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PRE-MARKET REPORT
The domestic equity market indices, Sensex and Nifty 50, are expected to open higher on Friday tracking positive global market cues.
Gift Nifty was trading around the 25,390 level, a premium of nearly 56 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.
The US stock market ended higher on Thursday after the latest inflation data reinforced hopes for a 25-basis point rate cut by the Federal Reserve.
The Dow Jones Industrial Average gained 235.06 points, or 0.58%, to 41,096.77, while the S&P 500 rose 41.63 points, or 0.75%, to 5,595.76. The Nasdaq Composite ended 174.15 points, or 1.00%, higher at 17,569.68.
Asian markets traded mixed on Friday. Japan’s Nikkei 225 declined 0.43%, while the Topix fell 0.58%. South Korea’s Kospi traded flat, while the Kosdaq was marginally lower.
Hong Kong Hang Seng index futures indicated a higher opening, while futures for mainland China’s CSI 300 were slightly higher than the last close Thursday.
STOCKS TODAY
Reliance Industries: The company has received an order from the Deputy Commissioner of State Tax, Jamnagar, levying a penalty of Rs 63 lakh for allegedly incorrect availing of input tax credit. The company informed the exchanges that it intends to file an appeal against the order.
HG Infra Engineering: The company has received a letter from Central Railway for the construction of a new broad gauge line between Dhule (Borvihir) and Nardana (approximately 49.45 km) on the Central Railway in Engineering & Procurement (EPC) mode. The project cost is Rs 716.11 crore, with a construction period of 30 months.
BLS International: BLS International Services Limited has signed an agreement to acquire a 100 percent stake in Citizenship Invest, a Dubai-based firm specializing in investor programs for residence and citizenship in over 15 countries. The acquisition, valued at $31 million (approximately Rs 260 crore), will be funded through internal accruals and is expected to be completed by October 31, 2024, pending approvals.
HCL Technologies: The company has announced the acquisition of a 100 percent stake in Zeena SAS, a software company based in Paris, France, at an enterprise valuation of EUR 23.9 million.
Wipro: The company has allotted 4,239 equity shares under the ADS Restricted Stock Unit Plan 2004. It has also allotted 54,464 equity shares under the Restricted Stock Unit Plan 2007 on September 12.