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Gift Nifty was trading around 21,415 level as compared to Nifty futures’ previous close of 21,587, indicating a negative start for the Indian equity indices.
Asian markets traded mixed on Thursday tracking overnight sell-off on Wall Street.
Japan’s Nikkei 225 rose 0.29%, while the Topix gained 0.28%. Hong Kong’s Hang Seng index futures were flat.
US stock market indices ended lower on Wednesday, with the benchmark S&P 500 falling to its lowest in over a week, as Treasury yields spiked. The Dow Jones Industrial Average dropped 0.25%, while the S&P 500 fell 0.56%. The Nasdaq ended 0.59% lower.
Stocks Today
Mahindra and Mahindra: Subsidiary Mahindra Aerostructures (MASPL) and Airbus Aerostructures GmbH have signed a contract for the manufacture and delivery of metallic components for all Airbus commercial aircraft models, including the best-selling A320 family. Under the contract, MASPL will supply close to 5,000 varieties of metallic components to Airbus in Germany from its manufacturing base in India
NHPC: The Government of India will be selling a 3.5 percent stake in the power company via offer-for-sale (OFS), with a floor price of Rs 66 per share. The OFS comprises a base issue size of 2.5 percent and a green shoe option of 1 percent. OFS will open for non-retail investors on January 18 and for retail investors on January 19
IIFL Finance: The company has reported a 17.2 percent on-year decline in standalone profit at Rs 131.65 crore for the quarter ended December FY24, partly impacted by an increase in net loss on fair value changes, net loss on derecognition of financial instruments, and impairment on financial instruments. Revenue from operations jumped 17.65 percent YoY to Rs 1,158.7 crore in Q3 FY24.
RailTel Corporation of India: The state-owned railway company has received a work order amounting to Rs 82.4 crore from South Central Railway. The work order includes comprehensive ground infrastructure works for the provision of 4G LTE-R in 523 RKM of Secunderabad division in South Central Railway.
Cochin Shipyard: The company has opened a new dry dock and the international ship repair facility (ISRF) in Kochi. The new dry dock, costing Rs 1,799 crore, is set up at the existing premises of Cochin Shipyard in Kochi. The ISRF project, costing Rs 970 crore, is set up on 42 acres of leased premises of the Cochin Port Authority at Willingdon Island, Kochi.
LTIMindtree: The technology consulting and digital solutions company has registered a 0.6 percent QoQ growth in net profit at Rs 1,169.3 crore for the quarter ended December FY24 due to weak operating margin performance. Revenue from operations during the third quarter of FY24 increased by 1.2 percent QoQ to Rs 9,016.6 crore, and revenue in dollar terms grew by 0.8 percent sequentially to $1,083.7 million for the quarter.
Oracle Financial Services Software: The Oracle-owned company has recorded a 69 percent on-year growth in net profit at Rs 741 crore for the October-December quarter of FY24. Revenue from operations during the same period grew by 26 percent YoY to Rs 1,824 crore, and operating income rose by 45 percent YoY to Rs 840 crore.