Stock Market Today: GIFT Nifty indicates a bearish start; JSW Steel, Coal India in focus

Stock Market Today: GIFT Nifty on the NSE IX opened at 21,737.50, up 45 points, or 0.21 per cent, suggesting that Dalal Street was off to a good start on Tuesday. Tuesday saw a better opening for Tokyo markets following advances on Wall Street, following a long weekend.The larger Topix index gained 0.88 percent, or 22.46 points, to 2,580.34, while the benchmark Nikkei 225 index was up 0.99 percent, or 365.64 points, at 37,263.06 in early trading. Tuesday also saw a little increase in Asian stocks and a stable dollar ahead of an important U.S. inflation data that may influence the Federal Reserve's perspective on interest rates and the timing of rate decreases. Today, a number of businesses, including Eicher Motors, ZED, and Hindalco, will release their third-quarter financial reports.

Stock Market Today: Stocks in focus

Steel Authority of India

The state-owned steel business announced a consolidated net profit of Rs 423 crore for the October–December fiscal year of 2024. This represents a 22 percent decline from the high profit of Rs 298 crore in Q3 of the previous year. Operating revenue for the quarter was Rs 23,349 crore, a 6.8% decrease from the previous year.

JSW Energy

The Solar Energy Corporation of India (SECI) has sent a letter of award to JSW Neo Energy, a wholly owned subsidiary of the business, for a 500 MW wind capacity. A 700 MW greenshoe option is available over the capacity given, per the bid's construction. This might increase the company's allotted capacity by an additional 525 MW, up to a maximum of 1,025 MW.

Coal India

The biggest coal mining firm in the nation reported a consolidated profit of Rs 9,093.7 crore for the third quarter of FY24, up 17.8% from the same time the previous year. The company attributed its growth to increased other income, a strong operating margin, and a decrease in input costs. For the quarter, revenue from operations increased by 2.8% year over year to Rs 36,154 crore. The state-owned company declared a 5.25 rupee interim dividend per share.

Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)

Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER