Gift Nifty indicates stable start for Indian markets; TCS, IREDA in focus

Gift Nifty today: The Indian equity benchmarks are set to open higher as indicated by Nifty Futures traded at Gift City in Gandhinagar. Nifty Futures at Gift City rose 0.10 per cent or 26 points to 25,088 amid stable cues from other Asian markets.

Most of the Asian markets were trading higher with Japan's Nikkei rising 0.3 per cent, Hong Kong's Hang Seng advancing 3 per cent, South Korea's KOSPI up 0.33 per cent and Taiwan Weighted up 0.21 per cent.

Wall Street's main indexes closed lower on Thursday as investors looked to higher-than-expected inflation and unemployment claims for indications on the health of the U.S. economy and the path for interest rates.

The closely watched Consumer Price Index rose 0.2 per cent on a monthly basis in September and 2.4 per cent on an annual basis, with both figures being slightly higher than estimated by economists polled by Reuters.

The Dow Jones Industrial Average fell 57.88 points, or 0.14 per cent, to 42,454.12, the S&P 500 lost 11.99 points, or 0.21 per cent, to 5,780.05 and the Nasdaq Composite lost 9.57 points, or 0.05 per cent, to 18,282.05.

Back home, foreign institutional investors (FIIs) sold shares worth Rs 4,926 crore on Thursday while domestic institutional investors bought shares worth Rs 3,878 crore, provisional data from the National Stock Exchange showed.

The FIIs have so far this month sold shares worth Rs 53,974 crore, according to NSDL data.

Stocks to Watch

Tata Consultancy Services: The India's largest IT services company on Thursday kicked off the earnings season for Indian IT majors on a glum note after it reported a lower-than-expected quarterly profit on weakness in its key North American market. Net profit at the Tata Group company rose 5 per cent to Rs 11,909 crore, but missed the analysts' average estimate of Rs 12,502 crore, according to LSEG data.

IREDA: The renewable energy financial assistance firm on Thursday reported net profit of Rs 388 crore, marking an increase of 36 per cent from Rs 285 crore in the same period last year. Its revenue from operations rose 33 per cent to Rs 242 crore from Rs 183 crore.

Maruti Suzuki : SES ESG Research now lifts the ESG score of Maruti Suzuki to 74 for the year 2024 from 68.5 or Grade B in 2023, reflecting improvements in the group's environmental, social, and governance performance.

Mazagon Dock: Mazagon Dock has won a Rs 121.7 crore deal from Maharashtra State Power Generation Company. The order includes an AI-based, all-in infrasecure system supply, installation, and commissioning at GTPS-Uran and KGSC-Pophali.

Dr Reddy's Labs: Dr. Reddy's Laboratories shareholders have approved the voluntary liquidation of its wholly-owned subsidiary, Imperial Owners and Land Possessions. Pending regulatory approvals, liquidation will not significantly impact consolidated financials.

Dish TV: The Corporate Affairs Ministry has given its nod for incorporating a new subsidiary- Dish Bharat Ventures-for its the business of distributing products and services through a digital platform and rendering ancillary services.

Bandhan Bank: The Reserve Bank of India approved the appointment of Partha Pratim Sengupta as the new Managing Director and CEO of Bandhan Bank.

(With Reuters inputs)