STOCK MARKET TODAY: ADANI TOTAL GAS, ADANI WILMAR, RAIL VIKAS NIGAM, WIPRO AND GODREJ GROUP ARE AMONG TOP STOCKS TO TRACK ON MAY 2

Stocks To Watch: Adani Total Gas, Adani Wilmar, Rail Vikas Nigam, Wipro, and Godrej Group are among top stocks to track today.

Stock Market Today: GIFT Nifty on Thursday around 8:45 am was up by 0.54 per cent or 122 points at 22,741. The Index hinted at a positive territory start for Dalal Street.

Global Cues

US stocks closed with a mixed performance on Wednesday following the Federal Reserve's decision to keep its key interest rate unchanged, as widely anticipated. The Dow Jones Industrial Average climbed by 87.37 points, or 0.23 per cent, reaching 37,903.29. Meanwhile, the S&P 500 experienced a decline of 17.3 points, or 0.34 per cent, closing at 5,018.39, and the Nasdaq Composite dropped by 52.34 points, or 0.33 per cent, settling at 15,605.48.

Japan’s Nikkei 225 inched down 0.34 per cent, reversing earlier losses and closing at 38,274.05, while the broad-based Topix was 0.5 per cent lower to end at 2,729.4.

Analyst View

PHDCCI appreciates the status quo stance of the federal reserve rate at 5.25 per cent-5.50 per cent.

Expanding economic activity, stable job growth accompanied with easing but elevated inflation are showing signs of strong recovery of the US economy, said Mr Sanjeev Agrawal, President, PHDCCI

Going ahead, at the back of the current dynamics of thei global economy, this is the time to remain watchful and act with caution, said Mr. Agrawal.

Ahead of Thursday market opening, take a look at the stocks that are in news to track for the entire day.

Stocks To Watch Today

1. Adani Total Gas

The city gas distribution company experienced a significant boost in net profit. The profit reached to Rs 168 crore for the March FY24 quarter. This is an increase of 71.5 percent from the previous fiscal year.

Why Has Adani Gas's Net Profit Increased?

The reason behind the rally in the net profit is due to operating numbers driven by lower natural gas costs.

Adani Gas Revenue

Revenue from operations also saw a 4.7 percent year-on-year increase to Rs 1,167 crore, with sales volume rising by 20 percent.

2. Mahindra & Mahindra Financial Services

The company stocks are also on the cart list because of the new development in the organisation. Raul Rebello has assumed the role of Managing Director and CEO effective April 30.

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3. Rail Vikas Nigam

The state-owned railway company emerged as the lowest bidder for a project worth Rs 390.97 crore from Eastern Railway. The project involves the construction of the Sitarampur bye-pass line under the Asansol division.

4. Godrej Group

The 127-year-old company has been the talk of the town since yesterday after the announcement of the split. The business has signed the agreement to separate stakes across the family.

5. Wipro

Wipro, the technology services and consulting company secured a contract from Nokia to revamp its employee service desk. This is the reason why it will be in the stocks to watch list.

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2024-05-02T03:56:57Z dg43tfdfdgfd