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PRE MARKET
Gift Nifty indicates a positive start for the broader index in India, with a gain of 79 points or 0.30 percent. The Nifty futures were trading around the 26,157 level.
US stocks rallied on Friday as investors increased bets that the Federal Reserve will cut interest rates next month, while all three of the major indexes posted losses for the week amid concerns over lofty technology valuations.
The Dow Jones Industrial Average rose 493.15 points, or +1.08%, to 46,245.41, the S&P 500 gained 64.23 points, or +0.98%, to 6,602.99, and the Nasdaq Composite gained 195.04 points, or +0.88%, to 22,273.08.
Global stocks began an event-filled week on the front foot on Monday, as investors took heart from growing expectations of a Federal Reserve rate cut in December, even as policymakers remain divided over such a move.
Japan’s Nikkei went down -2.46 percent, while Hong Kong’s Hang Seng and the Taiwanese weighted went up +0.91 and +0.54 percent respectively.
STOCKS TODAY
Rail Vikas Nigam
Rail Vikas Nigam has emerged as the lowest bidder for a project worth Rs 180.8 crore from North Eastern Railway. The project involves design, supply, erection, testing, and commissioning of OHE modification and feeder wire work of the 2×25 kV traction system for capacity upgradation of the UTR-MWP section (184 RKM/368 TKM) in the Lucknow division of Northern Railway.
Tata Power Company
The company has signed commercial agreements with Druk Green Power Corporation for the implementation of the 1,125 MW Dorjilung Hydroelectric Power Project in Bhutan. The company has committed Rs 1,572 crore of equity investment in the project.
Natco Pharma
The US Food and Drug Administration (FDA) conducted an inspection at the API manufacturing plant in Manali, Chennai, during November 17–21 and concluded with seven observations in the Form 483. The company believes that the observations are procedural in nature.
Housing & Urban Development Corporation
Housing & Urban Development Corporation (HUDCO) has signed a Memorandum of Understanding (MoU) with IDFC Foundation. The collaboration aims at strengthening technical, financial, and leadership capacities across urban institutions, and providing training and technical support for the implementation of national urban programmes/schemes and HUDCO’s Urban Invest Window (UiWIN).
IDBI Bank
As per a report by NDTV Profit, apart from Oaktree Capital and Fairfax, Kotak Mahindra Bank has also joined the race for the stake sale of the bank. However, it should be noted that Kotak Mahindra Bank has not officially confirmed or denied the development. Moneycontrol cannot independently verify the report.
Tata Chemicals
The Board has approved an investment of Rs 135 crore towards the expansion of dense soda ash manufacturing capacity at its plant in Mithapur, and Rs 775 crore towards the expansion of precipitated silica manufacturing capacity at its plant in Cuddalore, Tamil Nadu.
Source – Money Control