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PRE-MARKET REPORT
The domestic equity indices, Sensex and Nifty 50, are expected to open higher on Monday amid mixed global market cues. Further, Gift Nifty also traded way above the previous close indicating a gap-up start for the Indian indices.
The US stock market indices ended lower on Friday after the S&P 500 and Nasdaq touched record highs during the session, as chip stocks retraced and the release of a mixed labor market.
The Dow Jones Industrial Average dropped 68.66 points, or 0.18%, to 38,722.69, while the S&P 500 declined 33.67 points, or 0.65%, to 5,123.69. The Nasdaq Composite ended 188.26 points, or 1.16%, lower at 16,085.11.
Asian share markets traded lower on Monday following losses on Wall Street. Japan’s Nikkei 225 declined 2.07%, while the Topix fell 1.33%. South Korea’s Kospi dropped 1.39%, and the Kosdaq traded marginally lower. Hong Kong’s Hang Seng index futures indicated a slightly stronger opening.
STOCKS TODAY
InterGlobe Aviation: IndiGo co-founder Rakesh Gangwal is reportedly considering selling up to a 5.8 percent stake in InterGlobe Aviation, the airline’s parent company, higher than an earlier plan of 3.3 percent, CNBC-TV18 reported, citing sources. According to the report, the proposed equity sale aims to raise nearly Rs 6,600 crore, with a floor price set at Rs 2,925 per share.
GAIL (India): The gas distribution company, Oil and Natural Gas Corporation (ONGC), and Shell Energy India (SEI) signed a tripartite Memorandum of Understanding (MoU) to explore opportunities for the import of ethane and other hydrocarbons. They will also examine the development of evacuation infrastructure at Shell Energy Terminal, Hazira.
SJVN: Subsidiary SJVN Green Energy (SGEL) has signed a power usage agreement (PUA) for 500 MW solar power and a power purchase agreement (PPA) for 100 MW solar power with Rajasthan Urja Vikas and IT Services (RUVITL).
Mahindra & Mahindra: Promoter group entity Prudential Management and Services sold 93 lakh equity shares (equivalent to 0.7 percent) in M&M at an average price of Rs 1,912.04 per share via open market transactions, valued at Rs 1,778.2 crore.
Bharti Airtel: Promoter group entity Pastel sold 4.9 crore equity shares (equivalent to 0.8 percent of paid-up equity) of the telecom operator at an average price of Rs 1,193.7 per share, amounting to Rs 5,849.13 crore.
Sonata Software: The company has announced the integration of Sonata Harmoni.AI with the Microsoft Azure AI service. This integration complements Sonata’s collaboration with Microsoft Fabric and its position as a Microsoft AI Partner Council member.
KPI Green Energy: The company has received an order to develop a 305 MW solar power project in Gujarat, out of which 175 MW is awarded by Aditya Birla Renewables subsidiary and 130 MW is awarded by ABREL (RJ) Projects. The project will be connected to the interstate transmission system (ISTS) network of the Central Transmission Utility (CTU).