Vedanta, Vodafone Idea, KEC International, Brigade Enterprise to remain in focus
Upstox
2 min read • Updated: April 4, 2024, 8:28 AM
Summary
Indian markets remain range bound at all time high levels, awaiting RBI policy. US Federal Reserve chairman says rate cuts are imminent this year, yet currently in a wait and watch mode.
Indian markets closed little changed on Wednesday as they awaited the RBI policy decision on April 5. The global markets rejoiced at Fed chairman Jerome Powell's comment on rate cuts being imminent this year. The Asian markets mainly trade positively, with 1.6% gains in Japan on Thursday morning.
The US markets closed little changed after giving up early gains. The S&P 500 and Nasdaq closed positive with +0.11% & +0.2% gains, while Dow Jones closed -0.11% losses on Wednesday.
Gold continued its rally to record high levels and is currently trading at record high levels of $2,322 per ounce in the international markets. While in the domestic markets, gold prices are hovering around ₹70,000 per 10 gm.
The Brent crude prices are trading near $89 per barrel as the OPEC+ decided to maintain the status quo with no fresh policy recommendations this month.
The foreign investors chose to become net sellers for Indian equities to the tune of ₹2,213 crore, while domestic institutional investors continued their buying spree worth ₹1,102 crore on Wednesday.
Stocks to watch
Vodafone Idea board will meet on April 6 to consider share issuance proposals or convertible debentures on a preferential basis.
GE POWER bags contracts worth ₹774 crore from Jaiprakash power ventures for design & engineering and commissioning of thermal power plants.
Vedanta Aluminium has commissioned a new 1.5 million tonnes per annum capacity at its alumina refinery in Lanjigarh, Odisha. Post completion, the total capacity of Vedanta Alumina stands at 3.5 million tonnes, making it one of the top 3 global players.
Also read: Vedanta Aluminium commissions new 1.5 MTPA capacity at Lanjigarh refinery
Dmart's standalone revenue for the Q4FY24 increased by 20% yoy to ₹12,393 crore from ₹10,337 crore during the Q4FY23. The total number of stores as of March 31 stood at 365.
KEC International wins new orders worth ₹816 crore across various businesses from civil to T&D and cables. Total new order wins for the financial year 2024 stood at ₹18,102 crore.
Brigade Enterprises signs a joint development agreement for an office space in Whitefield, Bengaluru, with a development value of ₹340 Crores.
L&T Finance Holdings reported robots quarterly business updates for Q4FY24. The total estimated disbursements for the Q4FY24 stood at ₹15,030 crores vs ₹11,282 crore, a jump of 33%. While for FY24, the estimated retail disbursements also grew by 31% to ₹54,253 crores vs ₹42,065 crores in FY23.