Stock Market Today: GIFT Nifty on the NSE IX up 78.50 points, or 0.36 percent, to 21,964, indicating that Dalal Street was set for a solid start on Thursday. Ahead of the February series expiry, the Nifty closed 247 points down, below the 22,000 level and near its 20-DEMA. Observing the daily chart, the index has been moving in a rising channel. Tokyo markets began lower on Thursday, mirroring Wall Street’s decline ahead of the release of vital US inflation data.The benchmark Nikkei 225 index was down 0.70 percent, or 275.08 points, at 38,932.95 in early trade, while the broader Topix index fell 0.29 percent, or 7.68 points, to 2,667.27.
Stock Market Today: Stocks in focus
Vedanta
The mining company is targeting pre-tax profits of $6 billion for the next fiscal year, and it intends to boost that amount to $7-7.5 billion the following year. It is anticipated that operational efficiencies throughout their companies will drive this growth. “We already have a solid platform for EBITDA growth, and we have significant influence over it. “Continuous cost reduction, price hikes, and volume escalation will drive the surge,” Vedanta Limited CFO Ajay Goel stated during a recent analyst meeting. In FY24, the company expects its EBITDA to be close to $5 billion.
Vodafone-Idea
The corporation is considering raising a portion of the Rs 20,000 crore via a public offering of new equity shares. According to individuals acquainted with the telecom company’s fundraising efforts, the promoter, Aditya Birla Group, may contribute the remaining funds in exchange for preference shares, as reported. Vodafone Idea’s shares fell by more than 11% on February 28 after the business board approved the financing request the day before.
Yes Bank
The CEO and Managing Director of Yes Bank, Prashant Kumar, has expressed interest in purchasing the merchants supported by Paytm Payments Bank (PPBL). But because it is in line with the bank’s business plan, he underlined that this would require the completion of a KYC (Know Your Customer) compliance check and due diligence. Noting Paytm’s massive customer base in the merchant space, Kumar asserted that this presents Yes Bank with a profitable possibility.
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