Local markets are expected to open lower on Thursday due to weak global cues. The SGX Nifty was trading at 17,456 points as of 7:40 a.m., down more than 50 points.
Internationally, the American markets remained sluggish overnight, with the Dow Jones managing to close in the green but the NASDAQ Composite and the S&P 500 falling up to 0.6%.
Asia-Pacific markets were also down this morning, with the Nikkei 225, Topix, and Kosdaq indexes falling up to 0.3%.
Meanwhile, these are the top stocks that are expected to trade on Thursday:
HDFC: The private sector lender collaborated with IRCTC to develop the ‘IRCTC HDFC Bank Credit Card,’ which offers special privileges like lounge access and discounts on IRCTC website and app reservations. According to the management, the co-branded cards will provide exclusive access to state-of-the-art lounges opening at various train stations.
Hero MotoCorp experienced a 10% year-on-year (YoY) growth in total wholesales to 3.9 lakh units in February, up from 3.5 lakh units the previous year. Domestic sales increased to 3.8 lakh units in February, up from 3.3 lakh units in January. Exports, on the other hand, fell to 12,143 units.
NMDC: The business recorded a 4% increase in iron ore output to 4.48 million metric tonnes (MT) in February 2023, up from 4.31 MT the previous year. Iron ore sales, on the other hand, fell 4.78 percent to 3.78 MT in February 2023, compared to 3.97 MT in the same month the previous year.
PVR: With its merger with Inox Leisure, the multiplex operator predicts a double-digit increase in revenue by FY24. According to management, the united business intends to add 200 screens every year and capitalise on the possibilities of smaller markets. Also, some of the properties would need to be updated.
Tata Motors: Total wholesales increased by 3% year on year to 79,705 units in February, up from 77,733 units the previous year. Although passenger car sales increased to 40,181 units in February, commercial vehicle sales fell to 36,565 units. LEARN MORE
Sunteck Realty: The real estate business struck an exclusive lease agreement with Upgrad for the premium commercial property “Sunteck BKC51,” which is expected to earn Rs 2,000 crore in income during the lease term.
Lupin Diagnostics: Lupin Diagnostics increased its foothold in southern India with the establishment of a new regional reference laboratory in Hyderabad. By March 2024, the management aims to build over 200 collecting centres throughout South India.
KNR Constructions: The business obtained a letter of approval for the building of a six-lane access-controlled Greenfield Highway on the Bengaluru-Vijayawada economic corridor on HAM mode from Marripudi to Somvarappadu.
Welspun Corporation: The business was given a contract for the export of LSAW pipes and bends to the Middle East. The deal calls for 83,000 MT of bare pipes, with the project owner having the option to coat them afterwards.
TVS Motor: The automaker had a 1.97 percent drop in sales in February, with 2.7 lakh units sold. In terms of its electric car business, management stated that it sold 15,522 units in February 2023, breaking the 15,000-unit barrier, up from 2,238 units the previous year.