Indian Stocks Brace for Cautious Open Amid AI-Driven Global Rally
- GIFT Nifty down 16 points at 25,262 despite strong global cues.
- Wall Street hits record highs; Asia-Pacific markets trade higher on Nvidia–OpenAI AI rally.
- Focus on Adani Power, Brigade, Vedanta, Alkem, RVNL, Dr. Reddy’s, NTPC Green.
Indian stock markets are expected to start flat on Tuesday, even as global cues remain strong. At 7:40 AM, GIFT Nifty futures were trading 16 points lower at 25,262, indicating a muted opening.
In Asia, markets were trading higher, led by gains in technology stocks after Nvidia announced a partnership with OpenAI, which boosted investor sentiment around artificial intelligence. Mainland China’s CSI 300 rose 0.27 per cent, Hong Kong’s Hang Seng gained 0.35 per cent, and South Korea’s KOSPI was up 0.3 per cent. Japanese markets were closed on account of the Autumnal Equinox holiday.
On Wall Street, all three major indices closed at record highs on Friday. The S&P 500 ended 0.44 per cent higher, the Nasdaq rose 0.7 percent, while the Dow Jones gained 0.14 percent.
Here are the key stocks to watch in trade today:
Vikran Engineering: The company reported a net profit of Rs 5.65 crore for the June quarter, compared to Rs 4.29 crore in the same period last year. Revenue rose to Rs 159.2 crore from Rs 136 crore.
KEC International: The engineering firm has secured new transmission and distribution orders worth Rs 3,243 crore, strengthening its order book.
Adani Power: SBI Funds Management and Citadel Securities LLC acquired shares of Adani Power worth $250 million in a deal executed on Indian exchanges last week. The shares were offloaded by GQG Partners LLC.
Brigade Enterprises: The real estate major has signed a joint development agreement for a residential project in South Bengaluru. Spread across 7.5 acres, the project has a gross development value (GDV) of around Rs 1,200 crore.
Vedanta: The government has rejected Vedanta Group’s application for an extension of its contract for a key Cambay basin oil and gas block. This could impact the company’s energy portfolio.
Alkem Laboratories: The pharma company launched Pertuza, a biosimilar of pertuzumab, in India for treating HER2-positive breast cancer. Additionally, it received a GST demand notice of Rs 35.11 crore, along with applicable interest and a penalty of Rs 3.51 crore.
JBM Auto: Its subsidiary JBM Electric Vehicles has entered into a partnership with Al Habtoor Motors, a leading automobile distributor in the UAE, to expand its global reach in the electric mobility sector.
Birla Corporation: The firm’s unit, RCCPL, has been named the preferred bidder for a composite licence for the Guda-Rampur Limestone & Manganese Block in Telangana.
Rail Vikas Nigam Ltd (RVNL): RVNL has emerged as the lowest bidder for a Rs 145 crore contract from Southern Railway. The project involves design, supply, erection, testing, and commissioning of traction sub-stations.
Emkay Global Financial Services: Kirti Doshi, through his family-controlled Antique Securities Pvt Ltd, has acquired over 21 per cent stake in the company.
Suraj Estate Developers: The company has launched Suraj Park View 1, a residential project located at Shivaji Park, Dadar (West), with an estimated GDV of Rs 250 crore.
JK Lakshmi Cement: The company has entered into a power purchase agreement with Ampin C&I Power Four Pvt Ltd to procure solar power under captive power regulations. As part of this deal, it has also acquired a 26 per cent equity stake in Ampin C&I Power Four Pvt Ltd.
Dr. Reddy’s Laboratories: The company received a positive opinion from the European Medicines Agency’s Committee for Medicinal Products for Human Use for AVT03, a biosimilar of Prolia and Xgeva, paving the way for its approval in Europe.
NTPC Green: The company commissioned part of its 9.9 MW wind power capacity in Bhuj, Gujarat, under Ayana Renewable Power Four. With this addition, NTPC Green’s total installed capacity has risen to 7,382.475 MW.
With mixed cues from domestic developments and strong global support, investors are expected to keep a close watch on sector-specific announcements and corporate updates through the day.
