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PRE-MARKET REPORT
The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open on a cautious note on Thursday amid mixed cues from global peers.
Gift Nifty was trading at around 24,520 levels, a discount of nearly 40 points from the Nifty futures’ previous close, indicating a weak start for the Indian stock market indices.
The US stock market ended higher, with all three major indexes scoring record closing highs on Wednesday, led by technology shares and upbeat comments by Federal Reserve Chair Jerome Powell.
The Dow Jones Industrial Average rallied 308.91 points, or 0.69%, to 45,014.44, while the S&P 500 rose 36.59 points, or 0.60%, to 6,086.47. The Nasdaq Composite ended 254.21 points, or 1.30%, higher at 19,735.12.
Asian markets traded mostly higher on Thursday following an overnight rally on Wall Street. Japan’s Nikkei 225 gained 0.88%, while the Topix rose 0.27%. South Korea’s Kospi fell 0.39% while Kosdaq declined 0.69%. Hong Kong’s Hang Seng index futures indicated a lower opening.
STOCKS TODAY
Torrent Pharmaceuticals: The company on Wednesday said that it had agreed to acquire brands Cospiaq (empagliflozin), Cospiaq Met (empagliflozin + metformin), and Xilingio (empagliflozin + linagliptin) from Boehringer Ingelheim International GmbH (BI).
Bharat Forge: The Pune-based forging company has announced the launch of a qualified institutions placement (QIP) book on December 4. The board has set a floor price of Rs 1,323.54 per share. According to CNBC-TV18 sources, the issue size may be Rs 1,650 crore.
Dynamic Services & Security: The company received an offer letter from the Government of Maharashtra for a “Mega Project” under the Package Scheme of Incentives (PSI) 2019. The project involves setting up a solar PV panel manufacturing facility with a capacity of 1800 MW at MIDC Villebhagad, Raigad district, with a fixed capital investment of ₹1,080 crore.
Bondada Engineering: The company has secured a ₹108 crore order from the Bihar Renewable Energy Development Agency. The project involves designing, supplying, installing, testing, and commissioning smart solar streetlight systems with a comprehensive 5-year maintenance contract, including remote monitoring.
Mazagon Dock Shipbuilders: The company has issued a clarification regarding media reports on the three additional Scorpene-class submarines under Project 75. The company stated that commercial negotiations for the project are ongoing, and final communication has yet to be received.
Hero MotoCorp: The company has launched the all-new, power-packed VIDA V2 range of electric scooters, reinforcing its commitment to make VIDA both aspirational and accessible while maintaining affordability.