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PRE-MARKET REPORT
Indian markets are likely to open on a positive note on Tuesday following gains in Asian peers ahead of this week’s U.S. inflation data.
Gift Nifty was trading at 22,800 level, 50 points higher than the Nifty futures’ previous close, indicating a strong start for benchmark Nifty.
US stock market indices ended Monday’s choppy session flat ahead of the crucial inflation data later this week.
The Dow Jones Industrial Average eased 11.24 points, or 0.03%, to 38,892.80, while the S&P 500 fell 1.95 points, or 0.04%, to 5,202.39. The Nasdaq Composite ended 5.44 points, or 0.03%, higher at 16,253.96.
Asian markets traded higher on Tuesday. Japan’s Nikkei 225 rose 0.67%, while the Topix gained 0.63%. South Korea’s Kospi added 0.61% and the Kosdaq rose 0.59%. Hong Kong’s Hang Seng index futures indicated a weaker opening.
STOCKS TODAY
Sula Vineyards: The country’s largest winemaker has recorded 10 percent growth in net revenue for Q4 as well as FY24. Net revenue for the March FY24 quarter stood at Rs 131.8 crore against Rs 120 crore in the same period last year, while full-year revenue came in at Rs 608.6 crore against Rs 553.4 crore in the previous year.
Axis Bank: Bain Capital is all set to make a complete exit from the private sector lender as the US private equity major looks to dilute its balance stake and launch a fresh block deal of around $430 million, three people in the know told Moneycontrol. The offer price range is Rs 1,071–Rs 1,076.05 per share.
UCO Bank: The bank has reported total business at Rs 4.50 lakh crore for the quarter ended March FY24, growing 9.62 percent over the same period last fiscal, with total advances increasing 15.92 percent YoY to Rs 1.87 lakh crore and deposits rising 5.53 percent to Rs 2.63 lakh crore during the same period.
HG Infra Engineering: The company has incorporated a wholly owned subsidiary, H G Chennai-Tirupati (II) Highway, as a special purpose vehicle (SPV) to undertake the highway project worth Rs 862.11 crore awarded by the National Highways Authority of India (NHAI) in Andhra Pradesh in Hybrid Annuity Mode.
NCL Industries: The company said cement production grew by 4 percent year-on-year to 7.30 lakh MT, and cement dispatches rose by 4 percent to 7.39 lakh MT for the quarter ended March FY24. Cement board production increased by 17 percent to 21,976 MT, and dispatches were up 5 percent to 21,651 MT during the same period.
Dixon Technologies (India): The company has entered into a share purchase agreement with Ismartu Singapore, Transsion Technology, 5A Advisors LLP, and Ismartu India for the acquisition of a 50.1 percent stake in Ismartu India, the electronics and mobile device manufacturer. The transaction will be subject to the approval of the Competition Commission of India.
RBL Bank: Foreign investor Citigroup Global Markets Mauritius has bought 66.97 lakh equity shares (equivalent to 1.11 percent of total paid-up equity) in the private sector lender at an average price of Rs 255.4 per share via open market transactions, amounting to Rs 171.04 crore. Copthall Mauritius Investment was the seller in the deal.