Asian stocks were trading higher on Monday as traders pondered the US rates outlook.Japan’s economy contracted more than expected in the first quarter of 2024, shrinking 2.9% year-on-year. This decline was primarily driven by a decrease in consumer spending amid stagnant wages and persistent inflation.US stocks closed slightly lower on Friday after initial gains, as investors weighed mixed economic signals.Here’s a table showing how US stocks performed on Friday:

Source: EquitymasterAt present, the BSE Sensex is trading 174 points higher and NSE Nifty is trading 51 points higher.Bajaj Auto, JSW Steel, and Maruti Suzuki are among the top gainers today.NTPC, HDFC Life, and Britannia the other hand are among the top losers today.Broader markets are trading on a positive note. The BSE Midcap index is trading 0.4% higher and the BSE Smallcap index is trading 0.9% higher.Barring the power sector and realty sector all other sectoral indices are trading on a positive note today, with stocks in the telecom sector and IT sector witnessing most buying.The rupee is trading at Rs 83.44 against the US dollar.In commodity markets, gold prices are trading marginally lower at Rs 71,531 per 10 grams today.
 Tata Consumer Receives Tax DemandFMCG firm Tata Consumer Products Ltd on 29 June said it had received a tax demand of Rs 1.7 bn from the Income Tax department for the assessment year 2019-20.The company believes that the aforementioned demand is not maintainable and is in the process of preferring an appeal and rectification against the said order.In the fourth quarter ended on 31 March, Tata Consumer Products’ net profit dropped 19.3% to Rs 2.2 bn.The company’s revenue increased 8.5% at Rs 39.3 bn during the quarter, with a strong performance in the India business.Tata Consumer Products is a prominent Indian FMCG company offering a diverse range of food and beverage products.From classic tea and coffee to convenient ready-to-eat meals, the company caters to various consumer needs.

NTPC Approves Fund Raising
State-owned power giant NTPC on 29 June said its board has approved a proposal to raise to Rs 120 bn through the issuance of bonds, NCDs not exceeding 12 (twelve), through private placement in the domestic market during the period commencing from the date of passing of special resolution till completion of one year thereof or the date of next Annual General Meeting in the financial year 2025-26.The size, tenure, listing details (BSE and/or NSE), coupon, security (if applicable) and other details as applicable will be decided at the time of issue of each tranche/series.Tata Consumer Products is a prominent Indian FMCG company offering a diverse range of food and beverage products.From classic tea and coffee to convenient ready-to-eat meals, the company caters to various consumer needs.
 JSW Arm Secures LoAJSW Energy announced that its wholly owned subsidiary, JSW Neo Energy has received a letter of award (LoA) for setting up a 300 MW ISTS-connected wind-solar hybrid power project from SJVN.This project has been awarded through a tariff-based competitive bid invited for setting 1,500 MW ISTS-connected wind-solar hybrid power projects.After this award, the company’s total locked-in capacity increases to 13.9 GW. The firm expects to have an installed generation capacity of 9.8 GW by CY24, up from 7.3 GW currently. With this hybrid project, the company further strengthens its energy solution offerings while moving towards an energy products and services company.JSW Energy is primarily engaged in the business of generation of power with principal places located at Vijayanagar (Karnataka), Ratnagiri (Maharashtra), Nandyal (Andhra Pradesh) and Salboni (West Bengal).JSW Energy is engaged in the business of generating power.It generates power from thermal, hydro, and solar sources and has a total installed capacity of 4.6 GW. Of this, 3.1 GW is from thermal, and 1.4 GW is from hydro and solar.
 Godrej Properties to Develop Land ParcelsGodrej Properties Ltd. has informed the exchanges that it will develop a nearly 11-acre land parcel in Pune. The development on this land will comprise primarily Group Housing and High Street Retail.The project, as per the exchange filing, is likely to have a developable potential of nearly 2.2 million square feet with an estimated revenue potential of Rs 18 bn.Additionally, the company has also acquired nearly 7 acres of land in Thanisandra in North Bengaluru to develop a high-end residential project. The developable potential of this project is nearly 9 lakh square feet with a revenue potential of nearly Rs 12 bn.With both these land parcels, the total revenue potential for Godrej Properties is worth nearly Rs 30 bn.More By This Author:Sensex Today Surges 569 Points; Nifty Tops 24,000 MarkSensex Today Trades Lower; Nifty Above 23,800Sensex Today Rallies 621 Points; Nifty Tops 23,850 Mark