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PRE MARKET REPORT
Gift Nifty indicates a negative start for the broader index in India, with a loss of 100 points or 0.43 percent. The Nifty futures were trading around the 23,369 level.
US stocks ended sharply lower on Wednesday as Nvidia warned about steep charges from new U.S. curbs on its chip exports to China. Federal Reserve Chair Jerome Powell said U.S. economic growth appears to be slowing.
The Dow Jones Industrial Average fell 699.57 points, or 1.73%, to 39,669.39, the S&P 500 lost 120.93 points, or 2.24%, to 5,275.70, and the Nasdaq Composite lost 516.01 points, or 3.07%, to 16,307.16.
Asian markets traded higher, but the yen weakened after US-Japan trade talks advanced, as investors adopt a wait-and-see approach to see how other tariff negotiations unfold.
Japan’s Nikkei shares rose by 0.85 percent and Hong Kong’s Hang Seng increased over 1 percent, while the Taiwanese benchmark sank around 1 percent.
STOCKS TODAY
Ultratech Cement
The company has entered into an Energy Supply Agreement and a Share Subscription and Shareholders Agreement to acquire 26% equity shares of AMPIN C&I Power Eight, a company engaged in the generation and transmission of renewable energy. The acquisition is aimed at meeting the company’s green energy requirements, optimizing energy costs, and complying with regulatory requirements for captive power consumption under electricity laws.
Bharat Heavy Electricals Limited
BHEL has signed a Technology Transfer Agreement with Bhabha Atomic Research Centre (BARC) for electrolyser systems for hydrogen production. The Mixed-Matrix Membrane Diaphragm Technology acquired from BARC will enable BHEL to achieve complete indigenous development of alkaline electrolyser systems.
Indian Railway Finance Corporation (IRFC)
The High Court of Judicature at Madras has allowed the writ petitions filed by IRFC and set aside the impugned order dated December 4, 2024, of the Assistant Commissioner (ST) regarding a tax demand of Rs 230.55 crore.
Dalmia Bharat Ltd
Dalmi Cement, a wholly owned material subsidiary of the company, has received a provisional attachment order of Rs 793.34 crore issued by the Enforcement Directorate (ED), Hyderabad, attaching land belonging to DCBL. The historical purchase value of the land is Rs 377.26 crore. The attachment stems from a case registered by the Central Bureau of Investigation (CBI) in 2011, which involved allegations against DCBL concerning investments in Bharathi Cement Corporation. The matter is currently sub judice before the CBI Court in Hyderabad.
Glenmark Pharmaceuticals
The company has announced the upcoming launch of Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate, and Amphetamine Sulfate tablets (mixed salts of a single entity Amphetamine product). The tablets will be available in 5 mg, 10 mg, 15 mg, 20 mg, and 30 mg strengths. This product is bioequivalent and therapeutically equivalent to the reference listed drug Adderall tablets by Teva Women’s Health, Inc. Distribution is scheduled to begin in May 2025.
Source – Moneycontrol
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