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PRE-MARKET REPORT
The domestic equity market indices are expected to gain today following the positive trend in the global markets. Further, Gift Nifty also trading above the previous close, indicating a positive start for the Indian stock market indices.
The US stock market ended sharply higher on Wednesday led by robust earnings. The Dow Jones Industrial Average gained 0.40%, while the S&P 500 rallied 0.96%. The Nasdaq closed 1.30% higher.
Asian markets traded higher on Thursday following overnight gains on Wall Street, and as investors assess economic data in the region. Japan’s Nikkei 225 gained 0.84% and briefly surpassed the 38,000 mark, while Topix rose 0.55%. South Korea’s Kospi added 0.67% and the Kosdaq gained 0.6%. Hong Kong’s Hang Seng index futures indicated a stronger open.
STOCKS TODAY
Container Corporation of India: The state-owned entity has signed an addendum to the existing Memorandum of Understanding (MoU) with Container Company of Bangladesh (CCBL), which extended its validity for a further period until April 7, 2027. The said MoU was earlier executed in 2017 for developing modalities for running container trains between India and Bangladesh to facilitate cross-border trade, besides developing various infrastructure, logistics businesses, and project-related services.
Hindustan Unilever: The FMCG major is in talks with the Andhra Pradesh government to collaborate on palm oil production in the state. HUL sought to partner with more than 15,000 farmers in Andhra Pradesh to create at least 30,000 hectares of oil palm plantations. The proposed plan will lead to investments of over Rs 300 crore during the project development period. The proposed palm oil mill is expected to create over 1,000 direct and indirect jobs in the state.
Aditya Birla Fashion & Retail: The Aditya Birla Group company has posted a consolidated net loss of Rs 77.9 crore for the quarter ended December FY24, against a profit of Rs 15.8 crore in the year-ago period, partly impacted by higher other expenses. Revenue from operations grew by 16.1 percent YoY to Rs 4,166.7 crore for the quarter.
Glenmark Pharmaceuticals: The pharma company has posted a consolidated net loss of Rs 449.6 crore for the October–December period of FY24, against a profit of Rs 185.8 crore in the year-ago period, impacted by lower India and US businesses. Revenue from operations fell 19.1 percent year-on-year to Rs 2,506.7 crore for the quarter.
One 97 Communications: The company, its subsidiaries, and its associate, Paytm Payments Bank, have received notices and requisitions for information, documents, and explanations from the authorities, including the Enforcement Directorate (ED), concerning the customers that may have done business with the respective entities. The company and its associates have continued to provide such information, documents, and explanations to the authorities as required by them. Paytm Payments Bank does not undertake outward foreign remittances. Meanwhile, the exchanges revised the circuit limit for the stock to 5 percent, up from 10 percent earlier.
Crompton Greaves Consumer Electricals: The electrical products company has recorded consolidated profit at Rs 86 crore for the October-December period of FY24, rising 0.9 percent over a year-ago period impacted by weak operating numbers. Revenue from operations grew by 11.6 percent year-on-year to Rs 1,692.7 crore for the quarter.
National Fertilizers: The fertilizer company has reported a consolidated net profit of Rs 150.9 crore for the third quarter of FY24, declining 73 percent compared to the corresponding period of the last fiscal. Revenue from operations fell 25.2 percent YoY to Rs 7,581 crore for the quarter.
Sidwal Refrigeration Industries: The wholly-owned material subsidiary of the company, has made a primary investment of Rs 100 crore in the equity share capital of Shivaliks Mercantile. The company will infuse the amount in two tranches.