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PRE-MARKET REPORT
The domestic equity market benchmark indices, Sensex and Nifty 50, are expected to open lower on Wednesday following weakness in global markets.
Gift Nifty was trading around the 25,045 level, a discount of nearly 80 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, with the technology-heavy Nasdaq falling 1% as chip stocks tumbled, while the energy sector fell 3%.
The Dow Jones Industrial Average declined 324.80 points, or 0.75%, to 42,740.42, while the S&P 500 dropped 44.59 points, or 0.76%, to 5,815.26. The Nasdaq Composite ended 187.10 points, or 1.01%, lower at 18,315.59.
Asian markets traded lower tracking overnight losses on Wall Street, with Japan’s Nikkei declining. Japan’s Nikkei 225 dropped 1.85%, while the Topix fell 1.13%. South Korea’s Kospi declined 1.22% and the Kosdaq fell 0.93%. Hong Kong’s Hang Seng index futures indicated a lower opening.
STOCKS TODAY
Cochin Shipyard: The Government of India will sell a 5% stake in Cochin Shipyard via the offer-for-sale (OFS) route. The floor price has been fixed at Rs 1,540 per share. The OFS includes a base offer size of 2.5% and a green shoe option of 2.5%. The issue will open for non-retail investors on October 16 and retail investors on October 17.
PNC Infratech: The company has received Letters of Acceptance from the Maharashtra State Road Development Corporation (MSRDC) for two EPC road projects worth Rs 4,630 crore. The projects involve the construction of an access-controlled Pune ring road from Indori to Chimbali and an access-controlled expressway connector to the Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg from Jalna to Nanded in Maharashtra, on an EPC basis.
GR Infraprojects: The company has received a Letter of Acceptance from the Maharashtra State Road Development Corporation for a project worth Rs 1,885.63 crore. The project involves the construction of an access-controlled Pune ring road in the Pune district, package PRR W5, from village Kalyan/Rathwade to village Shivare/Kusgaon in Maharashtra, on an EPC basis.
Bhageria Industries: The company has received a Letter of Award for a solar power developer (SPD) for solar photovoltaic power generating stations with a total capacity of 32 MW (AC) under Component C of the PM-KUSUM scheme. Its scope of work will include power generation, while the Maharashtra State Electricity Distribution Company will purchase the power generated from the project for 25 years from the scheduled commercial operation date.
Capri Global Capital: The non-banking financial company has launched its Rooftop Solar Finance product under MSME loans. It has partnered with Credit Fair, a renewable energy fintech, to onboard customers digitally to avail loans and aims to build a separate loan book of Rs 1,000 crore in the coming years.
Tembo Global Industries: The company has received an order from the Maharashtra State Electricity Distribution Company for a 25-year Power Purchase Agreement (PPA) for solar photovoltaic power generating stations with a capacity of 124 MW (AC) under the Mukhyamantri Saur Krushi Vahini Yojana 2.0.