Gift Nifty indicates a positive opening for the Indian stock indices; The US markets and the Asian markets traded mixed


Indian markets are likely to extend gains on Tuesday following gains in Asian peers even though Wall Street ended lower in overnight deals.

Also, Gift Nifty was trading 59 points higher, indicating a positive start for benchmark indices.

The US stock market indices ended mixed on Monday after stronger-than-expected manufacturing data pushed Treasury yields higher.

The Dow Jones Industrial Average declined 240.52 points, or 0.60%, to 39,566.85, while the S&P 500 fell 10.58 points, or 0.20%, to 5,243.77. The Nasdaq Composite ended 17.37 points, or 0.11%, higher at 16,396.83.

Asian markets traded mixed on Tuesday as investors gauged key economic data in the region.
Japan’s Nikkei 225 gained 0.25%, while the Topix rose 0.19%. South Korea’s Kospi fell 0.34% and the Kosdaq declined 1.11%. Hong Kong’s Hang Seng index futures indicated a weak opening.


Infosys: The IT services major has received a tax demand of Rs 341 crore from the Income Tax Department for the assessment year 2020–21 (including interest). The company is in the process of evaluating the implications of this order on the financial statements for the quarter and year ending March 2024 and also evaluating filing an appeal against this order.

NTPC: The country’s largest power generation company has signed a supplementary joint venture agreement (SJVA), Amendment-II, with UP Rajya Vidyut Utpadan Nigam (UPRVUNL). This SJVA Amendment-II will form an integral part of the joint venture agreement (JVA) dated February 28, 2008, and the SJVA Amendment-I dated September 13, 2023. The SJVA Amendment-II has been signed to provide existing UPRVUNL land to the joint venture company, MUNPL, for the Obra-D (2X800 MW) and Anpara-E (2X800 MW) projects on a lease basis at a nominal rate of Re 1 per acre per year, aiming to reduce power tariffs.

NMDC: The company recorded an iron ore production of 4.86 million metric tons in the month of March 2024, down 13.2 percent over the previous month. Iron ore sales during the same period declined 18.2 percent to 3.96 million metric tons.

Zomato: The company has received an order for demand of service tax of Rs 92.1 crore, along with interest and penalty of Rs 92.1 crore. The said order for October 2014 to June 2017 was passed by the Commissioner, Adjudication, Central Tax, Delhi.

Ashok Leyland: The commercial vehicle maker has recorded a 4% on-year decline in total vehicle sales at 22,866 units, with domestic sales falling 7 percent to 21,317 units during the same period. Medium and heavy commercial vehicle sales dropped 7 percent YoY to 15,562 units in March 2024.

Maruti Suzuki India: The country’s largest car maker recorded total production of 1,66,730 vehicles in March this year, rising 8.2 percent over 1,54,148 vehicles produced in the same month last year. Meanwhile, the company has received a demand notice of Rs 238.72 crore from the income tax authority and a show-cause notice for the initiation of penalty proceedings. The company will be filing an appeal before the CIT against this demand and penalty proceedings.

TVS Motor Company: The two-wheeler and three-wheeler maker has recorded 12 percent on-year growth in total sales at 3.54 lakh units for March 2024, with total 2-wheeler sales rising 12 percent YoY to 3.44 lakh units. Domestic 2-wheeler sales increased 8 percent to 2.6 lakh units, and exports jumped 23 percent to 91,972 units during the same period.

Aditya Birla Fashion and Retail: The company said the Board of Directors has authorized the management to evaluate the vertical demerger of the Madura Fashion & Lifestyle business from Aditya Birla Fashion into a separately listed company. The proposed demerger will enable the creation of two separately listed companies as independent growth engines with distinct capital structures and parallel value-creation opportunities.