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PRE MARKET
Gift Nifty indicates a flat to positive start for the broader index in India, with a gain of 135 points or 0.05 percent. The Nifty futures were trading aroundthe 25,670 level.
The Nasdaq and the S&P 500 closed lower on Tuesday, dragged down by weakness in large-cap tech stocks, while the Dow ended higher in a volatile day marked by seasonally low liquidity.
Dow Jones Industrial Average rose 400.17 points, or 0.91%, to 44,494.94. The S&P 500 lost 6.94 points, or 0.11%, to 6,198.01 and the Nasdaq Composite lost 166.84 points, or 0.82%, to 20,202.89.
Asian shares edged lower after President Donald Trump said he won’t delay the July 9 deadline for imposing higher levies on trading partners, ratcheting up trade tensions yet again.
Japan’s Nikkei went down 1.01 percent, and the Taiwanese weighted index also went down 0.38 percent, while Hong Kong’s Hang Seng went up 0.41 percent.
STOCKS TODAY
Lupin
The company has received approval from the United States Food and Drug Administration (US FDA) for its Abbreviated New Drug Application (ANDA) for Loteprednol Etabonate Ophthalmic Gel, 0.38%. Lupin is the exclusive first-to-file for this product and is eligible for 180 days of generic drug exclusivity. This product is a corticosteroid indicated for the treatment of postoperative inflammation and pain following ocular surgery.
Exicom Tele-Systems
The Board has approved a rights issue of 1.81 crore shares worth Rs 259.41 crore and has fixed the issue price at Rs 143 per share. Further, the Board approved the issuance of 3 rights equity shares for every 20 equity shares held on the record date. The rights issue will open on July 15 and close on July 30.
Trident
The company has received a Show Cause Notice from CGST, Ludhiana, for alleged tax dues of Rs 51.86 crore along with applicable interest and a penalty equivalent to the tax dues, if any. The notice is based on alleged discrepancies in ITC reconciliation as per GST returns for FY 2018–19 to FY 2020–21 and suppression of outward tax liability due to variance between E-way bills and GST returns.
Nazara Technologies
The company’s subsidiary, Nodwin Gaming, has completed the acquisition of a 92.30% stake in AFK Gaming from its founders Nishant Patel, Rakesh Ramchandran, Siddharth Nayyar, and other shareholders. Following this acquisition, AFK has become a wholly owned subsidiary of Nodwin and a step-down subsidiary of Nazara Technologies.
Laxmi Organic Industries
Keshav Ruthiya has been appointed as Chief Procurement Officer of the company, effective August 1. Additionally, Rajesh Naik has been appointed as President – Manufacturing, effective August 1. He will succeed Prashant Patil and lead the operations function.
Source – Moneycontrol