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PRE-MARKET REPORT
The domestic equity indices, Sensex and Nifty 50, are expected to open higher on Monday following gains in Asian peers amid mixed global cues.
The US stock market ended mixed on Friday with the S&P 500 and Nasdaq falling for six straight sessions.
The Dow Jones Industrial Average gained 211.02 points, or 0.56%, to 37,986.40, while the S&P 500 declined 43.89 points, or 0.88%, to 4,967.23. The Nasdaq Composite ended 319.49 points, or 2.05%, lower at 15,282.01.
Asian markets traded higher on Monday as focus shifted to a slew of company earnings and economic data this week.
Japan’s Nikkei 225 gained 0.86%, while the Topix rallied 1.44%. South Korea’s Kospi jumped 1.13% and the Kosdaq rose 1.04%. Hong Kong’s Hang Seng index futures indicated a positive opening.
STOCKS TODAY
Zomato: The food delivery giant has received an order for GST demand of Rs 5.9 crore with interest and a penalty of Rs 5.9 crore from the Additional Commissioner, Central Goods and Services Tax, Gurugram, for the period July 2017 to March 2021.
HDFC Bank: The private sector lender has recorded a standalone net profit of Rs 16,511.9 crore for the quarter ended March FY24, growing 0.9 percent over the previous quarter, impacted by significantly higher provisions. Net interest income for the quarter, at Rs 29,077 crore, increased by 2.1 percent over the previous quarter. On the asset quality front, the gross NPA dropped by 2 bps QoQ to 1.24 percent, but the net NPA rose 2 bps to 0.33 percent for the quarter.
Ircon International: The company has received a VAT demand of Rs 42.87 crore for its RCF Raebareli project for the year 2014–15. The company prefers an appeal against this demand order in the Tribunal, Bench-II, Commercial Tax Department, Lucknow.
Dr Reddy’s Laboratories: The global pharma company has launched the condition management program DailyBloom IBS. DailyBloom IBS is India’s first integrated care plan for irritable bowel syndrome (IBS). IBS is a functional gastrointestinal disorder characterized by abdominal pain, bloating, and altered bowel habits.
Sterling and Wilson: The company posted a net profit of Rs 1.4 crore in Q4 as against a net loss of Rs 421.11 crore in the year-ago period. A spike in revenue helped the company report a net profit in the quarter gone by. During Q4, the company’s total income increased to Rs 1,211.40 crore from Rs 86.36 crore a year ago.
Yes Bank: The lender has received income-tax computational statements from the Jurisdictional Assessing Officer, determining a refund of Rs 284.21 crore (including interest of Rs 113.44 crore) pertaining to AY 2011-12 to AY 2013-14. The income-tax department has appealed against the Income-tax Appellate Tribunal’s (ITAT) consolidated order before the Bombay High Court.
Jio Financial Services: The financial services company recorded a profit of Rs 310.6 crore for the quarter ended March FY24, growing 5.7 percent over the previous quarter. Interest income for the quarter at Rs 280.7 crore increased by 4.3 percent, and total revenue from operations rose by 1 percent to Rs 418.1 crore compared to the December FY24 quarter.
UltraTech Cement: The company has announced the acquisition of a grinding unit from India Cements. The unit, having an installed capacity of 1.1 million metric tonnes per annum (mtpa) and a captive railway siding, is situated in Parli, Maharashtra. The acquisition, valued at ₹315 crore, was finalized through an Asset Purchase Agreement between UltraTech Cement and India Cements.