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Gift Nifty suggests a good start for Indian markets, at 24,844, an increase of 95 points or 0.39%, indicating a good beginning to the trading session.
Global Market Overview:
US major indices closed lower even as the day began on an optimistic note. S&P 500 closed 0.56% lower at Rs 5,888.55, while Nasdaq Composite closed 0.51% lower at Rs 19,100.94. The Dow Jones Industrial Average fell by 244.95 points or 0.58%, closing at Rs 42,098.70. The declines despite investors’ expectations of information from the Federal Reserve minutes and a new batch of corporate earnings. Importantly, the U.S. Federal Trade Court ruled against Trump-era reciprocal tariffs, contributing to market volatility.
Asian Markets:
Asian markets started the day on a firm footing, following overnight leads from the U.S. Japan’s Nikkei took the lead, gaining 1.7% in initial trade. Hong Kong’s Hang Seng Index and China’s Shanghai Composite gained 0.5% each.
Stocks in News:
RITES Ltd:
RITES has inked a Memorandum of Understanding (MoU) with Shree Cement to jointly work on rail infrastructure development and allied services.
IndusInd Bank:
SEBI has prohibited former IndusInd Bank MD & CEO Sumant Kathpalia, former Deputy CEO Arun Khurana, and three other former senior executives from the bank for suspected insider trading.
SAIL (Steel Authority of India Ltd)
The company has posted a robust performance for the quarter, with net profit increasing 11.1% year-on-year at Rs 1,251 crore, as against Rs 1,125.7 crore in the corresponding quarter last year. The revenue of the company also increased by 4.9% at Rs 29,316.1 crore versus Rs 27,958.5 crore in the last year.
Avanti Feeds:
The company has reported a robust set of figures for the fourth quarter. Consolidated net profit rose 39.6% year-on-year to Rs 157.2 crore from Rs 112.6 crore. Revenue in the quarter rose 7.9% to Rs 1,385.1 crore, against Rs 1,283.5 crore in the comparable period last year. The board has also declared a dividend of Rs 9 per share for FY25.
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