Stock Market Today: GIFT Nifty indicates a bullish start; Wipro, Hindustan Unilever in focus

Stock Market Today: Dalal Street appeared to be off to a good start on Friday as the GIFT Nifty on the NSE IX moved higher by 58.50 points, at 21,530. On Friday, Tokyo equities began the day higher as investors gained confidence from a Wall Street rise driven by tech companies.In early trading, the benchmark Nikkei 225 index increased 1.27 percent, or 449.59 points, to 35,915.76, while the Topix index as a whole gained 0.77 percent, or 19.10 points, to 2,511.19. On the daily chart, the Nifty finished the day 110 points down, forming a high wave-like candle formation. It also moved below the rising trendline, indicating a negative trend reversal.

Stock Market Today: Stocks in focus

Hindustan Unilever

The FMCG major has signed transaction documents to purchase a 27.73 percent interest in Transition Sustainable Energy Services One, an SPV (special purpose entity). The request to enter into an agreement for the purchase of renewable power by purchasing a stake in Transition Sustainable Energy Services One was accepted by the board on December 1st of last year.

IndusInd Bank

For the quarter ended December FY24, the private sector lender posted earnings that were somewhat better than anticipated. Standalone net profit increased 17.3% year over year to Rs 2,297.9 crore, while net interest income increased 17.8% to Rs 5,295.6 crore. In comparison to the same period last year, other revenue and pre-provision operating profit increased by 15.4% and 8.7%, respectively, while provisions and contingencies decreased to Rs 934.23 crore from Rs 1,064.7 crore.

Wipro

The IT services provider has finalised an agreement to pay Rs 3.17 crore for a 14% ownership stake in Huoban Energy 11. Through the agreement, Wipro will be able to increase the percentage of renewable energy used in Maharashtra offices. It is anticipated that the transaction will be finished by March 2024.

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