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PRE-MARKET REPORT
The domestic equity indices are expected to open higher on Thursday following positive global market cues. Further, Gift NIfty was also trading way above the previous close indicating a Gap-up opening for the Indian stock indices.
US stock market indices recorded all-time closing highs on Wednesday after the Federal Reserve kept interest rates unchanged.
The Dow Jones Industrial Average jumped 401.37 points, or 1.03%, to 39,512.13, while the S&P 500 rallied 46.11 points, or 0.89%, to 5,224.62. The Nasdaq Composite ended 202.62 points, or 1.25%, higher at 16,369.41.
Asian markets traded higher tracking an overnight rally on Wall Street after the US Fed’s monetary policy outcome.
Japan’s Nikkei 225 jumped 1.57%, hitting a new all-time high, while the Topix touched a new record high, gaining 1.41%. South Korea’s Kospi surged 1.52% to hit its highest level since April 2022, while the Kosdaq rose 1.48%. Hong Kong’s Hang Seng index futures indicated a higher opening.
STOCKS TODAY
Wipro: The technology services and consulting company said Anne-Marie (Annie) Rowland has been appointed as the Chief Executive Officer of Capco, with effect from April 1, 2024. Annie is currently the managing partner of Capco’s business in the United Kingdom and Ireland and a member of Capco’s Global Leadership Team. As CEO of Capco, Rowland will become a member of Wipro’s Executive Committee (WEC).
Rail Vikas Nigam: Rail Vikas Nigam has emerged as the lowest bidder for an electric traction system project worth Rs 167.28 crore of SER HQ-Electrical/South Eastern Railway. As per the project, the company will do the design, supply, erection, testing, and commissioning for the upgrade of the electric traction system for the Rajkharsawan-Nayagarh-Bolani section of the Chakradharpur division of South Eastern Railway to meet the 3,000 MT loading target.
Bajaj Finance: The company has re-designated Anup Kumar Saha as Deputy Managing Director with effect from April 1, 2024. It has also announced the reappointment of Anami N. Roy and Naushad Darius Forbes as independent directors for a second term of five consecutive years, with effect from April 1.
Crompton Greaves Consumer Electricals: The company has received a solar water pumping system order under the PM-KUSUM scheme for Haryana state. The order sanctioned by the New and Renewable Energy Department of Haryana and HAREDA includes the supply, installation, and commissioning of solar photovoltaic water pumping systems, which are worth over Rs 9 crore. Total orders received till now from HAREDA stand at Rs 65.6 crore.
Cyient: The IT services company said Infotech HAL has applied for the initiation of the corporate insolvency resolution process under the Insolvency and Bankruptcy Code (IBC) before the National Company Law Tribunal, Bangalore. Infotech HAL is a 50:50 joint venture of Cyient Limited with HAL.
ITC: Pushpa Subrahmanyam, a retired IAS Officer with administrative experience of over 36 years, has been appointed as an independent director of the company for five years with effect from April 2. Further, Atul Singh is appointed as a non-executive director of the company for three years, with effect from April 2. Atul Singh represents Tobacco Manufacturers (India), a subsidiary of British American Tobacco PLC.
JSW Infrastructure: The company said the total cargo handled on a consolidated basis has crossed 100 MMT for the first time. This excludes acquisitions made by JSW Infrastructure in the current financial year and cargo handled on an O&M basis.