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PRE MARKET
Gift Nifty indicates a positive start for the broader index in India, with a gain of 4 points or 0.16 percent. The Nifty futures were trading around the 26,430.50 level.
Wall Street extended its rally on Wednesday as revived tech strength, and the increasing probability of a December interest rate cut from the U.S. Federal Reserve put investors in a buying mood the day before the Thanksgiving holiday.
All three major U.S. stock indexes notched their fourth consecutive daily gains, as investors looked past the worries over inflated tech valuations that dragged all three to losses last week.
The Dow Jones Industrial Average rose 314.67 points, or 0.67%, to 47,427.12, the S&P 500 gained 46.73 points, or 0.69%, to 6,812.61, and the Nasdaq Composite gained 189.10 points, or 0.82%, to 23,214.69.
Asian shares followed Wall Street higher as a global equities rally extended, fueled by rising expectations for Federal Reserve interest-rate cuts.
Japan’s Nikkei, Hong Kong’s Hang Seng, and the Taiwanese weighted went up +1.29, +0.36, and +0.56 percent, respectively.
STOCKS TODAY
One 97 Communications Paytm
The Reserve Bank of India has granted a Certificate of Authorisation to the company’s subsidiary, Paytm Payments Services, to operate as a Payment Aggregator under the Payment and Settlement Systems Act.
Wipro
The AI-powered technology services and consulting company announced a strategic alliance with the Indian Institute of Science (IISc) and the Foundation for Science Innovation and Development (FSID) to collaborate on cutting-edge research and innovation across frontier technologies.
Oberoi Realty
The company has entered into a Development Agreement for the redevelopment of land measuring 4,706 square meters at Nepean Sea Road, Mumbai. The company’s entitlement of the free-sale component from the project is presently estimated to be around 1.18 lakh square feet (RERA carpet area).
Jammu & Kashmir Bank
The Board has approved raising equity share capital of up to Rs 750 crore in one or more tranches via Qualified Institutional Placement (QIP), and raising to Rs 500 crore via non-convertible debentures on a private placement basis.
Patel Engineering
The company has received two Letters of Intent from Saidax Engineers and Infrastructure for the execution of excavation and associated works, and transportation of coal at a project located at Jhiria West OCP of Hasdeo area, Chhattisgarh, for South Eastern Coalfields (SECL). The total project value is Rs 798.19 crore.
Asian Paints
The company’s subsidiary, Berger Paints Emirates, UAE, has proposed setting up its second paint manufacturing facility in the UAE with an investment of AED 140 million (approximately Rs 340 crore), having an initial capacity of 55,800 KL per annum.
Source – Moneycontrol