Indian Equity Markets to React to US Fed Decision
Indian equity markets are expected to react to the US Federal Reserve's policy decision, announced overnight, as trading resumes after a day's holiday. At 7:45 AM, Gift Nifty was quoting 29 points higher at 22,747 levels.
Asian markets, meanwhile, were mixed with Nikkei and Kospi lower by around 0.2% each, while ASX200 and Hang Seng added up to 0.8%. Mainland China market remained closed for the Labor Day holiday.
Overnight, the Dow added 0.23%, the S&P 500 shed 0.34%, and the Nasdaq Composite slid 0.33%.
Stocks to Watch Today
Vedanta is looking to invest $20 billion in India across all its businesses over the next four years, its Chairman Anil Agarwal said on Wednesday. The investments would be focused on the glass and semiconductors business, electronics, among other businesses.
Hero Moto sold 533,585 units of motorcycles and scooters in April 2024, clocking a growth of 34.7% year-on-year (Y-o-Y).
Eicher Motors' sales of trucks and buses in the domestic market fell 20% Y-o-Y in April 2024, while exports grew 38.5%. However, taking into account the sales of Volvo buses and trucks, total sales of the company fell 18.1% Y-o-Y.
Tata Motors' sales in the domestic and international market for April 2024 stood at 77,521 vehicles vs 69,599 units during April 2023. While Total CV sales stood at 29,538 units (up 31% Y-o-Y), total PV sales came at 47,983 units (up 2% Y-o-Y).
TVS Motor Company registered a growth of 25% Y-o-Y with sales increasing from 306,224 units in April 2023 to 383,615 units in April 2024.
The stainless steel manufacturer has announced a three-pronged investment strategy worth Rs 5,400 crore as part of its expansion plan.
BSE will revise the transaction charges for its options contracts in the equity derivatives segment. The revised charges will come into effect from May 13 for S&P BSE Sensex options and S&P BSE Bankex options.
The Godrej family has reached an agreement to split the conglomerate into two branches, with Adi and brother Nadir keeping the listed entities while cousin Jamshyd gets the control of unlisted companies and the land bank.
The company received a multi-million-dollar deal with Nokia to overhaul the employee service desk.
KVS Manian, joint managing director of the company has resigned with immediate effect.