Stock Market Today likely to open flat; Tech Mahindra, Tata Steel in focus

Stock Market Today: GIFT Nifty on the NSE IX down 21 points, or 0.10 percent, to 21,444.50, indicating that Dalal Street will likely have a quiet start to the week. On the daily chart, the Nifty finished 215 points higher on Wednesday, forming a bullish piercing line candle. It was positioned at the 21,500 level, which was the midpoint of Tuesday's lengthy bear candle. On Wednesday, the S&P 500 closed at a record high for the fourth time in as many sessions, driven by advances in chipmakers and a solid report from ASML and a rise in Netflix after the company posted outstanding quarterly results.

Stock Market Today: Stocks in focus

Coal India

The establishment of a coal-to-SNG (synthetic natural gas) project through a joint venture between GAIL and Coal India, as well as a coal-to-ammonium nitrate project through a partnership between Coal India and BHEL, has been approved by the Cabinet Committee on Economic Affairs (CCEA). In an effort to meet the goal of 100 MT coal gasification by 2030, Coal India plans to establish two coal gasification plants.

Tech Mahindra

During the October–December fiscal year of FY24, the company that provides digital transformation, consultancy, and business re-engineering services had a 3.3 percent sequential increase in net profit, reaching Rs 510.4 crore. Operational revenue increased by 1.8 percent on a quarter-over-quarter basis to Rs 13,101 crore, while revenue in constant currency and dollars increased by 1.1 percent each.

Tata steel

With strong operating results and a decline in input costs, the Tata Group company reported consolidated net profit of Rs 522.1 crore for the quarter ended December FY24, compared with a loss of Rs 2,502 crore in the same time last year. Operations revenue down 3.1% year over year to Rs 55,312 crore for the quarter, but EBITDA increased 54.7 percent YoY to Rs 6,263.6 crore, with a 421 bps margin growth at 11.3 percent.

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