Indian equity markets are set to open lower on Tuesday, as suggested by Nifty futures traded at the Gift Nifty exchange in Gandhinagar. Nifty futures fell 0.05 per cent or 12 points, indicating a subdued opening for the benchmark indices Sensex and Nifty.
Most Asian markets were trading higher: Japan’s Nikkei rose 2.31%, Australia’s S&P/ASX 200 gained 0.12% and Hong Kong’s Hang Seng rose 0.15%. However, South Korea’s KOSPI fell 0.09%.
Meanwhile, Wall Street closed mixed on Monday as investors prepared for an important week of US economic data releases, particularly the consumer price index, which could influence future monetary policy decisions by the Federal Reserve.
The Dow Jones Industrial Average fell, while the S&P 500 and the tech-heavy Nasdaq Composite closed higher. The small-cap Russell 2000 Index fell 0.9%. Specifically, the S&P 500 rose 0.23 points to 5,344.39, the Nasdaq Composite added 35.31 points, or 0.21%, to 16,780.61, and the Dow Jones Industrial Average fell 140.53 points, or 0.36%, to 39,357.01.
In domestic trading, foreign institutional investors were net sellers of Indian stocks on Monday, offloading shares worth Rs 4,680.51 crore. In contrast, domestic institutional investors bought shares worth Rs 4,477.73 crore.
Actions to take into account
Vodafone Idea In the first quarter of FY25, the company posted a net loss of Rs 6,432 crore, an improvement from the loss of Rs 7,675 crore in the previous quarter. Revenue fell 1 per cent to Rs 10,508 crore from Rs 10,607 crore, while EBITDA declined 3 per cent to Rs 4,205 crore from Rs 4,335 crore. EBITDA margin narrowed slightly to 40 per cent from 40.9 per cent.
Hindustan Copper The company posted strong first quarter results with revenues up 33.15 per cent year-on-year to Rs 494 crore from Rs 371 crore. The company’s EBITDA more than doubled, rising 103.22 per cent to Rs 189 crore from Rs 93 crore, lifting the margin to 38.25 per cent from 25.06 per cent. Net profit soared 140.42 per cent to Rs 113 crore from Rs 47 crore in the same period last year.
RCF The company reported an 8.7% rise in revenue to Rs 4,396 crore from Rs 4,043 crore year-on-year. However, EBITDA fell 10.3% to Rs 116 crore from Rs 129 crore, and EBITDA margin narrowed to 2.6% from 3.2%. Net profit declined significantly by 84% to Rs 10.8 crore from Rs 67.7 crore.
GR Subprojects: I received a letter of intent for a broadcasting project in Karnataka.
marico: Large-scale manufacturing operations have resumed in Bangladesh.
Crisil: It is planned to form a private entity to support SEBI-registered ESG rating service providers.
JSW Steel: It is anticipated that up to a 66.7 per cent economic interest in M Resources NSW will be acquired, with an investment of $120 million and an additional obligation of $50 million.
Aditya Birla Sun Life: Chief Financial Officer Parag Joglekar has resigned, effective September 13.
Power Grid Corporation: I received a letter of intent for a 20 GW inter-state transmission line in Rajasthan.
Kotak Mahindra Bank: Sonata Finance and BSS Microfinance, units of the bank, have approved their merger.
Green Energy KPI: It opened its QIP at a floor price of Rs 983 per share.
Jindal Stainless: Accredited as a qualified steel sheet supplier by BrahMos Aerospace.
Earnings to consider
AllCargo Logistics, Anupam Rasayan India, Apollo Hospital Enterprise and Ashoka Buildcon are likely to report their results today.
IPO Listings
Brainbees Solutions (FirstCry): The shares will debut at an issue price of Rs 465 apiece. IPO It was oversubscribed 12.22 times, driven by strong demand from institutional (19.3 times) and retail (2.31 times) investors.
Unicommerce Solutions: The shares will be listed at an issue price of Rs 108 each, with the IPO being subscribed 168.35 times, including 138.75 times by institutional investors and 130.99 times by retail investors.
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