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PRE MARKET
Gift Nifty indicates a higher opening for the broader index in India, with a gain of 98 points or 0.39 percent. The Nifty futures were trading aroundthe 25,512 level.
The Nasdaq and the S&P 500 closed lower in choppy trading on Wednesday, after the U.S. Federal Reserve cut interest rates by an expected 25 basis points and Fed Chair Jerome Powell cited the weak job market.
The Dow Jones Industrial Average rose 260.42 points, or 0.57%, to 46,018.32, the S&P 500 lost 6.41 points, or 0.10%, to 6,600.35, and the Nasdaq Composite lost 72.63 points, or 0.32%, to 22,261.33.
Asian markets firm up as Fed restarts easing cycle
Japan’s Nikkei, KOSPI Index, and the Taiwanese weighted index went up 1.14, 0.99, and 0.60 percen,t respectively.
STOCKS TODAY
Indosolar
Promoter Waaree Energies will sell up to 61 lakh shares (14.66% stake) in the company via an offer-for-sale on September 18-19, to comply with the minimum public shareholding requirement. The floor price has been fixed at Rs 500 per share.
Dixon Technologies
Dixon Technologies will acquire 20,867,924 equity shares (51% stake) in Kunshan Q Tech Microelectronics for Rs 553 crore from Q Tech Singapore and Q Tech International. Kunshan manufactures cameras and fingerprint modules for mobile handsets, Internet of Things systems, and automotive applications.
Bandhan Bank
Bandhan Bank announced the sale of 15.39 crore shares of Yes Bank at Rs 21.5 per share to Sumitomo Mitsui Banking Corporation, for Rs 330.96 crore, and reduced its shareholding in Yes Bank from 0.70% to 0.21%.
Cochin Shipyard
The company has signed a contract with the Oil and Natural Gas Corporation (ONGC) for dry dock and major lay-up repairs of one of its jack-up rigs. The estimated contract value is around Rs 200 crore, and the estimated duration for the project is around 12 months.
Mangalam Organics
The Board has approved and executed a binding loan facility with Yes Bank for Rs 50 crore, comprising a working capital limit of Rs 48 crore and an unsecured forward cover limit of Rs 2 crore, following the cancellation of the earlier proposal for the issuance of non-convertible debentures (NCDs) of Rs 60 crore.
SVP Global Textiles
The company has informed the exchange about a fire incident at its plant office/warehouse/records storage facility in Jhalawar, Rajasthan, on August 25. Several physical records and documents maintained at the premises have been damaged/burnt and are no longer retrievable.
Source – Moneycontrol