Pre Market Analysis: Dalal street may open higher; Coal India, IndiGo, TCS and Vodafone Idea in news today

Market Opening - An Overview

SGX Nifty futures jumped 1.43 per cent to 16,470, indicating that Dalal Street was headed for a gap-up start on Friday.

Most Asian shares were trading higher, tracking Wall Street gains overnight, amid escalation of the Russia-Ukraine crisis and Western sanctions on Moscow. Nikkei jumped 1.47%, Topix rose 0.71%, Hang Seng fell 0.23% and CSI 300 was up 1.4%.

Indian rupee fell Rs 1.1 to 75.65 against the US dollar on Thursday.

FII/DII Trading Data (24-02-2022)

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*All numbers are in INR crore

Stocks in News Today

Coal India: The state-owned company is considering offering more than 100 closed, discontinued mines to the private sector on revenue sharing basis in due course of time, the coal ministry said. The ministry said that the collaboration with the private sector will enhance productivity and lead to production of additional dry fuel required for the development of the country.

IndiGo: The budget carrier said it has partnered with online travel services firm MakeMyTrip for its holiday offerings for both domestic and international travellers. Under the collaboration, IndiGo passengers will be offered a wide choice of airline and hotel packages to various segments of travellers ranging from leisure, pilgrimage, adventure and business, IndiGo said.

Tata Consultancy Services (TCS): India’s largest Indian IT services company has elevated Suresh Muthuswami to the post of chairman for the North America business, which accounts for the biggest chunk of revenue for the company. He will take charge from TCS North America chairman Surya Kant, who will retire at the end of the current financial year after a stint of 43 years at the firm.

Vodafone Idea Ltd (VIL): The telco announced a collaboration with A5G Networks, with a view to spurring industry 4.0 and smart mobile edge computing in India. The two companies have jointly set up a pilot private network in Mumbai utilising existing 4G spectrum, according to a statement.

IDFC FIRST Bank: The private-sector bank and Hero Electric has joined hands for vehicle finance. The collaboration allows Hero Electric customers to avail an instant loan on KYC with low processing fees and down payment.

MMTC Ltd: The company MMTC-PAMP, a JV between state-owned MMTC Ltd and Switzerland-based bullion brand PAMP SA, said it is aiming at a revenue of Rs 1,000 crore from the eastern region in the next five years. Over the next five years, the company aims at earning a revenue of Rs 1,000 crore in the eastern region, and expand into key regional markets by targeting Jharkhand, Bihar and the northeast, MMTC-PAMP said in a release.

Wipro Ltd: The IT services firm announced over 500 technology jobs in Brazil in the next fiscal year, to support growth in delivering cloud solutions to clients. The company will be hiring throughout Brazil, for a slew of roles ranging from IT and engineering to consulting, business development and operations.

IFCI Ltd: Infrastructure term lender has approved allotment of preferential shares to the government in lieu of capital infusion of Rs 100 crore in the company. The decision was taken at extraordinary general meeting (EGM) of the shareholders of the company, IFCI said in a regulatory filing.

Cadila Healthcare Ltd: The Zydus group has announced its new brand identity with the name of the listed entity of the group Cadila Healthcare Ltd. being changed to Zydus Lifesciences Ltd. According to Sharvil Patel, Managing Director, Zydus Lifesciences Ltd., the new brand identity centres around the company’s work in global lifesciences backed by innovation, science and technology.