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As of 3:43 p.m., the Dow Jones Industrial Average future was 0.11% higher at 44,154.00. The S&P 500 future was 0.06% higher at 6,019.50.
The Nasdaq 100 future was 0.02% higher at 21,163.50.
US: Federal Reserve Governor Adriana Kugler will speak at the 2024 Latin American Meeting, in Uruguay — 5:30 p.m.
Europe: ECB Monetary Policy Meeting Accounts — 6:00 p.m.
UK: External Bank of England Monetary Policy Committee Member Catherine Mann will speak at the Society of Professional Economists Annual Conference, in London — 6:30 p.m.
US: PPI — 7:00 p.m.
US: Weekly Umemployment Claims — 7:00 p.m.
US: Fed Richmond President Thomas Barkin will speak at an event hosted by the central bank — 7:30 p.m.
US: Energy Information Administration Weekly Natural Gas Storage Report — 9:00 p.m.
US: EIA Weekly US Crude Oil Inventories — 9:30
Europe: European Central Bank President Christine Lagarde will speak at the Choiseul Sovereignty Awards Ceremony, in Paris — 12:30 a.m.
US: Fed Chair Jerome Powell will speak at an event hosted by the central bank at Dallas — 1:30 a.m.
UK: BOE Governor Andrew Bailey will speak at the Mansion House Dinner, in London — 2:30 a.m.
US: Fed New York President John Williams will speak at an event hosted by the central bank at New York
Japan: Preliminary GDP — 5:20 a.m.
China: New Home Prices — 7:00 a.m.
China: Industria Production — 7:30 a.m.
China: Retail Sales — 7:30 a.m.
China: Unemployment rate — 7:30 a.m.
Japan: Revised Industries Production — 10:00 a.m.
Germany: Germany WPI — 12:30 p.m.
UK: GPD — 12:30 p.m.
UK: Industrial Production — 12:30 p.m.
China: Foreign Direct Investment
US: Retail sales — 7:30 p.m.
US: Fed of Boston President Susan Collins will speak at a conference hosted by the central bank at Boston— 7:30 p.m.
US: Industrial Production — 7:45 p.m.
US: Business Inventories — 8:30 p.m.
US: Fed New York President John Williams will speak at alumni event hosted by the central bank at New York — 11:45 a.m.
The NSE Nifty 50 and BSE Sensex declined for a second week in a row.
The benchmark indices ended with marginal gains on Thursday.
Eicher Motors Ltd. Hero MotoCorp Ltd., and Grasim Industries Ltd. were top gainers in the Nifty 50 index.
Hindustan Unilever Ltd., Bharat Petroleum Corp Ltd., and Britannia Industries were top losers in the NSE Nifty 50 index.
The NSE Nifty FMCG index declined 1.66% to 55,708.30, the lowest level since June 5. The index ended 1.53% down at 55,782.70.
The NSE Nifty Midcap 150 ended 0.47% higher at 20,105.25.
The NSE Nifty Smallcap 250 ended 0.79% higher at 16,801.55.
Revenue up 3% to Rs 9,330.35 crore versus Rs 9,059.48 crore.
Net profit down 24% to Rs 591.66 crore versus Rs 781.85 crore.
Ebitda down 8% to Rs 971.71 crore versus Rs 1,057.47 crore.
Margin at 10.4% versus 11.7%.
Bharat Forge Ltd. target that the European business to breakeven by year end, said Amit Kalyani, vice chairman and joint managing director. Bharat Forge have an enabling resolution of raising up to Rs 2000 crores.
Bharat Forge should be breakeven levels despite lower volumes, Kalyani said in an interview to NDTV Profit.
The Euro declined against the US dollar as market participants await the release of Eurozone GDP data, scheduled for release later today.
The Euro was down 0.27% at 1.0536 a dollar as of 2:42 p.m. The Pound sterling was down 0.33% to 1.2666 a dollar.
The dollar index, which measures the strength of the US unit against six major currencies, surged to 106.76, the highest level since Nov 1. The index was trading 0.24% higher at 106.74 as of 2:52 p.m.
In India, the need for connectivity is constantly increasing
Digital India programme has been a significant catalyst
Wireless broadband consumer base has increased considerably
Further tariff hikes are needed for the industry
Source: Akshaya Moondra, CEO at Vodafone Idea's earnings conference call.
Jyoti CNC Automation Ltd. will spend Rs 400 crore on capacity expansion over the next two fiscal years, according to an exchange filing.
For fast updates on second quarter earnings click here.
Agro Tech Foods Ltd has approved the acquisition of Del Monte Foods for Rs 1,300 crore, according to an exchange filing.
