The SGX Nifty hinted at a start in the red for domestic indices BSE Sensex and NSE Nifty. Here’s a look at the stocks in focus in trade on Thursday.
Also Read– JEE Main 2023 Session 2 Admit Cards Released, How to Download
SGX Nifty traded in the red, indicating a lower start for the domestic Indian equity markets at 17,589, down 36 points. On Wednesday, markets extended their gaining streak, as Nifty rose 0.91% to 17,557, while Sensex added 582 points to settle at 59,689.
“The domestic market is displaying resilience, unaffected by the weaker global peers, thanks to strong banks and NBFCs quarterly numbers and the windfall tax cut. Additionally, the recent US data revealed a softening in the labor market and declining factory orders, increasing the likelihood of a pause in rate hikes by the Federal Reserve. The RBI is expected to announce a 25-basis point rate hike in its policy announcement on Thursday before taking a pause, positive for the market,” said Vinod Nair, Head of Research, Geojit Financial Services.
Hero MotoCorp
The motorcycles and scooter major launched a voluntary retirement scheme (VRS) for its staff. The scheme includes a one-time lump-sum amount, variable pay, gifts, medical coverage, retention of company car, relocation assistance, career support.
Nykaa
FSN E-Commerce saw strong growth in business in Q4FY23 despite the subdued industry trend. The company stated it saw sustained strong demand in the beauty and personal care (BPC) categories. For FY23, the company expects its percentage revenue growth rates to be around 30%.
Reliance Industries
Reliance Retail Ventures, the retail arm of the conglomerate, entered into the beauty space by launching its beauty brand Tira’ app and website.
Larsen & Toubro
Read More:-Aeroflex Industries to raise Rs 350 crore via IPO; take a quick look
Construction major Larsen & Toubro (L&T) on Wednesday said it has bagged multiple contracts of worth more than Rs 7,000 crore in the Middle East region. The scope of work comprises engineering, procurement, construction and installation for various new offshore facilities and integration with existing installations, L&T said in a statement.
Dalmia Bharat Sugar and Industries
The board approved setting up a grain-based distillery which will have a daily capacity of 250 kilolitres and planned for capex of Rs 400 crore for the same. Also, the capacity expansion at Ramgarh Sugar plant will be improved to 7,000 TCD (tonnes of cane per day) from 6,600 TCD.
Rail Vikas Nigam
Also Read– Who Should You Name The Nominee In Investments?
The firm is the lowest bidder for provision of E1 based automatic signalling with continuous track circuiting and other associated works in Jhansi-Gwalior section of Jhansi Division of North Central Railway. The total consideration for the project is Rs 121.05 crore.
