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 25,854.50 level.
Wall Street ended higher on Wednesday, lifted by gains in Nvidia, Amazon, and other technology-related heavyweights following recent jitters about artificial intelligence.
The S&P 500 climbed 0.56% to end the session at 6,881.31 points. The Nasdaq gained 0.78% to 22,753.64 points, while the Dow Jones Industrial Average rose 0.26% to 49,662.66 points.
Asian stocks advanced after a rebound in tech and robust economic data boosted US equities. Oil held gains after its biggest jump since October.
Japan’s Nikkei and Hong Kong’s Hang Seng went up 0.70 and 0.52 percent, respectively.
STOCKS IN NEWS
Dr. Reddy’s Laboratories
The pharma company has entered into a definitive agreement with UK-headquartered specialty pharmaceutical company Mercury Pharma Group (MPGL) to acquire its trademarks, Progynova and Cyclo-Progynova, along with related assets for India, for $32.15 million.
Alembic Pharmaceuticals
The United States Food and Drug Administration (USFDA) conducted an unannounced cGMP inspection at the company’s injectable facility (F-3) located at Karakhadi during February 9–18. The inspection has been completed with two observations. None of the observations are related to data integrity.
Hilton Metal Forging
The Board has approved the issue of 1.67 crore rights equity shares at an issue price of Rs 16.68 per share, amounting to Rs 27.97 crore, to the eligible equity shareholders of the company as on the record date, on a rights basis.
RNIT AI Solutions
The company has received a paid pilot work order from the Government of Meghalaya for the integration of the RNIT AI Solution – Face Recognition System with the Meghalaya ONE and CM Connect applications. The order is worth up to Rs 1 crore.
Cochin Shipyard
The company has signed a contract worth more than Rs 2,000 crore with France-based CMA CGM for the design and construction of six feeder container vessels, each with a capacity of about 1,700 TEU and powered by liquefied natural gas (LNG). The first vessel is to be delivered in 36 months, and the last vessel is to be delivered within 64 months.
Source – Moneycontrol
