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PRE-MARKET REPORT
The domestic equity market 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 the 24,820 level, a discount of nearly 215 points from the Nifty futures’ previous close, indicating a gap-down start for the Indian stock market indices.
The US stock market ended sharply lower on Thursday amid concerns over a slowing economy.
The Dow Jones Industrial Average declined 494.82 points, or 1.21%, to 40,347.97, while the S&P 500 dropped 75.62 points, or 1.37%, to 5,446.68. The Nasdaq Composite closed 405.25 points, or 2.30%, lower at 17,194.15.
The Asian markets plunged on Friday following an overnight sell-off on Wall Street.
Japan’s Nikkei 225 tanked almost 5%, while the Topix plunged more than 5%. South Korea’s Kospi fell 2.6%, and the Kosdaq declined 2.56%. Hong Kong’s Hang Seng index futures indicated a lower opening.
STOCKS TODAY
Kalyan Jewellers: The company reported a 24 percent year-on-year (YoY) increase in net profit to Rs 177 crore in Q1 FY25. Its revenue went up 26.5 percent YoY to Rs 5,535 crore.
ITC: The company’s standalone net profit increased marginally to Rs 4,917 crore in Q1 FY25. Revenue from operations rose 7 percent YoY to Rs 18,220 crore in Q1 FY25.
Tata Motors: The company reported a 74 percent YoY jump in its Q1 FY25 consolidated net profit to Rs 5,566 crore. Its revenue from operations rose 5.7 percent YoY to Rs 1,07,316 crore.
Aditya Birla Capital: The company reported a 17 percent YoY increase in net profit to Rs 758 crore in Q1 FY25. The company’s sales increased 25.37 percent YoY to Rs 8,832 crore.
Adani Enterprises: The company’s net profit jumped to Rs 1,455 crore, growing more than two-fold in Q1 FY25. Revenue from operations rose 12.5 percent YoY to Rs 25,472 crore.
Godrej Agrovet: The Board has approved an initial investment of up to Rs 110 crore to set up a new feed plant in Maharashtra. The project is proposed to be funded through a mix of internal accruals and debt.
Maruti Suzuki: In July 2024, Maruti Suzuki India Limited reported sales of 175,041 units. Total sales for the month included domestic sales of 140,354 units, sales to other OEMs of 10,702 units, and exports of 23,985 units.
Zomato: Zomato’s net profit jumped 126.5 times to Rs 253 crore in the April-June quarter, compared to the same period a year ago. Its revenue rose 74 percent YoY to Rs 4,206 crore.