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PRE-MARKET REPORT
The domestic equity indices, Sensex and Nifty 50, are expected to gain amid tracking positive global market cues. Further, Gift Nifty trading above the previous close indicates a positive start for the Indian indices.
US stock market indexes ended higher on Wednesday after the release of key economic data. The Dow Jones Industrial Average gained 75.86 points, or 0.20%, to 38,661.05, while the S&P 500 rose 26.11 points, or 0.51%, to 5,104.76. The Nasdaq Composite ended 91.96 points, or 0.58%, higher at 16,031.54.
Asian markets traded higher on Thursday, with Japan’s Nikkei 225 index hitting a fresh record high, following overnight gains on Wall Street.
The Nikkei 225 gained 0.8%, while the Topix rose 0.6%, also hitting a record high. South Korea’s Kospi added 0.42%, while the Kosdaq rose 0.1%. Hong Kong’s Hang Seng index futures indicated a higher opening.
STOCKS TODAY
Mahindra and Mahindra: A promoter group entity is likely to sell around a 0.75 percent stake in M&M to raise around $215 million via a block deal, multiple people familiar with the development said. The block deal has been launched, and the offer price range is Rs 1,911.5 per share to Rs 1,970.65 per share.
Tata Motors: Rating agency Moody’s has affirmed Tata Motors’ BA3 ratings with the outlook remaining positive after the board of directors has agreed in principle to demerge its operations into two separate listed companies for commercial vehicles and passenger vehicles, respectively, subject to shareholder and regulatory approvals. The demerger will likely be completed within the next 12–15 months.
Zomato: Foreign investor Morgan Stanley Asia (Singapore) Pte bought 5,68,11,443 equity shares in the food delivery giant at an average price of Rs 160.1 per share, valued at Rs 909.55 crore. However, foreign investor and Ant group subsidiary Antfin Singapore Holding Pte Ltd sold 17,63,95,675 equity shares in Zomato, equivalent to 2.02 percent of paid-up equity, amounting to Rs 2,827.08 crore. At the same time, as of December 2023, its shareholding in the company was 6.42 percent.
Adani Enterprises: Ospree International FZCO, Dubai, a step-down subsidiary of Adani Enterprises, has acquired a 100 percent stake in Le Marché Duty-Free SAS (LMDF) for 5,000 euros. LMDF, incorporated to operate a duty-free business in France, is owned by Atul Ahuja, a sole shareholder who is a promoter of Flemingo Group.
Life Insurance Corporation of India: LIC has increased its shareholding in LIC Mutual Fund Asset Management through private placement. After the said private placement, the shareholding of the corporation in LIC MF increased from 40.93 percent to 44.61 percent of the paid-up capital
Infosys: The digital services and consulting company, has renewed its digital innovation partnership with the ATP Tour until 2026. The three-year extension of the partnership will continue to draw on Infosys’ deep expertise in digital technologies like artificial intelligence, data analytics, and cloud computing, which will enrich the fan experience and player performance in professional tennis.
Hindustan Aeronautics: The state-run defense company has signed an amendment to the LCA (Light Combat Aircraft) IOC (Initial Operational Clearance) contract. The value of the contract has been revised from Rs 2,700.87 crore to Rs 5,077.95 crore.