders involve engineering, manufacturing, procurement, supply, installation, and testing of electromechanical equipment for an additional 320 MW unit at the Saundatti PSP.
Mankind Pharma: The National Company Law Tribunal (NCLT), New Delhi, has approved the Scheme of Arrangement for the amalgamation of Shree Jee Laboratory, JPR Labs, and Jaspack Industries with Mankind Pharma.
Schaeffler India: Schaeffler India’s net profit for the fourth quarter that ended December 2024 rose 13.2% to ₹237.3 crore from ₹209.6 crore, while revenue grew 14% to ₹2,136 crore from ₹1,874.6 crore, YoY. The company declared a dividend of ₹28 per share.