Get App
PRE-MARKET REPORT
The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open lower on Wednesday following weakness in global markets.
Gift Nifty was trading around the 23,890 level, a discount of nearly 70 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
US stock market indices ended lower on Tuesday amid profit booking, while investors awaited US inflation data. The Dow Jones Industrial Average declined 382.15 points, or 0.86%, to 43,910.98, while the S&P 500 fell 17.36 points, or 0.29%, to 5,983.99. The Nasdaq Composite closed 17.36 points, or 0.09%, lower at 19,281.40.
Asian markets traded lower on Wednesday tracking overnight losses on Wall Street. Japan’s Nikkei 225 fell 0.5%, while the Topix dropped 0.3%. South Korea’s Kospi declined 1.1%, and the Kosdaq Index fell 1.4%. Hong Kong Hang Seng index futures indicated a lower opening.
STOCKS TODAY
FSN E-Commerce Ventures: The operator of Nykaa reported a 66% rise in consolidated net profit for Q2FY25, reaching ₹13 crore compared to ₹7.8 crore in the prior year. Revenue from operations increased 24% YoY to ₹1,875 crore. EBITDA grew 29% YoY to ₹104 crore, with margins up by 18 basis points to 5.5%. GMV rose 24% YoY to ₹3,652 crore. Beauty segment revenues climbed 24% YoY to ₹1,703 crore, while fashion segment revenues increased 22% YoY to ₹166 crore.
Hyundai Motor India: The automaker reported a 16% decrease in consolidated net profit to ₹1,375.47 crore for Q2FY25, down from ₹1,628 crore a year earlier, due to weak local demand and global geopolitical challenges. This was Hyundai’s first earnings report since its stock exchange debut in October.
Zydus Lifesciences: The pharmaceutical company reported a 14% rise in net profit to ₹911 crore for Q2FY25, driven by strong sales in India and the US. This compares to ₹801 crore in the previous year. Revenue from operations rose 20% YoY to ₹5,237 crore. On a QoQ basis, net profit fell 35.8% and revenue declined 15.6%.
Tata Power: Life Insurance Corporation (LIC) announced it has divested over 2.02% of its holding in Tata Power Company, amounting to about ₹2,888 crore, reducing its stake to 3.88%. Previously, LIC held 18,87,06,367 shares, equating to 5.906% of Tata Power’s paid-up capital. The shares were sold between June 20 and November 11, 2024, at an average price of ₹446.402 per share through open market transactions.
Religare Enterprises: The company reported a consolidated net profit of ₹68.49 crore for the second quarter ended September 2024, marking a 70% increase from ₹40.35 crore in the same period last fiscal year. Total revenue for the period was ₹1,971 crore, an increase from ₹1,586 crore in Q2FY24.
Natco Pharma: The pharmaceutical firm posted an 83% YoY increase in consolidated net profit, reaching ₹676 crore in Q2FY25, compared to ₹369 crore in the previous year’s quarter. Revenue from operations grew to ₹1,371 crore from ₹1,031 crore in the same quarter last year.