Stock market today: The domestic equities are expected to see a gap-down start to trading on Thursday, October 3, amid weak global cues.
The stock market was closed on Tuesday, October 2, on account of Gandhi Jayanti.
At 7:42 AM, the GIFT NIFTY futures were trading 115.50 points, or 0.45%, lower at 25,697 levels. This, as per publicly available information, indicates that the NIFTY50 will open 272 points lower.
On the global front, the Middle East conflict is closely monitored by the market participants.
MSCI's global equities index was down slightly on Wednesday while the dollar rose as investors digested US economic data and anxiously awaited Israel's response to Iran's missile attack the previous day.
Oil prices rose on worries that further escalation in the Middle East could threaten oil supplies from the world's top producing region, but gains were limited by a large build in US crude inventories.
Here is a list of stocks that may trade actively in today's session.
Adani Enterprises: Adani Group's flagship company,
Adani Enterprises, is looking to raise about $1.3 billion through qualified institutional placement (QIP) and is expected to start the process as early as the week starting October 7, Bloomberg reported, citing sources.
Paras Defence:
Paras Defence and Space Technologies on Tuesday, October 1, announced the launch of its qualified institutional placement (QIP) to raise up to ₹200 crore. The company's management committee set October 1 as the opening date of the QIP and fixed ₹1,096.35 apiece as the floor price, as per its exchange filing. The floor price is a discount of 1.68% as against the stock's last traded price of ₹1,115.1 on the BSE.
CSB Bank: The lender, in its Q2 business update, said its gross advances saw a 20% jump on a yearly basis to ₹26,871 crore in the July-September quarter. The bank reported a 25.17% advance in deposits at ₹31,841 crore during the second quarter, as compared to ₹25,439 crore logged in the corresponding quarter of the previous fiscal.
Dabur India: Homegrown FMCG firm Dabur India on Tuesday said its profitability in the second quarter will be impacted due to low primary sales with heavy rain and floods in parts of India affecting out-of-home consumption and consumer offtake despite demand trends seeing some improvement.
In its Q2 business update, Dabur India said it expects to post a mid-single-digit decline in consolidated revenue for the second quarter due to a correction in distributor inventory in the general trade (GT) channel.
Mankind Pharma: The Competition Commission of India (CCI) on Tuesday approved the proposed acquisition of Bharat Serums and Vaccines by Mankind Pharma for ₹13,630 crore. Bharat Serums and Vaccines Ltd (BSV) is engaged in research, development, licensing, manufacturing, importing, exporting, marketing, and distribution of pharmaceutical formulations/FDFs, APIs, food, and health supplements.
South Indian Bank: In its business update, South Indian Bank announced a 13.07% year-on-year (YoY) increase in gross advances to ₹84,741 crore for the quarter ended September 2024. The bank also saw an 8.62% growth in total deposits, which rose to ₹1,05,455 crore. The CASA (current account and savings account) ratio slightly declined to 31.85% from 32.03% YoY.
Aurobindo Pharma: Aurobindo Pharma on October 2 announced it has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Cephalexin Tablets USP, 250 mg and 500 mg, which is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Keflet Tablets, 250 mg and 500 mg, of Eli Lilly and Company.
Maruti Suzuki India: The carmaker on Tuesday reported a 2% year-on-year increase in total sales at 1,84,727 units in September. The company had sold 1,81,343 units in the same month last year, Maruti Suzuki India (MSI) said in a statement. Total domestic passenger vehicle sales were at 1,44,962 units as compared to 1,50,812 units in the year-ago month, a decline of 4%, it added.
Eicher Motors: Eicher Motors Ltd. on Tuesday said its arm, VE Commercial Vehicles, reported a 5.7% year-on-year increase in its sales to 7,609 units in September. This includes 7,322 units of the Eicher brand and the remaining 287 units of the Volvo brand, it added. The company sold a total of 7198 vehicles in September 2023, according to a statement. VE Commercial Vehicles Ltd is a joint venture between Eicher Motors and Swedish auto major Volvo Group.
Reliance Power: Shares of the company will be in focus today as the company is slated to hold a board today, October 3, to discuss plans to raise long-term funds from both domestic and global markets.
Tata Motors:
Tata Motors on Tuesday reported a 15% decline in total domestic sales at 69,694 units in September as compared to 82,023 units in the year-ago month. Total passenger vehicle (PV) sales in the domestic market, including electric vehicles, stood at 41,063 units last month as against 44,809 units in September 2023, down 8%, Tata Motors said in a statement.
Steel stocks: Morgan Stanley, in its latest report, notes that China's recent stimulus would drive positive sentiment and support steel prices. Domestic steel prices are now broadly similar to import parity prices. It added that steel stocks should continue to do well amid positive sentiment supported by spread expansion.
Ashoka Buildcon: Ashoka Buildcon has received a letter of award for a project worth ₹474.10 crore from the Mumbai Metropolitan Region Development Authority (MMRDA).
The project involves the design and construction of an elevated road from Kalyan Murbad Road (Palms Water Resort) to Badlapur Road (Jagdish Dughdhalaya) to Pune Link Road parallel to Waldhuni River Crossing over Karjat-Kasara Railway Line, including a slip road.
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