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PRE-MARKET REPORT
The domestic equity market benchmark indices, Sensex and Nifty 50, are expected to open higher on Tuesday following global market gains, rebounding from sharp losses seen in the previous session.
Gift Nifty was trading at around 23,775 levels, a premium of nearly 55 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.
The US stock market ended mixed on Monday, amid a rally in semiconductor stocks. The Dow Jones Industrial Average eased 25.57 points, or 0.06%, to 42,706.56, while the S&P 500 gained 32.91 points, or 0.55%, to 5,975.38. The Nasdaq Composite ended 243.30 points, or 1.24%, higher at 19,864.98.
Asian markets traded higher on Tuesday, following an overnight tech rally on Wall Street. Japan’s Nikkei 225 rallied 1.96%, while the Topix rose 0.73%. South Korea’s Kospi surged 1.21%, and Kosdaq gained 0.34%. Hong Kong’s Hang Seng index indicated a weaker opening.
STOCKS TODAY
IndiGo: India’s largest airline, IndiGo, disclosed receiving an order from the Principal Commissioner of Customs, Air Cargo Complex (Import), imposing a penalty of ₹2.17 crore. The penalty stemmed from the customs authority denying duty exemption on imported aircraft parts. IndiGo reported receiving the order on January 4, 2025, at its Gurgaon corporate office, which was a non-working day. The company subsequently filed the disclosure on the first working day, January 6, 2025.
ICICI Securities: ICICI Securities resolved an alleged violation of stock brokers’ rules with the Securities and Exchange Board of India (SEBI) by paying ₹40.2 lakh as settlement charges. According to SEBI’s settlement order, ICICI Securities opted to settle the matter without admitting or denying the alleged violations. SEBI’s adjudicating officer, Amit Kapoor, noted the adjudication proceedings initiated against the company in May 2024 were disposed of following the settlement terms.
Vodafone Idea: Debt-ridden telecom operator Vodafone Idea Ltd announced the sale of its entire 50 percent stake in Firefly Networks Ltd to iBUS Network and Infrastructure Pvt Ltd for ₹4.5 crore. The deal, expected to close within 30 business days, marks Vodafone Idea’s exit from this joint venture with Bharti Airtel Ltd. Post-transaction, Firefly Networks will cease to be a joint venture of Vodafone Idea.
Bharti Airtel: Bharti Airtel Ltd disclosed its decision to sell its 50 percent stake in Firefly Networks Ltd to iBUS Network and Infrastructure Pvt Ltd. The ₹45 million deal was formalized through a Share Purchase Agreement on January 6, 2025, and is expected to close within 30 business days. Airtel clarified that the transaction does not involve any related parties and complies with SEBI’s Listing Obligations and Disclosure Requirements (LODR).
Power Grid: State-owned Power Grid Corporation of India Ltd announced being the successful bidder under the Tariff Based Competitive Bidding (TBCB) process for two major inter-state transmission projects. The projects, based in Gujarat and Karnataka, will be executed under the Build, Own, Operate, and Transfer (BOOT) model, aimed at upgrading India’s power transmission infrastructure.
Caplin Point: Caplin Point Laboratories Ltd announced receiving the Establishment Inspection Report (EIR) from the US Food and Drug Administration (FDA) for its injectable and ophthalmic manufacturing facility in Gummidipoondi, Tamil Nadu. The clearance follows a successful inspection of the facility under Caplin Steriles, as disclosed in a regulatory filing.