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PRE-MARKET REPORT
The domestic equity benchmark indices Sensex and Nifty 50 are expected to open tepidly on Wednesday following mixed cues from global markets.
Gift Nifty was trading at around 24,525 levels, a discount of nearly 20 points from the Nifty futures’ previous close, indicating a tepid start for the Indian stock market indices.
US stock market indices ended mixed on Tuesday, with the S&P 500 and Nasdaq attaining record closing highs led by tech-related shares.
The Dow Jones Industrial Average fell 76.47 points, or 0.17%, to 44,705.53, while the S&P 500 rose 2.73 points, or 0.05%, to 6,049.88. The Nasdaq Composite ended 76.96 points, or 0.40%, higher at 19,480.91.
Asian markets traded mixed on Wednesday amid political disruptions in South Korea. Japan’s Nikkei 225 fell 0.1% and the Topix declined 0.2%. South Korea’s Kospi index dropped 1.6% while the Kosdaq fell 1.9%. Hong Kong Hang Seng index futures indicated a higher opening.
STOCKS TODAY
RVNL: The company received a letter of acceptance from East Central Railway for the design, supply, erection, testing, and commissioning of traction substations with associated switching posts for upgradation work of the electric traction system from 1X25 to 2X25 KV AT feeding system in Gomoh – Patratu Section of the Dhanbad Division of East Central Railway.
PB Fintech: On December 3, the company informed that it had approved the foray into healthcare services by setting up a wholly owned subsidiary, PB Healthcare. The new entity has sought approval to be named ‘PB Healthcare Private Limited’ or ‘PB Healthcare Services Private Limited’ or any other name as may be approved by the Ministry of Corporate Affairs.
Swiggy: The company announced its July-September quarter results for fiscal 2024-25 (Q2FY25) on Tuesday, December 3, reporting a consolidated net loss of ₹625.5 crore driven by robust order growth in both its food delivery and quick commerce segments, compared to a loss of ₹657 crore in the corresponding period last year.
Mahindra and Mahindra: InterGlobe Aviation Ltd, which runs India’s largest airline, IndiGo, has filed a trademark infringement case against Mahindra Electric Automobile Ltd in the Delhi High Court over the use of ‘6E’ in the automaker’s upcoming electric car model, BE 6e, slated for deliveries in late February next year.
Kaynes Technology: The company announces the acquisition of a controlling stake (54%—Fifty-Four Percentage) by its wholly owned subsidiary Kaynes Holding Pte. Ltd. (“Kaynes Singapore”) in Sensonic GmbH, Austria, by way of subscription of shares.