Today’s Market News :
Global Markets: Global markets are suggesting Positive signals, so our Indian markets are likely to start with a Gap Up opening today.
* Key companies including IRFC, IRCTC, and Raymond are set to announce their quarterly earnings today, with a total of 47 companies reporting for the July-September 2024 period.
* Amara Raja Energy is expected to report a 17% YoY growth in net profit and a 10% YoY increase in revenue, driven by strong performance in the aftermarket division and new energy business.
* Swiggy is set to launch its IPO with a reduced valuation of $11.3 billion, down from an earlier target of $15 billion, due to market volatility and the underwhelming debut of Hyundai India.
* The grey market premium (GMP) for Swiggy’s shares stands at 5% ahead of the IPO, with a price band fixed between Rs 371-390 per share, indicating investor willingness to pay around Rs 409.
* Coal India has declared an interim dividend of Rs 15.75 per share, with the record date set for November 5, 2023.
* The company has a dividend yield of 5.61%, having declared total dividends of Rs 25.50 per share in the past 12 months.
* Gold prices remained stable as investors brace for the U.S. presidential election and potential interest rate cuts by the Federal Reserve.
* Market participants are closely watching the Fed’s interest rate decision, with a 98% chance of a quarter-basis-point cut anticipated this week
