PRE MARKET
Gift Nifty indicates a flat opening for the broader index in India, with a gain of 22 points or 0.09 percent. The Nifty futures were trading around the 25,427 level.
Wall Street ended lower on Thursday, with losses in private equity companies and weakness in Walmart and Apple, while earnings-driven gains in industrials limited losses.
The Nasdaq declined 0.31% to 22,682.73 points, while the Dow Jones Industrial Average declined 0.54% to 49,395.16 points.
Stocks fell in Asia on Friday, the dollar headed for its largest weekly gain in four months, and oil prices were rising as a U.S. military build-up in the Middle Eas,t and a rout in private equity stocks sent ripples of nerves across markets.
Japan’s Nikkei and Hong Kong’s Hang Seng dropped -1.30 and -0.87 percent, respectively.
STOCKS IN NEWS
Novartis India
Promoter Novartis AG has agreed the sale of its 70.68 percent stake in its Indian subsidiary, Novartis India, to WaveRise Investments, ChrysCapital Fund X, and Two Infinity Partners. As part of the deal, these acquirers have agreed to purchase 1.74 crore shares of Novartis India from Novartis AG.
GHV Infra Projects
The company has received a Letter of Award (LoA) from Enmas EPC Power Projects (JV) for the supply of all materials required for 28.83 MWp grid-connected Rooftop Solar (RTS) plants for 14,416 SC and ST consumers, along with the installation, testing, and commissioning of the RTS plants for each of these consumers (in association with EEPC JV).
Pace Digitek
The company has received an advance Letter of Award worth Rs 89 crore from RailTel Corporation of India for the supply, installation, and commissioning of an IP-based video surveillance system in LHB coaches. The contract includes a three-year warranty followed by five years of a Comprehensive Annual Maintenance Contract (CAMC) for a RailTel customer (CoR) on a back-to-back basis.
Karur Vysya Bank
The bank has revised its one-year and six-month MCLR (Marginal Cost of Funds-Based Lending Rates) from 9.20 percent to 9.10 percent, effective February 22. The one-month and three-month MCLR have been revised to 8.95 percent from 9.05 percent.
Zydus Lifesciences
The US Food and Drug Administration (USFDA) conducted a Pre-Approval Inspection (PAI) for injectable medical devices at the company’s Unit 9 facility located at Zydus Biotech Park, Ahmedabad, during February 16–19. The regulator closed the inspection with nil observations.
Source – Moneycontrol
