PRE MARKET
Gift Nifty indicates a negative start for the broader index in India, with a loss of 114 points or 0.44 percent. The Nifty futures were trading around the 25,551 level.
U.S. stocks turned sharply lower on Thursday, the day after earnings from artificial intelligence vanguard Nvidia failed to impress investors, weighing down technology shares, which have provided muscle to the recent rally.
The Dow Jones Industrial Average rose 17.05 points, or 0.03%, to 49,499.20, the S&P 500 lost 37.27 points, or 0.54%, to 6,908.86, and the Nasdaq Composite lost 273.69 points, or 1.18%, to 22,878.38.
Asian stocks edged lower from record levels after a decline in Wall Street benchmarks, as sentiment was weighed down by a muted reaction to Nvidia Corp.’s earnings.
Japan’s Nikkei went up 0.29 percent, while Hong Kong’s Hang Seng and the KOSPI Index went down -1.46 and -0.52 percent, respectively.
STOCKS IN NEWS
Gujarat Mineral Development Corporation
GMDC has entered into a Memorandum of Understanding (MoU) with NTPC to jointly explore opportunities in coal and lignite gasification and downstream utilisation. The MoU establishes a collaborative framework to assess the feasibility of gasifying coal from GMDC’s coal blocks in Odisha and lignite from its mining operations in Gujarat.
Netweb Technologies India
Vertiv has announced a collaboration with Netweb Technologies India to jointly engineer and validate Netweb’s in-house designed GPU compute platforms with Vertiv’s integrated, end-to-end AI data centre solutions.
Jio Financial Services
The company has subscribed to and has been allotted 3.35 crore equity shares of Jio Credit, its wholly owned subsidiary (a non-banking financial company), for cash at a premium of Rs 585.70 per equity share, aggregating Rs 1,999.88 crore. Jio Credit will utilise the amount to fund its business operations.
Brigade Enterprises
Brigade Group has partnered with Primus Senior Living to launch three senior living communities across Bengaluru and other geographies in South India. The upcoming projects will have an expected gross development value (GDV) of approximately Rs 750 crore.
Onesource Specialty Pharma
The National Stock Exchange of India and BSE, through letters dated February 25, have issued their no-objection/no-adverse observation letters for the proposed scheme of arrangement and amalgamation among Steriscience Specialities, Brooks Steriscience, Steriscience Pte, Strides Pharma Services, and Onesource Speciality Pharma.
Source – Moneycontrol
