PRE MARKET
Gift Nifty indicates a weak start for the broader index in India, with a loss of 130 points or 0.55 percent. The Nifty futures were trading around the 23,785.50 level.
US stocks closed lower on Wednesday as markets largely looked past a tame inflation report, focusing instead on intensifying hostilities and mounting repercussions related to the U.S.-Israeli war on Iran.
The Dow Jones Industrial Average fell 289.24 points, or 0.61%, to 47,417.27, the S&P 500 lost 5.68 points, or 0.08%, to 6,775.80 and the Nasdaq Composite gained 19.03 points, or 0.08%, to 22,716.14.
Shares fell in Asia on Thursday as oil prices jumped on reports that more ships had been struck in the Strait of Hormuz and in Iraqi waters, fuelling inflation and pushing borrowing costs higher worldwide.
Japan’s Nikkei, Hong Kong’s Hang Seng and the Taiwanese weighted index went down -1.25, -0.50 and -0.43 percent.
STOCKS IN NEWS
Wipro
The company has entered into a multi-year contract for business and technology modernisation for TruStage’s retirement services business. TruStage is an insurance and financial services provider based in Madison, Wisconsin.
KEC International
The RPG Group company has received new orders worth Rs 1,476 crore for transmission and distribution projects in India, the Middle East, Africa, and the Americas. With these orders, its year-to-date order intake now stands at Rs 22,800 crore.
Vascon Engineers
The company has received a work order worth Rs 115.9 crore from Ahmedabad Municipal Corporation for the development of Lotus Park. The work has to be completed within 24 months from the date of issue of the work order.
Adani Enterprises
The company’s subsidiary, Adani Defence Systems & Technologies, has completed the acquisition of a 14.2 percent shareholding in Air Works India (Engineering), increasing its total stake to 99.98 percent. Air Works is engaged in the business of maintenance, repair, and overhaul (MRO) of aircraft.
Redington
The company has received a favourable order from the Commissioner of Income Tax (Appeals), quashing the demand of Rs 230.21 crore (out of the total demand of Rs 233.66 crore) raised by the Assessing Officer for the Assessment Year 2020–21.
Source – Moneycontrol
