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PRE-MARKET REPORT
The domestic equity market indices, Sensex and Nifty 50, are expected to open higher on Monday tracking gains in global markets and after a sharp slump seen last week.
Gift Nifty was trading around the 25,260 level, a premium of nearly 70 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, with the Dow Jones posting a record closing high. The Dow Jones Industrial Average rallied 341.16 points, or 0.81%, to 42,352.75, while the S&P 500 rose 51.13 points, or 0.90%, to 5,751.07. The Nasdaq Composite closed 219.37 points, or 1.22%, higher at 18,137.85.
Asia markets traded mixed on Monday led by Japanese stocks. Japan’s Nikkei 225 gained 2.03% and the Topix index rose 1.62%. South Korea’s Kospi fell 0.28%, while the Kosdaq rose 0.37%. Hong Kong Hang Seng index futures indicated a lower opening.
STOCKS TODAY
GAIL (India): The company has signed an MoU with AM Green to jointly develop up to 2.5 GW renewable energy projects and green chemical projects. The partnership focuses on the long-term supply of carbon dioxide (CO2) for eMethanol production and the exploration of hybrid renewable energy projects across India.
Antony Waste Handling Cell: The company’s material subsidiary, AG Enviro Infra Projects, has secured a contract worth Rs 908 crore for door-to-door collection and transportation (C&T) of municipal solid waste from Navi Mumbai Municipal Corporation. The contract is for a duration of nine years.
BLS International Services: The company has completed the acquisition of a 100% stake in Citizenship Invest, a Dubai-based firm specializing in fast-track investor programs for residency and citizenship across more than 15 countries, for $31 million (Rs 260 crore).
Gravita India: The board has approved raising up to Rs 1,000 crore through the issuance of equity shares. Additionally, the board has appointed Sunil Kansal as Whole Time Director, effective October 4, re-designated Rajat Agrawal as Chairman and Managing Director, and accepted the resignation of Mahavir Prasad Agarwal as Chairman and Whole Time Director, effective October 5.
Mahanagar Telephone Nigam (MTNL): The State Bank of India has downgraded MTNL’s term loan account to a non-performing asset (NPA) as of September 28, due to non-payment of interest and installments. The total outstanding amount is over Rs 325.52 crore as of September 30, with an overdue amount of Rs 281.62 crore.
Bank of Maharashtra: The public sector lender closed its Qualified Institutions Placement (QIP) issue on October 4. The board has approved the allotment of 61.01 crore equity shares to eligible qualified institutional buyers (including LIC, ICICI Prudential Life Insurance Company, and Aditya Birla Sun Life Insurance) at a price of Rs 57.36 per share, amounting to Rs 3,500 crore.