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PRE-MARKET REPORT
The benchmark Sensex and Nifty indices are likely to open on a higher note today as trends in the GIFT Nifty indicate a positive start.
US stock market indices ended higher on Wednesday, with the benchmark S&P 500 registering a record closing high, as investors reacted to corporate earnings and monitored comments from Federal Reserve officials for clues on interest rates.
The Dow Jones Industrial Average gained 156.00 points, or 0.40%, while the S&P 500 rallied 40.83 points, or 0.82%. The Nasdaq Composite settled 147.65 points, or 0.95%, higher.
Asian markets traded higher on Thursday following overnight gains on Wall Street and ahead of China’s inflation data.
Japan’s Nikkei 225 gained 0.77%, while the Topix eased 0.15%. South Korea’s Kospi rose 0.46% and the Kosdaq rallied 0.92%. Hong Kong’s Hang Seng index futures indicated a weak opening
STOCKS TODAY
Zomato: The food delivery giant has announced the liquidation of its step-down subsidiary, Zomato Vietnam Company (ZVCL), with effect from February 2. Lunchtime.cz, a step-down subsidiary of Zomato in the Czech Republic, has also been liquidated with effect from February 6.
Tata Consumer Products: The FMCG company has registered a 17.3 percent on-year decline in consolidated profit at Rs 301.5 crore for the quarter ended December FY24 despite healthy operating numbers, impacted by an exceptional loss of Rs 91.53 crore. Revenue from operations grew by 9.5 percent YoY to Rs 3,804 crore for the quarter.
Apollo Tyres: The tire manufacturing company has recorded consolidated profit at Rs 496.6 crore for the third quarter of FY24, growing 78.1 percent over a year-ago period despite a muted topline, backed by healthy operating numbers. Revenue from operations during the same period grew by 2.7 percent to Rs 6,595.4 crore.
Power Grid Corporation of India: The state-owned electric services company has recorded 10.5 percent year-on-year growth in consolidated net profit at Rs 4,028.3 crore for the October–December period of FY24, despite higher tax costs, driven by healthy operating numbers. Revenue from operations grew by 2.6 percent YoY to Rs 11,549.8 crore for the quarter.
SJVN: The company has received the Letter of Intent (LOI) from Gujarat Urja Vikas Nigam (GUVNL) for a 200 MW solar power project in GUVNL Phase XXII. The tentative cost of construction and development for this project is Rs 1,100 crore. The ground-mounted solar project will be developed by subsidiary SJVN Green Energy anywhere in India through an EPC contract. The project will be commissioned in 18 months from the date of the power purchase agreement.
Inox India (INOXCVA): The cryogenic solutions company has signed a Memorandum of Understanding (MoU) with the Inter-University Accelerator Centre (IUAC) for the development of technology for the design and manufacture of superconducting magnet-based systems. The system will be used for clinical, industrial, defense, and research applications.
Mankind Pharma: Promoters Sheetal Arora, Arjun Juneja, and Puja Juneja have decided to sell a combined stake of 1.62 percent in Mankind to comply with the requirements of minimum public shareholding. A block deal of around Rs 1,330 crore has been launched for the above divestment at a floor price of Rs 2,050 per share, as per the sources.
Results on February 8: Grasim Industries, Life Insurance Corporation of India, Power Finance Corporation, Zomato, Biocon, Aarti Industries, Apollo Hospitals Enterprise, Aster DM Healthcare, Astrazeneca Pharma India, Balrampur Chini Mills, BEML, Concord Biotech, ESAF Small Finance Bank, Escorts Kubota, Hikal, Honeywell Automation, India Shelter Finance Corporation, ITD Cementation, JK Lakshmi Cement, NCC, Page Industries, Patanjali Foods, Rail Vikas Nigam, SKF India, Thermax, Torrent Power, and Zydus Wellness will release their December quarter earnings scorecard on February 8.