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PRE-MARKET REPORT
The domestic equity market indices, Sensex and Nifty 50, are expected to open higher on Friday following gains in global markets.
Gift Nifty was trading around 25,286 level, a premium of nearly 16 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.
The US stock market ended mixed on Thursday, with the Dow notching a record high close. The Dow Jones Industrial Average gained 0.59% to 41,335.05, an all-time closing high, while the S&P 500 index ended barely changed at 5,591.96. The Nasdaq ended 0.23% lower at 17,516.43.
Asian markets traded higher on Friday tracking a slew of economic data from Japan. Japan’s Nikkei 225 gained marginally, and the Topix rose 0.23%. South Korea’s Kospi added 0.55%, while the Kosdaq rose 0.74%. Hong Kong Hang Seng index futures indicated a lower opening.
STOCKS TODAY
Tata Steel: The Tata Group company has acquired 13,000 equity shares (i.e., a 26% equity stake) in TP Parivart for Rs 1.3 lakh. TP Parivart is a subsidiary of Tata Power Renewable Energy.
NTPC: Step-down subsidiary NTPC REL has commenced commercial operations for the first part capacity of 160 MW out of the 320 MW Bhainsara solar PV project in Jaisalmer, Rajasthan. With this, the total installed and commercial capacity of the NTPC group has now reached 76,294 MW.
ITI: The state-owned telecom manufacturing company has secured its first electronic voting machine (EVM) order from the State Election Commission (SEC) of West Bengal to supply 500 sets of electronic voting machines.
Shipping Corporation of India: The company has received an order from the Department of Goods and Services Tax, Maharashtra, demanding tax and a penalty of Rs 160.37 crore after conducting the GST audit for FY20. The company is in the process of filing an appeal before the Joint Commissioner of State Tax.
Jai Corp: The company has received approval from the Board of Directors for the buyback of up to 29.44 lakh shares (equivalent to 1.65% of total equity) for up to Rs 177.8 crore, for Rs 400 per share. The record date for the buyback has been set as September 10.
Lemon Tree Hotels: The hotel chain has signed a License Agreement for a 72-room hotel property in Ayodhya, Uttar Pradesh. Its subsidiary, Carnation Hotels, will manage the property and is expected to open in FY26.