The Indian stock market is expected to open lower on Thursday, with early indicators pointing to pressure at the start of trading. At around 7:30 am, Gift Nifty was trading at 23,258, down 187.50 points or 0.80%.
The performance of domestic corporate activity and global market cues will play a role in determining the direction of the market. Developments in West Asia, movements in crude oil prices, the stance of foreign investors and trends in international markets remain key indicators. Positive developments related to a potential geopolitical resolution could also affect market sentiment.
Several companies are scheduled to report quarterly financial results or make corporate announcements today, which could influence trading activity. The National Stock Exchange (NSE) listing is also scheduled for September 24 and is expected to be a key market event. The NSE IPO was entirely an offer for sale.
ESDS Software Solution, Purple Style Labs and Palak Technologies are scheduled to make quarterly financial announcements today. Trading activity in their shares could increase based on the results.
In Sedemac Mechatronics, around 44.3 lakh shares are proposed to be sold through a block deal involving institutional investors. The transaction represents approximately 10% of the company’s stake. The floor price for the deal has been fixed at Rs 3,000 per share, potentially taking the total transaction value to around Rs 1,329 crore.
Ola Electric Mobility could discuss the proposed rights issue of equity shares at a board meeting. The announcement will be watched by investors.
NSE is scheduled to be listed on the stock market today, September 24. The IPO saw b demand from institutional investors, and the listing is among the key market events scheduled for the day.
Bharat Dynamics has received a contract worth Rs 810.79 crore from the Ministry of Defence for the supply of SAT-SAAW and associated equipment for the Indian Air Force.
Exide Energy Solutions, a subsidiary of Exide Industries, has completed the first phase of its 6 GWh lithium-ion cell manufacturing facility at Devanahalli in Karnataka.
Avantel has received an order worth Rs 177.35 crore from Jetwerk Manufacturing for the supply of satellite communication equipment.
The board of Concord Biotech has approved the issue of one bonus equity share for every existing share held by shareholders. The proposed bonus ratio is 1:1.
Zuari Industries has purchased 1.28 crore equity shares of Texmaco Infrastructure & Holdings for around Rs 147.96 crore.
RPS WOS II LLC, an entity associated with RPS Ventures, has sold 3.86 crore shares of Meesho for around Rs 899.7 crore. The transaction represents approximately 0.83% of the company’s stake.
SBI Cards has introduced an FD-backed secured credit card on the YONO platform. The product provides a secured credit facility based on a fixed deposit.
GHCL has emerged as the preferred bidder for the Kadaya limestone mine in Gujarat. The mine is reported to have reserves of approximately 5.6 lakh metric tonnes.
Aditya Birla Capital has allotted 19,200 non-convertible debentures (NCDs) worth Rs 192 crore through a private placement.
A subsidiary of Motilal Oswal Financial Services has received regulatory approval to operate as a securities custodian.
The market is expected to begin trading with weak indicators. During the session, the direction of global markets, crude oil prices, foreign investment and company-specific announcements could influence market activity.
