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PRE-MARKET REPORT
The domestic equity market indices, Sensex and Nifty 50, are expected to open on a tepid note on Thursday amid cautiousness on mixed global market cues.
Gift Nifty was trading around 23,140 level, a discount of nearly 59 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
The US stock market ended higher led by a rally in technology stocks on President Donald Trump’s $500 billion private-sector artificial intelligence infrastructure investment plan.
The Dow Jones Industrial Average gained 130.92 points, or 0.30%, to 44,156.73, while the S&P 500 surged 37.13 points, or 0.61%, to 6,086.37. The Nasdaq Composite closed 252.56 points, or 1.28%, higher at 20,009.34.
Asian markets traded mixed on Thursday amid the region’s slew of economic data. Japan’s Nikkei 225 gained 0.38%, while the Topix rose 0.25%. South Korea’s Kospi fell 0.21% and the Kosdaq declined 0.13% at the open. Hong Kong’s Hang Seng index futures indicated a higher opening.
STOCKS TODAY
Go Digit: On Wednesday, general insurance firm Go Digit reported a nearly three-fold rise in net profit to ₹119 crore for the three months ending December 2024. The Fairfax-backed company had earned a net profit of ₹43 crore in the same period a year ago.
Paras Defence and Space Technologies: The company has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra, India, for the proposed Optics Park Project in Navi Mumbai, which is set to commence in 2028.
Bharti Airtel: Credit rating agency Moody’s has changed Bharti Airtel’s outlook to positive. The agency has affirmed Bharti Airtel Ltd.’s (Bharti) Baa3 issuer rating and the Baa3 senior unsecured debt rating on the bonds issued by Bharti.
RattanIndia Power: The company on Wednesday reported a consolidated net profit of ₹4.33 crore for the December 2024 quarter, attributed to reduced expenses. The company had posted a loss of ₹586.97 crore in the year-ago period, according to an exchange filing.
Persistent Systems: Information technology (IT) company Persistent Systems reported a 30.35% year-on-year (YoY) jump in its consolidated profit after tax (PAT) for the December 2024 quarter (Q3 FY25) to ₹373 crore. In the same quarter of the previous fiscal year, the company reported a net profit of ₹286 crore and ₹306 crore in the preceding September quarter.