Stocks in focus: The GIFT Nifty recorded a 0.16% gain during Friday’s early trading session, with a value of 19,796.5 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex. Benchmark indices NSE Nifty 50 and BSE Sensex ended deep in the red. The Nifty 50 fell 0.6% to close at 19,659.9. On the other hand, Sensex crashed 440 points to end at 66,266.82.
“The FOMC’s decision aligned with market expectations as they implemented a 25 bps hike and expressed a data-centric approach for future rate actions. Positive global sentiment prevailed due to the reduced prospects of a US recession. Despite this, the domestic market witnessed sharp corrections led by banks and autos, while pharma stocks performed on a positive start to their earnings season,” said Vinod Nair, Head of Research at Geojit Financial Services.
Indian Bank
Indian Bank’s Q1FY24 net profit jumped 41% on-year at Rs 1,709 crore from Rs 1,213 crore in Q1FY23. Sequentially too, the profit increased 18% from Rs 1447 crore in Q4FY23.
RVNL
The government has decided to exercise the green-shoe option for the Rail Vikas Nigam OFS, offloading an additional 1.96% stake in Rail Vikas Nigam. On Thursday, the non-retail portion of the offer-for-sale saw 273% demand.
Adani Transmission
Adani Transmission on Thursday said it has renamed itself to Adani Energy Solutions Limited with immediate effect.
IIFL Finance
IIFL Finance clocked a 43% on-year jump in Q1FY24 profit after tax to Rs 472.9 cr from Rs 329.7 crore in Q1FY23 on the back of robust loan growth in core products – gold loans and home loans.
Dr Lal Pathlabs
Dr Lal PathLabs on Thursday posted fiscal first quarter profit at Rs 82.60 crore, up 43.2% on-year as against Rs 57.70 crore during the first quarter of FY23.
Brookfield India REIT
Brookfield India Real Estate Trust launched a QIP issue to raise funds to the tune of Rs 1,500 crore. The floor price is at Rs 265.79 per unit.
NDTV
NSE and BSE imposed a penalty of Rs 6.1 lakh on NDTV for non-compliance with certain requirements and regulations. The media company has filed an application, seeking to have the penalty waived in accordance with the Policy for Exemption of Fines.
Marico, Mahindra & Mahindra Financial Services, Equitas Small Finance Bank, IOC, DCB Bank, SBI Cards
Shares of Marico, Mahindra & Mahindra Financial Services, Equitas Small Finance Bank, IOC, DCB Bank, SBI Cards will be in focus today as they gear up to announce their first fiscal quarter earnings results.