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PRE MARKET REPORT
Gift Nifty indicates a negative start for the broader index in India, with a loss of 24 points or 0.10 percent. The Nifty futures were trading around the 24,126 level.
US stocks suffered steep losses on Monday as President Donald Trump ramped up his attacks on Federal Reserve Chair Jerome Powell. This caused investors to worry about the central bank’s independence even as they grappled with the effects of Trump’s ongoing, erratic trade war.
The Dow Jones Industrial Average fell 971.82 points, or 2.48%, to 38,170.41, the S&P 500 lost 124.50 points, or 2.36%, to 5,158.20, and the Nasdaq Composite lost 415.55 points, or 2.55%, to 15,870.90.
Asian markets subdued after Trump’s attack on Fed chair rattles Wall Street.
Japan’s Nikkei share remained unchanged, while Hong Kong’s Hang Seng decreased around 0.5 percent. The Taiwanese benchmark sank around 0.3 percent, while Singapore’s Straits Times increased over 1 percent.
STOCKS TODAY
Vedanta
Promoter entity Twin Star Holdings (borrower) has signed a Facility Agreement for $530 million with lenders. Vedanta Resources and Welter Trading are guarantors to the agreement. The Facility Agreement has been entered into for the purpose of servicing the financial indebtedness of the VRL Group, covering transaction expenses contemplated under the finance documents, and for general corporate purposes of the borrower. Twin Star Holdings is a related party of Vedanta and is classified as a member of the promoter group, holding 40.02% of shares in Vedanta.
Tata Power Company
The company’s renewable energy subsidiary, Tata Power Renewable Energy (TPREL), has signed a Power Purchase Agreement (PPA) to co-develop a 131 MW wind-solar hybrid renewable energy project.
Hindustan Unilever
The company has completed the acquisition of 90.5% shareholding in Uprising through a combination of primary infusion and secondary acquisition for a total cash consideration of Rs 2,706.4 crore.
Gandhar Oil Refinery
The company has signed a non-binding Memorandum of Understanding (MoU) with the Jawaharlal Nehru Port Authority (JNPA) to participate in Vadhvan Port for the development of a terminal for handling containers, bulk, and liquid cargo and to create supporting infrastructure. The estimated investment for the project is approximately Rs 1,000 crore, with operations expected to commence in 2030.
One97 Communications
The company’s subsidiary, Paytm Money, has announced new cost-effective interest rates and a revised brokerage structure for its recently launched Pay Later (MTF – Margin Trading Facility) offering. The platform aims to enhance affordability for both retail and high-value investors.
Coal India
The company has signed a non-binding Memorandum of Understanding (MoU) with Damodar Valley Corporation (DVC) to set up a 2×800 MW coal-fired ultra supercritical power plant in Jharkhand. DVC is a power generator operating in West Bengal and Jharkhand.
Source – Moneycontrol
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