Gift nifty indicates a positive start; Asian markets trade mixed; US market flat

Gift Nifty was trading around 21,860 level as against Nifty futures’ previous close of 21,830, indicating a positive start for the Indian stock market indices.

The Asian markets traded mixed while the US stock futures were flat after returning from a holiday

The Dow Jones Industrial Average futures rose 18 points, while S&P 500 futures and Nasdaq 100 futures traded flat. US markets were shut on Monday for New Year’s Day


Tata Steel: The National Company Law Tribunal, Kolkata, sanctioned the scheme of amalgamation among Tata Steel, The Tinplate Company of India, and their respective shareholders.

Nestle India: The FMCG company has received an order for demand tax amounting to Rs 46.4 crore under the CGST/SGST Act, applicable interest, and penalty amounting to Rs4.65 crore from the Additional Commissioner, Office of the Principal Commissioner, Central Goods & Services Tax & Central Excise Commissionerate, Chandigarh.

Asian Paints: Life Insurance Corporation of India has increased its shareholding in Asian Paints by 48,652 equity shares, from 4.995 percent to 5.000 percent of the paid-up capital of the said company.

Eicher Motors: The Royal Enfield sold 63,387 motorcycles in December 2023, down by 7 percent from 68,400 motorcycles in the same month last year. Exports declined 29 percent to 6,096 motorcycles, down from 8,579 units during the same period.

Coal India: The coal production in December 2023 increased by 8.2 percent YoY to 71.9 million metric tons, and the same from April to December 2023 grew by 11 percent to 531.9 million metric tons compared to the year-ago period.

ultra tech Cement: The country’s largest cement company has recorded a 6 percent YoY (2 percent QoQ) growth in consolidated sales volume at 27.32 million metric tons, with India’s sales volume growing 5 percent YoY (2 percent QoQ) to 26.06 million metric tons.

Zydus Wellness: Heinz India, which merged with Zydus Wellness Products,  a wholly owned subsidiary company has received an order from the Office of Commissioner of GST and Central Excise, Maharashtra, alleging short payment of tax, interest, and penalty of Rs 19.03 crore for FY2017-18 to FY2019-20.