Scan to Download
3:25 p.m., the Dow Jones Industrial Average and S&P 500 futures were trading 0.07% and 0.01% higher. The Nasdaq 100 future was trading 0.11% higher.
US: Flash Manufacturing PMI — 8:15 p.m.
US: Flash Services PMI — 8:15 p.m.
US: Existing Home Sales — 8:30 p.m.
US: University of Michigan Consumer Sentiment — 8:30 p.m.
US: UoM Inflation Expectations — 8:30 p.m.
US: Federal Reserve Governor Philip Jefferson will speak at the Macroeconomics and Monetary Policy Conference, in San Francisco — 10:00 p.m.
Pfizer has entered into a marketing and supply agreement with Mylan Pharma for the products Ativan and Pacitane, according to an exchange filing.
Markets in eurozone were trading higher Friday as investors await earnings reports. The Euro Stoxx 50 and FTSE 100 were trading 0.09% and 0.01% higher, respectively.
To invest Rs 50 crore to set up battery manufacturing unit at Ahmednagar facility
Its Range-X batteries are powered by the latest lithium-ion phosphate technology
The unit will have an annual production capacity of 60,000 battery packs
Plans to supply battery packs to OEMs beyond Kinetic Group
Source: Company statement
Telsa's entry likely to boost the premiumisation of cars in India
Even if we assume that Tesla launches a sub-Rs 2.5m on-road model in India and gains market share
Then too believe the recent de-rating of Mahindra & Mahindra is already pricing this in
Do not believe that Tesla’s entry would have any significant impact on Maruti Suzuki, Hyundai Motors India or Tata Motors
Adani Enterprises Ltd. has incorporated a wholly-owned step-down subsidiary, Indore Gujarat Road.
Can Fin Homes has awarded a contract worth Rs 297 crore to IBM India for infrastructure and security solutions.
One MobiKwik Systems will acquire a 3.39% stake in Blostem Fintech for Rs 1.5 crore.
Maharashtra Scooters Ltd. has closed its Satara factory due to non-viability of manufacturing operations and plans to transfer the leasehold rights and machineries for Rs 72.9 crore.
Easy Trip Planners has signed a Memorandum of Understanding (MoU) with the Korea Tourism Organisation to promote Korea as a leading travel destination for Indian tourists.
NHPC has clarified that the proposal for stake acquisition in PTC India is at a very initial stage and still under consideration.
Bharat Heavy Electricals Ltd. is facing arbitration invoked by Dipon Gulf General, which is claiming $29.67 million.
Jyoti Structures has a strong order book of approximately Rs 2,000 crore, and plans to restart its second tower manufacturing unit at Nashik by the end of March, which will add 33,000 MT to its annual manufacturing capacity.
M&M Share Falls 6% On Plan To Invest In Subsidiaries’ Rs 1,500-Crore Rights Issues
Upgrade to High Conviction Outperform from Outperform; TP at Rs 220 – 61% potential upside
Believe the Indian microfinance space will go from bad to less bad in 1-2 quarters and from less bad to normal by Q2FY26
Legendary fund manager Anthony Bolton said “The most money in equity markets is made when things go from bad to less bad”
Play on the MFI recovery cycle with gradual migration to secured loans
New management team: don’t expect any legacy baggage
Bandhan is performing better than peers this MFI cycle
Gravitating towards secured lending, no need for capital and multiple very cheap
Double upgrade to Outperform, Target: Rs 6,530, upside 33%
Had earlier downgraded to Underperform in April
This was because other fast growth companies were trading at cheaper valuations
However, now LTTS trades at 11% discount to Coforge, 30% discount to Persistent
Expect growth pick up in Plant and Engineering, margins to benefit from tailwinds
See faster growth possible because of acquisition of Intelliswift
Still expect below peer growth but see more value given steep discount
Market breadth was skewed in favour of buyers. Around 2,143 stocks advanced, 591 stocks declined, and 113 stocks remained unchanged on BSE.
At pre-open, the NSE Nifty 50 was trading 0.24% down at 22,857.20, and the Sensex was trading 0.16% down at 75,612.61.
The yield on the 10-year bond opened flat at 6.70%.
It closed at 6.70% on Thursday.
Source: Bloomberg
Rupee strengthened by 18 paise to open at 86.48 against the US Dollar.
It closed at 86.66 on Thursday.
Source: Bloomberg
Sammaan Capital's board has approved a proposal to raise up to Rs 300 crore through a public issue of non-convertible debentures.
Coforge's subsidiary, Coforge Inc, has completed the acquisition of all outstanding shares of Xceltrait Inc.
Eris Lifesciences has availed credit facilities worth Rs 100 crore from Kotak Mahindra Bank Ltd.
Mahindra & Mahindra Ltd. plans to fully subscribe to its rights entitlement in Mahindra Finance and Mahindra Life Development , and also plans to subscribe to additional shares, including any unsubscribed portion, up to the total issue size.
Pecking Order: Nalco, Vedanta, Hindalco Ind
Expect Hindalco, Vedanta, Nalco to generate upcycle profitability & returns
Market factoring in 16.5%/11% lower commodity prices for Nalco/Vedanta
Market factoring in 9.8% higher commodity prices for Hindalco
Alert: Stocks pricing in lower commodity prices tend to provide better downside cushion
If spot metal prices uphold, Nalco/Vedanta could see 16.8%/4.4% upgrade to their Ebitda
If alumina, aluminium prices stay higher for longer, near-term earnings would be due for an upgrade
Most markets in the Asia-Pacific markets were trading lower tracking overnight movements in the US, and as the Japanese yen strengthens past the US dollar.
The Nikkei 225 was 0.03% down, and the S&P ASX 200 declined 0.21% down. The Hang Seng and CSI 300 were trading 2.49% and 0.34% higher, respectively.
Share indices declined from all-time highs after Walmart Inc. provided a disappointing sales and profit guidance and expressed concern over consumers' behavior weighed.
On Thursday, the Dow Jones Industrial Average and S&P 500 ended 1.01% and 0.43% down, respectively. The Nasdaq Composite ended 0.47% down.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
