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PRE-MARKET REPORT
The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open lower on Wednesday, the first trading session of the New Year 2025, following weak cues from global markets.
Gift Nifty was trading around 23,733 level, a discount of nearly 72 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
The US stock market ended the last trading session 2024 lower amid low volumes. The Dow Jones Industrial Average on Tuesday declined 29.51 points, or 0.07%, to 42,544.22, while the S&P 500 fell 25.31 points, or 0.43%, to 5,881.63. The Nasdaq Composite closed 175.99 points, or 0.90%, lower at 19,310.79.
Asian markets, including stock markets of China, Japan, Taiwan, Hong Kong, and South Korea are closed on Wednesday for the New Year 2025 holiday.
STOCKS TODAY
Piramal Enterprises: Piramal Enterprises has infused ₹1,000 crore into its wholly-owned subsidiary, Piramal Capital & Housing Finance Ltd (PCHFL), through a rights issue subscription. The funds will be utilized for business expansion and general corporate purposes. The transaction does not alter the shareholding structure, with Piramal Enterprises retaining full ownership of PCHFL.
Kirloskar Industries: Kirloskar Industries announced plans to challenge a directive from the Securities and Exchange Board of India (SEBI) that requires the disclosure of a family settlement deed dated September 11, 2009. SEBI issued the directive in a letter dated December 30, 2024, under applicable regulatory provisions.
Kalpataru Projects: Kalpataru Projects, along with its international subsidiaries, has received new orders and awards worth ₹1,011 crore. The projects span the transmission and distribution (T&D) sector in international markets, railways in India, and the buildings and factories (B&F) segment within the country.
ITD Cementation: ITD Cementation has secured a marine contract worth ₹1,648 crore (excluding GST) for the greenfield Vadhvan Port in Dahanu, Maharashtra. The project involves nearshore reclamation and shore protection for what is set to become India’s largest deep-water port, with an overall investment of ₹76,220 crore.
Suzlon Energy: Suzlon Energy Ltd announced on December 31 that the Income Tax Appellate Tribunal (ITAT) has canceled a tax penalty of ₹87.59 crore imposed on the company for FY16. The penalty, initially levied under Section 271(1)(c) of the Income Tax Act, 1961, was related to disallowances from 2015-16. Suzlon disclosed the issue in a regulatory filing dated March 28, 2024.