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PRE-MARKET REPORT
The domestic equity indices are expected to open on a steady note amid mixed global market cues. Further, Gift Nifty also indicates a positive start for the Indian indices.
The US stock market indices ended near flat on Tuesday ahead of inflation and other economic data.
The Dow Jones Industrial Average fell 96.82 points, or 0.25%, to 38,972.41, while the S&P 500 rose 8.65 points, or 0.17%, to 5,078.18. The Nasdaq Composite ended 59.05 points, or 0.37%, higher at 16,035.30.
Asian markets traded flat on Wednesday as investors awaited key US inflation and China data later this week.
Japan’s Nikkei 225 and Topix were flat, while South Korea’s Kospi gained 0.1% and the Kosdaq rose 1.3%. Hong Kong’s Hang Seng index futures indicated a higher opening.
STOCKS TODAY
Tata Elxsi: Tata Elxsi and Telefónica implemented cloud-native infrastructure management powered by ETSI Open-Source MANO (ETSI OSM). These advancements mark a new phase in the evolution of telco cloud technologies and signify a commitment to driving digital transformation across the telecommunications industry.
Larsen & Toubro: L&T Infrastructure Development Projects (L&T IDPL), a subsidiary of the company, has completed the sale of its entire stake in Interise Investment Managers (IIML), a wholly owned subsidiary of L&T IDPL. Consequently, IIML has ceased to be a subsidiary of L&T IDPL and the company.
Vodafone Idea: The board of directors has approved a fundraising of up to Rs 20,000 crore via equity. Through a combination of equity and debt, the company plans to raise around Rs 45,000 crore. The company’s bank debt currently stands at less than Rs 4,500 crore. The equity and debt fundraising will enable the company to make investments towards significant expansion of 4G coverage, 5G network rollout, and capacity expansion.
Oil and Natural Gas Corporation: The state-owned company has incorporated its wholly owned subsidiary, ONGC Green, which will engage in the value chains of energy business, namely renewable energy, bio-fuels and bio-gas business, green hydrogen and its derivatives like green ammonia and green methanol, storage, carbon capture utilization and storage, and LNG business.
Torrent Power: The power company has emerged as the successful bidder and has received a letter of intent from PFC Consulting for the establishment of an inter-state transmission scheme “transmission system for the evacuation of power from renewable power projects in Solapur (1,500 MW) SEZ in Maharashtra. The project has been conceived to evacuate renewable energy with a capacity of 1,500 MW from Solapur and entails the setting up of a transmission line of 44 km from the existing Solapur substation of Power Grid Corporation to Solapur substation (to be established by Torrent Power). In due course, PFC Consulting will transfer the project SPV to Torrent Power.
Piramal Pharma: The company said a fine of 1,82,001 euros was imposed on its step-down subsidiary Piramal Critical Care B V (PCC BV) by the Audiencia Nacional, Spain. PCC BV is contemplating filing an appeal against the Audiencia’s judgment before the Supreme Court in Spain. The fine levied on PCC BV does not have any material impact on the financials, operations, or other activities of the company.
SJVN: Subsidiary SJVN Green Energy (SGEL) has commissioned a 100 MW Raghanesda solar power project in Banaskantha, Gujarat. SGEL has bagged this 100 MW solar power project at a tariff of Rs 2.64 per unit through competitive tariff bidding conducted by Gujarat Urja Vikas Nigam (GUVNL). A power purchase agreement for the same has been signed with GUVNL for 25 years.
Texmaco Rail & Engineering: The company said the board of directors has approved the raising of funds up to Rs 150 crore via the issuance of convertible warrants by way of preferential issue to promoters, promoter group, or others.