Pre Market Report: GIFT Nifty indicates flat opening for indices; Zomato, Maruti, Shriram Finance in focus

Market Opening - An Overview

GIFT Nifty Futures on the NSE IX was trading 0.04% lower at 21,072, signalling that Dalal Street was headed for a flat start on Friday.

The Nasdaq ended sharply higher on Thursday after Alphabet and Advanced Micro Devices sparked a megacap rally on fresh optimism about artificial intelligence. Asian markets were trading mixed in the early sessionwith Nikkei down 1.5 percent, Kospi up 0.7 percent and Shanghai Composite was trading flat.

The Indian rupee raise by 4 paise to 83.41 against the US dollar on Thursday.

The Reserve Bank of India’s Monetary Policy Committee (MPC) will come out with its decision on key interest rates on December 8 in what will be the last review before the budget is presented for the financial year 2024-25 .

FII/DII Trading Data

Stocks in News Today

Zomato: Japan’s SoftBank is likely to sell Zomato shares worth $135 million via a block deal, sources told CNBC-TV18. In rupee terms, this amounts to Rs 1,125.5 crore. The shares will be sold at a price of Rs 120.50 per share.

Maruti Suzuki India: The country’s largest car maker has received an order for dropping an earlier show-cause notice from the Gujarat Goods and Services Tax (GST) Authority, demanding Rs 1.79 crore on September 29 for the period of July 2017 to March 2018 on account of the reconciliation of tax returns filed by the company.

Shriram Finance: The company has executed a master agreement for co-lending of loans to micro, small, and medium enterprises (MSMEs) borrowers under the scheme of co-lending by way of back-to-back assignments of loans and loan portfolios in tranches with the Small Industries Development Bank of India (SIDBI).

Olectra Greentech: The electric bus manufacturer has received a letter of award from Vasai Virar City Municipal Corporation, Mumbai, for the supply and maintenance of 40 electric buses. This order for the supply of 40 electric buses is on an outright sale basis and shall be delivered over a period of 7 months. The value of this supply of 40 electric buses would be Rs 62.80 crore.

IRB Infrastructure Developers: The transport infrastructure developer, IRB Infrastructure Developers, and IRB Infrastructure Trust (private InvIT) collectively recorded a toll collection of Rs 437 crore in November 2023, a growth of 19.42 percent over the toll collection of Rs 366 crore in November 2022.