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PRE-MARKET REPORT
The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open higher on Thursday following positive cues from global peers.
Gift Nifty was trading around the 23,460 level, a premium of nearly 100 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.
The US stock market ended mixed on Wednesday, with the S&P 500 and Nasdaq posting record closing highs for a third straight day, after the Federal Reserve policy outcome and softer-than-expected inflation data.
The S&P 500 gained 45.71 points, or 0.85%, to 5,421.03 and the Nasdaq Composite surged 264.89 points, or 1.53%, to 17,608.44. The Dow Jones Industrial Average ended 35.21 points, or 0.09%, lower at 38,712.21.
Asian markets traded higher on Thursday following overnight gains on Wall Street after the US Fed interest rate decision.
Japan’s Nikkei 225 rose 0.56%, while the Topix was flat. South Korea’s Kospi rallied 1.39%, while the Kosdaq gained 0.6%. Hong Kong Hang Seng index futures indicated higher opening.
STOCKS TODAY
Dr Reddy’s Laboratories: The company has signed a licensing agreement with US-based Ingenus Pharmaceuticals to commercialize Cyclophosphamide injection, a cancer treatment. Under the agreement, Dr Reddy’s will commercialize the injection for the US market and pay Ingenus 50% of the calculated profit share.
Gensol Engineering: The company emerged as the successful bidder for Gujarat Urja Vikas Nigam’s 250 MW (500 MWh) Battery Energy Storage Project worth ₹1,340 crore. The project will supply electricity to Gujarat State’s DISCOMs during peak and off-peak hours.
Tata Motors: Jefferies’ latest report states that Tata Motors’ India business, which was a significant drag in the past decade, now forms 50% of the price target set by the brokerage for FY26. The company shared its plans to raise its market share in passenger vehicles and increase its non-vehicle revenues in commercial vehicles during its presentation on India Investor Day.
Sobha Limited: The company’s board has approved a rights issue of equity shares worth ₹2,000 crores. The issue price is set at ₹1,651 per share, a 25% discount, and will be open from June 28 to July 4. Six rights equity shares will be issued for every 47 fully paid-up equity shares held by eligible shareholders.
NBCC (India): The company has secured a ₹100 crore contract from Oil India to construct a centralized core repository with advanced laboratory facilities at Guwahati in Assam.
Torrent Pharmaceuticals: The company announced on Wednesday that it has received a Form 483 with five observations from the US FDA following an inspection of its manufacturing plant in Indrad, Gujarat.