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PRE-MARKET REPORT
The domestic equity market is expected to open higher on Thursday tracking positive cues from global peers.
Gift Nifty was trading around the 24,460 level, a premium of nearly 95 points from the Nifty futures’ previous close, indicating a gap-up start for the Indian stock market indices.
US stock market indices ended mixed on Wednesday with the S&P 500 index and Nasdaq posting record high closes.
The Dow Jones Industrial Average fell 23.85 points, or 0.06%, to close at 39,308.00, while the S&P 500 rose 28.01 points, or 0.51%, to 5,537.02. The Nasdaq Composite ended 159.54 points, or 0.88%, higher at 18,188.30.
Asia markets traded higher on Thursday with Japan’s Topix crossing an all-time high.
The Topix jumped 0.56%, while the Nikkei 225 rose 0.55%. South Korea’s Kospi rallied 0.98%, while the Kosdaq gained 0.75%. Hong Kong Hang Seng index futures indicated a higher opening.
STOCKS TODAY
Bandhan Bank: The bank recorded 21.8% year-on-year (YoY) and 0.7% quarter-on-quarter (QoQ) growth in loans and advances at Rs 1,25,619 crore for Q1FY25. Total deposits fell 1.5% QoQ but grew 22.8% YoY to Rs 1,33,203 crore in Q1. CASA deposits registered a 13.8% YoY growth, and retail deposits (including CASA) rose 19.2% YoY, while bulk deposits jumped 31.6% YoY for the quarter.
Bajaj Finance: The non-banking finance company has recorded assets under management (AUM) at Rs 3.54 lakh crore for Q1FY25, growing 31% over the year-ago period. The deposits book at Rs 62,750 crore increased by 26% compared to Q1FY24. Net liquidity surplus was Rs 16,200 crore as of June 2024. New loans booked during Q1FY25 grew by 10% YoY to 10.97 million.
L&T Finance: The retailisation in Q1FY25 is estimated at 95% against 82% in Q1FY24. Retail disbursements for Q1FY25 are estimated at Rs 14,830 crore, growing 33% YoY, and the retail loan book at the end of the June FY25 quarter is estimated at Rs 84,440 crore, a growth of 31% YoY.
Vedanta: The cast metal aluminum production at the company’s smelters stood at 5.96 lakh tonnes, up 3% YoY due to better operational performance, while the alumina production at Lanjigarh refinery was at 5.39 lakh tonnes, growing 36% YoY driven by new capacity. Oil and gas production for the quarter was down 17% YoY.
Brigade Enterprises: The Bengaluru-based real estate developer has signed a Joint Development Agreement for a residential project spread across 8 acres with a total development potential of around 1.2 million square feet. The gross development value of the project is around Rs 1,100 crore.
Marico: The FMCG company announced a collaboration with Kaya to scale up its play in advanced science-backed personal care, aiming to build an omnichannel presence of Kaya’s product range by leveraging Marico’s sales and marketing capabilities.