PRE-MARKET INDIAN STOCKS NEWS: Earnings from Bharat Heavy Electricals, Eicher Motors, Oil India & Titan
Multiple Indian companies reported their quarterly earnings, showing mixed results.
ByteDance reportedly plans to produce 100k-300k units of AI chips this year, while it is developing the AI chip and is in talks with Samsung (005930 KS) to manufacture it, according to sources
China's Ministry of Finance issues CNY 14 bln of treasury bonds in Hong Kong
PRE-MARKET INDIAN STOCKS NEWS: Earnings from Bharat Heavy Electricals, Eicher Motors, Oil India & Titan
White House revised Fact Sheet on US-India trade deal with reference to pulses dropped and it changed the wording around India's proposed USD 500bln purchase from a firm "commitment" to an "intent"
SMIC (981 HK) expects Q1 revenue to remain flat as a decline in low-end orders partly offset surging demand for memory chips
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Bharat Heavy Electricals (BHEL IS) - Indian government will sell up to a 3% stake in the Co. via an offer for sale. (ET)
Brittania Industries (BRIT IS) - Co. Q3 (INR) consolidated net rose 17% Y/Y to 6.8bln, rev. from oper. rose 8% Y/Y to 49.7bln. (ET)
Eicher Motors (EIM IS) - Co. Q3 (INR) consolidated profit rose 21.4% Y/Y to 14.2bln, rev. rose 23% Y/Y to 61.1bln. (Moneycontrol)
Oil India (OIL IS) - Co. Q3 (INR) consolidated profit fell 10.7% Y/Y to 12.0bln, rev. fell 0.1% Y/Y to 83.3bln. (Moneycontrol)
Reliance Industries (RIL IS) - Co. consumer goods arm Reliance Consumer Products acquired Tamil Nadu's famous Manna parent Southern Health Foods. (ET)
Tata Motors Commercial Vehicle (TMCV IS) - Co. Indonesian subsidiary secured its largest-ever order for 70,000 Yodha and Ultra T.7 vehicles for deployment across Indonesia. (Moneycontrol)
Titan (TTAN IS) - Co. Q3 (INR) consolidated net rose 61% Y/Y to 16.8bln, total income rose 40% Y/Y to 245.9bln. (ET)
Other News
White House revised Fact Sheet on US-India trade deal with reference to pulses dropped and it changed the wording around India's proposed USD 500bln purchase from a firm "commitment" to an "intent". (Moneycontrol)
Bharat Heavy Electricals' government stake sale might pressure shares, while Titan's significant profit jump suggests strong consumer demand, contrasting with Oil India's profit decline, indicating potential supply chain issues. Overall, these results could impact market sentiment, especially within the industrial and consumer sectors.
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