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PRE MARKET
GIFT Nifty indicates a positive start for the broader index in India, with a gain of 79 points or 0.31 percent. The Nifty futures were trading around the 25,177.50 level.
US stocks closed higher on Friday after a better-than-expected jobs report calmed worries about the economy, while Tesla bounced, clawing back some losses from a sharp plunge the previous session.
The Dow Jones Industrial Average rose 442.88 points, or 1.05%, to 42,762.62, the S&P 500 gained 61.02 points, or 1.03%, to 6,000.32, and the Nasdaq Composite gained 231.50 points, or 1.20%, to 19,529.95.
Asian stocks opened higher Monday, with the US and China set to resume trade negotiations. Positive jobs data in the world’s largest economy eased recession fears.
Japan’s Nikkei increased almost 1 percent, Hong Kong’s Hang Seng increased 1.32 percent, and the Taiwanese index increased 0.49 percent, respectively.
STOCKS TODAY
Infosys
Infosys has announced that the Director General of GST Intelligence (DGGI) has closed pre-show cause notice proceedings related to a Rs 32,403 crore tax demand. The case pertained to alleged non-payment of IGST under the Reverse Charge Mechanism for FY 2018–19 to 2021–22. The company had earlier responded to a notice covering July 2017 to March 2022.
GHV Infra Projects
The company has received a road construction work order worth Rs 546 crore from GHV India. The project involves the strengthening and improvement of various roads in Mumbai.
Multi Commodity Exchange of India
The Multi Commodity Exchange of India has received approval from SEBI (Securities and Exchange Board of India) to launch Electricity Derivatives. This product will allow generators, distribution companies, and large consumers to hedge against price volatility and manage associated risks in the electricity market.
UPL
Global seed company Advanta Brazil, part of the UPL Group, has announced that its Brazilian associate company, Serra Bonita Sementes S.A., has agreed to sell all its assets for $125 million. Advanta holds a 33% stake in Serra Bonita.
JK Cement
The company has completed the acquisition of a 60% stake in Saifco Cements from its shareholders and promoters, including a fresh issue by Saifco. Following this acquisition, Saifco has become a subsidiary of JK Cement with immediate effect.
NHPC
The company has declared the Commercial Operation Date (COD) for the third phase of part capacity (53.57 MW) of the 300 MW Karnisar Solar Power Project in Bikaner, effective June 7. With this, the cumulative commercial operation capacity of the project has reached 160.71 MW out of the total 300 MW.
Source – Moneycontrol