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PRE MARKET
Gift Nifty indicates a positive start for the broader index in India, with a gain of 48.5 points or 0.19 percent. The Nifty futures were trading around the 25,385 level.
Wall Street’s three main stock indexes ended lower in choppy trading on Tuesday as caution set in ahead of an anticipated interest rate cut from the Federal Reserve.
The Dow Jones Industrial Average fell 125.55 points, or 0.27%, to 45,757.90, the S&P 500 lost 8.52 points, or 0.13%, to 6,606.76, and the Nasdaq Composite lost 14.79 points, or 0.07%, to 22,333.96.
Asian stocks posted a modest drop at the open following a tepid Wall Street session, as investors held back ahead of Wednesday’s Federal Reserve interest-rate decision.
Japan’s Nikkei and Hong Kong’s Hang Seng went up 0.15 and 0.85 percent, respectively, while the KOSPI Index and the Taiwanese weighted index went down 1.04 and 0.34 percent, respectively.
STOCKS TODAY
Jindal Steel
Naveen Jindal-owned Jindal Steel’s overseas subsidiary, Jindal Steel International, has entered talks with German conglomerate thyssenkrupp AG to potentially acquire its European steel business, thyssenkrupp Steel Europe. The company has submitted a non-binding bid and has committed to support the business’s decarbonisation plan.
Angel One
Angel One has incorporated an associate company, Angel One Livwell Life Insurance, in collaboration with LivWell Holding Company Pte, marking its entry into the life insurance business. The company will invest Rs 104 crore to hold a 26% equity stake in the new venture.
Coal India
Coal India has been declared the preferred bidder by the Ministry of Mines for the Ontillu-Chandragiri REE (Rare Earth Element) exploration block. The exploration license deed will be executed within one year of the Letter of Intent issuance by the respective state governments.
Tech Mahindra
Life Insurance Corporation of India has increased its stake in Tech Mahindra by 2.004%, raising its holding from 8.836% to 10.84%.
Dr Reddy’s Laboratories
The company announced the launch of the novel molecule Tegoprazan under the brand name PCAB, for the treatment of acid-related gastrointestinal diseases in India.
Source – Moneycontrol