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PRE-MARKET REPORT
The domestic equity market indices, Sensex and Nifty 50, are expected to open on a cautious note Wednesday tracking mixed cues from global peers.
Gift Nifty was trading around 25,087, a discount of nearly 10 points from the Nifty futures’ previous close, indicating a flat-to-negative start for the Indian stock market indices.
The US stock market ended mixed on Tuesday dragged by selling in banking and energy stocks. The Dow Jones Industrial Average declined 92.63 points, or 0.23%, to 40,736.96, while the S&P 500 rose 24.47 points, or 0.45%, to 5,495.52. The Nasdaq Composite ended 141.28 points, or 0.84%, higher at 17,025.88.
Asian markets traded lower on Wednesday ahead of the US inflation data. MSCI’s broadest index of Asia-Pacific shares outside Japan is 0.08% lower.
Japan’s Nikkei 225 declined 0.7% and the Topix fell 0.86%. South Korea’s Kospi dropped 0.20%, while the Kosdaq rose 1.61%. Hong Kong Hang Seng index futures indicated a lower opening.
STOCKS TODAY
Reliance Industries: Reliance Retail Ventures Limited and Delta Galil Industries have entered a strategic partnership in India. Through the joint venture with Reliance Retail, Delta Galil will expand its presence in India and establish an apparel innovation platform focused on the Indian market.
Bhageria Industries Limited: Bhageria Industries Limited has received a Show Cause Cum Demand Notice from the Commissioner of CGST, Palghar, alleging a tax demand of Rs 2.09 crore. The company plans to file an appeal before the Commissioner (Appeals) against the order before the due date.
Genus: The company has established two wholly-owned step-down subsidiaries on September 10, 2024. The new subsidiaries are Genus Shekhawati Smart Metering Solutions SPV Private Limited and Genus Marwar Smart Metering Solutions SPV Private Limited.
Ashoka Buildcon: The company has sold its 90% stake in ABL Indira Projects JV LLP, a joint venture with Indira Projects & Development (Tamil Nadu) Private Limited, for a Maldives project. The stake was sold for Rs 5.44 crore, and payment has been received.
Astra Microwave Products: The company has signed a Memorandum of Understanding (MoU) with Premier Explosives Limited, Hyderabad, for a strategic alliance to develop and sell multiple products.
Oil India: A Memorandum of Understanding (MoU) was signed on September 10, 2024, between OIL, OVL & KABIL, and International Resources Holding RSC Ltd. (IRH), UAE, for global cooperation in critical mineral supply chains.