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PRE MARKET
Gift Nifty indicates a positive start for the broader index in India, with a gain of 60.50 points or 0.24 percent. The Nifty futures were trading aroundthe 24,888 level.
The S&P 500 posted a closing record high on Thursday as labor market data did not change expectations for an interest rate cut by the Federal Reserve, a day ahead of the key U.S. monthly jobs report.
The Dow Jones Industrial Average rose 350.06 points, or 0.77%, to 45,621.29, the S&P 500 gained 53.82 points, or 0.83%, to 6,502.08, and the Nasdaq Composite gained 209.97 points, or 0.98%, to 21,707.69.
Asian shares posted early gains Friday after stocks and bonds rallied on Wall Street as further signs of a cooling labor market reinforced bets the Federal Reserve will cut rates this month.
Japan’s Nikkei, Hong Kong’s Hang Seng, and the Taiwanese weighted index went up 0.73, 0.4,5 and 0.83 percen,t respectively.
STOCKS TODAY
Zydus Lifesciences
The company’s subsidiary, Zydus Lifesciences Global FZE, has entered into an exclusive licensing and supply agreement with Synthon BV of the Netherlands for Ozanimod capsules, a generic version of Zeposia for the US market. Ozanimod Capsules are indicated for relapsing forms of multiple sclerosis. Zydus will be responsible for the commercialization of the product in the USA.
NHPC
The Ministry of Power has appointed Bhupender Gupta as the Chairman & Managing Director of NHPC for a period of five years, effective September 4. With this, Sanjay Kumar Singh, Director (Projects), ceased to hold the additional charge of CMD.
Bharat Forge
The company’s subsidiary, Agneyastra Energetics, has agreed with the Andhra Pradesh Industrial Infrastructure Corporation to purchase 949.65 acres of land in Anantapur district. The company plans to develop a defence energetics manufacturing complex, including a high explosives manufacturing plant, ammunition filling plant, gun propellant facility, and provisions for future expansion into energetics for rockets, missile systems, space launch vehicles, and advanced energetics.
Yasho Industries
The company has entered into a long-term supply agreement with a leading multinational corporation (MNC) for the supply of lubricant additives over 15 years. The company expects Rs 150 crore in annual revenue starting from the end of FY27.
NTPC
The company has permanently discontinued operations at the NTPC Tanda Thermal Power Station, Stage-I, comprising four units of 110 MW each, effective September 1. With this, the total installed and commercial capacity of the NTPC Group stands at 82,926 MW.
Indian Hotels Company
The company has reported a malware incident affecting select IT systems. The company continues to monitor the situation closely while operating business as usual.
Source – Moneycontrol