Get App
The benchmark Sensex and Nifty indices are likely to open marginally higher as trends in the GIFT Nifty indicate a positive start
Stock futures are near flat Thursday night as investors looked ahead to the second in a pair of closely watched inflation reports this week. Futures tied to the Dow Jones Industrial Average lost 18 points, or 0.1%. S&P 500 futures and Nasdaq 100 futures were also both down around 0.1%.
Asia-Pacific markets were largely lower except for Japan, which continued its record-breaking rally, while investors awaited a slew of economic data out of China, including inflation and trade numbers for December.
Nikkei popped 2.1% on open before paring some gains, while the broader Topix was up 0.53%
STOCKS TODAY
Mahindra and Mahindra: The automobile company recorded production of 44,348 units in December 2023, down 2.1 percent compared to a year-ago period. Total sales grew by 8.9 percent YoY to 58,369 units, but exports dropped sharply by 41.3 percent to 1,819 units during the same period. The company has approved an investment of up to Rs 630 crore in Mahindra Electric Automobile (MEAL) via a rights issue. The proceeds will be used by MEAL to meet its fund requirements for business operations
Infosys: The country’s second-largest IT services provider, has recorded a 1.7 percent QoQ decline in net profit at Rs 6,106 crore for the quarter ended December FY24 and a 0.4 percent fall in revenue at Rs 38,821 crore. Dollar revenue at $4,663 million, falling 1.2 percent, was also above estimates, while revenue in constant currency slipped 1 percent
Tata Consultancy Services: The IT services major has registered 8.2 percent on-year growth in net profit at Rs 11,735 crore and a 4 percent rise in revenue at Rs 60,583 crore for the quarter ended December FY24. Revenue growth in constant currency was 1.7 percent YoY. The company reported total contract value (TCV) at $8.1 billion in Q3 FY24, falling compared to $11.2 billion in the previous quarter
Tata Power Company: Subsidiary Tata Power Renewable Energy has signed a memorandum of understanding (MoU) with the Government of Gujarat to develop 10,000 MW of renewable energy power projects across multiple sites in Gujarat. This collaboration will support achieving the ambitious goal of generating 50 percent of power from renewable sources by 2030.
FSN E-Commerce Ventures: Foreign investor Lexdale International is likely to sell 2.62 crore shares of Nykaa via a block deal, reports CNBC-Awaaz, quoting sources. The total block deal value may be Rs 490 crore.
Life Insurance Corporation of India: The Corporation has received demand orders worth Rs 3,528.75 crore from the Income Tax authorities in Mumbai. LIC will file an appeal before the Commissioner (Appeals), Mumbai, against the said orders.
UltraTech Cement: The cement major has entered into a Share Subscription and Shareholders Agreement to acquire 26 percent equity shares of Amplus Ages for Rs 49 crore. Amplus Ages is engaged in the generation and transmission of renewable energy. The acquisition is to meet the company’s green energy needs, optimise energy costs, and comply with regulatory requirements for captive power consumption under electricity laws.