Sensex, Nifty poised for a positive opening - are new record highs on the cards? M&M, Studds, Paytm, Whirlpool, Asian Paints shares in focus

After strong rally in the previous session, Indian benchmark indices, BSE Sensex and NSE Nifty, are set for another positive start on Thursday, tracking firm cues from global peers. At 8:20 AM, GIFT Nifty futures were trading 33 points higher at 26,422.5, indicating a gap-up start for the Sensex and Nifty50.

Snapping a three-day losing streak, the S&P BSE Sensex surged 1,022.50 points to close at 85,609.51, while the NSE Nifty50 rallied 320.50 points to settle at 26,205.30 in the previous session. With this, the benchmarks inched closer to their record highs — the Sensex had touched an all-time high of 85,978 in September 2024, and the Nifty is now just 72 points shy of its record level of 26,277.

In the global market, Wall Street extended gaining streak on Wednesday, supported by easing Treasury yields and growing optimism around Fed policy rate cut next month. The Dow Jones, S&P 500, and tech-heavy Nasdaq rose in the range of 0.7% to 0.8%. Tracking firm cues from U.S. market, Asian stocks were also up in early trade.

Shares in focus today

Studds Accessories: The consolidated profit of the company rose 17.9% to ₹20.6 crore versus ₹17.5 crore in the year ago period, while revenue increased 6.5% year-on-year to ₹154.4 crore.

Mahindra & Mahindra : The auto major has launched the electric SUV Mahindra BE 6 Formula E Edition at ₹23.69 lakh, while the FE3 Edition with added features is priced at ₹24.49 lakh.

Whirlpool of India : Promoters are looking to sell up to 95 lakh shares, or 7.5% stake, in the company through a block deal.

One 97 Communications (Paytm) : The Reserve Bank of India has granted Paytm Payments Services, a subsidiary of the company, a Certificate of Authorization to function as a Payment Aggregator under the Payment and Settlement Systems Act.

Asian Paints : Berger Paints Emirates, a subsidiary of Asian Paints, plans to set up its second manufacturing facility in the UAE with an investment of AED 140 million (approx. ₹340 crore).

Havells India : The company has approved the acquisition of a 26% stake in Kundan Solar (Pali), an SPV formed to develop and operate a solar power plant. The acquisition cost is ₹5.63 crore.

Wipro : The IT major has announced a strategic partnership with the Indian Institute of Science (IISc) and the Foundation for Science Innovation and Development (FSID).

Oberoi Realty : It has signed a Development Agreement for the redevelopment of a 4,706 sq. m. land parcel at Nepean Sea Road in Mumbai.

Jammu & Kashmir Bank : The lender’s board has approved raising up to ₹750 crore in equity via QIP in multiple tranches, along with an additional ₹500 crore through non-convertible debentures via private placement.

Axis Bank: Anand Viswanathan has been appointed as Chief Risk Officer for a 3-year term starting January 1, 2026. He replaces Amit Talgeri and will join the senior leadership team.

Ashok Leyland: The board has approved the merger of its subsidiary Hinduja Leyland Finance into NDL Ventures. Shareholders of Hinduja Leyland Finance will receive 25 equity shares of NDL Ventures for every 10 shares held.

Patel Engineering: The company has secured two Letters of Intent from Saidax Engineers and Infrastructure for excavation and related works, including coal transportation, at the Jhiria West OCP project in Chhattisgarh for SECL. The combined order value stands at ₹798.19 crore.

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