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PRE MARKET
Gift Nifty indicates a positive start for the broader index in India, with a gain of 100 points or 0.40 percent. The Nifty futures were trading around the 25,177.50 level.
On Tuesday, US stocks rallied more than 1% as investors welcomed a fragile truce with Israel and Iran while parsing Federal Reserve Chair Jerome Powell’s congressional testimony for clues regarding the U.S. central bank’s path forward.
The Dow Jones Industrial Average rose 507.24 points, or 1.19%, to 43,089.02, the S&P 500 gained 67.01 points, or 1.11%, to 6,092.18, and the Nasdaq Composite gained 281.56 points, or 1.43%, to 19,912.53.
Stocks in Asia edged higher as the Israel- Iran truce appeared to hold and Treasury traders ramped up bets for US interest rate cuts.
The Taiwanese weighted index scaled up nearly 1 percent, and Hong Kong’s Hang Seng also increased 0.75 percent, and most Asian indices ended green, while Japan’s Nikkei went down 0.1 percent.
STOCKS TODAY
Infosys
The digital services and consulting firm has announced a strategic collaboration with Zoetis, the world’s leading animal health company, to enhance Zoetis’ IT operations and digital capabilities by integrating advanced AI solutions and automation services.
RITES
The company has received a Letter of Intent from Gujarat Urban Development Company to appoint a TPI agency for WSS/UGD/STP projects under Amrut 2.0/SJMMSVY under GUDC for Gujarat’s ULBs. The project is valued at Rs 28.5 crore.
Timex Group India
Promoter Timex Group Luxury Watches BV, Netherlands, will be selling up to a 15% stake in Timex Group India via an Offer-for-Sale (OFS) on June 25–26, including the base offer size of 7.5% (75.71 lakh shares). The OFS will open for non-retail investors on June 25 and for retail investors on June 26. The floor price for the offer is Rs 175 per share.
Hindalco Industries
Aditya Holdings LLC, a step-down wholly owned subsidiary of the company, has signed a definitive agreement to acquire a 100% stake in US-based specialty alumina manufacturer AluChem Companies Inc. for $125 million.
BLS E-Services
BLS E-Services, through its subsidiary Zero Mass, has entered into a definitive agreement to acquire Customer Service Points (CSPs) of State Bank of India (SBI) and HDFC Bank under the Business Correspondent (BC) business of Sub-K Impact Solutions on a slump sale basis for Rs 6.5 crore.
Source – Moneycontrol