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Prompted by gains across global peers, the benchmark Sensex and Nifty indices look set to open higher on Thursday.
The US Federal Reserve kept rates steady for the second time on Wednesday night and said the rate-hike cycle is nearing its end.
Fed chief Powell left the door open to another hike to tame inflation, while admitting that a run-up in long-term Treasury yields reduces the impetus to raise interest rates again.
At 7:30 AM, Gift Nifty futures quoted at 19,200, indicating a likely gap-up of over 100 points.
The US Federal Reserve kept rates steady for the second time on Wednesday night and said the rate-hike cycle is nearing its end.
Fed chief Powell left the door open to another hike to tame inflation, while admitting that a run-up in long-term Treasury yields reduces the impetus to raise interest rates again.
Overnight in the US, the S&P 500 rose 1 per cent, Nasdaq soared 1.6 per cent and Dow Jones gained 0.7 per cent.
The S&P/ASX 200, All Orddinaries, Nikkei and Kospi were all up over 1 per cent each in Asia.
The S&P/ASX 200, All Orddinaries, Nikkei and Kospi were all up over 1 per cent each in Asia.
Meanwhile, here are some stocks to watch in trade today:
Q2 earnings today: Adani Enterprises, Tata Motors, Adani Power, Cholamandalam Investment, Dabur India, IRFC, Berger Paints, Godrej Properties, Container Corporation of India, Gujarat Gas and Dr. Lal PathLabs, among others.
Reliance Industries: The conglomerate is considering raising Rs 15,000 crore ($1.8 billion) via the sale of local-currency bonds, as per Bloomberg.
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GAIL and BPCL: The two have signed a 15-year agreement to supply propane for GAIL's upcoming petrochemical plant at Usar in Maharashtra. The supply contract is estimated to be over Rs. 63,000 crore.
SBI: State Bank of India has raised Rs 10,000 crore in debt capital by issuing Tier-II bonds — at a coupon rate of 7.81 per cent — to meet the regulatory capital requirement and support its business growth.
KFin Technologies: The company has launched Guardian, a trade reporting and compliance management platform for organisations involved in the capital markets.
Tata Steel: Tata Steel reported a consolidated net loss of Rs 6,196.24 crore in the July-September quarter on the back of impairment charges and restructuring costs due to the proposed transition in the UK. In the year-ago period, it had posted a net profit of Rs 1,514.42 crore.
Hero Moto: The two-wheeler manufacturer's consolidated net profit rose 47.6 per cent YoY to Rs 1,007 crore in the September quarter.
Britannia: Britannia Industries reported a 19.55 per cent YoY increase in consolidated net profit to Rs 586.50 crore in the September quarter on softening commodity prices.
JK Tyre: The tyre manufacturer reported a nearly five-fold surge in its Q2 consolidated net profit to Rs 242 crore from a year ago. Revenue rose 3.8 per cent to Rs 3,897.5 crore.
Syrma Technology: The company's Q2 revenue jumped 52.4 per cent YoY to Rs 711.7 crore. Reported profit rose 7.8 per cent to Rs 30.5 crore.
Godrej Consumer: The FMCG major reported a 20.6 per cent YoY increase in its consolidated net profit to Rs 432.77 crore in Q2FY24. Revenue rose 6 per cent YoY to Rs 3,568 crore.
REC: REC Ltd posted its highest ever quarterly profit at Rs 3,773 crore during the September quarter, up 28 per cent from last year.
Ambuja Cements: The company's net profit rose seven times to Rs 793 crore compared to Rs 93 crore reported a year ago. Net sales rose 4 per cent YoY to Rs 7,424 crore.
India Cements: Chennai-based India Cements narrowed its net loss to Rs 85.54 crore in Q2FY24 from a loss of Rs 121.1 crore in the same quarter last year.
Dhanlaxmi Bank: The lender released an advertisement on Wednesday for the post of managing director and chief executive officer, as the term of its incumbent, J K Shivan, is set to be over by 29 January next year.