Wholesale prices rise 2.36% vs 1.84% in September
Food articles inflation at 13.54% vs 11.5% in September
Fuel and power inflation at -5.79% vs -4.05% in September
WPI inflation at 4-month high
Manufactured products inflation at 1.50% vs 1% in September
Thermax Ltd. is targeting Rs 800 crore revenue by financial year 2026. The company is targeting Ebitda margin 21-23%, and PAT margin at 12 to 13%, said Ashish Bhandari, managing director and CEO.
Thermax is commissioning two plants in financial year in Chennai and Pithampur. The capital expenditure will be met through internal accruals, said Bhandari in an interview to NDTV Profit
Garden Reach Shipbuilders Shares Surge 18% After Profit Jumps In Q1
Patel Engineering Share Price Extends Gains After Strong Second Quarter Performance
Health Insurer Niva Bupa's Shares Debut At 6% Premium Over IPO Price
Eicher Motors Share Price Jumps As Most Brokerages Positive After Q2 Earnings
Market breadth was skewed in favour of buyers. Around 1,999 stocks advanced, 1,009 stocks declined, and 114 stocks remained unchanged on BSE.
At pre–open, the NSE Nifty 50 was 16.90 points or 0.07% down at 23,542.15. The BSE Sensex was 54.02 points or 0.07% down at 77,636.94.
The yield on the 10-year bond opened flat at 6.84%. It closed at 6.84% on Wednesday, according to data on Bloomberg.
Rupee weakened by 3 paise to open at a record low of 84.41 against the US Dollar. It closed at 84.39 on Wednesday, according to data on Bloomberg.
Lithium-ion battery storage demand to grow significantly
Expect India’s dependence on lithium- ion battery imports to decline sharply to 20% by FY27
Giga-size integrated battery capacities coming onstream in India by Fy27
Key factor to monitor: India's pricing competitiveness vs Chinese manufacturers
Rated buy with target price of Rs 5100;upside potential 12%
Overall revenue met expectations
Domestic business was in line and Pharma slightly above.
FY25 revenue growth guidance reduced to high single digits (previously 15%)
Domestic revenue down 5% affected by pricing pressure
Pricing pressure expected to persist in upcoming quarters.
Management expects improvement in pharma in h2FY25 based on current order book.
Gold Prices Hit Rs 74,000-Mark As Demand Continues To Dip, Global Rates Slip Below Month's Low
Most currencies in Asia declined against the greenback as the dollar index raced to the highest level since Nov 1, 2023. The index climbed despite data showed that the US CPI rose to 2.6% matching analysts' expectations.
The dollar index, which measures the strength of the six major currencies, rose to 106.63 so far today. The index was trading 0.13% higher at 106.62 as of 8:18 a.m.
The Malaysian ringgit was the worst performing currency with 0.78% loss against the US unit as of 8:14 a.m. The Indonesian rupiah was the second worst performing currency, and it was down 0.53% against the US dollar.
The Japanese yen was trading 0.32% down at 155.96 against the greenback.
CLSA Maintains Underperform on BHEL, raises target to Rs 205 target vs Rs 189 earlier, which implied a 11% downside
L&T's recent success in thermal power equipment puts BHEL's market dominance under question
Raise FY25 order inflow estimate by 31% on BHEL winning 37% of NTPC awards
Higher inflow estimate increase FY27 EPS estimate up 8%
Future of thermal business bleak beyond FY30
Stock remains expensive at 40 times FY26 P/E despite recent stock correction
Crude oil future prices declined in Asian trade as demand concerns rose after the Organization of Petroleum Exporting Countries and allies lowered demand forecast for 2024 and 2025. The lower revision is because of concerns about China's economic revival.
The January future contract of crude oil was trading 0.10% down at $72.20 a barrel on the Intercontinental Exchange as of 7:48 a.m.
Target price is lowered to Rs 490 from Rs 530, which is 2.6% downside
Citi Research maintained a 'Sell'
Target cuts due to tweaks to longer term cash flow estimates
FY25-27 earnings estimates remain unchanged
Motilal Oswal maintains NEUTRAL on Nalco, raises target to Rs 420 (91% upside)
The second quarter results broadly beat estimates on favorable pricing
The brokerage raises FY25 revenue/Ebitda/ Net profit estimates by 9%/27%/32%
Expect H2FY25 Ebitda/Net profit to grow 24%/30% YoY
E/xploration & lithium mining deal to help diversify portfolio, enhance supply chain
Expect next growth phase after 1 MT alumina refinery capacity gets added by May’25.
Asian Stocks Gain As Firm Inflation Keeps Fed On Track For Rate Cuts
Share indices in the US ended on a mixed note as traders assessed US CPI data. The CPI rose to 2.6% in October, in line with the market expectation. The crore CPI, which excludes food and energy prices, rose to 3.3%.
On Wednesday, the Dow Jones Industrial Average ended 0.11% higher at 43,958.19. The S&P 500 ended 0.02% higher at 5,985.38. The Nasdaq Composite ended 0.26% down at 19,230.73
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