Market Analysis Today
Feb 08 2024Stock to Watch Today (Stocks to Buy Today)Tata Consumer
Tata Consumer`s consolidated net profit missed estimates in the third quarter, falling 21% to Rs 279 crore. It was Rs 352 crore a year ago.
BPCL
The company’s joint venture, Petronet LNG, executed a long-term LNG sale and purchase agreement with Qatar Energy for the purchase of approximately 7.5 MMTPA of liquified natural gas on a long-term basis
Indraprastha Gas Limited
The company has signed a MoU with two technology partners during India Energy Week 2024 to establish Compressed Biogas (CBG) plants across four states: Delhi, Haryana, Rajasthan, and Uttar Pradesh
Sobha Ltd
The Board has considered and approved the acquisition of shares of C.V.S. Tech Park Private Limited (an Associate Company) and made it a Wholly owned Subsidiary.
Stock in News ( Stocks for Intraday Trading)
ACE
The Company has entered into an agreement(s) for purchase of land approx. 82.00 acres near to its existing manufacturing facilities for further capacity and business expansion.
Kalyani Steel
The Company had been declared as Successful Bidder for Acquisition of Assets of Kamineni Steel & Power India Private Limited
PSP Projects
The company is in receipt of new work orders worth Rs. 935.41 crores
KEC International Ltd
The company has secured new orders of Rs. 1,175 crores across its various businesses
Mangalore Chemicals & Fertilizers Limited
The company has announced its merger with Paradeep Phosphates Limited. The merged entity to become one of the largest integrated private sector fertilizer companies in India
Stocks In Focus ( Stocks For Day Trading Today)
Welspun Enterprise
The company emerged as the lowest bidder for the development of a 2,000 million-litre per-day water treatment plant from the Brihanmumbai Municipal Corp
ONGC
The company formed a joint venture pact with NTPC Green for renewable energy. The joint venture will focus on offshore wind projects
Piramal Pharma
The U.S. FDA conducted a pre-approval inspection of the company’s U.S.-based facility from Jan 29th to Feb 6th and found three observations
SJVN
The company received a Letter of Intent from Gujarat Urja Vikas Nigam for a 200 MW solar power project.
Bajaj Alliance
The company reported a total new business premium of Rs 951 crore in January and a gross direct premium of Rs 1,975 crore
Indus Towers
Asset management company Artisan Partners on Wednesday divested a 1.2% stake in telecom infrastructure major Indus Towers for Rs 717 crore through an open market transactionResult Today ( Todays Earning Reports)APOLLOHOSP
BALRAMCHIN
BECTORFOOD
BEML
BIOCON
ESCORTS
GABRIEL
GRASIM
HCC
IRCON
LICI
MEDANTA
MOTISONS
NCC
PAGEIND
PATANJALI
PFC
RVNL
TORNTPOWER
UBL
ZOMATOSecurities in Ban For Trade Date 08-FEB-2024:
1 ASHOKLEY
2 BALRAMCHIN
3 DELTACORP
4 HINDCOPPER
5 INDIACEM
6 INDUSTOWER
7 NATIONALUM
8 SAIL
9 UPL
10 ZEEL
Market Momentum For Today / Market AnalysisWall Street ends with solid gains in Wednesday’s trade, with the S&P 500 and Dow Jones Industrial Average marking record closes. The S&P 500 also neared the milestone 5000 level.
Gift Nifty above the dotted lines in early action indicating Nifty is likely to enjoy an exuberant start. That said, all eyes turn to RBI Governor Shaktikanta Das will announce the MPC decision to be wired at 10:00 AM IST.
GLOBAL MARKET UPDATE:
GIFT Nifty (+64, 22068)
Dow Future (+21, 38698)
Nikkei (+280, 36400)
Hang Seng (-93, 15989)
Dow Jones (+156, 38521)
Nasdaq (+148, 15757)
Bovespa (-466, 129950).
WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:
US equities, the main indexes carved out notable gains Wednesday thanks to well-received earnings from Chipotle and Roblox.
In focus were comments from several Federal Reserve officials – many of whom echoed the hawkish tone Fed Chair Jerome Powell has struck recently regarding interest rates.
Futures traders are currently pricing in an 18% chance the Fed will cut rates by a quarter-percentage point in March, down from 53% one week ago. The odds for a May cut are 53%.
But the positive takeaway was that all the indices managed to end with solid gains by the close.
The Dow Jones rose 0.4% to 38,677 and the S&P 500 added 0.8% to 4,995, both new record closes. The Nasdaq Composite tacked on 1.0% to 15,756.
# The 10-year US Treasury bond yields last traded towards 4.1059 levels.
# The US Dollar stands slipped towards 103.95 levels.
# Oil trades range bound at $74.15 a barrel.
# COMEX Gold treading water at $2037.
