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PRE-MARKET REPORT
The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open higher at record levels on Wednesday following upbeat global market cues.
Gift Nifty was trading around the 23,660 level, a premium of over 90 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.
The US stock market ended higher on Tuesday, with the S&P 500 and Nasdaq closing at record highs, buoyed by a rally in chip stocks.
The Dow Jones Industrial Average gained 56.76 points, or 0.15%, to 38,834.86, while the S&P 500 rose 13.80 points, or 0.25%, to 5,487.03. The Nasdaq Composite ended 5.21 points, or 0.03%, higher at 17,862.23.
Asian markets traded higher on Wednesday tracking overnight gains on Wall Street. Japan’s Nikkei 225 rose 0.61%, while the Topix gained 0.56%. South Korea’s Kospi rallied over 1% and Kosdaq added 0.27%. Hong Kong Hang Seng index futures indicated a higher opening.
STOCKS TODAY
Indus Towers: Vodafone Group Plc will sell a 9.94% stake in Indus Towers through a bulk deal at a price range of ₹310- ₹341 per share. The sale, which is slated to open on Wednesday, is managed by Morgan Stanley, BofA Securities, Jefferies, and BNP Paribas.
Housing and Urban Development Corporation: HUDCO has raised $200 million (JPY 30 billion) in its first venture into the syndicated loan market. The state-run body raised the five-year funds as part of its inaugural “social loan”, according to Japan’s Sumitomo Mitsui Banking Corporation (SMBC).
Vodafone Idea: The company will urge the government to convert into equity the annual installment for spectrum payments for FY26/FY27 that will fall due after the moratorium ends by September 2026.
Birla Cables: The company may face an 8.7% provisional anti-dumping duty on the CIF Union border price proposed by the European Commission. If implemented, exports of single-mode optical fiber cables to the European Union will be subject to this duty.
Tech Mahindra: The Mahindra group is planning to “unlock the full potential” of Tech Mahindra through cross-selling and synergies within the group. Tech Mahindra is planning to leverage the group relationships to expand its network. The company has a strong presence across auto original equipment manufacturers, T1 (tier-1), industrial, process manufacturing, and A&D (aerospace and defence).
Vikram Solar: The company has won an order to supply 393.9 MWp solar modules for NLC India’s solar project in Gujarat. This order takes Vikram Solar’s total PV module supply contract to the Khavda Solar Park to over 1 GW.