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PRE-MARKET REPORT
The domestic equity indices, Sensex and Nifty 50, are expected to open higher on Monday amid tracking positive global market cues. Further, Gift Nifty also was trading above the previous close of Nifty futures, indicating a positive start for the Indian stock market indices.
The US stock market indices ended mixed on Thursday with the S&P 500 notching its strongest first quarter in five years.
The Dow Jones Industrial Average gained 47.29 points, or 0.12%, to 39,807.37, while the S&P 500 rose 5.86 points, or 0.11%, to 5,254.35. The Nasdaq Composite ended 20.06 points, or 0.12%, lower at 16,379.46.
Asian markets traded higher on Monday as investors assessed key economic data from China and Japan.
Japan’s Nikkei 225 gained 0.41%, while the Topix declined 0.28%. South Korea’s Kospi rose 0.36%, and the Kosdaq added 0.63%. Hong Kong markets are shut for Easter Monday.
STOCKS TODAY
Rail Vikas Nigam: The state-owned railway company has emerged as the lowest bidder for the upgrade of the electric traction system for the Kharagpur section of the Kharagpur division of South Eastern Railway to meet the 3,000 MT loading target. The cost of the work is Rs 148.27 crore. Further, the company also emerged as the lowest bidder for the project worth Rs 95.95 crore from NFR-Const HQ-Electrical/NF RLY Construction.
Infosys: The IT services company has received orders from the Income Tax Department, for assessment years 07-08 to 15-16, 17-18 & 18-19 during the March quarter. As per the orders, the company expects a refund of Rs 6,329 crore (including interest). Also, the company has received an assessment order for assessment years 22-23 with a tax demand of Rs 2,763 crore (including interest), and for assessment years 11-12 with a tax demand of Rs 4 crore.
Hindustan Aeronautics: The state-owned defense company has signed a contract worth Rs 1,173.42 crore with Cochin Shipyard, Kochi, for the supply of six sets of LM2500 gas turbines (GT) and GT auxiliaries (GTAE), spares, and tools for the Indian Navy Next Generation Missile Vessel (NGMV) Project.
Torrent Power: The company has received a letter of award from Torrent Power Limited-Distribution Unit for setting up 150 MW (RE Power) grid-connected wind and solar hybrid projects under the Greenshoe option. The project will be commissioned within 24 months of the power purchase agreement, and the contract period will be 25 years from the commissioning of the project.
Asian Paints: The paint manufacturing company has received board approval for the subscription to 4.79 crore equity shares of subsidiary Asian Paints International, Singapore, for SGD 32.1 million (Rs 200 crore). These shares will be issued and allotted at SGD 0.67 per share.
Zomato: The food delivery giant has received an order for demand of GST of Rs 11.27 crore, along with applicable interest and penalty totaling Rs 23.26 crore, from the Assistant Commissioner of Commercial Taxes (Audit), Karnataka. The company believes that it has a strong case to defend the matter before the appellate authority and does not expect any financial impact.
NTPC: The state-run power generation company has discontinued the operation of NTPC Barauni thermal power station Stage-I (2×110 MW), with effect from March 31. The said thermal power station was comprised of two units (Unit 6 and 7) of 110 MW each.