Get App
PRE-MARKET REPORT
The domestic equity indices, Sensex and Nifty 50, are expected to open higher on Wednesday tracking positive momentum in global markets.
Gift Nifty was trading around the 24,340 level, a premium of nearly 140 points from the Nifty futures’ previous close, indicating a strong start for the Indian stock market indices.
US stock market indexes ended higher on Tuesday led by gains in mega-cap growth stocks and Tesla shares.
The Dow Jones Industrial Average rallied 162.33 points, or 0.41%, to close at 39,331.85, while the S&P 500 rose 33.92 points, or 0.62%, to 5,509.01. The Nasdaq Composite ended 149.46 points, or 0.84%, higher at 18,028.76.
Asian markets traded higher on Wednesday following overnight gains on Wall Street and amid economic data releases in the region.
Japan’s Nikkei 225 rose 0.84% to above the 40,000 level, while the Topix rose 0.08%. South Korea’s Kospi gained 0.26% and the Kosdaq Index added 0.5%. Hong Kong Hang Seng index futures indicated a lower opening.
STOCKS TODAY
HDFC Bank: The June 2024 quarter shareholding data shows that FII holdings in the bank fell below 55% to 54.83%, from 55.54% at the end of the March quarter, raising the possibility of a likely increase in its weightage in the MSCI indices. Experts expect the lender to get FII inflows between $3 billion and $4 billion, reports CNBC-TV18.
Yes Bank: The private sector lender recorded 14.8% on-year growth in loans and advances at Rs 2.29 lakh crore for Q1FY25. Deposits grew by 20.8% YoY to Rs 2.64 lakh crore during the quarter, as per provisional data.
MOIL: The manganese ore mining company has recorded sales growth of 14.5% YoY for the June FY25 quarter. This performance was backed by record quarterly production of 4.70 lakh tonnes in Q1FY25, a 7.8% YoY growth.
Force Motors: The total sales of commercial and utility vehicles for June 2024 fell by 2.85% YoY to 2,553 units against 2,628 units sold in June 2023. Domestic sales during June 2024 grew by 12.66% to 2,465 units, but exports dropped 80% to 88 units compared to the same month last year.
Zomato: Subsidiary Zomato Financial Services has decided to voluntarily withdraw the application submitted to the Reserve Bank of India for getting a certificate of registration for undertaking the business of a non-banking financial company (Type II NBFC-ND), as it does not wish to pursue the lending business anymore.
KEC International: The global infrastructure EPC major has secured new orders worth Rs 1,017 crore in T&D and renewables businesses. The transmission and distribution business has secured orders for an EPC project and the supply of towers in the Middle East.
Avenue Supermarts (D-Mart): The standalone revenue from operations for the quarter ended June FY25 stood at Rs 13,711.87 crore, growing 18.4% over revenue of Rs 11,584.44 crore in Q1FY24. The total number of stores as of June 2024 stood at 371.
Mahindra & Mahindra Financial Services: In June 2024, the company estimated the overall disbursement at approximately Rs 4,370 crore, delivering a 3% YoY growth. Q1FY25 disbursement at about Rs 12,730 crore grew by 5% YoY. The collection efficiency was at 95% for June 2024, against 96% for June 2023.