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Gift Nifty (offshore futures for Nifty) is looking at a marginally negative start, trading at around 25,161, modestly lower than recent futures close.
US Markets are placing greater wager on a 25 bps cut by the U.S. Federal Reserve in its September meeting. Weaker U.S. jobs data and other indicators have bolstered that perception.
Asian shares trade carefully, awaiting anticipation surrounding data releases (retail sales, industrial output, etc.), developments in U.S.–China trade talks, and uncertainty regarding how dovish the Fed is going to turn. China is also watched for soft economic indications.
Stock in News
Tata Technologies
The company, through its wholly owned subsidiary Tata Technologies Pte, Singapore, has signed a definitive agreement to acquire 100% equity shares in Germany-based ES-Tec GmbH and its subsidiaries (ES-Tec Group) from MW Beteiligungs GmbH for EUR 75 million. The acquisition is expected to be completed by December 2026.
Shakti Pumps India
The company has received a second order worth Rs 374.41 crore from MSEDC for the supply of 12,451 off-grid solar water pumps. With this, a total of 22,451 off-grid DC solar photovoltaic water pumps have been booked across two tranches, valuing the total order at Rs 616.30 crore.
Dr Reddy’s Laboratories
The company has received an Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for its API-I and API-II facilities at Panelav. The inspection was conducted from May 26 to May 31. The EIR indicates closure of inspection at the unit.
Diamond Power Infrastructure
The company has received a Letter of Intent from Adani Energy Solutions for the supply of 5,403 KM AL-59 Zebra conductor for the Jamnagar project, worth Rs 236.7 crore.
Apollo Hospitals Enterprises
The company announced its intention to acquire a 30.58% stake in its subsidiary Apollo Health and Lifestyle (AHLL) from the International Finance Corporation for Rs 1,254 crore. Post-transaction, AHLL will become a 100% subsidiary of the company, with 99.42% stake held by the company and the remaining balance in the ESOP pool.
Engineers India
The company has received a contract worth Rs 618 crore from a Fertilizer Company in Africa for providing Project Management Consultancy (PMC) and Engineering Procurement and Construction Management (EPCM) services for setting up a new fertilizer plant in Africa.
Source – Moneycontrol, Economic Times