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PRE-MARKET REPORT
The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open higher on Monday following upbeat sentiment in global markets.
Gift Nifty was trading around 24,666 level, a premium of nearly 68 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.
The US stock market ended higher on Friday, extending its biggest weekly percentage gains of the year, with the S&P 500 and the Nasdaq notching their seventh straight session of gains.
The Dow Jones Industrial Average gained 96.7 points, or 0.24%, to 40,659.76, while the S&P 500 rose 11.03 points, or 0.20%, to 5,554.25. The Nasdaq Composite ended 37.22 points, or 0.21%, higher at 17,631.72.
Asian markets traded mixed on Monday after a broad rally last week and as investors await key economic data in the region. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.2%, having rallied 2.8% last week.
Japan’s Nikkei 225 recouped early losses to trade flat, while the Topix fell 0.1%. South Korea’s Kospi dropped 0.17% lower, and the Kosdaq declined 0.46%. Hong Kong’s Hang Seng index futures indicated a higher opening.
STOCKS TODAY
GMR Airports Infrastructure: Passenger traffic across all airports in July grew by 7.7% YoY to 1.06 crore, with domestic passenger traffic up 7.1% and international passenger traffic rising 9.3%. Aircraft movements increased by 6% YoY and 2% MoM to 68,755.
Samvardhana Motherson International: The company’s subsidiary, Samvardhana Motherson Innovative Solutions, has acquired a 34% stake in Motherson Auto Solutions from Sojitz Corporation. Following the acquisition, Motherson Auto Solutions has become an indirect wholly-owned subsidiary of the company.
Adani Enterprises: The Management Committee of the company has approved the public issuance of non-convertible debentures amounting to up to Rs 400 crore, with an option to retain over-subscription up to Rs 400 crore, aggregating up to Rs 800 crore.
Bank of Maharashtra: The Reserve Bank of India has imposed a monetary penalty of Rs 1.27 crore on the Bank of Maharashtra for non-compliance with certain directions issued by the RBI on ‘Loan System for Delivery of Bank Credit, Cyber Security Framework in Banks,’ and ‘Know Your Customer.
Hindustan Zinc: Promoter Vedanta has decided to exercise the oversubscription option in the offer-for-sale of Hindustan Zinc to the extent of 1,21,65,562 equity shares (representing 0.29% of paid-up equity share capital). This is in addition to 5,14,40,329 equity shares (1.22% stake) forming part of the base offer size. Accordingly, the total offer size will be up to 6,36,05,891 equity shares (1.51% stake), of which 63,60,590 equity shares of the offer will be reserved for allocation to retail investors on August 19.
Techno Electric and Engineering Company: The company has partnered with IndiGrid to collaboratively undertake the development of two of IndiGrid’s greenfield interstate transmission system (ISTS) projects. Under this partnership, Techno Electric will co-develop and invest in IndiGrid’s two ISTS projects, i.e., Ishanagar Power Transmission (IPTL) and Dhule Power Transmission (DPTL). Techno will invest minority capital and will also be responsible for the complete execution of the projects on a lump sum turnkey (LSTK) basis